What a great weekend for Hawthorne Credit Union! Why was it great? It was great because we demonstrated support of two very worthwhile organizations in Bolingbrook and Naperville.
First---our fantastic representation in the American Cancer Society’s Relay for Life Walk held last Friday @ Naperville North High School. We had the highest turnout ever of Hawthorne employees and their family members for a community volunteer event. I would like to thank our two staff co-captains Cheryl Lestina and Carl Freundt for their special efforts to make this a successful event for the “Relay” and for Hawthorne. Their efforts along with those of several others: Carla, Becky and Mary contributed to a fun night and raised more than $2,000 for the American Cancer Society. What a great way to raise money for an important cause while having a good time and representing Hawthorne all at once!
Thanks to everyone who participated!
A special thank you to Judy Clyne and her husband John who attended the Bolingbrook Park District Dance Force Awards Dinner last Saturday night. I know they both had a very busy and full day last Saturday topped off by the awards dinner. As Judy stated in her email, we do make a difference in our communities---not just through the services that we offer and how we help our members, but also how we help out various community based organizations. We should all be proud of the way Hawthorne Credit Union was represented this past weekend—and how you made that distinction!
Thanks again to all who participated.
Carl S.
Wednesday, June 27, 2007
Roth IRA - - more than just a great retirement investment.
Roth IRAs: The Swiss Army Knife® of Financial Planning
The Roth IRA is a great retirement program. The Roth allows the owner a great degree of flexibility and control, not available in other retirement vehicles. The referenced article goes over some of those points. I consider the Roth IRA one of the best gifts that Congress has given US citizens. I encourage my clients that qualify to fund their Roth contributions.
Mike Pozzi
Investment Adviser Representative
Hawthorne Credit Union
630-983-2310
pozzim@financialnetwork.com
The Roth IRA is a great retirement program. The Roth allows the owner a great degree of flexibility and control, not available in other retirement vehicles. The referenced article goes over some of those points. I consider the Roth IRA one of the best gifts that Congress has given US citizens. I encourage my clients that qualify to fund their Roth contributions.
Mike Pozzi
Investment Adviser Representative
Hawthorne Credit Union
630-983-2310
pozzim@financialnetwork.com
Roth IRA - - more than just a great retirement investment.
The Roth IRA was first introduced in 1998. Since its introduction, it has become an investment program of choice for a number of our clients because of its versatility.
Like the regular IRA, annual retirement contributions for 2007 to the Roth IRA are $4,000 per person (or $5,000 if you are over age 50) and you have to April 15th to make contributions (Roth IRA contributions are subject to a phase out based on income. You need to be in a qualified income level to contribute).
And, although Roth IRA contributions are not tax-deductible, you may still benefit from the ability to withdraw earnings tax-free.
Here are a few examples of the Roth IRA’s flexibility:
** Saving for college tuition? You can draw on a Roth account to help with your child’s educational expenses, and still retain control of the funds. In addition, if you hold onto your account for at least five years and you’re older than 59 1/2, no taxes would apply on earnings. In fact, contributions can be used at any time, free of taxes and penalties.
** Encourage your youngsters to save. If you have children who have part-time jobs, they too can open a Roth IRA.
** Shopping for your first home? If you’ve had your Roth IRA for at least five years, you can withdraw up to $10,000 ($20,000 for couples) in earnings “tax-free and penalty-free” if you use the money for a “first time home mortgage purchase.”
** Passing on your investments to heirs couldn’t be easier. You can bequeath the funds in Roth IRAs to your beneficiaries, who can withdraw money from the account tax-free over a number of years.
** Roths offer great estate planning advantages. Beneficiaries can withdraw money from a Roth account tax-free. And, unlike regular IRAs, there is no minimum distribution starting at age 70 ½, so seniors with earned income can keep investing in the Roth account at any age.
** If you’re a retiree, you don’t have to worry about being pushed into a higher tax bracket with your Roth distributions, since Roth IRA distributions are tax-free.
