Swifties, this one’s for you. It seems like Taylor Swift's Eras Tour has lasted eons. Yet somehow, there’s always something to talk about. Just thinking about how much she’s accomplished while on tour makes me want to buckle down, lock in, and channel my inner girlboss. But while I can’t even be bothered to cook dinner at home after a long day of work, Taylor is accomplishing milestones most musicians can only dream of. Let’s recap.
The Era’s Tour began in March 2023 with its North American leg. It’s set to go until December 2024, with dates in Europe, Australia, Asia, and South America— spanning 152 shows across five continents.
As the queen of multitasking, Swift hasn’t stopped at just selling out stadiums. Since the Eras tour began, she’s released multiple albums — both new and old — and shaken up the tour setlist with each new release. Her list of new releases started on the first day of tour with “All Of The Girls You Loved Before,” which was quickly followed up by “The Alcott,” a feature on The National’s album — reciprocity for their work on her pandemic era albums, Folklore and Evermore.
She also released Midnights: Late Night Edition (including the iconic collab with Ice Spice), as well as not one but two album re-releases — Speak Now Taylor's Version and 1989 Taylor's Version. As if that wasn’t enough, she announced her latest album, The Tortured Poet’s Department, in a GRAMMY’s acceptance speech. Talk about legendary. Since its release, she’s also been churning out deluxe versions and remixes to keep us on our toes. The Eras Tour was even made into a Blockbuster film that brought Beyonce to its premiere. Star power: confirmed.
But that’s just her work life. Her personal life is just as eventful. She ended her 7-year relationship with Joe Alwyn in April 2023. Then entered into a brief but controversial fling with 1975 frontman Matty Healy. Though it didn’t last long, the relationship was enough to inspire a whole album and catapult her into her current romance with Travis Kelce, aka Amerca’s first nepo boyfriend. Now they’re the American Royal couple — and she somehow had time to fly from tour to his Super Bowl performance.
We all have the same hours in the day as Taylor Swift, but how she uses them will always be a mystery to me. I work eight hours a day and can barely manage a social life. Meanwhile, Taylor literally has it all — though conservatives are turning on her for daring to be a woman in her 30s who’s not married with kids. If that’s not proof that women can’t do anything right, I don’t know what is.
Clearly, she’s working late because she’s a singer. No wonder Taylor Swift became a billionaire months into her tour in October 2023. Her net worth is currently around 1.3 billion dollars, making her the only female musician to become a billionaire from her music.
Other entertainment billionaires like Rihanna, Kylie Jenner, Kim Kardashian, Jay-Z, and Kanye West have joined the three-comma club thanks to ventures like clothing brands, beauty products, and other entrepreneurial pursuits. Rihanna has her FENTY Empire. Kim has her award-winning SKIMS. Ye had Yeezy. But Taylor has an unbeatable catalog of publishing.
But Taylor isn’t just different from other Billionaires because of how she earned her money. She’s the Taylor we know and love because of how she spends it. Her rollercoaster Eras Tour is how she’s made much of her fortune. And she’s using it to give back in monumental degrees. From individual donations to investing in local infrastructure, Taylor is literally changing lives on a macro and micro scale. And teaching us what to expect from all billionaires in the process.
The Era’s Tour Bonuses — Talk About Workplace Benefits
First to make headlines were the Eras Tour crew bonuses. While some of us get rewarded with a pizza party or a $10 gift card to Starbucks, Taylor casually dropped $55 million in bonuses for her tour crew. The massive sum was paid out to everyone who makes the Eras Tour go around, from truck drivers to dancers and sound technicians.
In fairness, these bonuses are definitely well-deserved. Taylor’s shows are over three hours long. Imagine dancing for that long — because Swift certainly isn’t the one with the impressive moves — for hundreds of tour dates. Or remembering countless combinations of light cues to go with a setlist that changes daily. Yeah, they’re clocking in. And if my boss had millions to blow, I’d be expecting a comfortable bonus too. But $55 Million? That’s a testament to Swift’s generosity. It's like she's Oprah, but instead of cars, she's giving out life-changing amounts of cash. "You get a bonus! You get a bonus! Everybody gets a bonus!"
