Luxury Brand...For Kids

The Stanford shopping center is one of my favorite places to find ridiculous extravagance. On any given weekend, you'll find at least 10 dogs being pushed around in baby strollers and 3 others wearing designer shoes. No joke. The parking lots are filled with Mercedes, BMWs, and Porches. Well, you get the idea.

What I find the most unnecessary though, are the luxury clothing stores for children. There's a range of offerings from "lower" priced Gap Kids to Crew Cuts by J.Crew to the Burberry Kids Store. Yes, Burberry Kids. I've never been inside, but from having an idea what things cost in their adult stores, I can deduce that it must be pretty ridiculously expensive. Grownups spending that much money on clothing is hardly justifiable as is!

Little children don't know much about luxury brands and how they are different from non-luxury goods. These kinds of knowledge are taught by parents or other adults around them. You can claim that the material used in brand name items are better and may last longer, but why in the world do you need children's clothing to be long lasting anyways? Kids get their clothes dirty and grow out of them in a few months. Paying thousands of dollars for an outfit under these circumstances doesn't seem to be worth it.

Putting Your Money Where Your Mouth Is

A week ago, I got an email invitation from a friend via StickK.com. At first, I didn't know what to make of it. The email said that this friend needed my support. Ummmm...I'm glad I seem like the supportive type, but with what? After an interesting discussion with this friend about StickK.com, I gladly joined the weight loss "support team."

So what's the deal with this site anyways? Well, have you ever had a goal that you'd love to achieve but can never actually find enough motivation to go through with it? I'm sure we've all encountered this. (I've been meaning to do a triathlon for over a year now...) Well, this site gives you that extra kick in the behind you may need to accomplish this goal.

Here's how it works: after registering for the site for free, you'll publish your goal. Then comes the incentive part. You'll have to decide on an amount of money to lose if you don't accomplish this goal. For example, my friend has a weight loss goal of losing 1lb a week for 11 straight weeks. For each week this doesn't happen, it'll cost 10 bucks. In addition, you can name a referee to keep you honest and recruit supporters to cheer you on.

And where does the money you lose go to? It can be paid to friends and family or even a charity. But by far the worst thing that can happen to your hard earned cash (and perhaps the best thing for accomplishing your goal) is to have it go to an anti-charity. What's that you say? It's a cause that you feel strongly against. For example, if an avid supporter of walking barefoot can designate his money to be donated to American Soles*, a shoe charity, if he slips up.

Interesting concept. I recently listened to a Radiolab podcast about psyching yourself into not doing something by committing to a cause that you absolutely cannot stand. On the show, a woman quit smoking cold turkey by telling her friend that if she ever smokes again, she'll have to donate money to the KKK. She hasn't smoked since. StickK offers something similar: an announcement of the goal, a referee and supporters (the smoker's friend), as well as financial incentives and an anti-charity (donation to the KKK).

According to StickK's own website, people are 3X more likely to achieve what they set out to do using this method. They should know. The company was started by 3 Yale professors familiar to the field of behavioral economics. The last I checked over $7 million are currently on the line through the site. For now, I'll stay a "supporter" of my friend. But maybe in the near future, I'll jump on the bandwagon in order to get things done!

*American Soles is not an actual charity...as far as I know.

Age Discrimination in Retail and Services

This is something frustrating I encounter very often. I look young for my age (mid-20s), so people who don't know me often assume that I'm a college student. That's fine and all, if it just means that I get carded more often. Turns out, somewhat logically, people also assume that because I look young, I also have less buying power. Because of this, I find myself receiving less help in retail stores or get talked down to when I do receive services.

The examples that stand out the most for me are at financial institutions. I often get representatives who talk to me condescendingly or assume that I don't have much to save/invest. I had even been skipped over in line at Bank of America so the rep can help the old couple who came in after me while I sat there and waited for another 20 minutes.

What Luxuries Would You Give Up?

