Vortex of Tide Detergent Choices

People have written about this before, and I know I’m not offering anything too novel here, but I was at the grocery store the other night, in a hurry and very eager to end the shopping trip, when I was remembered the last item on my list – laundry detergent. I have been a loyal Tide shopper as long as I can remember. My parents bought Tide. I buy Tide, even when I was in college. It’s not the most economical brand to buy, but I’m no laundry expert, and it just feels like something you don’t want to mess up with buying cheap – you could end up altering your clothes (far more expensive than the investment in good detergent). But last night, I was overwhelmed with a SEA of tide. Choices in size, scent, cause, intended use – front loaders, high efficiency machines. I was so frustrated. Not least of all was the difficulty to understand the true price/value of their product. So many different price points, with so many different variables left me blind to what was causing one container to be more expensive than another. While I might pay more for the larger size, I am not going to pay more for the scent of Febreze. I was so frustrated, I picked up a very small size of the exact product I had bought last time, but vowed to go to Costco and buy a different brand next time to get the most value. I can stand for some level of consumer confusion – but NOT when it comes to price!

An Early Adopter for Once in my Life

Today, I'm actually going for it... and upgrading my "free manufacturers phone" to the I-Phone 3GS. The Guy assures me that such a drastic change is going to change my very personality....

Only time shall tell, but I guess I think of myself highly enough to challenge him that this won't be the case. I will report back in a week or so to tell all....

A Sad Commentary

So my company is impacted by the recent peanut butter recall (we do not actually have products to recall, but people think we do… that whole “better safe than sorry” mentality). Plus consumers don’t have time to check the company websites of every product they pull off the shelf. So our consumer insights group commissioned a quick study on the matter and one of the findings was that more people are aware of the peanut butter recall (87%) than the worsened state of the economy (84%)!

Wow, which really just goes to show you how oblivious people are and how little people like to think about money!

"Nothing takes the taste out of peanut butter quite like 10% unemployment"
… er, I mean, unrequited love – sorry Charlie Brown.

Indulge Me On This

I’ve been disappointed in the quality of the articles in the Sunday Styles in the past year. Often the writing itself is still stand-out, but the articles and actual topics chosen have seemed almost purposefully out-of-touch, like some editor’s pet interests are being indulged, week after week after “really? A brand of napkins sold only in the Hamptons?” week. The topic of this past Sunday’s headline - Indulge Me On This - struck me as no different. But some of the writing itself didn’t disappoint, and as Dave Eggers has famously said, got right to the business of “speaking eloquently about what it’s like to be alive right now.” The indulgences – the beach, the Nutcracker, the right Scotch, a culinary treat, nice cardstock for greetings, the right pacifier of diet coke – were appropriate for the paper’s readership.

For my own readership and indulgence, I would say my own indulgences this Christmas Eve are really good wine, splurges on family and friends, an excess of ‘wasting time’ pleasure reading.

Black Friday Deals

So I was out yesterday in all the (subdued) early morning madness. I think I had a pretty good get, all in all... not the most frugal, but I got what I needed to get done very quickly, so we'll go with efficient, at least!

My Deals:
> A really nice sweater and dress shirt from Brooks Brothers for the Guy (Originally $200 / My Total: $110)
> ALL of my Christmas ornaments for my first tree (Originally $15 / My Total: $7.50)
> A pair of nice Isotoner gloves for me (Originally $18 / My Total $12)
> Two pairs of boots - an early gift from my Mom (Originally $160 / My Total: $80 for both!)
> A DVD for a friend (Originally $20 / My Total: $4)

Original Goods $413
Discounted for........... $214

Anywhere at Any Price

One of my favorite sections of the Sunday paper is the opening quotes section behind the first page of the Business section. Sometimes you really understand more from that kind of brevity than a long nuanced article on the same subject. Yesterday, my favorite was:

“You can get anything, anywhere at any price.” – Marshal Cohen, chief industry analyst for the NPD Group. After retail sales plummeted in October, stores were offering eye-catching bargains.

It is true that between all the channels for a good deal – from an in-store sale, outlet malls, online discounter, overstock.com, etc., etc., it does seem that this might be true. If you’re willing to compromise on a feature or two or look long enough, you can find what you’re looking for at a price you can afford. And now that deflation and economic impact on retail business are in the mix, it’s doubly true.

