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    Hassle Factor

    How does the Hassle Factor affect your finances? For me, I have to weigh the "hassle" of the time/effort invested versus perhaps paying a bit more? For instance, I used to shop for "deals". Well, I realized that it took a lot of time and energy. And, in reality, I probably spent more money because I was putting my face in front of more merchandise. I realized that most everything I need and want can be obtained at a few stores instead of going to 10 different stores. I find my life a lot more pleasant now. I do think the net result is saving money because of less merchandise exposure although I may not be getting the 'best" deal I could have had I shopped around. The same applies with some DIY things. I used to have more energy to tackle projects but now I would rather just pay somebody. I value my free time and am OK with that. How do you manage the Hassle Factor in your life?

    #2
    A couple financial ways:

    1. I keep all my money at Fidelity. 401k from work is there, so I just moved everything there. Checking, savings, 2% cash back credit card, taxable brokerage, IRAs. Every dime of my money is at or flows through Fidelity. I could get better savings rates at Ally. I could get 2.5% cash back at USAA. But it is nice logging in and seeing everything in one spot. I even asked my wife to stop using the 5% cash back Target card and the Kohl's and Macy's cards. That means I have to pay those cards and that is an inconvenience. "yeah, but I got 25% off!" On a $52 purchase that I didn't see and then got a $35 late fee because I hadn't set up autopay on that card. No thanks.

    2. I hold 3 funds in my retirement accounts: Total US stock, Total International Stock and Total bond. All with 0% expense ratios. My 401k is all bonds. My IRAs are all stocks. I use my taxable account to manage my asset allocation. Hard to get much simpler than that.

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      #3
      I will gladly pay more for convenience and no hassle purchasing, services, etc.

      Comment


        #4
        Financially, I moved all my stuff to Stifel Nicolaus. When my dad died, that is where his accounts were. I had random accounts all over the place. I was so impressed the lady at Stifel who was helping my mom as a widow find her way forward, that I moved all of my accounts over to her. She COULD have really done a snow job on my mom who was absolutely clueless. However, she really worked with her and helped her understand the finances. When you find a person like that, to me that is gold. And, my accounts are doing very well so quite happy. And, if and when we pass away, it will be a simple matter for our children to locate our accounts.

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          #5
          We definitely do a lot of things to minimize hassles. When we were first married, we used to keep a price book for groceries with prices for items we bought regularly from several area supermarkets. We'd clip coupons, watch for sales, and head to certain stores to buy certain items. Now, we pretty much buy everything on my weekly trip to Wegmans. Overall, they have great prices. Could we get a particular item a few cents cheaper somewhere else? Sure, but it's not worth the effort.

          Of course, we're also in a very different place financially than we were back then when we were newly married, had just bought a house, just had a kid, had a car loan and 100K in student loans. Watching every penny was a lot more important. Now we are debt-free and save over 40% of gross income. If we pay 20 cents more for a gallon of milk, it really doesn't matter.

          A corollary to hassle is also inertia. We have a number of investments that we've had for many years, as long as 28 in one case. We no longer add to any of them but just haven't made the effort to liquidate them and move the money into our Vanguard account. Once I retire, I really want to consolidate as it's much easier to keep track of, as corn18 mentioned.
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

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            #6
            Definitely. We pay folks to handle things for us that I/we could do, but prefer not to do. We pay a local guy to mow our lawn, and a bi-weekly housecleaner. They make life simpler for DW & I. There are other ways that we could optimize how we use our money, but choose not to (whether intentionally or out of the inertia that DS mentions). I still pay attention for deals on stuff we plan to buy anyway, but I won't go wildly out of my way to hunt them out. In my view, one purpose of having money is to enable us to trade money for time. I could spend a couple hours every week mowing my lawn and cleaning the toilets, but I'd rather spend it doing other stuff with/for my family, or for myself.
            "Praestantia per minutus" ... "Acta non verba"

            Comment


              #7
              We generally try to limit what we buy. When we do, we gravitate toward high-quality, long-lasting stuff even if it costs a premium, so we only have to buy it once. We consolidate and make efficient use of our financial accounts and banking/investment institutions. We do a fair amount of our own services - yard maintenance, simple vehicle maintenance, house cleaning, etc. Delivery of groceries, food, etc, we generally don't except for occasional pizza, and a little bit more during this pandemic. So, hassle where we're comfortable and willing, but generally value our time more than searching for the perfect deal. I've long maintained that good finance strategy does not always equate with having to be cheap.

