Schedule Changes: Annoyances and Opportunities
Parents-in-law's visa delays meant a whole slew of changes: change of their international flight tickets, domestic flight tickets upon their arrival, changes to moving logistics...
Could others airlines afford the Southwest model? As long as one does not take the flight(s), those remain as credits for them? Given the recent hikes in random fees, perhaps not... the bigger question is does the Southwest model work in long haul flights, if people just cancel or change their flights without paying that penalty whenever they please? I fly Southwest when I can because I love the flexibility. Is it good business?
Sunday, May 02, 2010
Monday, March 29, 2010
Where do You Spend Your Time and Money?
Not surprisingly, many people spend lots of money on "E"... education, entertainment, eating, enjoying, earning, etc. Recently I came across a friend spending quite a bit of money on a personal coach, and another friend spending time recruiting others to join a financial investment group. Whatever happended to plain food, shelter, and clothing? Do we all have enough money saved up (our balance sheet) to ensure sufficient basic needs should something happen to our income?
Most don't think about retirement until retirement is here. This can be an ugly transition if not enough is saved up. With the economy still fragile, more and more articles on retirement and savings have popped up lately, including this WSJ article: http://online.wsj.com/article/SB126912089798665247.html?mod=WSJ_RetirementPl
I smiled when I checked my numbers as they appear to be on-track for retirement (assuming I keep working and saving), then frowned when I realized that I had to divide the number by two to account for both my husband and I... and subtract more if and when we have children.
Friends, before you make the next big purchase, or spend a large chunk of your time doing something, check your numbers and see if you still want to go ahead.
Not surprisingly, many people spend lots of money on "E"... education, entertainment, eating, enjoying, earning, etc. Recently I came across a friend spending quite a bit of money on a personal coach, and another friend spending time recruiting others to join a financial investment group. Whatever happended to plain food, shelter, and clothing? Do we all have enough money saved up (our balance sheet) to ensure sufficient basic needs should something happen to our income?
Most don't think about retirement until retirement is here. This can be an ugly transition if not enough is saved up. With the economy still fragile, more and more articles on retirement and savings have popped up lately, including this WSJ article: http://online.wsj.com/article/SB126912089798665247.html?mod=WSJ_RetirementPl
I smiled when I checked my numbers as they appear to be on-track for retirement (assuming I keep working and saving), then frowned when I realized that I had to divide the number by two to account for both my husband and I... and subtract more if and when we have children.
Friends, before you make the next big purchase, or spend a large chunk of your time doing something, check your numbers and see if you still want to go ahead.
Sunday, February 28, 2010
Buying New Car in 72 Hours
Did the dealer take a loss on our new car transaction? I guess there may be an element of truth as the price (before taxes) was below invoice and according to some claims out there (http://blog.truecar.com/?p=107).
While sitting at the Berkeley library waiting for the car brakes to be checked for the nth time (the stubborn high pitch noise just would not go away) last Sunday (2/21), J and I chatted on Skype and realized that at the rate I'm driving, I'm super accelerating the repairs/maintenance schedule for the car. We decided to buy a new car at that moment, and agreed to do it fast. It's last week of Feb, so there's got to be some promotion going on. After some web research on Edmunds.com, kbb.com and test driving at a dealership that very night, we were down to a couple of models, with the occasional light hearted comment of "should we consider xyz model as well?"
By Wednesday early morning, I was half heartedly trying to convince J to consider mini cooper while we were looking at accessories we'd like on a Honda Insight. By 3pm, we had an offer accepted and were ready to get on our way to pick the car up. Note all this was done via the phone and web, during breaks/evenings while not missing a beat at work and school!
Come to think of it, our house buying processes were just as fast and efficient, though there were more elements outside of our control in that case. The learning from these: decide whether to buy, perform focused research, talk self out of regretting later by understanding how prepared I am financially for this decision, and the conditions that would not be acceptable (and be willing to walk away from something) and go at it.
In the mean time, I'm off enjoying my Insight!
Did the dealer take a loss on our new car transaction? I guess there may be an element of truth as the price (before taxes) was below invoice and according to some claims out there (http://blog.truecar.com/?p=107).
While sitting at the Berkeley library waiting for the car brakes to be checked for the nth time (the stubborn high pitch noise just would not go away) last Sunday (2/21), J and I chatted on Skype and realized that at the rate I'm driving, I'm super accelerating the repairs/maintenance schedule for the car. We decided to buy a new car at that moment, and agreed to do it fast. It's last week of Feb, so there's got to be some promotion going on. After some web research on Edmunds.com, kbb.com and test driving at a dealership that very night, we were down to a couple of models, with the occasional light hearted comment of "should we consider xyz model as well?"
By Wednesday early morning, I was half heartedly trying to convince J to consider mini cooper while we were looking at accessories we'd like on a Honda Insight. By 3pm, we had an offer accepted and were ready to get on our way to pick the car up. Note all this was done via the phone and web, during breaks/evenings while not missing a beat at work and school!
Come to think of it, our house buying processes were just as fast and efficient, though there were more elements outside of our control in that case. The learning from these: decide whether to buy, perform focused research, talk self out of regretting later by understanding how prepared I am financially for this decision, and the conditions that would not be acceptable (and be willing to walk away from something) and go at it.
In the mean time, I'm off enjoying my Insight!
Tuesday, February 16, 2010
Investment Opportunity?