Keep in mind that a Roth IRA may not be appropriate for everyone. For example, the IRS requires the owner to hold his/her Roth for 5 years or until age 59 ½ (whichever is later) in order to avoid penalties and taxes on the earnings upon withdrawal. To determine whether a traditional IRA, Roth IRA or other retirement investment program is right for your specific financial goals, contact Mike Pozzi, our Hawthorne Credit Union Investment Adviser at (630) 983-2310.
Securities are offered through Financial Network Investment Corporation, a registered broker/dealer and member of the SIPC. Financial Network Investment Corporation is not an affiliate of Hawthorne Credit Union. Mutual funds, annuities and other investments available through Financial Network Investment Corporation are not insured by the FDIC, NCUSIF or any federal government agency, are not deposits, or obligations of nor guaranteed by Hawthorne Credit Union, or any other affiliated entity. Investments are subject to investment risks including loss of principal invested.
Thursday, June 21, 2007
Staying Organized, the Job is Endless
I don’t know about you, but I am constantly working to keep myself organized. Whether it means making lists or folders to file things in, the management of “stuff” never seems to end. Between work, finances, household chores, Zach's toys and school projects, it is like a bottomless pit that I can’t get out of. The only solution to avoid complete chaos that I have been able to come up with, is to never fall too far behind on anything. That can be easier said than done.
My neighbors always ask how I do it. Anytime they stop by, the house is never messy and nothing seems unorganized. This of course is not true. There are always things that are just waiting for me to get them done or in a pile, hiding in a closest.
My daycare lady, who is also a neighbor, always says that my worst day is a lot better than her best. But, she runs a daycare and has four kids of her own, so I am always in amazement at how she can keep up with everything.
Now, I am going to share one of my quarky secrets with you. I have been doing this since I lived in my first apartment after college, and the highlight of my Wednesday was to catch the back to back episodes of 90210 & Melrose Place, (about 15 years). I would clean during advertisements. During the advertisements of those two shows I could get the apartment cleaned. It is amazing how much I can get done in such a short period of time, especially when I know that you can sit back down on my lazy butt, in just a few minutes.
Since then, the space has changed a few times and more advertisements are required to accomplish things, but it still for the most part works. It drives my husband crazy because I am constantly up and down, but the alternative of a messy house is not a good option for him, so he has gotten used to it, plus sometimes he helps.
I just never (make that almost never) sit and watch the advertisements or fast forward through them with our DVR. It may seem a little crazy, but it is a lot easier that doing continuous work. It is nice to be able to break the jobs into simple tasks that I can do while catching an episode of Desperate Housewives.
I am often amazed at how little time it takes to do some of things around the house that I hate doing. For example, I can usually come close to getting a load of laundry folded during this time, or empty the dishwasher, clean out a drawer, vacuum or, take out the garbage. The list seems to never end.
My least favorite thing to do, but the easiest to get done, is paying the bills. Thanks to the great Online Banking and BillPayer service that Hawthorne provides, I can easily have a stack of bills taken care of in less than 5 minutes. I just click on the QuickPay button and go down the list, pay all the necessary bills and click submit. It could not be easier.
Sometimes, I also read organizing books, or catch a good organizing show on TV. I don’t think I will ever have the concept mastered, but a least I try. I still have piles of pictures in a closest waiting to be added to yet another picture album, and as soon I get that done there will be more pictures. Or, as soon as I have sorted through one pile of mail, there is another. The mailman never stops coming. I guess that is just how life goes. We never run out of things to do.
My neighbors always ask how I do it. Anytime they stop by, the house is never messy and nothing seems unorganized. This of course is not true. There are always things that are just waiting for me to get them done or in a pile, hiding in a closest.
My daycare lady, who is also a neighbor, always says that my worst day is a lot better than her best. But, she runs a daycare and has four kids of her own, so I am always in amazement at how she can keep up with everything.
Now, I am going to share one of my quarky secrets with you. I have been doing this since I lived in my first apartment after college, and the highlight of my Wednesday was to catch the back to back episodes of 90210 & Melrose Place, (about 15 years). I would clean during advertisements. During the advertisements of those two shows I could get the apartment cleaned. It is amazing how much I can get done in such a short period of time, especially when I know that you can sit back down on my lazy butt, in just a few minutes.
