Forget the Gold, Go for the ZYNC!

February 6, 2010 by  
Filed under Debt and Credit

When gold just isn’t good enough, zinc Zync is better. At least for American Express it is.

I read about a lot of crazy financial ideas and products. It used to be that checking and savings accounts led the way in offering different features and so-called benefits to entice new customers. That trend was displaced by credit card products as Americans became less interested in saving and more interested in spending.

It’s to the point now that selecting credit card features is like buying options on a new car purchase. (Another expensive activity.)

The latest is the ZYNC card. This is a fee-based charge card with optional “Lifestyle” packs that you can “add” for an extra fee.  Wow – I definitely need the fully-loaded version. But what’s with the “Zync” moniker? Have we finally run out of precious metal versions of spending aids?  What’s next – the “TYN” card? Or how about the “LEAD” card for spending that will really weigh you down.

OK enough about that latest in credit card fashions. On to some tough money love reading for the week.

First up: Paul Farrell at MarketWatch gives us 20 reasons why the global debt time bomb is ready to explode. If you read credit card ads but won’t read Farrell’s piece, you deserve to have your finances blown up.

The Moolanomy blog wrote about having a no-spend weekend. I like the concept, particularly for young adults who have come to believe that the national pastime is clubbing with big bar tabs. If you can break out of the “weekends are for spending” mindset when you are young, the rest of your financial life may go a lot smoother.

Kyle at Amateur Asset Allocator wrote a summary of places to find coupon deals. I have started to appreciate finding these coupon deals and now make a habit of checking them before any significant purchase. As a techie, I would add Tech Deals to the list.

Money Crashers published a piece about the “fat tax“, i.e., taxing food products that are objectively unhealthy by their contributions to our national obesity problem. I don’t like taxes but I like this one. Face it – the gazillions of extra pounds that our fellow citizens are lugging around cost us all a lot of money, particularly in health care. Now that I think about it, I need to write an entire post on this topic.

Finally, check out this week’s Carnival of Personal Finance.

Enjoy the weekend (maybe a no-spend one?)


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One Response to “Forget the Gold, Go for the ZYNC!”
  1. MasterPo says:

    I can’t believe you are really in favor of a “fat tax”!? Just what we need in our lives, another tax.

    That’s the same kind of control and intrusion on life Obamacare would have (and still might!) implemented.

    If I want to eat chocolate all day, or get an ice cream instead of an apple for a snack that’s *my* choice. There are plenty of healthier foods available and certainly no lack of diety and health advise.

    And to sight healthcare as a reason too?!?!

    If you’re going down that road then why stop there?

    EVERYTHING you (and I and everyone else) do, buy, use, drive, wear, travel to, sports you play, etc etc etc etc potentially can “cost us all a lot of money, particularly in health care.”

    Think extra hard before you throw your support behind such a thing. :-(

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