MSNBC's Life Inc. blog recently posted the result of a survey showing a list of "luxury" items or services that are deemed untouchable by Americans. So which luxury item/service can most of us not do without? The internet, of course! 81% of people surveyed indicated that internet services are untouchable followed by 61% for basic cable and 42% for haircuts and coloring. I must agree with the internet category. If it weren't for the internet services I receive at home, it'd be much harder for me to maintain this blog! But I'd consider a lower speed option in order to save money.

I looked at the survey data a bit closer to compare the answers for people between 18 and 34 years of age (Gen Y and some Gen X) to the rest of the age groups. When asked whether they've made any cuts in the spending categories listed, the least amount of 18 to 34-year-olds answered yes. Furthermore, the highest percentage of people in this age group indicated "untouchable" for 26 out of the 36 expenditures listed.

10 Commandments of Pulling April Fools' Pranks

Happy (early) April Fools! I was reminded of an old survey showing that April Fools' pranks in the office are frowned upon by a high percentage of marketing executives. Granted the survey was conducted last year, it's still interesting to see the results. I mean things can't have changed that much in a year.

I work at a startup company in the San Francisco Bay Area where the culture is more T-shirt and jeans than suits and ties. Yes, there is a hierarchy, but it's not strict. Our day-to-day interactions are very friendly for the most part. My point is that jokes are well received in this environment. I guess I never really encountered a setting that disapproves of harmless jokes. In college, pranks or "hacks" were unofficially encouraged by the school. It was seen as a creative outlet. Once in a while, you'll see cars being stacked onto rooftops or an extra door added to a random part of the hall way. I once barricaded a friend's door by constructing a "brick" wall made of snack boxes.

They’re all in good fun, but if you're thinking of pulling a prank, there are some ground rules you should abide by to prevent bad blood between co-workers. Here are 10 commandments of playing April Fools' pranks everyone should consider:

Millionaires and Reality TV

I have to admit, I get a kick out of watching reality TV. Shows like Survivor, Top Chef, or The Amazing Race bring out the competitive side of me. It's like watching a sports game where you find someone or some team to root for. You also get a "behind the scene" look at their processes and strategies for winning. Of course, I don't mind being able to laugh at terrible decisions or stupid remarks that are blurted out either.

That said, some reality shows really make me cringe. The Real House Wives series, Millionaire Match Maker, The Hills, etc. show case the excessive lifestyle of the rich while creating celebrities out of a bunch of none-deserving people. For some, the enticing part of watching the shows is their ability to ridicule the "celebrities" featured. Sadly, it seems like more viewers actually attempt to emulate the irresponsible behaviors displayed.

The Importance of Parental Influence

This is kind of weird to admit, but I didn't know that you can OWE money on your credit card for more than a month at a time until I was a teenager. Before that point, I always thought you spend what you can afford and pay it back in full at the end of the month (I guess you would call this a charge card). Okay, now that I've admitted that, you may think I'm not too bright. Or you may think that our educational system should focus more on personal finance. One of those statements is true. Yeah yeah, take it however you want, but I insist my thoughts were heavily influenced by my parental unit. So forget what it says about me. The real question should be what's that say about my parents? It could mean a few things:

1. They're extremely responsible credit card users.
2. They wanted me to understand the value of hard-earned money before I learn about debt.
3. They didn't tell me the whole story by explaining to me more clearly the full purpose and intention of credit cards. (Euphemism for the lying, I suppose) 

Football, Money, and Big Whiny Whiners

It's official. There's a lockout in place for the National Football League, the commissioner is only getting paid $1 a day, and the players filed to decertify their union in order to file an anti-trust suit against the owners. Well that's just great! This means a potentially long, dragged out process involving the courts. So it's looking like my beloved pastime might be shut down next season. Sigh...

