Tag Archives: PayPal

Leave your cash at home. Let’s Beam!

August 22, 2015 The Shapsogh Sisters Leave a comment

Technology has been thriving to make things easier by concentrating one device with everything that a human being would use on a daily basis. If you are living in the 21^st century, then you must be aware of the fact that the most important part of our lives is having a smartphone that can get almost everything done for us. You have your contacts, calculator, reminders, to-do lists, books, music, clock, camera…and the list goes on, in one place. But let’s get into the fancy stuff that is slowly and gradually helping you get over the necessity of carrying a wallet.

Tech giants consider having a wallet a burden, which to be honest really is a burden, at least to me. Now, if you are thinking that the idea of a wallet has been replaced with a debit or a credit card then you are certainly wrong. What if I told you that there is a smartphone application that would let you ditch your wallet?

I was delighted when I first heard about it and most of the people who are sick of carrying a baby dinosaur sized wallet with them. Maybe it’s just a personal preference, but I certainly don’t like to have to carry it around whenever I need to grab a cup of coffee from the coffee shop next to my office or even go grocery shopping for the house at the end of each week. Fortunately, there is a way around this, you now only have to carry your smartphone with an application named, Beam, installed on it. Beam lets your phone act as your credit card, so you no more have to carry around your purse or wallet. Simply open the application and walk into a store that supports Beam. Open the application and with the touch of the screen you can pay for that of you wish to buy. You also get extra points whenever you pay using Beam, which you can redeem later on in the same shop, which we can all agree is always a bonus!

You must be wondering about the pay-offs while using the system and I cannot think of a single payoff that one has to compromise on for using the system, keeping in mind the smartphone device is now much more secure than a couple of years back. Beam is a very secure way of payments and you don’t have to wait in queues or don’t have to worry about an ATM machine not working properly, because you no longer require the use for keeping cash on you.

Beam is growing with a very swift pace, as of now it is being supported in 1200 stores throughout the UAE and the network is growing every month. You can now use Beam at Carrefour, Subway, ALDO, Tommy Hilfiger, Geant, Inglot, Nine West, VOX cinemas, Circle K, Chillis, Tim Hortons, Costa and more. I have already stopped carrying my purse and the extremely uncomfortable coins when going to these places, when are you planning on joining the cool club?

Download Beam Wallet from App Store or Google Play now.

~ Sondos Shapsogh

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Understand that NO marketing campaign is geared towards you

August 11, 2015 The Shapsogh Sisters Leave a comment

In today’s economy everyone is looking for the best deals and the best ways to save a dollar or two. Marketers have honed in on this demand and supplied an ample amount of “solutions” to help you save a dollar, at least in your own mind. However, if you observe and calculate the costs of these marketing ploys (for that is what they are) you will realize that your dollars are being taken from you. Understanding how these marketing schemes work is the first step in making money work for you and not you for working for money.

The Savings scheme

Consumers are looking for a deal. If something can be offered at a discount, rarely do they take the time to read the fine print or even analyze the practicality of the offer. For example: Wal-Mart recently posted an ad that said .10 off of every gallon when you purchase 3 cokes for $4.50*. Now when you looked at the * you find that there is a limitation that you only can use the discount up to 15 gallons. So this is not a deal. Here is why:

.10 times 15 = $1.50

If you have to buy 3 cokes for a total of $4.50 then you actually pay $3.50 for your “savings”. Even if you drink usually buy a coke the price difference does not add up. Most vending machines offer coke for about $1.00 to $1.25, so you still end up paying.

The bottom line is that you are always going to pay.

The pay for shipping scheme

Another common financial scheme is to lower prices and have you just pay for shipping or offer free shipping for a product. This is where things get a little tricky. You need to take note of where the product is being shipped from. In most cases, you are paying more than what it would cost to buy directly from the manufacturer. How is this so?

The rate of exchange (which we will cover in another blog) is a big cash cow for many online commerce sites. For example: If the U.S. Dollar is worth about 3.67 AED and it costs 1000 AED to manufacture and another 100 AED to ship, then the equivalent would be $275 US dollars. However, you will not pay that amount. You will pay $500 US dollars with free shipping. See how this works?