One of the short sales I was following recently closed and another one is pending. Is it still a good time to buy and invest (interest rates are still low and prices have been flat)? A friend offers his step-by-step experience for his local market at http://utahdean.com/. My assessment at this point is unless I spend the time to look for gems and develop a network of people to help (as Dean does), I may be better off saving myself some trouble and put money in REIT funds? Am I missing something?
One of the short sales I was following recently closed and another one is pending. Is it still a good time to buy and invest (interest rates are still low and prices have been flat)? A friend offers his step-by-step experience for his local market at http://utahdean.com/. My assessment at this point is unless I spend the time to look for gems and develop a network of people to help (as Dean does), I may be better off saving myself some trouble and put money in REIT funds? Am I missing something?
Monday, February 15, 2010
TMA - total mass allowance
Recently heard baggage fees are going up again: http://www.airfarewatchdog.com/blog/3801089/airline-baggage-fees-chart-updated/, and also came across a friend's blog on "Unbundling of Baggage Fees": http://unbundling.wordpress.com/
This reminds me of my experience and conversations on Ryanair's everything charged a-la-cart model. I like my stuff, and carry my essentials everywhere I go. If we buy plane seat by the number, wouldn't it make sense for each seat to have allotted weight... not all bags are packed equal, some little carry-on's weigh a ton. Wouldn't be easier for the airline to manage load/balance by having everyone checking in stuff to step on the scale with their stuff (under x kg/lb is included with the seat purchase, and extra charge after that)?
Recently heard baggage fees are going up again: http://www.airfarewatchdog.com/blog/3801089/airline-baggage-fees-chart-updated/, and also came across a friend's blog on "Unbundling of Baggage Fees": http://unbundling.wordpress.com/
This reminds me of my experience and conversations on Ryanair's everything charged a-la-cart model. I like my stuff, and carry my essentials everywhere I go. If we buy plane seat by the number, wouldn't it make sense for each seat to have allotted weight... not all bags are packed equal, some little carry-on's weigh a ton. Wouldn't be easier for the airline to manage load/balance by having everyone checking in stuff to step on the scale with their stuff (under x kg/lb is included with the seat purchase, and extra charge after that)?
Sunday, February 14, 2010
In light of all the flight cancellations last week in anticipation for the big snow storm in the east coast, I wonder if there would be a way for the airline to play matchmaker for customers who would willingly give up seats to those who really need them... for the right price.
In my specific case, due to the cancellation of BOS->OAK 7:05pm flight on 2/11, I was rescheduled to 2/13 (thanks to AMEX travel that was on hold with Jetblue for about an hour). I proceeded to try flying standby on anything and everything on 2/11 without success to get back in time for a Lunar new year celebration on 2/12. I ended up purchasing a ticket with United (BOS->LAX) and another one with Southwest (LAX->OAK) to get back in time.
With this unplanned flight change and additional night of hotel stay, the extra cost ran ~$1200 for the return trip alone. As I checked in for my United flight in BOS at 5:45am on 2/12, the line for Jetblue extended all the way to security check areas.
This is the ultimate logistics nightmare: there was very little snow in Boston but much of the city was shut down on 2/10 and 2/11; conditions on 2/11 was fine for flying, but cancellations continued partly due to planes grounded in other locations.
"There were more cancellations than on 9/11."
"This is a super busy travel weekend."
"Our (Jetblue) system was recently changed."
If there had been someone on the 2/11 BOS->SFO 5:40pm flight (the one I could've booked back when I booked the flight, but opted to book BOS->OAK 7:05pm instead) who did not mind leaving on 2/13 instead (to take my seat), I would have gladly paid for such a switch.
Two questions: would it be appropriate for the airline (Jetblue in this case) to facilitate such a process in this type of situation? This looks like a business opportunity where we have willing buyers, willing sellers (assuming some don't mind giving up their seats), and an airline who may benefit by charging a modest transaction fee...
In my specific case, due to the cancellation of BOS->OAK 7:05pm flight on 2/11, I was rescheduled to 2/13 (thanks to AMEX travel that was on hold with Jetblue for about an hour). I proceeded to try flying standby on anything and everything on 2/11 without success to get back in time for a Lunar new year celebration on 2/12. I ended up purchasing a ticket with United (BOS->LAX) and another one with Southwest (LAX->OAK) to get back in time.
With this unplanned flight change and additional night of hotel stay, the extra cost ran ~$1200 for the return trip alone. As I checked in for my United flight in BOS at 5:45am on 2/12, the line for Jetblue extended all the way to security check areas.
This is the ultimate logistics nightmare: there was very little snow in Boston but much of the city was shut down on 2/10 and 2/11; conditions on 2/11 was fine for flying, but cancellations continued partly due to planes grounded in other locations.
"There were more cancellations than on 9/11."
"This is a super busy travel weekend."
"Our (Jetblue) system was recently changed."
If there had been someone on the 2/11 BOS->SFO 5:40pm flight (the one I could've booked back when I booked the flight, but opted to book BOS->OAK 7:05pm instead) who did not mind leaving on 2/13 instead (to take my seat), I would have gladly paid for such a switch.
Two questions: would it be appropriate for the airline (Jetblue in this case) to facilitate such a process in this type of situation? This looks like a business opportunity where we have willing buyers, willing sellers (assuming some don't mind giving up their seats), and an airline who may benefit by charging a modest transaction fee...
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