It’s similar to how Zendaya gave film equity to every member of the crew that worked on her controversial black-and-white drama, Malcolm & Marie. Filmed in a few days with a bare-bones crew during the peak of the pandemic, the film was Zendaya’s passion project with Sam Levinson, in which she starred alongside John David Washington. Though the film got mixed reviews, it captured the audience’s attention all the same. After all, it was Zendaya — and we’ll watch her in anything. So since the film sold to Netflix for a hefty sum, all the crew members got payouts from the deal on top of their salaries to reward their hard work.
Bonuses and equity payouts are common in many industries, but not entertainment. Even though it’s one of the most lucrative and recognizable American industries, most entertainers don’t make enough to survive. The SAG and WGA strikes last year were proof that there needs to be systemic change in the industry. LA County has even identified show businesses as risk factors for being unhoused — after all, how many stories do we hear of actors who were living in their cars before their big break? And for many, their big break never comes. For even more, they get hired on amazing gigs with giant performers … then go right back to the grind afterward. While individual actions from our favorite stars won’t fix everything, Zendaya and Taylor are providing models for how Hollywood should treat the people who make this town go round.
And in this economy, even a little bit could go a long way. Inflation and the cost of living are not a joke. Especially when, like with many creative careers, you often have to invest in lessons or equipment for your craft. With all this considered, the impact of Swirt’s donations can’t be overstated. Imagine getting a lump sum of cash for dancing to your favorite Taylor Swift tracks? Talk about a dream job.
The Economic Impact of Swift - Swiftonomics, if you will
Like Barbie and Beyonce last year, Swift is still on a tear to boost the economy of the cities she’s in just by traveling there — ad inspiring others to make the trek, too.
The Barbie movie proved that by marketing to women (instead of just making Marvel flops like Madame Web that aren’t really targeted to women at all), the entertainment industry can make giant profits. Barbie fever went beyond the theater. Thanks to a plethora of product collabs, the phenomenon rippled through retail.
Similarly, Beyonce’s Renaissance Tour tour generated an estimated $4.5 billion for the American economy. According to NPR, that’s almost as much as the entire 2008 Olympics earned for Beijing. People were taking money out of their 401ks to pay for Beyonce tickets and the glittery, silver-hues outfits to rock at her shows. Cities even started calling her effect the “Beyonce Bump.”
Swift has the same effect. She’s not just proving her generosity on a micro-scale for the people close to her, she’s having actual, tangible effects on the economy. It's like she's leaving a trail of dollar bills in her wake, and cities are scrambling to catch them like it's a country-pop, capitalist version of musical chairs.
The US Travel Association called it the Taylor Swift Impact after she generated over $5 Billion in just the first 5 months of the Eras Tour. But how does this work? It’s not like Taylor is printing more money at those shows, but it almost is. Her tour dates are pretty much economic steroid shots for local businesses. Hotels are booked solid, restaurants are packed, and let's not even get started on the surge in friendship bracelet supplies.
“Swifties averaged $1,300 of spending in local economies on travel, hotel stays, food, as well as merchandise and costumes,” say the US Travel Association. “That amount of spending is on par with the Super Bowl, but this time it happened on 53 different nights in 20 different locations over the course of five months.” That’s not to say anothing of her effect on the actual Super Bowl and the entire NFL season thanks to her ball-throwing boyfriend.
It's like she's created her own micro-economy, and everyone's invited to the party. And unlike some economic theories that rely on wealth trickling down (spoiler alert: it doesn't), Taylor's wealth is more like a t-shirt cannon or the confetti at her shows — showering everyone around.
Donations that actually do good
Taylor isn’t just stepping into cities and calling it a night. She’s also not just throwing pennies at problems - she's making significant contributions that are changing lives. And more importantly, she's using her platform to encourage her fans to do the same.
