Dafuq Is Interest? And How Does It Work For the Forces of Darkness?

Dafuq Is Interest? And How Does It Work for the Forces of Darkness?

Here at Bitches Get Riches, we’re constantly extolling the virtues of compounding interest, which Albert Einstein, Mother Theresa, and Nelson Mandela all deemed the Eighth Wonder of the World.* This might lead personal finance novices to believe that interest is universally a great and wealth-building thing. Not so, dear readers. Not so.

Just as interest can work for you, contributing mightily to your financial goals over a long period of time, so it can spell your very doom. DOOM.

Like a monetary Dr. Jekyll and Mr. Hyde, interest has both your best interests (see what I did there?) and your utter financial destruction at its heart. Let’s explore its dual nature with a healthy dose of hyperbole, shall we?

*Not intended to be a factual statement

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If you want to eat the rich, stop feeding Amazon.

If You Want To Eat the Rich, Stop Feeding Amazon

I’ve been waiting for years for Americans to stop feeding Amazon. We had a good chance last week. Amazon employees in Bessemer, Alabama had the opportunity to form a union. But it didn’t go well. It wasn’t even close. By a margin of two to one, warehouse workers voted against it.

It’s a really disappointing outcome. But it’s also not surprising. Labor unions are weak in America.

You know who isn’t weak? Amazon.

The world’s largest retailer is one of the most powerful entities on the face of the planet. And their union-busting policies are robust, well-funded, and prodigious.

According to many reports, they paid $10,000 every day to anti-union consultants who created an environment of pervasive secrecy, fear, and misinformation. Amazon spies on its employees and fires labor organizers. Bessemer workers were bombarded with anti-union messages in every private space from bathroom stalls to their personal phones. They forced their employees to attend several hours of anti-union propaganda meetings every week filled with ominous warnings about the “union threat” to their jobs. And they fired organizers, made fake social media accounts, and even changed traffic light patterns. They even flat-out told workers they’d lose their jobs if there was a union—all for the single purpose of discouraging the workers from using their constitutional right to organize with each other.

And it worked.

I knew it would. Story after story has made it incredibly clear that Amazon doesn’t give a flaming hot shit about the well-being of their employees. To an extent that is downright cartoonishly villainous! And they don’t have to, because they won’t face any consequences for it.

No legal consequences, because everything they’ve done is perfectly legal. 

And no business consequences, because despite everything, you’re still shopping there.

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Ask the Bitches: What's the Difference Between Credit Checks and Credit Monitoring?

Ask the Bitches: What’s the Difference Between Credit Checks and Credit Monitoring?

The world of personal finance is full of terms designed to confuse and waylay the innocent. Yet you are a beautiful and mysterious adventurer on the exciting journey of life! You do not have time to parse the different meanings of seemingly synonymous financial terms like “credit checks” and “credit monitoring.”

Fortunately, we’re a coupla’ nerds with nothing better to do.

Recently, an anonymous follower (we’ll call them “Pudding Cup” because I assume that, like pudding, they are both sweet and smooth) asked:

Dear Piggy and Kitty, I have a question. I just got an email from the auditing office of my state saying that the unemployment filing host “Accellion” was hacked and they don’t think anything happened, but are offering a free year of credit monitoring. I have no idea what that would do or how I would use it to make sure nothing bad happened? Also doesn’t monitoring your credit (somehow?) make it worse? Would this be helpful or not really?

In short, Pudding Cup has mixed up two distinctly different concepts to do with credit: credit monitoring and credit checks. I’ll detangle the two below.

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