- RT @mymoneyshrugged: The government breaks your leg, and hands you a crutch saying "see without me, you couldn't walk." #
- @bargainr What weeks do you need a FoF host for? in reply to bargainr #
- Awesome tagline: The coolest you'll look pooping your pants. Yay, @Huggies! #
- A textbook is not the real world. Not all business management professors understand marketing. #
- RT @thegoodhuman: Walden on work "spending best part of one's life earning money in order to enjoy (cont) http://tl.gd/2gugo6 #
Check Your Bills
Today, I discovered our AOL billing information. Turns out we’ve been paying for dial-up via automatic bill paying that we thought we cancelled in 2000. $1,800 later, we called to cancel. Customer service congratulated us on being loyal members for over 13 years. FML -Jay
- Image by roberthuffstutter via Flickr
I am a huge fan of automating my finances. My paycheck is direct-deposited. My savings are automatically transferred from my checking account to my savings account. Almost every bill I receive regularly is set up as an automatic payment in my bank’s bill-pay system. I even have my debt snowball automated.
The only question left is whether it’s possible to automate too far. Can you automate past the point of benefit, straight into detriment? The primary benefit of automation is knowing that you can’t forget a payment. The other benefit is freeing up your attention. You don’t have to give any focus to paying your bills, freeing you to worry about other things.
The problem with the second benefit is the same as the benefit. If you don’t give your bills any attention, how do you know if there is a problem? If something changes–an extra fee or a mis-keyed payment–you won’t notice because you haven’t been giving the bills any focus.
Sometimes, this means you are paying an extra fee without noticing it. Sometimes, if your due date changes, it can mean late fees. Even if nothing goes wrong, you are missing the opportunity to review what you are paying to ensure your needs are being met as efficiently as possible.
What can you do about it? I put a reminder on my Life Calendar to check my bills each month. I pick one bill each month and try to find a way to save money on it. I review the services to make sure they are what I need and if that doesn’t help, I call and ask for a lower price. If it’s a credit card, I ask for a lower interest rate. For the cable company, I ask if they will match whatever deal they have for new customers.
Every company can do something to keep a loyal customer happy. All you have to do is ask.
Do you automate anything? How do you keep track of it all?
New Year Goals
I’m not a fan of New Year’s Resolutions. They are generally drunken promises made on December 31st that are broken by the middle of January, if they are remembered at all. I don’t make resolutions.
My goal for 2010 is to complete one major self-improvement project each month. That’s an entire year of 30-day projects. As each month goes on, I will be updating this blog with the status of each project. Some of the projects will be physical, some will be mental, some will be improvements on my relationships. My goal is to do something meaningful, useful and challenging each month.
Here’s my list:
- January: Wake up at 5am AND read to my kids every night before bed.
- February: Do 100 push-ups at one time by the end of the month. There is also a secret project this month. I’ll be keeping notes and posting in March.
- March: Do 100 sit-ups at one time by the end of the month.
- April: Spring Cleaning. I will declutter every room in my house this month.
- May: Have a sit-down dinner with my family, at the dining room table at least 3 times per week.
- June: No computer use, while anyone else in the family is awake, except for household necessities, such as bills.
- July: Write fiction every day.
- August: Buy nothing new this month.
- September: Attempt to learn a new language. http://ijaar.com/29-free-websites-to-learn-a-new-language/
- October: No yelling at the kids.
- November: No complaining. Not at home, not at work.
- December: I will have done 14 projects this year. December is a month off.
Regret
There comes a time when it’s too late to tell people how you feel.
There will come a day when the person you mean to talk to won’t be there. Don’t wait for that day.
“There’s always tomorrow” isn’t always true.
Overworked and Underappreciated
I once worked for a company that was so confused that, not only did I not meet my last immediate supervisor for 6 months, but he didn’t know what I did or who I supported. He was my supervisor on paper for payroll and organizational purposes only.
Does your boss know what you do?
More recently, I was called into my current boss’s office to get scolded for low productivity since I don’t produce as much as the other programmers.
That’s not my favorite thing to do in the afternoon. I’d rather spend the afternoon playing Angry Birds improving our software.
In response, I spent the week logging my time. Before I left on Friday, I sent my boss an email that started out with:
When we spoke on Monday, you compared my productivity unfavorably to the other developers. I don’t think that’s a fair comparison as I do more categories of tasks than the others. I don’t think you realize how many additional responsibilities I’ve taken on over the years.
I continued from there with a summary of each day’s work last week. The short version is that, while being productive, I spend less than half of my time on my primary job function because I’ve slowly taken on a managerial role.
I’m on vacation this week, so it will be a few days before I find out if my email will make a difference.
Now, this scolding was my fault. I know I spend my day doing much more than just writing code. I’ve told my boss that before, but I’ve never made sure he understands the scale of the extra work, and I’ve never proven it with a detailed log.
This was poor personal marketing.
In the future, I have to make sure that I keep him in the loop with a summary of the extra work I do, like the training, product demos, sales calls, and estimates I’m involved in.
We’ll see how well that works.
How would you handle a situation like this? Daily emails? Whining? Kicking a garbage can across the room?
Credit Peril
When my mother-in-law died, we went through all of her accounts and paid off anything she owed.
The Discover card she’d carried since the 80s–a card that had my wife listed as an authorized user–had a balance of about $700. We paid that off with the money in her savings account. They cashed out the accumulated points as gift cards and closed the account.
A few months ago, we decided it was time to buy an SUV, to fit our family’s needs. We financed it, to give us a chance to take advantage of a killer deal while waiting for the state to process the title transfer on an inherited car we have since sold.
Getting good terms was never a worry. Both of us had scores bordering on 800. Since our plan was to pay off the entire loan within a few months, we asked for whatever term came with the lowest interest rate.
Then the credit department came back and said that my wife’s credit was poor. I chalked it up to a temporary blip caused by closing the oldest account on her credit report and financed without her. No big deal.
Since we decided to rent our my mother-in-law’s house, we’ve discussed picking up more rental properties. That’s a post for another time, but last week, we went to get pre-approved for a mortgage. During the process, the mortgage officer asked me if my wife had any outstanding debt that could be ignored if we financed without her.
Weird.
A few days ago, we got the credit check letter from the bank. Her credit score? 668.
What the heck?
I immediately pulled her free annual credit report from annualcreditreport.com, which is something I usually do 2-3 times per year, but had neglected for 2012.
There are currently two negatives on her report.
One is a 30 day late payment on a store card in 2007. That’s not a 120 point hit.
The other is an $8 charge-off to Discover. As an authorized user. On an account that was paid.
Crap.
We called Discover to get them to correct the reporting and got told they don’t have it listed as a charge-off. They did agree to send a letter to us saying that, but said they couldn’t fix anything with the credit bureaus.
Once we get that letter, it’s dispute time.
