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Lost Wallet: What to Do Before It’s Gone

The Costanza Wallet — Image by shareski via Flickr

I’ve never been mugged. Hopefully, fate has decided that I never will be. Given my habits, it is far more likely that my money clip will fall out of my wallet without me noticing.

That’s a significant piece of my life. That would mean I lost my driver’s license, my debit card, my business credit card, my insurance cards, my carry permit, and the only credit card I carry.

What happens when you lose your wallet? You go to the DMV and get your driver’s license replaced. You call your credit card companies and ask them to invalidate your credit card numbers and send you new cards. You write off the missing cash and hope you don’t need the business cards that you tucked in behind the photo of your great-grand-uncle’s neighbor’s cousin’s mistress’s puppy.

How do you reach your credit card company? You take the card out of your wallet, flip it over, and call the number on the back. But you lost your wallet? What now?

Do you have every statement, that comes with the phone numbers you need to call? I don’t. At this moment, I do not have the phone number for the bank that issues the debit card for my Health Savings Account. I don’t actually know who issued the card. I don’t even know who I would call to report the card missing.

How do you prepare for that? What can you do do make your life much less miserable when your wallet walks aways with a pickpocket, or falls out of your pocket while you’re tooling down the highway on the back of a motorcycle doing 100 miles per hour, dodging the police and winking at the innocent passerby rocking out to really bad back-room country western music in a late model orange convertible? (That’s probably just me.)

How would you prepare for a lost wallet?

There is an 6 step solution to remove all of the worry about someone finding your wallet and using your credit card to fund a Russian adult chat membership, the only site where basement-dwelling losers can talk to someone pretending to be the cooperative mail-order bride they are about to order.

Take everything that matters out of your wallet.
Find a copy machine or a scanner.
Put everything from your wallet on the scanner.
Scan it.
Flip the cards over and scan again.
Either print the scan and put it in a fire-proof safe, or encrypt it and email it to someone you trust who does NOT live in the same house you do. If your house burns down, you want to have access to the files.

Depending on the number of things you keep in your wallet, you might have to repeat the steps a few times to get it all copied. You definitely want to copy both sides, so you can have the card numbers and the phone numbers saved.

Now, if you lose your wallet, you have all of the information you need to deal with the problem and get those cards cancelled.

How do you track your cards and contact information?

How to Prioritize Your Spending

Finance, Uncategorized

Don’t buy that.

At least take a few moments to decide if it’s really worth buying.

Too often, people go on auto-pilot and buy whatever catches their attention for a few moments. The end-caps at the store? Oh, boy, that’s impossible to resist. Everybody needs a 1000 pack of ShamWow’s, right? Who could live without a extra pair of kevlar boxer shorts?

Before you put the new tchotke in your cart, ask yourself some questions to see if it’s worth getting.

1. Is it a need or a want? Is this something you could live without? Some things are necessary. Soap, shampoo, and food are essentials. You have to buy those. Other things, like movies, most of the clothes people buy, or electronic gadgets are almost always optional. If you don’t need it, it may be a good idea to leave it in the store.

2. Does it serve a purpose? I bought a vase once that I thought was pretty and could hold candy or something, but it’s done nothing but collect dust in the meantime. It’s purpose is nothing more than hiding part of a flat surface. Useless.

3. Will you actually use it? A few years ago, my wife an cleaned out her mother’s house. She’s a hoarder. We found at least 50 shopping bags full of clothes with the tags still attached. I know, you’re thinking that you’d never do that, because you’re not a hoarder, but people do it all the time. Have you ever bought a book that you haven’t gotten around to reading, or a movie that went on the shelf, still wrapped in plastic? Do you own a treadmill that’s only being used to hang clothes, or a home liposuction machine that is not being used to make soap?

3. Is it a fad? Beanie babies, iPads, BetaMax, and bike helmets. All garbage that takes the world by storm for a few years then fades, leaving the distributors rich and the customers embarrassed.

4. Is it something you’re considering just to keep up with the Joneses? If you’re only buying it to compete with your neighbors, don’t buy it. You don’t need a Lexus, a Rolex, or that replacement kidney. Just put it back on the shelf and go home with your money. Chances are, your neighbors are only buying stuff so they can compete with you. It’s a vicious cycle. Break it.

5. Do you really, really want it? Sometimes, no matter how worthless something might be, whether it’s a fad, or a dust-collecting knick-knack, or an outfit you’ll never wear, you just want it more than you want your next breath of air. That’s ok. A bit disturbing, but ok. If you are meeting all of your other needs, it’s fine to indulge yourself on occasion.

