Sunday, February 7, 2010

Don't Get Got: America's Biggest Rip-offs

1. Text Messaging: The messages cost carriers only about one-third of a cent to deliver, but typically cost 20 cents outgoing and 10 cents incoming for consumers, i.e. as much as a 6,500% markup.

2. Popcorn: Know that when you go to a movie, the popcorn is what is keeping your local movie house open for business. A medium bag of popcorn costs 60 cents to make, but on average retails for $6.

3. Freecreditreport.com: A service that continuously advertises it's free service had to be a rip-off, right? Well, it is. By signing up you are automatically enrolled in a 14.99 per month service that lasts for one year.

4. Brand Name Painkillers: A 50-ct bottle of Tylenol on average will cost you about 9 bucks, where as a generic painkiller will run you about $5. You are paying 60% more for the same thing. The FDA has requirements of generic drugs that they use the same active ingredients as the more expensive brand name offerings.

5. Restaurant Wine: "Restaurants mark up cheaper bottles by an average of three times the retail price, while the prices of higher end wines are typically doubled" says Ronn Wiegand, a master sommelier who runs the industry newsletter RestaurantWine. So that means a bottle of Sutter Home which costs $4 will run you about $12 or more.

See the full list of Rip-offs at CNN.

-Mike

mike@theantandmikeshow.com

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1 comment:

  1. Thank's for the Rip-off Tips! Knowledge is Power!!!!!!!!!!!

    ReplyDelete