- Up at 5 two days in a row. Sleepy. #
- May your…year be filled w/ magic and dreams and good madness. I hope you…kiss someone who thinks you’re wonderful. @neilhimself #
- Woo! First all-cash grocery trip ever. Felt neat. #
- I accidentally took a 3 hour nap yesterday, so I had a hard time sleeping. 5am is difficult. #
- Wee! Got included in the Carnival of Personal Finance, again. http://su.pr/2AKnDB #
- Son’s wrestling season starts in two days. My next 3 months just got hectic. #
- RT @Moneymonk: A real emergency is something that threatens your survival, not just your desire to be comfortable -David Bach # [Read more…] about Twitter Weekly Updates for 2010-01-09
Financial Pet Peeve: Fees To Receive Paper Bank Statements
Today’s post is written by Tim of Faith and Finance. It was written for a blog swap run by the Yakezie personal finance blog network to answer the question “What is your biggest financial pet peeve?“
Chances are, you’ve probably received a few notices from your bank or investment company about receiving e-statements. I’m all for getting less mail, and having online access to my statements is a really nice feature. In fact, most of my statements are online now.
So why is it a pet peeve if I LIKE viewing statements online? Here’s why: If you don’t get the online version of your statements, many places will charge you for the paper statement. My bank (which will go unnamed) pulled this very move. If you want to receive paper statements you had to pay a few dollars each year for the ‘service.’ Now I understand that printing statements costs money, but what bothers me the most is that the bank continues to send junk mail even though I opted in to the e-statements.
It seems a little impolite to say “You have to stop using paper…but we’ll keep sending you stuff you don’t want in the mail.” Each time they send me something in the mail promoting a new product or those goofy cash advance checks, I think about how much money they’re NOT saving.
***Ok ok, I’ll stop ranting. That’s what happens when you’re challenged to write about a pet peeve…you get a little excited. 🙂
Solutions to the problem
I’m a firm believer that if you’re going to complain about something, you should be willing to suggest alternatives, so here’s what I’d do differently if I were the banks.
- 1. Don’t punish for paper statements, incentivize for online statements
If you want to connect with people online and save money in the long run, provide an incentive to make the shift to online statements. Money and interest rates talk, so maybe provide $5 plus access to a higher paying certificate only available for our online banking members.
- 2. Consolidate the message.
If people want to get paper statements still, don’t charge them – instead, use the statement envelope to promote your products. The envelope is already paid for, so why not use it for marketing purposes. Now I know they’ll say, “people don’t read statement stuffers.” To that I’d say, “what makes you think they’d read a dedicated mailer then?”
Those are my two cents. Has anyone thought the same thing? How do you feel about paper statements vs. online statements?
[Jason’s note: There is a fee that irritates me a lot more than paying to get a paper statement. I hate “online access” fees. Those are the fee where you get charged for other people doing less. They are usually called convenience fees or, in the case of government, technology fees.]
The Friday Tax
I’ve been at the doctor’s office every time my kids have been scheduled to get shots. I let them know what to expect before the shot, hold their legs still during, and comfort them after. It’s not pleasant, but it is a bonding experience. It builds trust. My kids know that if I tell them something won’t hurt, it won’t, because I tell them when it will. Unpleasantness is never a surprise. Somehow, this policy hasn’t led to a fear of the doctor. They always know what to expect and how tough I’m expecting them to be, so they don’t worry.
Last Friday, it was time for the unpleasant duty. Both of the girls had checkups and one was due for shots. I took the afternoon off to meet my wife and kids at the clinic.
It was a beautiful day. It was warm, the sun was shining, and traffic was light. The windows were down and music was playing; it was an almost perfect start to the weekend.
Did I mention I have a lead foot?
“No, honey, I don’t think we need to buy that” certainly loses some of it’s effect shortly after “Uh, honey? I just paid the voluntary driving-too-fast tax.”
For days, I heard, “Well, I wasn’t the one who got a speeding ticket!” This sounds like nagging, but it’s not. I am normally the one issuing reminders about spending and saving. This time, it was her turn. It’s not my job to hold her accountable. It’s our job–jointly–to hold each other accountable. If I mess up–and I did–she is perfectly within her rights to hold me feet to the fire. I certainly don’t hesitate when the roles are reversed.
I haven’t had a ticket in almost 12 years, so this isn’t a habitual problem. It is an expense that should have been avoided.
Now, I’ve got to take a day off of work and go to court to try to keep it off of my record, so it won’t affect my insurance rates. That means court costs on top of the fine.
Monetary weakness or a lapse in judgment can derail goals. We haven’t destroyed our budget for the month, but it’s not an insignificant amount of money. I try figure enough padding into our budget that this isn’t painful, but it is money that could have been “snowflaked” onto our debt. It could have meant another $150 in the vacation fund. That is disappointing.
It’s time to establish the habit of driving the speed limit.
Update: This post has been included in the Money Hacks Carnival.
Distraction
At work, there are a dozen coworkers who can(and do) interrupt me. Though its not in my actual job description, there are a dozen customers with my direct line.
On an average day, I get interrupted at least ten times with issues that require my full attention. When an issue requires my full attention it throws me off my stride. Is an issue requires ten minutes to resolve, discuss, or explain, and it takes another ten minutes to recover my “groove”, that is twenty minutes wasted out of about every fifty. That is almost half of my day unavailable for the things that are strictly within my job description. On a good day.