A lot of people like to talk about where to place the blame for this unfortunate turn of events. Yup, me too! Apparently asking Mr. Obama was a bust. He said he had better things to deal with. So I decided to read the papers, online articles, and listen to the Freakonomics podcast for answers. What I found were equally aggravating excuses from both sides. The owners claim that the current pay structure is unsustainable for them, that they didn't spend millions upon millions of dollars to lose money. To this I say, there should have been a disclaimer or something telling them that there are always risks involved in any kind of investments. You'd think these billionaires would know that before they signed the last contract almost 2 decades ago.

As for the players, reading and listening to their side of the dispute proved to be equally irritating. Here are some common things they say when asked why they want more money:

ProcrastiNATION Unite!

I read a post about procrastination by Travis over at My Journey Out of Debt a while back and was inspired to write something related to the topic. Well, in the true spirit of a mega-procrastinator, I'm finally getting around to it. Hey, at least I'm doing it!

Unlike Travis, who procrastinated because he refused to be defeated, I do it as a pastime. No joke! I don't mean to brag, but I was first labeled as S.B.L in the 5th grade. Smart but lazy, or so my teacher told my parents. Great, thanks for sharing. In the decade or so that followed, my mom's reminded me numerous times of my terrible habit.

Okay, I'm not sooooo bad that I fail to deliver. Eventually I'll do it and hand over stellar final product, but it can still be problematic. Yes, some have suggested that it's because people like me work better under pressure. Maybe. But it can lead to constant stress, not to mention potential financial losses for waiting 'til the last minute. Procrastination is why some of us haven't gotten started on saving for emergencies/retirement or paying more for shipping after putting off on ordering something important.

Even as an expert procrastinator, I somehow find ways to get things done. Here's a get-it-done guide for those of us who aren’t always on top of things:

The Oscars Makeover: Failure By Design

Who watched the Oscars last night? I definitely tuned in. I must say, I'm not a faithful award show viewer, but I do switch the channel to watch sometimes because, well, they’re big events. Who doesn't love to watch the rich and famous lavishly partying away what I can't even dream of earning my entire lifetime all in one evening. Besides, "everyone" will be talking about it the next day, right? The reason I paid closer attention to the Academy Awards this year was due to their promise to entertain a younger audience. Oscar v2.0, they called it.

A few years ago, viewership of the Oscars fell to an all-time low, so in order to get more people (young people, to be exact) to tune in this yesterday, they pulled out all the stops. It's not their first try. Jon Stewart hosting in 2008 followed by Hugh Jackman in 2009, the Academy's been trying to (re)build viewer base for a while now. This year's rebranding efforts seemed to be most obvious, though. Twitter, Youtube videos, television ads, and most importantly, hosts who "appeal to a younger demographic," according to host, Anne Hathaway, herself.

Stop Dismissing Higher Education! It's Well Worth It

I've recently read a lot articles and blog posts relating to higher education. Everything seems to come back to the point of whether it's worth it to go to college or not. Many argue that due to the Great Recession and skyrocketing cost of higher education, a lot of college graduates are stuck with loads and loads of student loans while they can't find or hold down a good job.

It's true that employment opportunities are currently not what they use to be, but that's no reason to dismiss going to college altogether. Instead, it provides a chance for us to rethink what a college education means. On an individual basis, a careful cost/benefit analysis needs to be done when choosing a school. Nationally, though, we should bring attention to studies and debates to find ways to keep costs down.

Besides, why are we talking about less education when the rest of the world is becoming increasingly more educated? In a lot of countries, a bachelor’s degree is no longer enough. People are getting masters and Ph.Ds. in order to get jobs. On top of that, globalization means that we won't only be competing for jobs here in the U.S., we'll have to compete with those people with graduate degrees from other countries in the future (it's already happening now), whether we like it or not.

My Health/Spending Dilemma

Remember the boot camp that inspired a "buddy system" post a while back? Well, I'm finishing up week 3, and it's no joke. The trainer leads the class through drill after drill for about an hour, four days a week. Classes are fun, the people are encouraging, and I'm definitely seeing results, which is much more than I can say for other things I've tried.

