Facebook Marketplace extends waiver on Seller fees

Facebook Marketplace extends waiver on Seller fees

As if the social media giant doesn’t get enough of our time and eyes, they started a Marketplace a few years ago that was free to users for the most part. The simplicity and captive audience made it an instant hit for users. Craigslist, Ebay, Amazon, and most other popular selling sites have had a fee structure in place for years. It was just a matter of time before Facebook did the same.

The new selling fee structure was planned for January 2021 but has been pushed out for all orders marked as shipped through 11:59 Pacific Time June 30th, 2021. This fee structure is just another savvy way to slide under the radar yet get your hard-earned nickel and dimes.

Understanding the Seller Fees

Facebook will charge a selling fee of 5% per shipment, or a flat fee of $0.40 for shipments of $8.00 or less. When the seller makes a sale, the selling fee is deducted from the seller’s payout automatically.

  • For example, if a shipment is $10.00 USD, a selling fee of $0.50 USD is deducted. If a shipment is $5.00 USD, a selling fee of $0.40 USD is deducted. As a seller, minimizing your cost/sale is best accomplished by exceeding a shipment value of $8.00 USD each time.

This will complicate some listings that are “miscellaneous” or “ala-carte”. For example, a listing for $1 (that is not actually $1 and only done to attract hits) that encompasses a host of items with separate prices for each item. Sellers will have to be more specific to match a price to an item and create a separate listing for each item. This is likely to take a lot more time to create listings and weed out some sellers. On the positive side, for buyers it should weed out some of the “garbage” listing and provide a marketplace of more serious sellers.

Chargebacks

For Buyers, there will be a chargeback process. This will put a hold on the transaction amount to the Seller until it is resolved. If a customer files a chargeback, we’ll place a hold on the transaction amount until the chargeback is resolved.

Leave your comments, advice, ask questions, add ideas at our home page.

Keeping Americans Connected

Keeping Americans Connected

The FCC is tracking hundreds of companies that have already pledged COVID-19 support to help consumers. This pledge includes to:

  1. not terminate service to any residential or small business customers because of their inability to pay their bills due to the disruptions caused by the coronavirus pandemic;
  2. waive any late fees that any residential or small business customers incur because of their economic circumstances related to the coronavirus pandemic; and
  3. open its Wi-Fi hotspots to any American who needs them.

Click below to see a list of companies and actions above and beyond the pledge.

In a financial pinch? Consider these ideas

In a financial pinch? Consider these ideas

If you’re in a pinch and strapped for cash, the punch list below are ideas to earn and save money. Some are more obvious than others and some take more effort and involve more risks and long term implications. Be careful making a short term decision that could impact your long term financial well being.

Make a list of ideas that apply to you. Assess the pros and cons along with the short-term and long-term risks. Evaluate those that have the biggest impact to help meet your needs and spend the time and energy getting those done first.