Naturally, this takes a toll on my productivity.
Avoiding Distractions
1. Warn People. If you have been allowing interruptions and distractions, it may come as a shock to your coworkers that easy time is over. Send an email to everyone who normally expects your attention.
2. Turn off your email. I check my email three times per day. Morning, noon, and night. An auto-response explaining your plan may be helpful.
3. Unplug the phone. I’m fortunate to have a “Do not disturb” button on my phone. Unplug it, turn off the ringer, or drop it in the sink. Just don’t answer it.
4. Close your door. This isn’t always possible, but if it is, do it. It provides a wonderful psychological barrier to anybody thinking about interrupting you.
5. Block the internet. If you have an opportunity to work unmolested, don’t waste it on the internet. BE PRODUCTIVE!
Now, is this a sustainable solution? I’m not sure. I work in a small company and have varied responsibilities, including reviewing potential contracts, demonstrations, and a bit of high-level customer care. It doesn’t appear to be possible to sequester myself every day, but I’m making an attempt to do so on at least once every other week.
How do you keep work distractions to a minimum?
Prepping for an Estate Sale
At the end of the month, we’re having a massive garage/estate sale. When my mother-in-law died, she left us a lot of stuff.
A lot.
Really, when I say “lot”, I mean it. When most people say they have a lot of stuff, they mean they’ve got a closet to clean out. That’s similar to looking at a “scale of the universe” app and comparing a grain of salt to the Oort cloud. We’ve donated several truckloads of blankets, jackets, and toiletries to a homeless shelter and more than 80 rubbermaid containers full of clothes to the Salvation Army. That’s on top of two dumpsters(big enough to park a truck in) full of garbage of things we didn’t think were worth salvaging. That has still left us with several rooms packed full of stuff.
When I say ” a lot”, I mean it in a visceral, oh-my-god-can-this-be-over-or-should-we-consider-arson kind of way.
Now, it’s time to get rid of the stuff that’s left.
The things that have sentimental value have already come home with us.
The things that look unique, rare, or collectible–like the 1970s Pepsi glasses–have been set aside for more research. They may end up in the sale, or on eBay, depending on what we find out.
From here, I think I can just follow my garage sale guide.
We’re going to run the sale on Friday, Saturday, and Monday of Labor Day weekend, to maximize traffic.
We’ll advertise in the paper and put up some signs. The house is on the busiest street nearby, so passing traffic should be high.
The nice thing about having an emptied house is that setup can be completely done ahead of time. We’re setting up tables and starting to price it all this weekend.
On the days of the sale, we’ll have at least 2 people working the entire time. One will be inside, while the other will be outside for the tools and furniture that are getting sold. Both will have money and be able to make change.
Outside, we’ll have the bigger pieces of furniture, tools, and some kid stuff to draw in passerby. Inside will be the appliances, jewelry, and the small and/or valuable items. We’ll only be setting up in the living room and dining room, with the back hallway and kitchen roped off, to control access and visibility.
We’ve got a bit of help available at different times over the weekend, so we should be able to handle the entire sale, including breaks, relatively smoothly.
Have you ever run an estate sale? Anything I’m missing?
5 Ways to Save Money by Going Green
This is a guest post by MoneySuperMarket.
Making changes in your daily life that minimize your impact on the environment is the right way to go green. While most people are happy just to know the environment is being protected, there are other benefits to going green. Pick a few of these five lifestyle changes and enjoy having a little extra cash in your pocket as well.
Eat More Meals At Home
Dining out is a fun family experience, but it takes its toll on your wallet and your neighborhood. Restaurants create millions of tons of trash each year. This tip is to the people who already avoid fast food for health reasons, but cooking with your friends and family is a great way to get closer.
Pick Up A Creative Hobby
Some hobbies require a lot more equipment or materials, therefore creating more waste and using more energy. Creative extracurricular activities use inexpensive or recycled goods instead, requiring fewer trips to the sports goods store. Woodcarving can be practiced with scraps from cabinetmakers, while yarn for knitting can come from old sweaters that are no longer worn.
Cool Off The Hot Water Heater
Each water heater features a small screw or dial that allows you to set the perfect temperature. Millions of people have their heaters set higher than necessary, wasting a lot of electricity each year. You can safely turn the heat down to about 125 degrees Fahrenheit, which could net you some hefty annual savings if it is at 140 or 150 degrees right now. Most people never use water for washing or showering that is higher than 130 when mixed in the tap.
Carpool With Co-workers
Driving back and forth to work puts a lot of wear and tear on your vehicle. Rising gas prices has made it even harder to afford a long daily commute by car. Sharing the responsibility among a group of co-workers or fellow parents at your child’s school can help to spread out the costs and the impact on the environment.
Try Your Hand At Gardening
You don’t have to have a green thumb to grow your favorite herbs in a windowsill pot. Start out easy and try a potted dwarf lime tree or a terracotta planter full of strawberries on the patio. The vegetables you harvest don’t have to contain pesticides. Compare your gardening costs against prices for high-end organic produce at the store. You could save thousands of dollars each year and reduce the damaging effects of large-scale agriculture.