She kicked off her tour with quiet donations to food banks in Glendale, Ariz., and Las Vegas ahead of the Eras Tour. Once the tour was in full swing, she continued this practice. In Seattle, she donated to Food Lifeline, a local hunger relief organization. In Santa Clara, she showed some love to Second Harvest of Silicon Valley. And let's not forget about her $100,000 donation to the Hawkins County School Nutrition Program in Tennessee.
She’s been making similar donations overseas. Taylor Swift donated enough money to cover the food bills for an entire year across 11 food banks and & community pantries in Liverpool. Swift also covered 10,800 meals for Cardiff Foodbank and many more banks across the UK and EU. Her impact is so profound that her numbers are doing more to combat issues like hunger than the government.
Can billionaires actually be good?
One thing about me, I’m always ready and willing — knife and fork in hand — to eat the rich. Because fundamentally, can any billionaire really be good? In our late-stage capitalist horror story, the answer is usually no. Look how many of them are supporting the Trump campaign just to get some tax breaks.
But here's the thing - Taylor Swift might just be the exception that proves the rule. She's not perfect, sure. She still flies private jets and probably has a carbon footprint bigger than Bigfoot. But unlike most of the others in her tax bracket, she's not flaunting her wealth like it's a personality trait.
Take a look around. We've got billionaires trying to colonize Mars instead of, I don't know, helping people on Earth. In this context, Taylor's approach is more like Mackenzie Scott’s — Bezos’s ex-wife. She's not trying to escape to another planet - she's trying to make this one better.
And look, I'm not saying we should stop critiquing billionaires or the system that creates them. But she's just setting the bar for what we should expect from all billionaires. She's showing us that our collective power as fans can translate into real-world change. That our love for catchy choruses and bridge drops can somehow, improbably, lead to food banks getting funded and crew members getting life-changing bonuses.
So sorry to my neighbors who hear me belting “Cruel Summer” and “right where you left me” at the top of my lungs (and range). Just know it’s for the greater good.
What Real People Are Saying About Consolidated Credit
With consumer debt hovering around $14 trillion, more of your peers are in debt than you probably think.
Outrageous medical bills, soaring college loans, and all the other emergencies in life can contribute to mounting credit card debt. That's why more Americans every day are looking to Consolidated Credit, a non-profit organization that helps pull people out of debt.
They've helped over 10 million people on average reduce their total credit card payments by 30-50%.
By working to lower your monthly payments and reduce the interest rate, the service is a no-brainer for anyone struggling with debt.
Their debt counseling services and customer service are unparalleled; those who've gone through the process of trying to manage their debt know it's tough and can't find anything that grants them more relief than Consolidated Credit.
Here are what just a few of their customers have to say about the convenient service.
"We have paid off $250k"
"My husband and I were at a point of stress, fights, and felt like we were drowning. Because of this company we are now breathing easier and making more responsible financial decisions.
By the end of our five year term (3 years in already), we will have paid off nearly 250K in debt!! I recommend them to anyone and everyone struggling." - Stacie K.
"I cannot say enough good things"
"Our [Debt Consolidation Counselor] was knowledgeable, professional, comprehensive, kind, and answered all my questions in a PATIENT AND THOROUGH context. I cannot say enough good things about [our counselor]." - Dave C.
"Very grateful for the help and peace of mind."
"I am very grateful for the help and peace of mind the Consolidated program has given me. Life can be financially overwhelming at times. It is very satisfying to have a program that puts one back on the road to financial security. Thank you, Consolidated Credit!" - Carol G.
"It becomes easier and easier"
"There is light at the end of the tunnel. I was struggling with overwhelming debt and did this as a last attempt. They definitely drilled into me that I was not being responsible, which I wasn't. After everything is set up it becomes easier and easier." - Joseph M.
"Consolidated Credit came to the rescue."
