[1] Sell a service
[2] Accept KIVA gift certificate as a payment
[3] Distribute funds to KIVA entrepeneurs; subscibers can check with the Lender page to ensure monies are allocated to their requested projects
[4] Either (a) take the funds out upon payment - or recycle the money to new borrowers. Depends on your business.
No takers yet - but it is another potential marketing strategy for KIVA.
what my bf told me was that wall street buys up a lot of the debt. years ago, it was difficult to get credit cause the banks only had a certain amount of money to lend, so their application process was strict. now, it seems wall street will buy up all this debt so that the banks essentially become the middle men between the lenders and the lendees. they buy up debt and the banks have more money to offer new clients. i'm going to find out where he read this and maybe it'll be a good info post. i'm guessiing more credit = more consumer spending and it somehow benefits wall street. that's just my guess though. and this may not apply to all banks, maybe just the ones that give out cc the most - like captial one. maybe banks like american express or discover don't do that. again, just my guesses.
Yes, I quit spending on the cards a while ago. Just made a habit of not using them. So this new one, I won't even touch it before it's cut in half. So no new fees. A lot of the articles that I linked to covered that info - very disturbing to see how it works.
One thing that I tried to research but couldn't seem to determine was really where the money goes, or who it goes to. Is VISA really behind every VISA card? Or does Capital One get most of the money and just give a cut? Does switching a balance from one card to another do you any good (in terms of vengence, I guess)?
i have a few thousand in credit card debt that i keep in cards dedicated to the transfer balance. a few things to note:
if you use a credit card (charge and pay off balance in full every month), after a while, your good payment record will give the company incentive to offer you better balance transfer rates (usually 3.99% or 4.99% balance transfer rate for life).
you can then use that offer and transfer any debt from other cards w/higher rates and just leave it on that card. don't ever use the card again until you've paid off the balance transfer completely.
what most people don't know: let's say you transfer $2000 at 5%. but your regular rate for new purchases is $17% (typical of all cards). if you charge something for $100, and then that month pay $100, your payment does not go to that $100 you just charged. it goes to your balance transfer payment. so now you have $1900 at 5%, and $100 at 17%.
also, because only a few big companies own all the CCs out there, make sure you're not signing up for a new credit card that is owned by the same CC you are planning to balance transfer. most won't allow you to balance transfer from 2 CCs of the same company.
i know you're planning on paying off your debt within the next year, so you might never have to face these issues again.
I don't think that anyone wins in the credit card wars. Oh, wait. Except the credit card companies. I guess that they win.
I was totally expecting this article to end on a cheery note. But then I found all those balance transfer hidden fees articles and realized that I didn't have a lot to tell people.
I know it doesn't sound like you saved a ton of money, but ultimately you were able to punish the company that didn't treat you with respect. And that counts for a lot in my book!
Now, what makes you think there was really an offer for $8000 higher?
That listing agent dug a pit for you and you eagerly jumped into it because you thought you were saving some money. This is like gravity, it's so predictable.
Besides the fact that this is unethical and a clear breach of the seller's agent's duty to represent the seller by getting them the best price, this should be a watch out for buyers and sellers. If the process becomes more about getting commisions and less about the price of the house, then a level of distrust enters into the situation. For example, if the house has been on the market for more than 3 months and the seller puts in less effort or suggest significant price cuts so they can be rid of the listing, it may not be in the sellers best interest. Additionally, dual agency brings in a host of other issues. If the seller had a lower offer than yours, but told you they had a higher offer to boost their commision, would that be right? In my opinion no, so the inverse which you stated in your article is also neither ethical, nor right. Perhaps because I am an investor and have seen a lot of buyers get hosed with dual agency, I have a different perspective. I like your story, but I just want to let people know it does not always work out that way.
Wow! This is a kind of magazine subscription that anybody shouldn't miss! Where else can we have magazine subscriptions for free?! This is definitely the right thing to switch on especially if we have so many bills to pay. Every magazine lover really needs a magazine but it doesn't have to be expensive :D
I started lending with Kiva in December. It is a truly rewarding experience- choosing a deserving business person, looking over their business plan, and watching that person succeed is so much more personal than just sending money to a charity where you don't know exactly what it's doing, and don't get to see the positive effects your donation has on a community. As my loans begin to be repaid, I envision what will happen when the money comes back to me and I can reinvest it. I imagine having 50 simultaneous loans, to people all over the world, improving themselves and their communities.
At a time when we're thinking about expensive gifts for Valentine's Day we forget that for the price of a box of chocolates we could be helping someone reinvent their life. Great post Sarah!
P.S. For some reason I hear Ira Glass's voice when I read this sentence:
"With Kiva's help, you (yes YOU) can do something to change someone's life."
I just bought sheep for my sponsored kid's family in India. It was a hefty price tag, but for several sheep and a shed and all the vet's cost, it was totally worth it. I've heard about the differences that a small amount of livestock can make in a family's life, and I'm a huge proponent of microfinance. Thanks for a more unique a heartfelt perspective on love, Sarah.
*Update* I just donated $25 to a lady in Afghanistan and I love myself more already!
