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A Podcast by BBB of the Tri-Counties 

A BIG thank you to Ayers Automotive Repair in Santa Barbara for supporting this podcast.

Welcome to this week’s edition of Your Moment of Trust! 

Premiumization is when companies offer higher-end products and services for a premium price. Airlines selling both business class vs. economy seats are a classic example. Another is car manufacturers offering a standard model and one featuring heated seats and leather trim.

While these two examples have been around for decades, premiumization has expanded since the Covid-19 pandemic. Now, businesses selling everything from beauty products to booze are adding new premium options and services. As a consumer, evaluating premium options can be tricky. Here are BBB’s tips for weighing new premium options and ensuring you get the promised value.

Tips for navigating premiumization as a shopper

● Do your homework. Brands that offer premium products or services may look like luxury, but as with any purchase, doing some research is vital. Before paying a premium price, ensure the vendor is a trustworthy business with a reputation for good customer service. Look up businesses on BBB.org to review business ratings and comments from customers.

● Understand what makes a product premium. Many business owners are working to maintain profit margins by offering their clients added value in a premium package. However, if a product or service claims to be premium, find out why. Specifically, what makes it better than the basic option? If a vendor can’t give you a good answer, skip the premium price and shop elsewhere.

● Comparison shop. To get the best deal on anything, comparison shopping is a must. This is also true when considering a company’s premium offerings. Find out what similar companies offer and their price point to see if you are really getting added value for the higher price.

● Watch for “greenwashing.” Many companies promote premium options as more sustainable, lower waste, or all-natural. But be wary of misleading green marketing claims. The Federal Trade Commission advises consumers to look for specific information on packages and products that explain why the product is green.

● Keep track of subscriptions. Many companies offer premium services in the form of a subscription. This might mean paying a monthly fee for quicker delivery, exclusive content, or access to superior products. If you purchase a subscription,

and especially if you purchase multiple subscriptions, keep track of them. Review paid subscriptions regularly and cancel any you no longer need to avoid unnecessary spending.

● Don’t want premium? Explore new brands. While some companies are leaning into new premium offerings, others are filling the lower-price space with cheaper options. For example, make-up brands are creating new products similar to high-end options but sell for a fraction of the price.

● Stick to your budget. A good budget can do wonders for your financial health, but only if you respect your spending limits. If your budget only allows you to purchase the basic version of a product or service, skip the premium offerings to keep your finances in the green.

Until next time!

Check out this episode!

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A podcast by BBB of the Tri-Counties

A BIG thank for to Ayers Automotive Repair in Santa Barbara

 

Welcome to this week’s edition of Your Moment of Trust!

Tricky websites claim to offer discounted prices on Stanley cups and tumblers in a scam reported to BBB Scam Tracker repeatedly in recent weeks.

Here’s how to spot the scam so you don’t lose money or personal information to con artists.

How the scam works:

You see an ad for Stanley travel cups on social media or after an online search. It appears to be from the official Stanley company or a popular sporting goods store. According to an ad, the store is running a flash sale with great prices on the cups – some are discounted to half the original price or more. Enticed by a good deal, you click on the link. When you do, you’re redirected to a website where you can purchase. It looks like a legitimate site, so you enter your payment information and are charged for the item. However, soon after ordering, you’ll notice some red flags. Some buyers reported never receiving a confirmation email and being unable to contact the company. Others received shipping information, but their product was never delivered. Several victims reported getting confirmation that their product had been delivered to Alaska, which is not where they reside. Here’s one consumer’s firsthand experience: “There was an advertisement for Stanley travel cups for Mother’s Day through Dick’s Sporting Goods. I clicked the ad and was taken to the ‘Stanley’ website, where I ordered and entered my credit card info. I received an order confirmation notice and tracking information from the seller. However, my travel cups were apparently ‘delivered’ in a completely different state, almost 800 miles from my location! The items were delivered the day after a ‘Missing Mail Search Request’ was initiated, but it wasn’t initiated or requested by me. I have tried to contact both the shipping company and the seller through their website but have not gotten any response.” If you purchase through a shady website, your personal information and the money you spend will be gone for good. The Stanley cup you ordered never even existed.

