So Money - Episode 166

Ryder Kessler

Founder of DipJar

A question for you: Do you even leave a tip when you go to your local coffee shop? Do you always leave a tip, sometimes? You know, I do this maybe once a week, depending on how often I frequented the coffee shop. It also depends on my mood! I’ll drop a dollar in the jar, maybe a little bit more if my order is particularly complicated, and say there’s like a really long line and the staff’s being really cheerful and doing a good job of getting everybody ushered through the line.

It’s not a daily habit or even a regular habit, and it used to be that when we were paying with cash for most of these day-to-day expenditures, that tipping was easier, right? We would just drop that dollar in, or drop whatever change we go into the jar. But now since everything’s gone electronic…tipping with cash has become less and less of a habit or of a likelihood.

Our guest today has come up with a solution. His name is Ryder Kessler and he came up with a business idea while on line at his local coffee shop. Watching people skip the cash tip jar at the counter, he saw a need in the marketplace to help those who rely on cash tips to bolster their income. He created a product called DipJar.

It’s a tip jar for credit cards. It’s a physical device that sits next to the cash tip jar and allows tips with a one-step “dip” of the credit card.

Three key takeaways:

  • Ryder’s personal perspectives on money.
  • What was it like growing up in New York. How did that shape his views on money? And the concept of cashless generosity – can it work?
  • How Ryder’s bad money behaviors impact his life.

If you would like to learn more about Ryder Kessler, visit his website or follow him on Twitter @ryderkessler.

One of my favorite quotes from the interview: “I’m doing something I have no business to be doing” – Click to Tweet

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