How do you prioritize spending if you’re thinking about buying something questionable?

How Much is Your Pet Worth?

Finance, Life

A few years ago, one of our cats had a urinary tract blockage. When that happened, the cat’s bladder became almost rock-hard. He was in pain.

Naturally, this came to our attention late on a Saturday evening. Our choices were to leave the cat in pain or head to the emergency vet. One x-ray, one emergency catheter, and 2 nights in the vet’s office later, we charged the $750 bill and brought the cat home. He lived about two more years and had to be on a special UT-friendly diet. He spent the next two years with poor bladder control and very little energy.

About the same time, I had a coworker with a cancer-ridden cat. Until that time, I had no idea that you could get chemotherapy for a cat. Between the chemo and the regular surgeries to remove tumors, they were dropping a few thousand dollars every few months.

Recently, a friend’s cat ate a ball of twine and narrowly avoided intestinal surgery that would have cost $2500. He was willing to pay instead of seeing his 8 year old cry. I figured a new kitten would soothe her hurt.

How much is too much to spend on an animal?

When our cat needed a trip to the fuzzy emergency room, we had no savings. I’m not sure how we were keeping our bills paid. $750 was a lot of money, but we didn’t hesitate. Afterward, we discussed it and decided that it wouldn’t happen again. When a pet needed that much care, it would be time to put it down.

We’ve currently got a 17 year old arthritic cat. I tried discussing its end-of-life options, but my wife looked at me like I was asking her to punt bunnies into a lake. I fear we’re going to be paying a lot to stretch out the end of the cat’s life.

Now, before anyone tells me that I hate animals, we have 5 cats, 3 kids, 2 gerbils, 2 pythons, and a dog. We are an animal-friendly house. Or we keep spares.

That said, it’s the natural order of things. People outlive their pets. When you buy a pet–with the exception of giant tortoises and some birds–some part of you knows you are going to outlive it. What’s the right amount to spend, trying to stretch out the most uncomfortable years of a pet? When does the financial burden outweigh the companionship? When do I go from cold-hearted jerk to financially-responsible pet-owner?

For the pet owners out there, how have you dealt with this? How much would you spend to keep your pets kicking?

Discount Gift Cards: How Much Can You Save?

Finance

Do you know where you shop regularly?

Would you be happy if the things you bought there were suddenly, magically discounted?

It could happen.

I don’t think the game store down the road is suddenly going to institute a “Jason Rocks” discount program, but some of the bigger chains I visit have an unofficial option that can save you money, and it’s not a five-finger discount.

You can buy discounted gift cards. You can find a gift card exchange being run on a number of websites. How does it work?

There are two kinds of card exchange.

The first simply connects buyers and sellers. If you want to buy a gift card, you browse the list of available cards until you find something you like. You place your order with the exchange, who then take a fee and pass the rest of the payment to the seller, who’s got the job of sending it to you. When you get the card, you get to find out if the balance still exists or if it’s going to expire in the morning. Most people don’t sell a lot of gift cards, so their reputation isn’t really at stake. Avoid these, unless you like gambling.

The second kind of exchange actually buys the cards from the sellers and verifies the balance and expiration date before posting them for sale. When you go shopping, you’re dealing with a company that is putting its reputation–both with its customers and its bank–on the line. If there’s a problem, you’ve got someone to contact who probably isn’t going to vanish.

You visit the site, find a business you want to visit, and buy a card at a discount. The discount ranges from around 3% up to around 30%, with most discounts hovering around 10%. That means–depending on the store–you can get a $100 gift card for $90. Not a bad deal, especially if it for a store you’d be visiting anyway.

Have you ever bought a second-hand gift card? How did it work for you?

Why I Hate Payday Loans

Finance

I hate payday loans and payday lenders.

The way a way a payday loan works is that you go into a payday lender and you sign a check for the amount you want to borrow, plus their fee. They give you money that you don’t have to pay back until payday. It’s generally a two-week loan.

Now, this two week loan comes with a fee, so if you want to borrow $100, they’ll charge you a $25 fee, plus a percent of the total loan, so for that $100 loan, you’ll have to pay back $128.28.

That’s only 28% of actual interest; that’s not terrible. However, if you prorate that to figure the APR, which is what everyone means when they say “I’ve got a 7% interest rate”, it comes out to 737%. That’s nuts.

They are a very bad financial plan.

Those loans may save you from an overdraft fee, but they’ll cost almost as much as an overdraft fee, and the way they are rigged–with high fees, due on payday–you’re more likely to need another one soon. They are structured to keep you from ever getting out from under the payday loan cycle.