              I always pay with a credit card so I don't have to carry coins or spending cash or make trips to the ATM.

              No black Friday shenanigans, ever. No store credit cards.

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                #8
                Originally posted by ua_guy View Post
                No black Friday shenanigans, ever.
                The past week, so many people asked me if I was excited about Prime day. Uh, nope. Not even a tiny bit. I didn't even initially know that it was occurring. We are Prime members and we shop on Amazon frequently, literally a few times per week, but we only go there when there is a specific item we need. We don't go shopping or browsing. I'm not even sure how to browse. I open the app, type in what I'm looking for, drop it in my cart and checkout. In fact, in addition to having low prices, Amazon saves us money by keeping us out of stores where we might be tempted by other items. Here it's just what we came for and nothing else.
                Steve

                * Despite the high cost of living, it remains very popular.
                * Why should I pay for my daughter's education when she already knows everything?
                * There are no shortcuts to anywhere worth going.

                Comment


                  #9
                  Originally posted by disneysteve View Post

                  The past week, so many people asked me if I was excited about Prime day. Uh, nope. Not even a tiny bit. I didn't even initially know that it was occurring. We are Prime members and we shop on Amazon frequently, literally a few times per week, but we only go there when there is a specific item we need. We don't go shopping or browsing. I'm not even sure how to browse. I open the app, type in what I'm looking for, drop it in my cart and checkout. In fact, in addition to having low prices, Amazon saves us money by keeping us out of stores where we might be tempted by other items. Here it's just what we came for and nothing else.
                  What's Prime day? Like Cyber Monday promo? I'm not a Prime member, and even with a student discount I can't justify it. Plus I don't stream. Yes, I may order off Amazon every few months, but I can wait the extra days for free shipping. Plus I'm trying to limit what I order from them if I can't find locally.

                  When it comes to deals like black friday or holiday promotions, that doesn't inspire me to spend more for deals. If I want something, I'll add it to my cart and wait a week or two if I still want/need before purchasing (groceries and tools are the exception). In the meantime I'll do the research on pricing of the item.
                  "I'd buy that for a dollar!"

                  Comment


                    #10
                    Originally posted by cypher1 View Post
                    If I want something, I'll add it to my cart and wait a week or two if I still want/need before purchasing (groceries and tools are the exception). In the meantime I'll do the research on pricing of the item.
                    That's my favorite method of controlling impulsive, unnecessary purchases. I'll let it sit for a couple weeks to marinate while I decide how needful it really is.

                    I don't much like or follow the hyper-marketed doing days... I was aware of prime day, but didn't really need anything, and didn't pay any attention to what was happening with it. I'll normally look around briefly at black Friday stuff, but if there's nothing I'm looking for, I won't waste my time on it.
                    "Praestantia per minutus" ... "Acta non verba"

                    Comment


                      #11
                      Originally posted by cypher1 View Post

                      What's Prime day? Like Cyber Monday promo?
                      Yes, Prime day is a day when Amazon runs a bunch of specials and discounts. I really can't tell you too much about it as I've never participated, but my sense is that it's sort of like Black Friday sales.
                      Steve

                      * Despite the high cost of living, it remains very popular.
                      * Why should I pay for my daughter's education when she already knows everything?
                      * There are no shortcuts to anywhere worth going.

