The Stacking Benjamins Show What Hidden Fees and Costs are Sneaking Money From Your Wallet? (SB1583)
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Oct 4, 2024 Hidden fees are lurking in unexpected places, from Robinhood's controversial trading costs to everyday services like Doordash. Guests humorously dissect how these charges can sneak into our lives, stressing the importance of conscious spending. The conversation flows from the surprising costs of options trading to the price tags attached to convenience-based services. A trivia challenge adds a fun twist, while exploring how financial technology changes consumer behavior. Ultimately, the discussion reveals that even small fees can add up significantly.
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Robinhood's Hidden Fees
- Robinhood is accused of charging high hidden fees for options trading, disguised as a "spread".
- Other brokerage companies charge significantly less for this spread.
Hidden Time Costs
- Joe Saul-Sehy took a "low-cost" tour in Chile that included a mandatory half-hour stop at a large souvenir shop.
- This highlights how seemingly cheap deals can have hidden time costs.
Hidden Costs of Consumption
- Overconsumption has hidden costs beyond the price tag, including environmental and social impacts.
- These costs are often passed on to consumers through taxes.