Status Money website - good or bad?

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miamivice
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Joined: Tue Jun 11, 2013 11:46 am

Status Money website - good or bad?

Post by miamivice » Sun Dec 03, 2017 9:04 pm

I saw a Facebook post about a new website called Status Money. The concept is intriguing - type in some personal information (like financial stuff), and the website will show you how you compare to others in your area. The idea of the website is that it crowd source personal financial data, and presents the results to you so you can make better financial decisions.

The problem, of course, is why someone would reveal detailed financial information to a random website, combined with real names, address, birthdates, etc. That information would be a goldmine to a lot of people, including scammers.

Have you seen this website, and do you know anyone that has gone through with creating an account? I'll bet a lot of college age students might be interested.

I'm interested, but too gunshy about personal information to go ahead with it.

TravelGeek
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Re: Status Money website - good or bad?

Post by TravelGeek » Sun Dec 03, 2017 9:28 pm

I have zero interest in providing anyone that information. And I don’t particularly care about knowing how my data compares to others. I know I am doing fine.

student
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Joined: Fri Apr 03, 2015 6:58 am

Re: Status Money website - good or bad?

Post by student » Sun Dec 03, 2017 9:32 pm

I am not interested. I think https://statisticalatlas.com/United-States/Overview and https://dqydj.com/ have sufficiently informative information.

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Misenplace
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Re: Status Money website - good or bad?

Post by Misenplace » Mon Dec 04, 2017 12:55 am

These polls are just collecting data on you. Data they can sell to the highest bidder who wants to learn how to better manipulate you in the future with respect to marketing, consumption, voting patterns, elections, etc.
Do some research on psychographics and Big Data. You will see.
Why would any boglehead be interested in providing their data on these platforms?

22twain
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Re: Status Money website - good or bad?

Post by 22twain » Mon Dec 04, 2017 8:01 am

miamivice wrote:
Sun Dec 03, 2017 9:04 pm
The idea of the website is that it crowd source personal financial data, and presents the results to you so you can make better financial decisions.
If the results are based only on the responses to the site's poll(s), then the results are worthless because of (self-)selection bias. This is a major factor in why the moderators here turned off this forum's poll mechanism.

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oldcomputerguy
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Re: Status Money website - good or bad?

Post by oldcomputerguy » Mon Dec 04, 2017 8:47 am

Why should I base financial decisions on what others in my area are doing?
Anybody know why there's a 20-pound frozen turkey up in the light grid?

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