Women all over the world are trying to somehow anonymously send this link to their men. These are some great ideas, Tannaz.
Love the cherry tomato idea! I tried it a couple of weeks ago myself. It was so easy and savory, tangy and sweet at the same time. And totally agree on the champagne. Actually, the mor I try French champagne, the less I really like it. I'd take a sparkling rose or something Californian any day.
I found great candles at the Dollar Store a couple years back. I think I spent $10 on 20 candles. It was awesome.
I just wanted to add my three cents worth. I'm a fat guy who just started running in May, 2006 and finished the Marine Corp Marathon 5 months later. I'm cataloging my trials and tips in a series on my site (see link below). I recognize I'm not a professional in any way, but I want to encourage people that if I can do it, then they can too.
I'm still not a runner. I've run about 4 times since the marathon last October, but it feels great each time. We were going to "start a family" this year, but now we decided to run one more marathon and pay down a good bit of debt before hopefully bringing a child into our lives. I want to best my time of 6 hours by at least an hour, maybe more. I won't wait until May to begin training this time.
If you want to begin running, give yourself a goal, like being able to run a 10k in 6 months. It's even better if you can sign up and pay for it. Then there's a financial reason attached!
I live a mile from the largest county library here in Maryland, but I live a quarter mile from Blockbuster. It happens that in my case, receiving movies via the mail and having the option to return them in-store at more convenient times than the library is best.
I would love to be a recurring library patron, but the Blockbuster Total Access plan is just much more convenient and time/cost effective for me. I say cost-effective because for now, I have to pay to park at the new library, and my time is more valuable than spending time trying to get a movie on a long waiting list. Plus, we go through about 10 movies a month, so it comes down to less than $2 a movie, and we rarely need to leave our home to get the movies.
I always try and do something interesting and unique for my wife. For her birthday, I made her a card that was a message in a bottle. It cost less than a cliche Hallmark card and she felt very special.
[1] Sell a service
[2] Accept KIVA gift certificate as a payment
[3] Distribute funds to KIVA entrepeneurs; subscibers can check with the Lender page to ensure monies are allocated to their requested projects
[4] Either (a) take the funds out upon payment - or recycle the money to new borrowers. Depends on your business.
No takers yet - but it is another potential marketing strategy for KIVA.
http://blog.fallondpicks.com/2007/02/new-subscription-model-for-my.html
Best wishes,
Declan
what my bf told me was that wall street buys up a lot of the debt. years ago, it was difficult to get credit cause the banks only had a certain amount of money to lend, so their application process was strict. now, it seems wall street will buy up all this debt so that the banks essentially become the middle men between the lenders and the lendees. they buy up debt and the banks have more money to offer new clients. i'm going to find out where he read this and maybe it'll be a good info post. i'm guessiing more credit = more consumer spending and it somehow benefits wall street. that's just my guess though. and this may not apply to all banks, maybe just the ones that give out cc the most - like captial one. maybe banks like american express or discover don't do that. again, just my guesses.
Yes, I quit spending on the cards a while ago. Just made a habit of not using them. So this new one, I won't even touch it before it's cut in half. So no new fees. A lot of the articles that I linked to covered that info - very disturbing to see how it works.
One thing that I tried to research but couldn't seem to determine was really where the money goes, or who it goes to. Is VISA really behind every VISA card? Or does Capital One get most of the money and just give a cut? Does switching a balance from one card to another do you any good (in terms of vengence, I guess)?
i have a few thousand in credit card debt that i keep in cards dedicated to the transfer balance. a few things to note:
if you use a credit card (charge and pay off balance in full every month), after a while, your good payment record will give the company incentive to offer you better balance transfer rates (usually 3.99% or 4.99% balance transfer rate for life).
you can then use that offer and transfer any debt from other cards w/higher rates and just leave it on that card. don't ever use the card again until you've paid off the balance transfer completely.
what most people don't know: let's say you transfer $2000 at 5%. but your regular rate for new purchases is $17% (typical of all cards). if you charge something for $100, and then that month pay $100, your payment does not go to that $100 you just charged. it goes to your balance transfer payment. so now you have $1900 at 5%, and $100 at 17%.
also, because only a few big companies own all the CCs out there, make sure you're not signing up for a new credit card that is owned by the same CC you are planning to balance transfer. most won't allow you to balance transfer from 2 CCs of the same company.
i know you're planning on paying off your debt within the next year, so you might never have to face these issues again.
I don't think that anyone wins in the credit card wars. Oh, wait. Except the credit card companies. I guess that they win.
I was totally expecting this article to end on a cheery note. But then I found all those balance transfer hidden fees articles and realized that I didn't have a lot to tell people.
I know it doesn't sound like you saved a ton of money, but ultimately you were able to punish the company that didn't treat you with respect. And that counts for a lot in my book!
I'm going to assume this story is true.
Now, what makes you think there was really an offer for $8000 higher?
That listing agent dug a pit for you and you eagerly jumped into it because you thought you were saving some money. This is like gravity, it's so predictable.
PT Barnum drastically underestimated.