For those reasons, I consider payday loan companies to be slimy. Look at any of their sites. Almost none are upfront about the total cost of the loan.

So I don’t take their ads. When an advertiser contacts me, my rate sheet says very clealy that I will not take payday loan ads. The reason for that is–in my mind–when I accept an advertiser, I am–in some form–endorsing that company, or at least, I am agreeing that they are a legitimate business and I am helping them conduct that business.

In all of the time I’ve been taking ads, I’ve made exactly one exception to that rule. On the front page of that advertiser’s website, they had the prorated APR in bright, bold red letters. It was still a really bad deal, but with that level of disclosure, I felt comfortable that nobody would click through and sign up without knowing what they were getting into. That was a payday lender with integrity, as oxymoronic as that sounds.

Cut Your Business Costs with Eco-Friendly Energy

Business

This is a guest post.

Improving your carbon footprint can fall low on the list of professional priorities for many business owners. Yet, as we all become increasingly aware of the implications of ecological practices, opting to go green is an appropriate business decision.

As suppliers and business to business contractors tailor their products in favour of conservational customs, it is likely that adopting eco-friendly operations within your company will benefit both your books as well as the environment.

By making small, uncomplicated steps, government research proposes that, together, UK businesses could save in the region of £23 billion per annum. This proposed figure suggests that snubbing sustainable efforts is at an economic cost to owners individually, in addition to any ecological expense.

As the importance of your carbon footprint is established, deciding which areas within your company can be conveniently ecologically enhanced is a simple way to get started.

Speak With Your Energy Provider

Many energy providers now offer guidance to their customers surrounding any eco-friendly improvements that could be made.

Business electricity from British Gas comes complete with free energy efficiency advice to help ‘cut down your energy consumption and reduce your electricity bill’. The advantages of this initial consultation are augmented by the ongoing provisions incorporated in all business electricity from British Gas packages.

Select a supplier who is willing to help you and your business reduce the impact of your Climate Change Levy (CCL) and is eager to invest in renewable energy resources.

Say ‘Goodbye’ to Guesstimates

According to research completed by British Gas in 2011 ‘companies typically spend as much as 46 per cent of their energy usage outside of business hours’.

Although it is relatively easy to predict the periods when your business’ energy usage is at its greatest, monitoring your actual consumption may highlight any unexpected wastage.

A facility such as Business Energy Insight™ – available with business electricity from British Gas – does exactly what it says on the tin, giving consumers an awareness of their confirmed energy consumption.

Combined with accurate meter readings from Smart Metering or similar, energy insights eliminate any estimation and uncertainty. Through this perceptiveness, business consumers are able to monitor, measure and model their energy utilisation, saving money and resources.

Don’t Go It Alone

Being unsure of how to go green is one of the reasons many businesses choose to linger with standard systems. As well as expert assistance from energy advisory services, schemes are in place which can structure your steps into the world of energy efficiency.

The IEMA Acorn Scheme presents a progressive profile of six stages for business owners to accomplish. These stages ensure that legal requirements are covered and can be completed over a phased period to fit with other business demands.

On completion of the scheme, an IEMA Acorn Certificate is attained to confirm your businesses compliance with British Standard (BS) 8555. Your details are also entered onto the IEMA Acorn Register.

Organically Positive PR

Every organisation needs their Unique Selling Points. Though your services, products or facilities may speak for themselves, going green is the current way to enrich your business.

Clients and customers want to buy from those they trust and often those who follow an ethical ethos. Choosing to ‘go green’ and consistently demonstrating and delivering ecological practises will verify the concerned culture of your company.

While investing your time into employing eco-friendly systems may not reap instant rewards, the positive connotations surrounding conservation will always ensure that you are ahead of the game when in competition with a company that doesn’t deliver on these principles.

Whether you choose to be officially certified via IEMA Acorn or you simply state your environmental policies on your website and company literature, being ecologically aware can cause an upturn in capital as well as cutting resource costs.

Taking Things Further

When you are hoping to tackle more than the basics and want to do more to aid our environment, there is a myriad of informational services willing to help.

Making this move doesn’t have to cost the earth, business grants are available to help you render these affirmative changes. Check online at www.grantsgreenmachine.com for any that may be applicable for your industry.

Locally, councils may be able to offer either erudition or funds specifically appropriate to your project within your region.

Conservation doesn’t have to be costly; check your books and you may find that going green could profit both your environment and your enterprise.

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