Monster's Den

And then he said, “The important thing is to find something you feel good about doing.”

That phrasing struck me. “Something you feel good about doing”. Most people would have phrased it as “something you enjoy doing”. Or “something you’re good at doing”. But Mr. Rogers’ subtly different phrasing leads to a profoundly different connotation. “Something you feel good about doing” may not be enjoyable–people who work in hospitals or in disaster zones might not enjoy much of their day, but they probably feel good about helping people. “Something you feel good about doing“ may not be something you’re particularly good at–you may be a terrible artist by any objective standard, but if you feel good about making your art, then it’s a worthwhile endeavor. Looking for “something you feel good about doing” can help you find a truly satisfying life path.

Ernst Fuchs (1930–2015), “Daphne”

etching, n.d. (c. 1960-87)

At the start of my employment, my boss showed me videos of people stealing, and we both had a chuckle about it. How silly they were! There was a camera overhead, and it’s not to watch the shoppers. See, we can’t actually stop shoplifters. They get away with it maybe nine out of ten times. But we, who are watched and tallied and witnessed? We are always caught.

At first it was hard to hold one hundred dollars bills. An amount I had never seen before. An amount that didn’t exist in my household. It’s normal now. Here is something that is not for me.

“What the hell, I’ll take another,” says the man, pondering our 200 dollar watches. What the hell. Total comes to 580 and not even a flinch in his face. I have been working for 11 hours today and made only 110 dollars. It will go to my rent. Today I work for free, it feels. When I get my check, I will have 35 dollars left for food and saving.

The six hundreds he hands me go into the cash register. For a moment, I imagine having money. Then I put it away, counting out his change.

I know for a fact we sell our products for double what they are worth. That I could be making commission. That they could hand me those 580 dollars and change my life and not even mark the difference in their checkbooks. He’s not the only sale they make today, but I am the reason they made it. He’s not the only one spending 600 dollars, but if I hadn’t spent two hours with him telling me about his life, he wouldn’t have spent any. I go home. I don’t own a watch.

I have watched and rewatched a video on how to make salmon four ways. My shopping list is always the same. Pasta. Rice. Tuna. If I can afford butter it was a good week. I dream of the world I will never walk in, where I can throw the best fish fillet in the cart with a shrug. I hold hundreds in my hand and look up at the camera. I put them under the cash drawer.

I go to work. I scrap together my savings. I eat my bowl of rice slowly. My manager takes a paid week off from work just for his birthday. He owns a yacht. 

i was part of their college program. i moved to the state for it. they legally owned the building i was living in and still charged me rent. i ostensibly was being charged to work for them. it was a 2 bedroom apartment and they placed 6 adult women in it in forced triples.

as many as one in ten disney employees have experienced homelessness while working for the company. despite huge efforts to unionize, strike, or otherwise demand fair treatment; disney has refused to increase employee quality of life.

disney admits publicly that a good portion of their success is because the employees (“cast members”) are dedicated, passionate, and selfless. this is never reflected in pay. even “face” characters (ie those that are princesses etc) make barely above a minimum wage.

at the time that i worked there, i made $8.50 an hour. at one point i was asked to create a human shield around a bag because a bomb dog had alerted to it. for eight fucking dollars an hour.

i now work a very cushy office job. i have bought the salmon and cooked it all four ways.

i go to the store. i am nice to the person behind the counter. she looks up at the camera while she counts out my change. there is nothing fundamentally different about her and i.

-Don’t use “buy now pay later.” The fine print isn’t what it seems.

-The fine print on medical financing, store credit cards, and contactless payment is also not what it seems.

-Payday loans are still predatory, even when offered by your employer

-Rewards programs are an income stream for the companies that run them. The points systems are manipulated so that the house always wins. They depend on people leaving money in rewards accounts and not in interest-bearing traditional bank accounts.

-Electronic payment apps like VenMo are not banks. You don’t earn interest. Your money is not protected.

-Your financial information is not private if your money is not kept in a regulated bank.

-None of this is regulated by the FDIC. Your money is not protected if it is held by a non-bank doing banking business. Our economy is not protected from the collapse of financial institutions that are not banks.

 A third of younger Americans hold their savings on nonbank tech platforms like Venmo

PEOPLE! DO NOT LEAVE YOUR MONEY IN VENMO OR APPLE PAY OR ANY OF THIS SHIT. FOR THE LOVE OF GOD GO FIND A REAL BANK OR A CREDIT UNION.

If Venmo were to close tomorrow all your money would vanish. There's no insurance or guarantee on any of these things. I know banks aren't great but legit banks will have the "FDIC insured" logo on their doors and websites, which means if my bank goes under tomorrow I still get my money back. Also I guarantee you there is a credit union somewhere in your town, go find it.

your funds are insured up to $250,000 by the FDIC in the event Green Dot Bank fails

In the event Green Dot Bank fails. Meaning the only time your money is protected is if Green Dot goes under. Not if Apple goes under (unlikely, granted). Or if Apple changes its terms (entirely possible). Or if you got scammed. Or if Apple freezes your account because they think you're the one scamming. Or any of the other countless mishaps your money could suffer. Green Dot is insured, but Apple Cash is not.

This is the disclaimer (highlighted) you see before you set up Apple Cash:

For the love of god get an account at a federally insured institution. Look for FDIC (banks) or NCUA (credit unions) insured and regulated financial institution. They are legally required to have this status publicly available and accessible so it's not hard to find.

The FDIC and/or NCUA will insure your accounts up to $250,000 PER AUTHORIZED SIGNER and per account type. These are factors to max your coverage to even higher than $250k but the key point is that if something happens to your bank or accounts there, that first $250k of your money is secured anyway.

Banks are for profit. Credit Unions are exactly what it sounds like: unions. They are not for profit and member owned.

Bigger institutions have more money and resources at their disposal; they have the fancier apps, 24/7 phone banking and more locations. But watch out! They are no different than any other large corporation you've heard of when it comes to ethics. Smaller institutions have more limitations, and lesser size is not an indicator of morality, but it's something to consider when choosing where to keep your money.

These institutions, regardless of what kind you choose, will offer interest bearing accounts. Money Market Savings and Time Accounts (also called Certificates of Deposit,) are popular choices to put the money you already have to work for you. You can earn money just for having your money in an interest bearing account type.

All financial institutions charge fees of one sort or another. They are offering products and services, after all. Nothing is free! They will also disclose options to avoid paying those fees, usually based around meeting specific criteria such as minimum balances or direct deposits.