Besides the fact that this is unethical and a clear breach of the seller's agent's duty to represent the seller by getting them the best price, this should be a watch out for buyers and sellers. If the process becomes more about getting commisions and less about the price of the house, then a level of distrust enters into the situation. For example, if the house has been on the market for more than 3 months and the seller puts in less effort or suggest significant price cuts so they can be rid of the listing, it may not be in the sellers best interest. Additionally, dual agency brings in a host of other issues. If the seller had a lower offer than yours, but told you they had a higher offer to boost their commision, would that be right? In my opinion no, so the inverse which you stated in your article is also neither ethical, nor right. Perhaps because I am an investor and have seen a lot of buyers get hosed with dual agency, I have a different perspective. I like your story, but I just want to let people know it does not always work out that way.
Wow! This is a kind of magazine subscription that anybody shouldn't miss! Where else can we have magazine subscriptions for free?! This is definitely the right thing to switch on especially if we have so many bills to pay. Every magazine lover really needs a magazine but it doesn't have to be expensive :D
Cherry Tomatoes: They're like lipstick for your dinner plate.
i always imagined ira as some 30-something dorky guy. so he's actually a 40-something dorky guy.
I started lending with Kiva in December. It is a truly rewarding experience- choosing a deserving business person, looking over their business plan, and watching that person succeed is so much more personal than just sending money to a charity where you don't know exactly what it's doing, and don't get to see the positive effects your donation has on a community. As my loans begin to be repaid, I envision what will happen when the money comes back to me and I can reinvest it. I imagine having 50 simultaneous loans, to people all over the world, improving themselves and their communities.
It's good stuff- thanks for spreading the word.
I'm down with the freebizmag as well. Rare is a day I don't get a magazine. In fact, I highly recommend that folks who have not, read my free-stuff post for some tips that will come in handy with that particular site.
I also have several other mag sites up my sleeve. I'll share when I am feeling more generous!
Ira wears some cool glasses, just like a certain Lisa-Leob-look-alike. :)
You certainly have a way with words Tannaz. Now I really want to try out those cherry tomatoes...
I KNEW there was a reason why I went a little weak in the knees when I read that line! (Now, Ira is a guy with some glasses. Am I right? Eh?)
At a time when we're thinking about expensive gifts for Valentine's Day we forget that for the price of a box of chocolates we could be helping someone reinvent their life. Great post Sarah!
P.S. For some reason I hear Ira Glass's voice when I read this sentence:
"With Kiva's help, you (yes YOU) can do something to change someone's life."
I just bought sheep for my sponsored kid's family in India. It was a hefty price tag, but for several sheep and a shed and all the vet's cost, it was totally worth it. I've heard about the differences that a small amount of livestock can make in a family's life, and I'm a huge proponent of microfinance. Thanks for a more unique a heartfelt perspective on love, Sarah.
*Update* I just donated $25 to a lady in Afghanistan and I love myself more already!
Always good to hear about someone who has done what I keep thinking I can't. Thanks for the link to your site.
Women all over the world are trying to somehow anonymously send this link to their men. These are some great ideas, Tannaz.
Love the cherry tomato idea! I tried it a couple of weeks ago myself. It was so easy and savory, tangy and sweet at the same time. And totally agree on the champagne. Actually, the mor I try French champagne, the less I really like it. I'd take a sparkling rose or something Californian any day.
I found great candles at the Dollar Store a couple years back. I think I spent $10 on 20 candles. It was awesome.
I was getting a little tired of being billed for my magazines. :)
I just wanted to add my three cents worth. I'm a fat guy who just started running in May, 2006 and finished the Marine Corp Marathon 5 months later. I'm cataloging my trials and tips in a series on my site (see link below). I recognize I'm not a professional in any way, but I want to encourage people that if I can do it, then they can too.
I'm still not a runner. I've run about 4 times since the marathon last October, but it feels great each time. We were going to "start a family" this year, but now we decided to run one more marathon and pay down a good bit of debt before hopefully bringing a child into our lives. I want to best my time of 6 hours by at least an hour, maybe more. I won't wait until May to begin training this time.
If you want to begin running, give yourself a goal, like being able to run a 10k in 6 months. It's even better if you can sign up and pay for it. Then there's a financial reason attached!
Marathons for Beginner Runners
I live a mile from the largest county library here in Maryland, but I live a quarter mile from Blockbuster. It happens that in my case, receiving movies via the mail and having the option to return them in-store at more convenient times than the library is best.
I would love to be a recurring library patron, but the Blockbuster Total Access plan is just much more convenient and time/cost effective for me. I say cost-effective because for now, I have to pay to park at the new library, and my time is more valuable than spending time trying to get a movie on a long waiting list. Plus, we go through about 10 movies a month, so it comes down to less than $2 a movie, and we rarely need to leave our home to get the movies.
thank you thank you thank you! i'm always looking for free or cheap magazine subs, but have never heard fo this site before. thanks for the lead!
I always try and do something interesting and unique for my wife. For her birthday, I made her a card that was a message in a bottle. It cost less than a cliche Hallmark card and she felt very special.