"Almost there!!! I was totally buried in debt but CC came to the rescue. I am now ONLY THREE MONTHS away from being free of seven credit card payments! CC is a God-send." - Deb F.
In some circumstances, you need to rely on credit cards. When you feel like you're relying on credit cards too much, it's time to rely on Consolidated Credit. They make it easy to get on top of your finances and not only get out of debt, but stay out of debt.
Check them out to see how they can help you.
Jeffrey Epstein's Exorbitant Lifestyle: Private Islands, Conspiracy Theories, and Networks of Corruption
Epstein's lifestyle was unimaginably creepy, but it's indicative of a larger problem.
Jeffrey Epstein was found dead in his jail cell on Saturday, having been accused of sexual abuse by nearly 80 women.
He leaves behind a legacy of destructive opulence.
Epstein lived a lifestyle of unchecked consumption. The billionaire possessed a number of extravagant homes. His Manhattan townhouse allegedly cost $77 million and contained disturbing oddities—such as a hall full of fake eyes that were initially created for injured soldiers. It also contained a photorealistic mural that featured Epstein in jail, surrounded by prison guards, as well as a life-sized female mannequin that hung from a chandelier.
His private ranch was even more grandiose. At 10,000 acres, Zorro Ranch is a sprawling stretch of land, to which Epstein allegedly flew young girls, and where he abused them with the help of his supposed madam, Ghislaine Maxwell. The ranch was also a place where he attempted to impregnate hundreds of women in an effort to seed the human race with his DNA. This attempt was inspired by his distorted belief in transhumanism, a theory that the human population can be improved through artificial intelligence and genetic engineering.
The townhouse and the ranch paled in comparison to his primary place of residence—his private island. St. James Island is located in the U.S. Virgin Islands, and Epstein purchased it in 1998. According to a contractor, Steve Scully, Epstein possessed two private offices on the island, as well as a strange blue-and-white striped temple and a lagoon full of flamingos. The island was, allegedly, the location of a variety of heinous crimes and was casually called the "Island of Sin" and even "Pedophile Island" among some of Epstein's acquaintances.
Epstein had ties to countless businesses and money-making ventures, and he had a particularly fraught relationship with Victoria's Secret, a company that may have funneled models directly to him—and from which he may have embezzled millions. He had a circle of powerful friends that included Donald Trump, Kevin Spacey, Woody Allen, and Bill Clinton. He was also a serial liar, constantly fabricating relationships and insinuating himself into the scientific and political communities, including ingratiating himself with scientists by bankrolling their research. He is an example of the way that money can pave pathways and open doors for people with little to offer other than their purported fortunes and their charisma.
Between the bizarre decor of his homes, his interest in nefarious ideas like eugenics and cryogenics, and the suspicious circumstances of his apparent suicide in a Manhattan jail, Rolling Stone was right when it published the headline, "Conspiracy theories have gone mainstream."
Many of the conspiracy theories currently swirling around the Internet center around Epstein's relationship with Bill Clinton and Donald Trump, with #TrumpBodyCount and #ClintonBodyCount trending on Twitter and Trump himself tweeting about the Clinton conspiracy. Many others believe that Epstein faked the suicide, as the cameras in the jail cell stopped working at the time of his death.
With its tangled web of lies, the Epstein case is "the end of an information ecosystem that at least feints at asking questions before pretending to have the answers," according to Anna Merlan.
Is this the end, or just a step towards chipping away illusions and unearthing the corruption inherent to America's wealthiest class? After all, it's likely that there have been thousands of Epsteins before—billionaires in bed with politicians and scientific communities who abused women without consequence and who've funded false scientific research.
Maybe social media is, in its ugly, distorted way, finally bringing the dark money and covert alliances at the heart of America out into the light. Maybe next, the Internet could come for people like the Koch Brothers, the billionaires who paid millions to shut down climate change research.
Based on the nature of social media, though, it'll be a long time before we arrive at anything like the truth.
The Five Best Aid Organizations to Give To
Choose to give where your money will go the farthest.
