Diana Clement's article in NZH a must read for first home buyers

[donna]

Hi All,

Here's a great article from NZH's Diana Clement. It sums up why so many Kiwis are without assets, savings and struggling to get a home.

Stop being a sucker

We're suckers for branded products - happy to pay on average 11% more for them while 60% of Swiss buy non-branded products.

I highly recommend reading the article, it's short and a reality check of our immaturity as a nation etc.

cheers,

Donna

[eri]

yes

like her views

Diana for the education ministry!

[Davo36]

Well retailers spend all their time and effort building and maintaining their brands.

They apply a lot of science to it too.

They spend billions working out what we (think) we want, how we purchase etc. etc.

So we're not really being suckers, we're being manipulated.

But it would be very very hard not to be in today's society.

[muppet]

Manipulated suckers.

[Davo36]

Manipulated suckers.

True true.

As an example, McDonalds do research into what 7 year olds dream about. Then they market to that. So for instance, around this age they're often thinking about good vs bad and working that out in their little brains. So along comes Ronald McDonald vs The Hamburgler...

[eri]

sadly

it's follow the money

degree in social work $35-55k?

degree in marketing $55-155k?

but what can you do?

life has always required you to "grow-up"

read the fine-print

spend less than you "earn"

[Davo36]

But the problem is education inflation eri.

You don't need a degree to do most jobs, but you won't be able to secure that job unless you have the degree.

So unless you choose a trade or what have you, you will need that qualification to gain employment.

Which didn't used to be the case. - How to write that. I say that all the time, but the 'used' doesn't look right written down.

[Aston]

Which didn't used to be the case. - How to write that. I say that all the time, but the 'used' doesn't look right written down.

-> Which wasn't always the case.

[eri]

for grammarians

https://www.google.co.nz/search?q=used+tobe&oq=used+tobe&aqs=chrome..69i57j0l5.3281j0j4&sourceid=chrome&ie=UTF-8#safe=off&q=used+to+be

[Perry]

More Underarm Bowling

On that page, another linked really article caught my eye.

Australian Government declares war on big banks
14 May 2017

Isn't it odd that governments think that costs wont be passed on? Or can be prevented from being passed on?

The A$6.2 billion the government will take from the banks in the next four years won't come from nowhere - somebody will have to pay. That somebody will end up being most Australians. Banks will return lower profits and dividends and hence hit shareholders. They will also try to recoup the tax with higher fees and interest charges, which will hit customers. Bank executives suspect that the levy was only dreamed up a week before the budget, and given how little detail government officials have been able to provide about the new levy, they might be right.

At a two-hour meeting between bank executives and Treasury officials last week after the budget, the officials were unable to answer most of the questions the banks asked them about the workings of the tax. In fact, it seems that the officials didn't know exactly what will be taxed under the new levy.

[Wayne]

I'm lucky - I buy on value rather than brand!

[donna]

Umm I can be a sucker for brands and sometimes I reckon that's okay if it give you immense joy e.g. buying an item you've saved for and really want. I must admit I'm going to alter my approach when buying the stables in online grocery shopping. I'm going to spend a bit more time researching the alternatives to the 'brand name' etc.

Supermarkets as you say spend $$millions on the big brands placement in store - I will find out if they (we only have one option for online shopping = Countdown) do the same with their online shopping system.

cheers,

Donna

[Wayne]

Consumer often do good tests on generic verses name brands

[donna]

Well I did the online shopping today and they're pushing the branded product. I might be wrong but that was my experience. The 'you might like' which is their selection was all brands and that comes up first. Then under that there's a section that offers a dropdown box that shows options including low to high price.

So the consumer has to be in the know and actively hunt down the non-brands which is time consuming.

cheers,

Donna

[Nick G]

When you said sucker and brands I thought this might be about Gib.