04.20.23 Hey Big Spender, Manufacturers Are Playing You / Lower Hearing Aid Prices At Last

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 20 April 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Consumer goods manufacturers are using a targeted strategy to rip off consumers with vaunted versions of self-care and home products, boasting massive profit margins on their so-called premium lines. Don’t fall for this marketing scheme. Also, after shameless industry cartel gouging forever, OTC FDA approved free market hearing aids are finally available at significantly lower prices - and some are getting great reviews. Manufacturer Mind Games: Segment 1 Ask Clark: Segment 2 Hearing Aid Prices: Segment 3 Ask Clark: Segment 4 Mentioned on the show $90 cream and $10 toothpaste: Companies target big spenders HumbleDollar: Home / Investopedia Academy Schwab - Your U.S. Investing Education Center Vanguard - Education / Fidelity Learning Center Clark.com Investing & Retirement Target Date Funds: Clark's Favorite Retirement Investment Cell Phone Protection: These Credit Cards Will Replace Your Stolen or Damaged Phone Should You Buy Cell Phone Insurance? 7 Best Over-the-Counter (OTC) Hearing Aids of 2023 Use these security keys to lock down your computer and protect your personal info The Strongest Protection for Your Online Accounts? This Little Key Community.Clark.com Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I'm so glad to welcome you here at the Clark Howard Show. Our mission is to serve you and
0:09.3	empower you to make better financial decisions in your life. One decision that will help
0:15.3	you make better decisions is to sign up for our free newsletter. How about that?
0:23.7	Clark.com slash newsletter is where you get it done. We work so hard to research things to
0:32.3	protect and build your wallet. And so you know what's great? If you don't like our newsletter
0:39.6	after I got you to subscribe, we make it really easy for you to unsubscribe. And speaking
0:45.9	of money, I want you to be aware there's a lot of mind games going on right now from consumer
0:53.4	product manufacturers. You got to know what's going on to protect your wallet. And I have
1:00.2	updated great news for you on hearing aids. FDA approved hearing aids. The great prices are
1:10.1	actually here after the change in federal law and rules. It's been a long slog to get to the
1:19.1	lower prices, but they are here and the days of having to pay six, eight or $10,000 for hearing
1:26.1	aids. That's in the rear view mirror. So the opposite is happening right now. If you go to the
1:34.5	discount store, you go to Walmart, you go to Target, you go to the supermarket, consumer goods
1:41.7	manufacturers are using a very targeted strategy where they are ripping off people at the
1:50.9	higher end of the income sector, typically going after depending on the manufacturer, the top
1:59.1	third of income earners to the top 40% of income earners in the United States, using an old tactic
2:06.8	to get so deep in your wallet, you can't imagine. So we've always had new and improved, new and
2:12.8	improved this, new and improved that. And it's all about trying to get you to use this new version
2:19.5	of this laundry detergent or soap or deodorant or whatever consumer product is we're buying.
2:28.4	But now manufacturers with a fine tooth comb are targeting people at the higher end of income
2:37.3	with complete ripoff versions that are so far beyond just new and improved. It's crazy. How about
2:45.0	$10 toothpaste? Man, I mean, it's wild when you look at the toothpaste style and see what people
	...

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