Everyone can agree that giving to charity is a worthwhile way to use one's money. But it's not as simple as just writing a check. You want to make sure your money is going somewhere where it'll be put to good use. With so many options out there, how can you make sure you're putting your money into worthy causes? To help you on your quest, we've compiled a list of the top 5 aid organizations to give to in 2019.
Children International is an organization who has the broad mission of ending childhood poverty across the globe. Their primary means of doing this is by allowing donors to sponsor a child, regularly donating to provide the child with healthcare, education, food, shelter, etc. Charity watchdog gives this foundation an A rating, as they offer 84% of their earnings to children in need, with only 16% going to overhead costs.
American Civil Liberties Union (ACLU)
This organization aims to "maintain and advance civil liberties, including, without limitation, the freedoms of association, press, religion, and speech, and the rights to the franchise, to due process of law, and to equal protection of the laws for all people throughout the United States and its jurisdictions." The ACLU is one of the most powerful groups fighting to protect American citizens today, and decidedly a very worthy cause to donate to.
The National Wildlife Federation aims to protect American wildlife and wilderness by educating Americans about the importance of nature and fundraising money for environmentalist programs. They only spend 13% of their income on overhead, meaning you can be sure your donation isn't going towards some rich person's personal fortune, but is going towards protecting America's quickly dwindling natural beauty.
National Alliance to End Homelessness
This organization's mission is simple: end homelessness in America. They focus primarily on issues of policy and education, empowering legislators and communities to take steps to support disenfranchised Americans without housing. They give an incredible 92% of their proceeds to their cause, making them one of the most responsible charities on this list.
American Foundation for Suicide Prevention (AFSP)
Suicide is an ever-growing crisis in the United States, but thanks to organizations like the AFSP, people are becoming more and more educated about the truth of mental illness. They raise awareness, fund scientific research, and provide important resources and aid to those affected by suicide.
A brief history of American credit unions and banks
Do you understand the difference between a credit union and a bank?
Big banks and social responsibility don't typically go hand-in-hand, but there is a bedrock financial institution that was formed wholly out of a noble ethos. The brutal winter of 1846-47 led to widespread famine, so Friedrich Raiffeisen, a rural German mayor, set up a system in which wealthier citizens put cash into a fund used to buy grain to be loaned to those suffering from the famine.
This, in turn, led to a community bakery. The "bread society" project worked. When the famine ended, the less fortunate paid back the benefators in cash. Raiffeisen would expand on his largesse with an "aid society" that provided low-interest loans to farmers to get around the common usurary practices, and set up a charity for abandoned children. Eventually, in 1864, Raiffeisen established the first rural cooperative lending institution, in effect, creating the first credit union.
Credit unions wouldn't come to the United States until 1909. That year, the first one opened in New Hampshire, and the first comprehensive credit union law passed in Massachusetts with help from Edward Filene of department store fame. It served as the model for the FCU Act, which was signed by Franklin Roosevelt in 1934, authorizing federally chartered credit unions in all the states.Coming in the middle of the Great Depression, the FCU Act gave Americans the chance to join member-driven co-operative non-profit financial institutions like the "bread society" of yore.
"The membership orientation of credit unions is designed to serve the consumer, particularly those of more modern means, through the affiliation with a group," says Greg McBride, chief financial analyst at Bankrate.com. "Today, credit unions and banks have more similarities than differences, although they're generally much smaller and some may have a single branch."
The primary drawback to credit unions is one of size. They don't have branches on every corner and they not offer the 24/7 service of our banking overlords. Credit unions also don't tend to have the full menu of services as the giants, like say wealth management or some small business loans. It varies, of course. The larger credit unions, like top gun 7-million-member $90-billion-in-assets strong Navy Federal Credit Union offers business loans, but most have much smaller holdings.
For the Monopoly Man, size matters. Who else is going to back another major development on Marvin Gardens? Let the monocled oligarch have Wells Fargo. One important facet of credit unions is that they're not Wells Fargo, there's no incentive to conjure 3.5-million fake accounts out of thin air.