  • Sell items on a marketplace such as Ebay, Amazon, Facebook, Craigslist, and garage sale. Pawn shops may be an option but you’re likely to get a fraction of its value. The value of collectibles almost always depends on condition; use care when handling collectibles you plan to sell.
  • Review memberships (gym, music, online storage, software). You may be able to freeze the membership or decide to cancel it all together. It doesn’t hurt to at least ask for money back if you can prove that you haven’t used the service over a period of time. You may be surprised, especially if you have proven loyalty with the company or you can convince them that you may come back. If you’re not sure, look at your bank account and credit card history and make sure you understand every transaction. You should go back at least a year to catch those with annual renewal terms.
  • Review reoccurring subscriptions (cable, music, online streaming, satellite radio). These can also be memberships as described above. The same concepts apply. You may be surprised of all the nickel & dimes you pay on memberships from the least expensive that could $1.99/mo. to those that more obvious like cable of $200/mo. There’s a good reason for this type of income stream getting so popular lately…because people forget and these costs fly under the radar.
  • Can you reduce or eliminate insurance on anything from home, vehicles, boat, jewelry, etc? Some insurance is ala carte and it never hurts to get an updated quote from other providers. You should get a pro-rated refund from an existing provider if you do make a switch.
  • Can you sell a vehicle? This could also save money by eliminating insurance.
  • Take time to find coupon codes before making a purchase.
  • Pick up a side job.
  • Selling photos or artwork has become more popular. You may be able to earn money when people buy your photo or use your artwork. If you can create company logo’s, take pictures of unique scenery, then maybe this is an option for you.
  • Return items that you have the option of getting store credit, cash, or credit back to your charge card. You don’t always need to have a receipt. If you get store credit you may be able to turn that into cash by selling on a marketplace (but likely you’ll have to discount it).
  • Consider selling gift cards that you may not need or use for long time. Again, you’ll probably have to sell at less than the value but it could generate quick cash.
  • Go online to join companies that pay you to complete surveys, add comments and reviews. A couple popular sites are MyPoints (also has coupon codes) and Survey Junkie.
  • Look into placing advertisements on your vehicle. One example is through Wrapify
  • Pick up a side hustle. Consider joining TaskRabbit or advertising a service or good you can provide on Craigslist or Facebook.
  • For those with more time consider starting a website or a blog. You can earn money reselling, affiliates, advertisements, selling memberships, goods, services, and the best thing about it is that it can work for you while you sleep, 24/7.
  • Do you know a lot about a topic? Consider tutoring online (maybe in person when the time is right). Teach a language, a software package, how to repair something, or make something….get creative.
  • If you don’t mind company consider babysitting or pet-sitting.
  • Sign to up to drive for Uber, Lyft, Doordash, UberEats, Grubhub or other transportation and delivery companies.
  • Deliver goods for Amazon using Amazon Flex.
  • Did you prepay for services that you can request a refund (such as lawn care, fertilization, snow plowing? Think about anything that is prepaid or paid in advance. Contact those companies/people and negotiate money back.
  • Do you have an extra room to rent out and open to sharing? Consider a temporary roommate instead of a traditional yearly lease and make it work for both parties.
  • If you have put away FSA funds you may want to submit eligible FSA expenses to get a refund.
  • Is your house going to be empty for a week or longer? If so, consider renting out your space for that time period.
  • Rent out your car at Turo.com. If you have an RV or camper that is collecting dust you may be able to rent out that too.
  • Some last resort ideas are to reduce contributions to investment or retirement accounts or withdraw from retirement accounts. Be careful with this idea. Due your due diligence. There may be a cost to withdrawing early from an investment.
  • If you feel you can not make a obligatory payment such as a loan, the sooner you notify them to discuss options the more likely you will probably have success in getting some form of relief. You may be able to defer payment(s).

Consider taking the time to create a detailed budget and discipline yourself to execute accordingly. A monthly budget can help you realize the potential to meet your goals. Evaluate various scenarios and understand the implications of your decisions whether it pertains to income or expenses. Keep in mind, not all months will have equal events. There will be seasonal periods where you may have extra income or expenses within particular month(s) that don’t apply to other month(s).

We don’t have affiliations with any of these companies for which the links are provided above. We’re simply trying to give you ideas to save money and get money back.

SiriusXM®

SiriusXM®

Reoccurring Subscriptions

Reoccurring subscriptions can be a sneaky monetizing approach for companies to continue siphoning your money when you no longer need the service. You most likely signed up for it but in reality you no longer use the subscription or you can get by with a lower level package.

These types of subscriptions are popular since people often forget to cancel before the next charge. Then it becomes a battle to get a refund. Or it’s too much of a hassle and cancelling gets put off yet again…then another charge occurs until your boiling point is reached.

Threaten to cancel

SiriusXM® usually offers attractive retention options for longer term loyal customers that are looking to cancel. Of course they don’t make cancelling easy. You need to speak to someone via the Chat Room (after you login) or over the phone…both of which can have lengthy wait times. If you want to reduce your monthly fees and still hang on to some or all of the features, contact them and request to cancel and see what they offer you. Just be prepared to cancel with no offer as the worst case scenario….but this isn’t likely.

Temporary Hold

SiriusXM® also has an option that allows you to suspend your account and save some money. This link contains the following bullet points:

  •  You can temporarily suspend your subscription one time in any calendar year for a duration of up to six months.
  • A suspended subscription will be automatically reactivated on either the date requested or the six-month anniversary of the suspension request; whichever date is earlier. If you requested a service suspension while in a promotional period, this suspension will not change the end date of your promotional period.
  • Suspensions cannot be done online. You will need to call 1 (866) 635-5027.
Getting a refund from Amazon

Getting a refund from Amazon

Amazon has an A-to-Z Guarantee to help resolve problems with purchases. Eligilibility requirements are found here. One of Amazon’s competitive advantage is their reputation to make things right and protect the consumer. Follow the six steps below to begin the process.

  1. Go to ‘Your Orders’.
  2. Locate your order in the list and click ‘Problem with Order’.
  3. Select your problem from the list.
  4. Select ‘Request Refund’.
  5. Enter your comments in the text box. (see our section on Effective Complaining before entering comments)
  6. Select ‘Submit’.

The review process can take time depending on the nature of the issue. If you’re not satisfied with the outcome there’s an appeals procedure. Comment below on your experience and join the community trying to make wrong….right.