Wondering if everyone else would agree to that statement or if there are some things, some categories, where that just isn’t the case. What’s in your shopping bag that price variability hasn’t touched yet?

Earning / Shopping. Cool.

I recently purchased from one of the promos they give you on E-Miles and the airline miles did show up in my Northwest account, and on time to boot. So I wanted to give a Consumer Reports style shout-out to E-Miles. Sometimes I’m skeptical that I’m missing something in the fine print, but I needed this anyway, so it was a worthwhile experiment. If you haven’t heard of it – definitely sign up. They give you airline frequent flyer miles in exchange for your time viewing ad messages and quick 3-question surveys. Very worth it, even for just a break in the workday.

Secondly, I’ve gotten hooked on this website – Shop it to Me. A friend of mine met the guy who launched it out in San Francisco and it seems to be growing quickly and doing well. The premise is that you select the brands and stores you like up front, and then you get an email newsletter two times a week with links to individual products on sale. I’m not a big online shopper, but I do like it for one reason: gives you more visibility to what types of things are on sale if you do a little research (implication: a reminder that you should never really pay full price for things in the retail space). One setting I would adjust is the price ceiling for items they show you. I keep lowering mine, so I won’t be tempted by anything over a couple hundred bucks. And I invited enough friends to get a free $10 gift certificate to use on the site. Fun!

The Story of Stuff

I’ve been a bit spotty of late, but I just got back from a really great two-day conference for work on sustainability. I must admit that I’ve never been someone anyone would call eco-conscious. Sure I recycle and I’ve seen Al Gore’s power point, but I’ve never made demonstrable changes in my life. The past two days had their ups and downs, but the overall effect was profound. Not that I left all granola, in tears and vowing to make my condo carbon-neutral. But a lot of things clicked about my own views and thoughts on sustainability, and I left with a picture of the world that matches up with what I see everyday.

It links back to an episode I had a month or so back in San Francisco. When I told my friend over dinner that I wrote a personal finance blog, she looked a bit stumped and then ventured, “So you would write, say, ‘Oh man, I went to Starbucks today and had a latte and I really shouldn’t have.’ That kind of thing?” And while this is occasionally the scope of what I write about, I was deeply offended.

It hit that personal pride thing. My friend makes more money than I do. In college, this of course wasn’t the case, and we both came from the same middle class families. Her comment was an affront to my personal pride. She implied that I was miserly, watching my pennies, denying myself the latest trend in retail.

But the principles I espouse here are not just about reducing spending to be thrifty, but also about reducing the value you derive for yourself from buying stuff. To expound, stuff is just STUFF and I want to make sure that it never defines me. As nice as it is to have nice things, enjoy music and experiences that cost money, it is not me. Part of this new revelation came from seeing Annie Leonard’s Story of Stuff film. Here she investigates the consumptive patterns and rituals we observe America and the “work—watch—spend” cycle we get roped into. It’s true… as she says, the first thing President Bush told us to do after 9/11 wasn’t to grieve or hope or get involved, it was to BUY STUFF. He appeared in advertisements telling us to go back to our normal lives, go shopping, keep the economy afloat. No wonder all of our ego satisfaction comes from this same stuff.

The first reaction to watching the Story of stuff is to put a moratorium on all spending and to seek out sustainable everything, sustainable toothpaste and reading lamps and beach towels. But as Adam Werbach instructed us at the conference, it’s not about what you do or don’t do, but about how much, and to what degree you’re doing these things. In short, sustainability is about balance and it’s about being a perpetual student, learning where stuff comes from and how the choices you make influence the world. And that is the kind of non-granola vision that I can subscribe to. So I haven’t made any unattainable commitments; I’m just thinking about balance and how I can rethink my attachments to my STUFF. Believe me, I have them…

Fun Site: Bag Borrow or Steal

I know this goes against my whole philosophy of avoiding temptations to spend (even when it’s a sale, or an awesome deal, etc. etc.). However, when there are those real occasions (like the umpteen weddings I have this summer) where you want to look good or have that extra special something, it could be worth it to “rent” an expensive item vs. dropping tons of money on it. Bag Borrow or Steal lets you rent bags by the week or by the month, and it’s really not that expensive.