Let me give you a little bit of background, first. At the end of my first year in college, the freshman 15 turned into more of a freshman 30. I tried exercising and dieting every year during break, but couldn't really get my weight down due to stress, work load, and all of the crap I feed my body daily. It became my goal after graduation to get back into shape and maintain a healthy weight. I lost all of the 30 pounds I gained and am less than 10lbs away from my weight goal. That's great and all...but I hit a wall in the fall of 2009. My weight's been fluctuating around the same place ever since.

Is Your Information Secure? Technology's Not Perfect

I've been told that for someone who works as an engineer, I'm pretty hostile towards technology. I don't like feeling like a guinea pig, so I'm rarely an early adaptor to new devices. This isn't because I'm not excited about innovation or not curious about how they work. Rather, my hostility stems from a general skepticism about how increasingly "perfect" each invention seems to become. Yes, improvements are inevitable, but I also believe that a small amount of distrust is healthy. Anyway you put it, technologies are created by humans and we are hardly perfect beings.

From my experience, during the conception of a product, there are numerous factors to be considered before it can be put into the hands of consumers (think BETA versions). Even then, mistakes or problems that haven't been considered before often come up. This can be said about almost anything: software, computers, smartphones, etc.

This is the major reason why, despite the benefit of convenience, I haven't started doing mobile banking or use online bank account consolidation/budget managing websites. Yes, you heard right. I'm pretty old school when it comes to finances. Besides online banking and one android app where I log discretionary spending, technology plays a minimal part in money handling for me. (It's pretty ironic that my credit card was still charged fraudulently a few weeks ago…)

Groupon Mania – Deal or No Deal?

Groupon's been all the buzz recently. Within the last few months, it turned down a $3 billion buyout offer from Yahoo! as well as Google's $6 billion offer. Not such a wise decision if you ask me, the company’s business model can be easily imitated by others, in fact, it already has. Numerous websites have popped up within the last year or so offering local deals. Of course, to add insult to injury, Groupon made 3 terrible (not to mention insensitive) Super Bowl ads. Bad move, especially with a pending $15 billion IPO.

Okay, enough of me giving them business advice that I'm clearly not qualified to do. For now, I'd like to believe the executives at Groupon have some special secret no-fail business plan that the rest of us can't even dream of.

Anyways, I have been on the Groupon train since 2009. When I first started, Groupon wasn’t getting all of the media attention it’s getting now, and like most people, I thought it was a very unique concept. Not only are the discounts generous, the element of supporting local businesses is a huge plus. It’s a great site to discover small local mom and pop places. In fact, my first purchase was to a restaurant that I had been dying to try. Awesome, right? In a blink of an eye, I joined Living Social (now backed by Amazon), DealOn, and BloomSpot. Sites like Yelp, Gilt, and Active.com , which I was already a part of, began to issue exclusive deals to members, too.

Lessons Learned From An 8-Year-Old

While standing amongst all of the things I can't afford in a luxury retail store this afternoon, my attention turned to the interaction of a mother and her daughter about eight years of age. The woman was picking out designer purses and the girl curiously followed along. When the mom started to examine a purse, the eight-year-old nagged, "Check the price tag. Did you check the price tag?"

The first two requests were ignored, but by the third time the girl repeated herself, her mom impatiently replied, "Don't worry about it."

The little girl reached out, grabbed the tag, and gasped, "OH MY GOD! It's so expensive..."

A Game of Monopoly

Recently, I got together with a few friends and played a Monopoly-esque board game. This reminded me of a real Hasbro Monopoly game I played in 2009. My friends and I have an inside joke that, because we grew up in the 'burbs, there's never really anything to do but go to Toys 'R Us. So occasionally, even after we've become way too old for the majority of toys sold there, we'd stroll into Toys 'R Us to amuse ourselves with what kids are playing with these days.

That's how we found Monopoly Electronic Banking Edition in the board game section. I laughed to myself thinking that it was absurd, but before I can say anything, my friend had already decided to shell out 40 bucks on a credit card for the game. So that afternoon, I experienced Monopoly's new invention.