Lastly, in Thrive, how to cut out food waste and save money in the process.īy buying everything online, we’re driving that business, that hardware store, some other businesses, out of business. In Mailbag, we hear from a listener who is wondering if she should rollover funds from her tax-deferred accounts into her Roth accounts, and we hear from a woman who is wondering if she should sell her real estate investment, and is curious how to find a financial planner or tax advisor who has experience advising people on rental income. We also dive into whether or not Amazon is going to “take over the world,” (which was a running joke for most of 2020) and whether any amount of encouragement to “buy local” will ever inspire us to give up the convenience of next-day delivery. He also shares insight into what the instant gratification of an Amazon order - the concept of wanting something and then having it show up at our doorsteps the very next day - has done to our brains. Alec weighs in on how we can do it if we feel that our spending is reaching a negative level, or if we just want to shop local more often. Thankfully, there are ways we can break our one-click habits. (Want to find your annual spending? Go to Account, then scroll down the page to > Ordering And Shopping Preferences > then finally to Download Order Reports > then select the time frame you want to look at.) Yes, I was disappointed that I had more than a $1,000 increase in Amazon spending in just a year’s time, but so did millions of Americans as the pandemic forced us to work from home, live from home, and venture out to our local stores less frequently than before. And that’s with me shopping local whenever possible. In preparation for this show, I took a deep dive into the backend of my Amazon account and found I spent a total of $2,482.69 in 2020, up from $1,472.48 in 2019. He also discusses how our personal finances are impacted by the ease of one-click ordering. Listen in as Alec takes us through “ the whole ecosystem of today’s America, from the billionaire at the top, to the cardboard box maker at the bottom.” He describes what Amazon’s impact on the world really looks like, environmentally, economically, and socially. This week, he joined the HerMoney podcast to discuss what Amazon is really doing to America, our hometowns, our wallets, and even our brains. Those stats are just some of the incredible numbers revealed in the new book, “ Fulfillment: Winning and Losing in One-Click America,” by author Alec MacGillis, who is a senior reporter for ProPublica and an award-winning journalist and author who previously worked at The Washington Post, Baltimore Sun, and The New Republic, among others. The company also added 50% more warehouse space, its stock nearly doubled, and the personal wealth of Amazon’s founder Jeff Bezos increased by $58 billion… Amazon was already huge before COVID, controlling more than 40% of all e-commerce, but in the past year, its sales have grown by more than 40%, it has added more than 400,000 employees in the US, and now employs almost 1 million people. Over the last year, one of the main places I’ve been spending - that I think we’ve all been spending - is Amazon. When we have no barriers to our spending - that barrier being walking across the room and fishing our credit card out of our wallet - we’re much more likely to spend without thinking, without ever really analyzing why we’re “adding to cart” and whether we really need a particular thing. There’s a reason one of HerMoney’s top pieces of budgeting advice is to remove your stored credit card information from your favorite apps. And it seems like once a month there’s a viral cute-yet-disconcerting story about a kid who spent $2,000 buying digital armor in his favorite game, or a child who ordered 400 of her favorite popsicles after getting overly chatty with Alexa. According to a recent Adweek survey, 41% of Facebook users said they’ve purchased something after seeing it advertised, and 49% of TikTok users said the same - there’s even a hashtag for it: #TikTokMadeMeBuyIt. While our favorite shopping a pps are to blame, social media is just as big of a factor. Let’s be honest - we’ve all grown to love the convenience of the “one click” world we live in today… I mean, who doesn’t love giving a quick love to your bestie on Instagram? But sometimes having everything at our fingertips, instantly, can be a problem.Īmericans spent $143 billion - yes, billion - on mobile apps in 2020.
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