Definitely become a member, even if you are just borrowing one accessory. The one month membership fee of $10 usually makes up for the savings discrepancy between the member and guest rental rates. There are some awesome bags out there for super cheap (as long as you have the discipline to send them back after a week or so) and this is one where I think the return and enjoyment of using a designer bag outweighs the total cost. I think it seems like a really great business model as well, especially in these economic times where everyone is experiencing a bit of lifestyle inflation regardless of income (it always shocks me to see people who I know are not wealthy carrying around a brand name bag that you know is in the hundreds and thousands of dollars). I think it would definitely be a great “savings” for an event for which you would normally purchase new things.

Only thing to watch out for – pretty expensive shipping fees. Think ahead and make sure you’re only paying the standard rate vs. any of the speedier options.

Tricky Tactics

You know how it goes when you have one of those blow out weekends? You know, an unexpected expense comes up on a day you had already planned a big dinner, or a purchase you had planned ends up being double, and then next thing you know you’re uttering those deadly “what the hell, I’ve already blown it” words in your head and you find yourself at Macy’s or at the premium gourmet grocery store throwing things into your cart with abandon. Yeah, the worst. You feel defeated, so you assume the “why not” mentality. So I’ve been trying to think of a good tactic for when I get into those temporary spending ruts. I think the main thing is to get back in the right frame of mind. If you can do one small belt-tightening thing after a blow-out day or weekend, it might help swing the scale and remind you of the journey you’re on, and why you’re doing it. Like, maybe skip the wine at the big dinner or order a less expensive entrée. Or transfer more money into your savings.

On another note, the Guy invited me to a wedding in Chicago about a month from now, which is kind of a big deal. This is the first time I’ll be meeting all of his real friends, and I want to make a really good impression. His last girlfriend was really beautiful, and in contrast, I am… really smart. I’ve heard that his friends and family still refer to me only as the name of the Ivy league college I attended. As in, “So you’re still with Ivy girl, huh?” When you hear “IVY” you do not think beautiful. So I know I will want to go shopping and get a new dress (new shoes, jewelry, etc.) for the weekend. So I’ll try to tighten my belt even more between now and then to save up. Eating out is an easy one, so that’s probably where I’ll focus. Although it will be hard since I’m going to San Francisco this weekend to visit my best friend.

But the way I see it, this whole personal finance road to wealth is a lifelong marathon, not a sprint through your twenties. It’s all about getting smart and forming the right habits, not about one weekend where you mess up or even one event where you really need to splurge.

Insane Outrageous ?*%! Are-You-Serious Prices

I admit it, I’ve written before about how I’ve traded up and spent way more on certain brands or experiences, even though I know the actual product or service isn’t that much different than it’s non-premium alternative. Some of the pricey items on this new list of the priciest items made my jaw drop… and made me laugh a little bit at the absurdity of people who really think that these products are worth it. The article also talks a little about how it’s not really that insane – that companies can actually price that high and keep the business afloat. A few highlights…

Most Expensive:
Dessert – Serendipity Restaurant in NYC $25,000
Pair of Jeans – Earnest Sewn and Van Cleef & Arpels $11,300
Dinner – Almas Caviar at a London Hotel $2,000
Facial – Spa Radiance in San Francisco $750
Bottle of Water – Bling H20 $40

Trading Up and Down

Target has done a fabulous job of capitalizing on the true consumer insight that people like to trade down in some areas so that they can save their money and trade up in others. People can do both at retailers like Target. But they're also mixing the concept across retailers. Shop for home decor at Target so you can shop for handbags at Gucci. You get to value what you value, and both retailers win. As a marketer, I've thought about this a lot in my professional life. Brand loyalty is irrational behavior, and yet, one of the most normal behaviors in our consumer culture. However, I rarely think about it in my personal life.

Where I've Traded Down:
Shampoo / Beauty Products - I buy Pantene shampoo instead of Aveda now, and drugstore makeup for the most part. The only place I trade up in makeup is foundation which is MAC. $30 a pop is expensive, but I felt like it was time I looked a little more grown-up (I used to wear tinted moisturizer only).
Coffee - Even though I'm really a coffee fanatic, I drink enough of it that I can't afford the premium stuff, so I've been sampling lots of private label (Archer Farms and Lunds&Byerlys).

Where I've Traded Up:
Moleskine – These notebooks range from $10-20 and yet I purchase them religiously when I have all the notebooks and legal pads I could ever desire in our office supply cabinet at work!
Cascadian Farm Organic Jam – I am a breakfast person. This is my toast indulgence. The purest, most natural flavors, but at a huge premium to regular Welch’s.