How to avoid online shopping scams:

● Only make purchases through sellers you know and trust. When making purchases online, only buy products from reputable businesses. If you find a great deal through a seller you’ve never heard of, do plenty of research to ensure they are legit before entrusting them with your personal information and hard-earned money.

● Watch out for imitation websites. Even if you think you are on a well-known vendor’s website, you might not be. Scammers are experts at making lookalike websites to fool consumers into entering their personal and payment information. Take a hard look at the URL to ensure you aren’t on a website that looks like a seller you know but is off by a word or even a single letter.

● Beness’ social media feed and website, and read reviews about the company on third-party websites to ensure they are a real business with real customers, quality products, and good customer service.

● Stay extra vigilant around holidays. BBB Scam Tracker received multiple reports each day about this Stanley cup scam just before Mother’s Day. If a holiday is approaching (especially one where it’s customary to send gifts), stay alert to the possibility of scams. Don’t wait until the last minute to purchase a gift, either. Bad actors play on people’s desire to get a good deal. Plus, they know that last-minute shoppers are more vulnerable to scams than someone with plenty of time to research the seller.   Until next time! cautious about ads on social media. Many reputable businesses run social media ads but so do scammers. Sort real businesses from scams by doing your research!

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A Podcast by BBB of the Tri-Coumties

A BIG thank you to Ayers Automotive Repairs in Santa Barbara, CA

 

Welcome to this week’s edition of Your Moment of Trust! How can you choose the best moving option – one that fits both your needs and your budget? Knowing your options (and the perks and downfalls of each one) can help you save money and safely transport your belongings.

Option 1: Full-service moving companies

Hiring a full-service moving company is a lower-stress way of getting all your belongings from Point A to Point B, advises Nerd Wallet, a BBB Accredited Business. Professional movers manage the logistics of loading, driving, and unloading your things for you. Some full-service movers even offer extra services like packing.

Trained movers can safely pack and transport large and/or delicate items (think pianos and antique furniture). They can also move items into hard-to-access areas, such as upstairs or down long, narrow driveways. Best of all, all the heavy lifting will be done for you.

The downsides of hiring a full-service moving company are the cost and the time it takes to complete a move. This is usually the most expensive way to move your belongings. If you are making a long-distance move, it may also take movers several days to deliver your items.

Option 2: Shipping your belongings

If you’ve managed to whittle your belongings down to a few boxes or suitcases, shipping them is a cheap and easy way to move—especially if you are moving across the country, points out Consumer Affairs.

Big-name package shippers often charge a premium to ship large or heavy boxes. But other companies, like long-distance bus lines, may offer cheaper services. Some shippers will pick up boxes from your home and drop them off at your new address for an extra fee.

While cost and ease are two big pros of this method, there are a few cons too. Boxes shipped by ground may take several days or even a few weeks to arrive at their destination. In addition, this isn’t a good option if your boxes contain fragile items.

If you are flying to your new home city, check with several airlines before you buy your ticket. Some airlines offer reasonable prices on additional checked bags, but you’ll probably need to do some searching to find the best deal.

Option 3: DIY truck rentals

If you have larger items but still want to move DIY, a truck rental company could be a good choice. Truck rental companies will provide you with a truck or trailer of an appropriate size, but you’ll be responsible for the packing, loading, driving, and unloading.

This option is less expensive than hiring professional movers. Depending on how far you are going, it may be cheaper than hiring a moving container service. Move.org has calculated average prices for DIY moves.

That said, loading and unloading a truck is physically demanding. If you have any large or unwieldy items, they could be damaged if they aren’t packed, loaded, and unloaded correctly. To address this, you can always hire movers to help you load and unload the truck.

You’ll also need to feel comfortable driving a moving truck, which is probably much larger and heavier than your regular vehicle. This can be stressful even for very capable drivers, and you might need to purchase extra insurance in case of accidents or damage. If you choose this route, add gas, insurance, and lodging to the truck rental company’s quote for an accurate view of the total cost.