Since then, the space has changed a few times and more advertisements are required to accomplish things, but it still for the most part works. It drives my husband crazy because I am constantly up and down, but the alternative of a messy house is not a good option for him, so he has gotten used to it, plus sometimes he helps.
I just never (make that almost never) sit and watch the advertisements or fast forward through them with our DVR. It may seem a little crazy, but it is a lot easier that doing continuous work. It is nice to be able to break the jobs into simple tasks that I can do while catching an episode of Desperate Housewives.
I am often amazed at how little time it takes to do some of things around the house that I hate doing. For example, I can usually come close to getting a load of laundry folded during this time, or empty the dishwasher, clean out a drawer, vacuum or, take out the garbage. The list seems to never end.
My least favorite thing to do, but the easiest to get done, is paying the bills. Thanks to the great Online Banking and BillPayer service that Hawthorne provides, I can easily have a stack of bills taken care of in less than 5 minutes. I just click on the QuickPay button and go down the list, pay all the necessary bills and click submit. It could not be easier.
Sometimes, I also read organizing books, or catch a good organizing show on TV. I don’t think I will ever have the concept mastered, but a least I try. I still have piles of pictures in a closest waiting to be added to yet another picture album, and as soon I get that done there will be more pictures. Or, as soon as I have sorted through one pile of mail, there is another. The mailman never stops coming. I guess that is just how life goes. We never run out of things to do.
Wednesday, June 20, 2007
Bolingbrook Teacher Wins Scholarship to Colonial Williamsburg
Hawthorne congratulates Susan Bahl, a second grade teacher at Jonas E Salk Elementary School in Bolingbrook, who was awarded a grant provided by Hawthorne to participate in a week-long Early American History workshop at the Colonial Williamsburg Teacher Institute in Williamsburg, Va. More than 600 teachers will attend the Institute in 2007. More than 4,500 teachers from 47 states have participated since the Institute’s inception in 1990. Bahl was one of 25 teachers selected among hundreds of applicants to attend the week-long Institute July 10-17.
The Colonial Williamsburg Teacher Institute was created by The Colonial Williamsburg Foundation to encourage history education and make it exciting and engaging for students. Now in its 17th year, the Teacher Institute helps teachers and students meet national and state history standards through on-site, hands-on immersion experiences in colonial history. Teachers will also prepare new classroom teaching materials as part of the workshop.
Bahl has taught for four years at Jonas Salk Elementary. She holds a business degree from DuPaul University where and a Masters Degree in Education also from DePaul University.
The Colonial Williamsburg Teacher Institute provides participants with interactive teaching techniques and with the skills to become mentor teachers, assisting their peers and other educators in developing new techniques for teaching American History to students.
The Teacher Institute offers participants an extensive background in colonial history from the first English settlement at Jamestown to the American Revolution. Teachers participate in re-enactments of 18th century events and meet historians and interpreters portraying historical figures. Participants share teaching strategies to improve instruction, raise literacy levels and enhance historical thinking skills. Teachers that attend the Institute agree to conduct in-service training sessions to share their knowledge with other teachers.
Hawthorne joined credit unions in other states to send local teachers to the Teacher Institute and to fund all expenses. In addition, dozens of credit unions have supported the award-winning American History education programs produced by The Colonial Williamsburg Foundation by funding electronic field trips for local schools. The electronic field trips are interactive television events that bring the 18th century to life for millions of students nationwide.
Educational outreach initiatives at Colonial Williamsburg embody the motto adopted at the dawn of the restoration of the city that gave birth to the nation’s principles and values: “That the future may learn from the past.”
The Colonial Williamsburg Teacher Institute was created by The Colonial Williamsburg Foundation to encourage history education and make it exciting and engaging for students. Now in its 17th year, the Teacher Institute helps teachers and students meet national and state history standards through on-site, hands-on immersion experiences in colonial history. Teachers will also prepare new classroom teaching materials as part of the workshop.
Bahl has taught for four years at Jonas Salk Elementary. She holds a business degree from DuPaul University where and a Masters Degree in Education also from DePaul University.