1000 +100= 1100

$500 converted = 1835 AED. They make a profit of 735 AED.

The Warehouse Price Scheme

I find it somewhat comical that there is a great draw to the “buy at warehouse prices” scheme. For one, anyone consciences of their finances should ask “whose warehouse is it?” A warehouse price just means that you are paying the same price that someone else paid to buy in bulk and sell it to you (before their mark up to you). Warehouse does not mean manufacturing price. What it does mean is that you will probably spend your money on a bulk item that is either defective or that will not sell easily in the market. Consider, if I have a highly profitable item that is in high demand, would I reduce the price and offer it to competitors or would I increase the sales price to yield a higher profit? Common sense would say that you would raise the price.

So what marketing is catered to consumer?

None, and that is the point. Do not be drawn in by the gimmicks of marketing with the premise of saving your money. Your best bet in investments is to seek local businesses when possible. Smaller businesses are ideal as they have to compete against the major corporations and therefore will offer a more competitive rate in order to stay in business. If you have to buy a product in bulk (for example if you are an Ecommerce store which offers products from other vendors) do a bit of research to see where the product is shipping from. You may come out cheaper buying directly from the manufacturer, especially if you can point out the excessive exchange markup.

Money makes the world go round. We have to use it to live, but at the same time we do not have to become a slave to it. It was once written “All things may be available to me but not everything is profitable for me”. This is very true when it comes to finances and in investments. You may have many options, but not everything which is offered is going to help you make or save money. Understanding how to invest your money from the ground level up to the higher ended investments and portfolios will make money work for you, not you for money.

~ Sondos Shapsogh

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Earn Money On The Go With ‘Task Spotting’

August 8, 2015 The Shapsogh Sisters Leave a comment

Earning money through the internet has grown to a very popular extent, which forced a lot of people on leaving their jobs and stay at the convenience of their homes making a very handsome amount of money on the internet. Freelancing is a new concept for several people and it is even useful for the people who intend to have some extra cash while still being affiliated with an organization on a full-time basis.

However, there are some clause that keep several people from jumping into freelancing. Firstly, you need a Desktop or a Laptop computer, which in several cases people dislike carrying around since everything can be dealt with using the smartphone. Secondly, you need expertise in a certain field, for example, you would either have to be a writer, a programmer, virtual assistant etc. If these two points have been keeping you from making extra cash, then you have landed yourself into the right place. Thanks to technology and some genius people who invented the concept of “Task Spotting”.

How to become a Task Spotter?

Task spotting is a concept that marked its origin from the UAE, the basic idea behind task spotting is that you just simply have to download an application that is available on both the major app stores, namely, the Apple Store and Google Play. After downloading and installing the application on your smartphone, you will be required to complete your profile by entering your date of birth and some very common information about yourself, that is, you have just stepped into the arena for Task Spotting.

How does Task Spotting Work?

After building up your profile on the application you would be required to input your location, you can either pick missions/tasks from your current location or you can choose between the missions that are irrespective of the location. The tasks are very simple and they can be easily completed, without the use of any technical knowledge or skills, which qualifies any person who has a smartphone and can use the application, no prior experience is required for making money using Task Spotting.

If you are lazy enough to pick a mission every time you travel around the country, you have still got a solution, the application on your smartphone is smart enough to check your current location and allow you to set a radius around your current location in which it can sniff missions within that radius. So basically, whenever there is a new task within the preset radius, you will be automatically informed through a notification on your smartphone.

How will you get Paid?

With task spotting, you are never limited with choices. The application allows you to link your PayPal account with the application and you can transfer your funds to your PayPal account with the help of a touch. However, you are not just limited to your PayPal account, you can also get paid in hard cash by visiting one of the 130 payout points across the UAE. Task Spotting also lets you donate your money to the charity that you are supporting, and that is too directly done from your smartphone application.

~ Sondos Shapsogh