Option 4: Moving container services

Moving container services could be an ideal option if you don’t feel comfortable driving a rental truck to your new home. Moving container services bring a portable storage container to your home. You fill it up. Then, the company transports it to your new location, where you unload your belongings.

These companies usually give you a few days to load and unload. They can also store your container for a fee if you need time to find a new house in your new city. They are less costly than a full-service moving company, and you don’t have to worry about driving a big truck to your new home.

To take advantage of moving container services, you’ll need space. If your current or new home has no parking or a driveway on a steep incline, this option might not be feasible. Some moving container services offer movers to load and unload your items if you pay an extra fee. However, in many cases, paying the fee will make the moving container service more expensive or even more expensive than a full-service moving company. To get an idea of pricing for this option, see this article on Move.org.

For more information

Learn more by reviewing the BBB Moving Resources page.

Until next time!

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A Podcast by BBB of the Tri-Counties

A Big thank you to Ayers Automotive Repairs in Santa Barbara for supporting this podcast!

 

This year’s college graduates are getting ready to start their new lives! It’s a big transition that includes several important changes. Grads may be moving to a new city, finding a new place to live, or searching for a new job. Graduation also often means new financial responsibilities, such as starting payments on student loans.  College graduates are navigating many life changes, and scammers are eager to exploit their inexperience. The following tips can help new grads avoid common scams.

Know the terms of your student loans

One of the most common ways scammers target college graduates is with fake loan
forgiveness opportunities. You may receive an unsolicited email, phone call, or text
message stating that you can qualify for lowered payments through a debt forgiveness
program. Fill out a form and pay a fee to use the company’s services. Some of these
companies are real, but they pitch their services with false claims and incomplete
information. Other companies are fakes, only hoping to get their hands on your personal
information and money.  Scammers may also contact college grads regarding student loan repayment hiatus in response to COVID-19. See the latest U.S. information on loan repayment. Check Canada’s latest student loan information.. Scammers may claim that to take advantage of the program, you must complete a form or pay a fee. You may not need to do this, so check your facts before giving anyone your information.

Understanding the ins and outs of your student loan – what kind of interest you owe,
when you need to start paying (in most cases, you won’t need to make a payment until
six months after you’ve graduated), and for how long you’ll be expected to make payments – will protect you from these scams.

Be wary of unsolicited messages about unpaid tuition

Some con artists contact graduates or their parents, claiming some of their tuition was
left unpaid. The graduate’s degree will be revoked if it isn’t paid immediately. Scammers
may ask you to send money via wire transfer or prepaid debit cards. Whether you are contacted by phone, email, or text message, be wary of anyone who contacts you out of the blue. Government agencies, as well as most higher education facilities, will contact you by mail initially. Suppose you aren’t sure if a message is legitimate, research to verify the person’s claims. Ask to contact them later. Then, investigate by looking up information on the official website or calling your school’s bursar’s office. Don’t give in to pressure to make a decision right away.

Do research before accepting jobs or job interviews

Scammers may offer recent graduates high-paying, easy, entry-level jobs. Con artists
are skilled at drawing new grads in by promoting unrealistic wages for generally labeled
job positions, such as “virtual assistant” or “customer service rep.” They may ask for
your personal information, including your bank account and Social Security number,
claiming they need it to set up direct deposit or file taxes. In other cases, scammers
require you to pay for training. In yet another version, you may be “accidentally”
overpaid with a fake check and asked to send back the extra funds.  If you are considering a job with a company you aren’t familiar with, do some research before you complete an application or agree to an interview. Ensure the company has legitimate contact information and the position is posted on their corporate website. Scammers often steal the names of real companies for their phony job postings.  For tips for avoiding scams while job hunting, check out BBB’s report on employment scams.