"They have the same regulatory rules as banks, but the not-for-profit status shields credit unions from some of the more nefarious practices of their counterparts," says McBride.
Credit unions got a big boost following the 2008 financial crisis and the Occupy Wall Street movement that grew out of it. In 2011, a California woman tired of her high uber-bank fees started a social media event page calling for a "Bank Transfer Day" where money would be moved to credit unions. According to Bill Cheney, CEO of the Credit Union National Association, it worked. Credit unions added a net of some 2.2-million members between June 2011-2012, double the average over the previous ten years. As recently as the second quarter of 2017 saw credit union growth across the country in nearly every category, according to the National Credit Union Administration. There's now 102-million credit union users in the United States, so the big banks have taken notice. Just last week, members of state banking associations called on Senate Finance Chairman Orrin Hatch to tax the larger - yet still non-profit like so many mega-churches-credit unions.
Banking, however, is not an altruistic endeavor. There are still reasons to go with credit unions, such as:
Better terms
One of the most attractive aspects to credit unions is the money saved. Consumers can get better rates on deposits and loans, lower or at least reduced fees, and the balance requirements are much more user-friendly.
Democratic decision-making
One credit union member, one ballot. Board seats and official positions are voted on by the membership. Non-profit means credit unions are beholden to the community within, not shareholders.
Low barrier to entry
If someone meets the membership requirements - be it geographical, organizational, social, or even philanthropic (Alliant Credit Union is open to anyone who makes a $10 charitable donation to Foster Care to Success) - membership fees are reasonable and don't require a crazy level of assets at all times. Many credit unions are specifically designed to help customers get a foothold in the American baking system. A great example is California's Golden 1 Credit Union, which offers a free account to students ages 16 and 17, so long as they maintain a B average or higher.
Credit unions are an unsung piece of the American financial structure, but they can work for you, even if you're generally happy and at a large bank (that probably has ridiculously punitive overdraft fees.) Keep in mind, it's not an all-or-nothing proposition. You can do a piece of your overall banking at a credit union. Greg McBride says too many consumers sign up with a single bank and miss out on opportunities to save money by diversifying. He advocates the same approach Smokey Robinson's mother did for dating.
"It's prudent to include credit unions to look for the best deal," he says. "Consumers should always shop around."
Google's $2.7 Billion Fine, Antitrust, and Tech's Ever-Changing Landscape
Musings: From two perspectives of tech conglomerate fines, antitrust laws, and the tech world as a whole
Lauren: The EU has given Google a $2.7 billion fine due to alleged antitrust violations. According to EU antitrust regulators, the internet giant is a monopoly. And so Google now has to prove that it has rivals that had made substantial inroads to its businesses, including specialized search categories, mobile phones, and online ad buying. This fine and punishment could also set a precedent for other tech giants. Seems like they're not as unstoppable as many have believed.
Jane: It would set a precedent in Europe. Google has been doing that here forever. But the application of antitrust laws to tech companies interesting. Amazon, Google, Apple, and etc. easily outpace other smaller companies and since they dominate the newer, harder to regulate marketplaces, there is a lack of checks and balances in place
L: The law is slow to catch up in this area. It feels like the second a new law addressing internet companies or online privacy passes, things are updated into something new that needs a whole new framework of regulations. The pace of advancement in technology and regulations just don't match up. Because of this, so much of what is done online is in a legal gray area. That's why it's interesting that Europe is attacking the problem using antitrust law. Those laws are pretty old, but are working in the context of the 21st century.
It feels like the second a new law addressing internet companies or online privacy passes, things are updated into something new that needs a whole new framework of regulations
J: The concept is still the same. Make sure the market is in favor of the consumer. Limiting competition does the exact opposite. Manipulating search results when Google is the primary search engine is shady.
