Regarding making money, I'm assuming that it'll essentially act as a lead gen company, like Mint. If one of the ways to get out of debt faster is to transfer your balance to a card with a lower interest rate, and ... hey! look at this! we have three cards right here that will save you money each month ... it seems like it'd be an easy sell. In fact, I think the leadgen opportunity is even greater than Mint's, as these are people actively looking to change their debt situation, rather than people passively interested in what their money is doing.
Yeah, it's possible, but since they've taken the extreme moral high ground here (and in the rest of their branding), they'll have to be careful about which offers they... offer.
Indeed. I know of someone quite poor that paid $500 to have his credit repaired. They got around the laws by calling it education. Most of it amounting to having him send out form letters that looked like fraud to me. The letters would say debt wasn't his. He didn't seem to read or understand any of it, but happily sent out the letters. I wonder what the court that had a judgement against him for child support thought on getting a letter saying it wasn't his debt?
When someone says the little things don't matter, tell them that those who'd bought Apple stock in the early 2000's instead of a pack of cigarettes or 6-pack of beer could have ended up with a couple of hundred dollars for each one instead.
It's a major adjustment, but people should live within (below actually) their means. Unheard of to do without cable tv, cook your own meals from basic ingredients, or give up alcohol or smoking? Some people need a serious reality check.
I'm extremely suspicious of a for-profit venture to "help" consumers. Just what is there that a consumer can't get or do for free? It seems many consumers have fallen victims to so-called help. The article mentions plenty of easy to relate to grief situations, but is very short on solutions.
Remove social stigma for debt? I'd say that depends on the circumstances. Some would have made better choices if they'd seen MORE social stigma attached.
Talk to people about paying rent, and few are very happy about it, but let them rent money.....
>Unheard of to do without cable tv, cook your own meals from basic ingredients, or give up alcohol or smoking? Some people need a serious reality check.
I think you underestimate how difficult some of these things are.
Cooking meals is a non-trivial skill, many people don't have the time or money to learn, they can't afford to "experiment" with cooking, because if their children don't want to eat what they make when experimenting then the children are going to go hungry.
Cable TV is often the primary form of entertainment, and is much cheaper than going out or the most popular form of "free" entertainment, unprotected sex.
Cigarettes are addictive, telling a smoker to stop smoking is no more effective than telling an obese person to stop eating.
Cooking meals is a non-trivial skill, many people don't have the time or money to learn
Saving money over eating out all the time is easy. Canned food and spaghetti are trivial. Most veggies are fine totally raw. Rice and veggies can be done brainlessly with a rice cooker. A George Forman grill and a giant bag of frozen boneless skinless chicken thighs is cheap, healthy protein.
Being able to cook creative homecooked meals is hard, sure. Cheap foolproof meals are easy, though.
they can't afford to "experiment" with cooking, because if their children don't want to eat what they make when experimenting then the children are going to go hungry.
Kids get to refuse eating what they're served? News to me. I was sixteen years old before I was able to get away with refusing broccoli and brussels sprouts. I was a pretty disobedient kid, too. So I don't really understand this argument. Some parents are so spineless they'll cave in to a kid's choice of meal?
Cable TV is often the primary form of entertainment, and is much cheaper than going out or the most popular form of "free" entertainment, unprotected sex.
Unfortunately this is a major cultural problem. Fortunately, almost every other consumer startup is solving this. The internet contains Facebook and YouTube for free, and Netflix for far, far cheaper.
Cigarettes...are addictive, though. One of the most addictive drugs ever. I have no argument with you on that point.
> they can't afford to "experiment" with cooking, because if their children don't want to eat what they make when experimenting then the children are going to go hungry.
Cooking meals is a non-trivial skill, many people don't have the time or money to learn, they can't afford to "experiment" with cooking, because if their children don't want to eat what they make when experimenting then the children are going to go hungry.
Cooking is easy. Saying it's hard it just an excuse. Get some meat, frozen veggies and potatoes/rice/bread and you can easily make a basic meal in 30 minutes. And really, you're talking about the kids going hungry when food is on the table? Growing up I learned quickly to eat what my mom cooked or 'go hungry.'