                      Comment


                        #12
                        Originally posted by disneysteve View Post

                        Yes, Prime day is a day when Amazon runs a bunch of specials and discounts. I really can't tell you too much about it as I've never participated, but my sense is that it's sort of like Black Friday sales.
                        Oh yeah, that sounds familiar now as coworkers used to mention it in the past. Basically just another excuse to get consumers to spend more before the holidays. Reminds me of an episode of the Simpsons when corporations come up with a new holiday called "Love Day" in August to generate sales.

                        As for hassle factor, one example is I'm going to start paying my brother (has side business for tree trimming, leaves removal) to clear out the bulk of leaves I get each season. While my house is being rented out, I still take care of the lawn in the summer (I actually don't mind it), but I hate dealing with leaves removal as I get so many. I still deal with 90% of the house maintenance, but with my busy schedule I'm more than willing to pay someone else for that particular task. I could easily spend a good chunk of my weekend doing, but I value my time more.

                        Another example I see is friends trying to save 5-10 cents per gal on gas by driving 15+ minutes out of their way on a 12-15 gal tank. Sorry, but if it takes more than 10 minutes to go get gas, not worth it IMO. Even if they're saving $1-1.5 per fill up.
                        "I'd buy that for a dollar!"

                        Comment


                          #13
                          I ended up back with amazon prime because of my mom. She really wanted amazon prime so I signed up but honestly we don't use it much. She's used it a lot though. That being said hassle? I shop at costco. Is it the best? Not exactly but I prefer it to everything else and it is 1.3 miles from my house. So I get gas, food, adn everything else. Second I shop at safeway because that's the closest grocery store. Best deal? Nope but I"ve never seen an aldi's. I could do Fred Meyer which is kroger but that's further. Safeway is 1.5 miles on the next block as costco. So I don't bother clipping coupons anymore for toilet paper, paper towels, etc. I also don't shop sales but I don't impulse buy. If I were on a really strict grocery budget then I would but it's not worth the hassle. What's easier? Not going out to eat and spending it on groceries. That $100 for a meal out is a lot of food and A LOT less hassle than budgeting $900 for groceries instead of $1000/month.

                          We also have a yard guy and housecleaner. I pay them no matter what. I hate deep cleaning and my DH doesn't have time and isn't that into yard work. It would have also been cheaper to have our Office shed built by someone else even to the tune of $50k. But that's a hobby project so I guess it's fine. I notice as we make more money we outsource a lot of stuff.

                          I did buy a lot on prime day. I bought a roomba (amazon $199). I bought a food processor and spice grinder, and slow cooker. Stuff I've been waiting for to go on sale.
                          LivingAlmostLarge Blog

                          Comment


                            #14
                            Originally posted by corn18 View Post
                            A couple financial ways:

                            1. I keep all my money at Fidelity. 401k from work is there, so I just moved everything there. Checking, savings, 2% cash back credit card, taxable brokerage, IRAs. Every dime of my money is at or flows through Fidelity. I could get better savings rates at Ally. I could get 2.5% cash back at USAA. But it is nice logging in and seeing everything in one spot. I even asked my wife to stop using the 5% cash back Target card and the Kohl's and Macy's cards. That means I have to pay those cards and that is an inconvenience. "yeah, but I got 25% off!" On a $52 purchase that I didn't see and then got a $35 late fee because I hadn't set up autopay on that card. No thanks.

                            2. I hold 3 funds in my retirement accounts: Total US stock, Total International Stock and Total bond. All with 0% expense ratios. My 401k is all bonds. My IRAs are all stocks. I use my taxable account to manage my asset allocation. Hard to get much simpler than that.
                            That sounds like a dream. How do you handle misc checks, etc.? Deposit via your telephone?

                            Comment


                              #15
                              I've gotten a lot better at not sweating the small stuff as my net worth and income has grown.
                              It's probably just part of the natural progression of having more money and choices in life.
                              Sometimes it's just easier and faster to pay a little more and not worry about it

                              Brian

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