L: This also shows how much the digital world can affect the real one. If you can't Google a business, it might as well not exist. When you think about it, Google has immense power over our lives. So does Facebook or Amazon. These websites and companies are deeply ingrained in our daily lives and our economy.
J: Amazon is trying to be the one-stop shop for everything. They've been trying to get into the grocery business for a long time and buying Whole Foods would cement them in the industry. It could be very successful or they can run the grocery story to the ground since Amazon's model is vastly different from Whole Foods.
L: I think Amazon might use Whole Foods as a testing ground for their new grocery shopping concept Amazon Go. That will be a huge change for the industry.
J: It would blur industry lines even more but Amazon has a history of doing that anyway. Bezos purchased the Washington Post a few years ago. In Whole Foods case, prices might possibly go down. But you never know. There's a lot of unknown as tech companies melded and absorb other traditional companies.
Is Affordable Education And Health Care Even possible?
Affordable health care and education is beginning to feel more and more like an unattainable luxury.
There's no denying that business owners work hard for the money that they make. However, as more money is funneled into the pockets of the 1%, it means there is less available for health care and education assistance. Rather than improving the country by ensuring accessible health care and education for all, business owners are purchasing boats, second (or third) homes and luxury cars.
If each business made a small shift, they could still profit without cheating the American taxpayer out of affordable health care and education. Let's take a look at a few ideas business owners could implement to improve their profit margins without taking tax dollars.
Cut out Waste
Whether we're talking about wasted productivity or wasted products, many companies aren't operating as lean and efficiently as they could be. They waste time, money and other resources putting too many employees on the schedule or throwing out products that weren't properly assembled or may have been past their expiration date. Unfortunately, any kind of waste can hurt a business's profitability.
If more businesses would adopt a leaner business model, they can eliminate this waste and ensure they're not throwing money right down the toilet. By only scheduling employees when they're actually needed, ensuring they're meeting the appropriate demand requirements, and not wasting so much product, business owners can make enough profit that they won't need to swindle taxpayers out of their cash.
Focus on Gaining Repeat Customers
Acquiring new customers is expensive for any business. Because companies need to go through the entire process of attracting new leads and nurturing them into clients, they need a larger marketing budget. However, if they put their focus on getting past customers to purchase again, they could cut their marketing spending and increase revenue at the same time.
Repeat customers mean that companies get more return for their initial investment. Unfortunately, many companies only look at landing that first sale and do very little to encourage buyers to come back for more. If they instead focused on building strong communities that continuously purchase from them, they could bring in more business and leave tax money for education and healthcare.
Reduce Indirect Spending
When we think about spending as a company, we usually think about direct spending, or products and services that go directly into making the products the company sells. These raw materials and subcontracted work contracts are extremely important, but indirect spending can cause a company to overspend.
Reducing indirect spending, or spending on products and services that don't contribute to the products being manufactured, can result in savings of more than 25% for a company. If companies consider purchasing cheaper items or just begin tracking their spending, they can find additional costs to eliminate to put more money in the pockets of their employees and owners.
Improve Pricing Strategies
While consumers hate to see price increases on the products or services they love, companies need to be smarter about the way they're pricing their offerings. If they're not leaving enough room for a sustainable profit margin, owners are likely to get greedy and start looking for profit opportunities elsewhere.
Companies can improve their pricing strategies a couple of ways. First, if they're not charging enough, they can restructure their price scale to reflect the boost they need. On the other hand, if they're simply charging too much, they can reduce prices to improve demand and sell more products. Companies may also want to cut out products or services that are expensive to produce but do not bring in a particularly high return.
Unfortunately, it isn't likely that companies are going to leave tax money for education and health care. Because many business owners are only looking to put more money in their own pockets, we can expect to still see the 1% raking in cash while many of us continue to struggle to pay for basic needs.
Offering affordable health care and education to Americans doesn't need to become a difficult process. If we can rearrange some of the tax money that individuals are already paying, we should be able to make health care and education much more affordable. However, it would take serious restructuring to our entire system before we can see change.