Watch out for rental scams

Find a gorgeous apartment in a trendy neighborhood at an affordable price. There’s a
good chance that it’s a scam. According to a survey by Apartment List, 43% of people
looking for a rental online have encountered a bogus listing. In many cases, scammers copy the photo and description of real property. Then, they post it online with their contact information and try to get a deposit and the first month’s rent from the victim. If you want to rent a home or apartment, find out how much other rental properties in the area cost before signing a lease. Scammers often lure victims by promising low rents, extra amenities, and a great location. It may be a scam if the price seems much better than elsewhere. Also, be sure to see the apartment or house in person. Don’t send money to someone you’ve never met for an apartment you haven’t seen. If you can’t visit an apartment or house yourself, ask someone you trust to go and confirm that it is what was advertised. Finally, read the lease agreement documents before you sign. Don’t be embarrassed to consult with friends or family members who may be more knowledgeable on the subject if you have doubts or questions. See this BBB investigation for more tips on rental scams.

Until next time!

Check out this episode!

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A Podcast by BBB of the Tri-Counties

A BIG Thank you to Ayers Auto Repair in Santa Barbara for supporting this podcast!

Welcome to this week’s edition of Your Moment of Trust! Artificial intelligence (AI) is the hot new thing. It’s revolutionizing medical research, challenging the art world, and even helping small business owners streamline and automate tasks. But as with anything new and popular, scammers are quick to take advantage. When evaluating AI products for your business, be on the lookout for scams. 

How the scam works 

You get an unsolicited call, email, or text message claiming to offer AI services for small businesses. You may even stumble across a convincing looking ad on social media or be sent one by a friend. The services sound amazing. You’ll pay a reasonable amount upfront, and once the AI is set up, you can expect incredible benefits, such as automating all your marketing needs. If the ROI sounds too good to be true, that’s because it is. 

One small business owner reported signing up for a “free” trial of what appeared to be a promising new AI product. They lamented, “The company charged me $144 plus $12 ‘processing fee’ before the free trial was up… When I explained the situation over email… the ‘Sr Success Manager’ denied a refund and would not put me in contact with anyone else at the company. I informed him that the company was partaking in misleading and false advertisement, and he failed to respond to my email.” 

If you engage with scammers offering phony AI services, you’ll likely lose any money you pay them. At the very least, your business information could fall into the hands of unscrupulous individuals and put you at risk for identity theft, business email compromise, and other cons. 

How to avoid AI scams 

● Research before you hire. Get to know a company before you do business with them. This requires thorough research. Review their website and social media accounts. If anything looks unprofessional or if contact information is missing or doesn’t work, steer clear. Do an internet search for reviews and complaints. Search the company name along with the word “scam” to find reports or any dishonest business practices. You can also look up companies at BBB.org. 

● Understand the AI services you need. Don’t let someone you’ve never met sell you on a service you’ve never heard of before. AI technology is relatively new, so you’ll need to do some research to understand how it works and exactly how it can benefit your business. It’s best practice to first have a use for AI clearly in

mind, and only then reach out to reputable companies for the service. 

● Watch out for aggressive sales tactics and far-fetched promises. These are two of scammers’ most effective tactics. If someone pressures you to buy a service, telling you you’ll miss out if you don’t act right now, or if they promise you your business will make hundreds or thousands of dollars with little to no effort on your part, it’s probably a scam. 

● Ask for references. If a company reaches out to you, ask them for references and contact them. Look up the references online to make sure they are real people, with real businesses. If you can’t find their information, or if the service provider refuses to give you references, find another company to work with. 

● Safeguard your money and personal details. Never enter your sensitive personal information on a website you aren’t familiar with. Don’t send your details via email to someone you don’t know. Keep your money safe by refusing to send funds via wire transfer or prepaid debit cards. If you do purchase a service online, only use your credit card. Credit cards offer extra protection against fraudulent charges. 

For more information 

Discover a similar scam offering fake marketing services to small business owners. Learn more about AI in the BBB Business Tip: AI for small business. Where to start? Then, visit the BBB small business page to get the latest news and tips for small business owners. 

See BBB’s artificial intelligence HQ for more AI tips and resources. 

If you’ve been targeted by an AI scam, report it at BBB.org/ScamTracker – even if you didn’t lose any money. Your report helps build awareness about common scam tactics so other business owners can spot a scam before it’s too late. 

Until next time!

 

Check out this episode!