The Colonial Williamsburg Teacher Institute provides participants with interactive teaching techniques and with the skills to become mentor teachers, assisting their peers and other educators in developing new techniques for teaching American History to students.
The Teacher Institute offers participants an extensive background in colonial history from the first English settlement at Jamestown to the American Revolution. Teachers participate in re-enactments of 18th century events and meet historians and interpreters portraying historical figures. Participants share teaching strategies to improve instruction, raise literacy levels and enhance historical thinking skills. Teachers that attend the Institute agree to conduct in-service training sessions to share their knowledge with other teachers.
Hawthorne joined credit unions in other states to send local teachers to the Teacher Institute and to fund all expenses. In addition, dozens of credit unions have supported the award-winning American History education programs produced by The Colonial Williamsburg Foundation by funding electronic field trips for local schools. The electronic field trips are interactive television events that bring the 18th century to life for millions of students nationwide.
Educational outreach initiatives at Colonial Williamsburg embody the motto adopted at the dawn of the restoration of the city that gave birth to the nation’s principles and values: “That the future may learn from the past.”
Tuesday, June 12, 2007
A Relay For A World Without Cancer
As many of you are now familiar, it has become a yearly event for Hawthorne to participate in the American Cancer Society's signature event, Relay for Life. Relay for Life raises money to fight cancer and to raise awareness of cancer in the community. The relay for life honors cancer survivors, and remembers those who have lost their lives to cancer.
When the American Cancer Society Relay For Life started over 20 years ago, one of the reasons given to explain why it was an overnight event was that "cancer patients don't get the night off from cancer, so why should we?". How true.
The fight against cancer goes on. There is no one I know who can say they DO NOT have a friend or relative who has battled this terrible illness.
Join us in the Relay for Life, June 22-23 from 6:00 p.m. to 6:00 a.m. at Naperville North High School, as we help raise money and awareness for the American Cancer Society. If you’d like to make a donation, ask a representative or email us today.
The American Cancer Society Relay For Life raises hundreds of millions of dollars each year in the fight against cancer. Millions of people will walk or run through the night to raise money to fight cancer. Relay For Life builds awareness of this dreaded disease and makes a difference in the lives of those affected by cancer HERE AND NOW!
Below is a poem I found, that I thought you might like to read. This poem helps us increase our awareness of what the Relay for Life is all about.
"Relay For Life - Bring Hope"
1998 - Written at 3am at an Illinois Relay For Life Event. -j.smith
Is there someone that you know?
Whose life is on the line,
They've been going through
the fight of their lives..
Come Together, Come Together for them
For Relay for Life
There are people,
Too many people.. crying
For a loved one that they know..
Come Together, Come Together.. for them
For Relay For Life
Walk together,
and have faith together..
We can bring hope
into their lives
Please come together, for them
For Relay for life
We can bring hope, all around
we have faith in the people in your town
So Come Together
For Relay for life.
We can bring hope, all around
we have faith in the people in this town..
So Come Together, for them
For Relay for Life.
When the American Cancer Society Relay For Life started over 20 years ago, one of the reasons given to explain why it was an overnight event was that "cancer patients don't get the night off from cancer, so why should we?". How true.
The fight against cancer goes on. There is no one I know who can say they DO NOT have a friend or relative who has battled this terrible illness.
Join us in the Relay for Life, June 22-23 from 6:00 p.m. to 6:00 a.m. at Naperville North High School, as we help raise money and awareness for the American Cancer Society. If you’d like to make a donation, ask a representative or email us today.
The American Cancer Society Relay For Life raises hundreds of millions of dollars each year in the fight against cancer. Millions of people will walk or run through the night to raise money to fight cancer. Relay For Life builds awareness of this dreaded disease and makes a difference in the lives of those affected by cancer HERE AND NOW!
Below is a poem I found, that I thought you might like to read. This poem helps us increase our awareness of what the Relay for Life is all about.
"Relay For Life - Bring Hope"
1998 - Written at 3am at an Illinois Relay For Life Event. -j.smith
Is there someone that you know?
Whose life is on the line,
They've been going through
the fight of their lives..
Come Together, Come Together for them
For Relay for Life
There are people,
Too many people.. crying
For a loved one that they know..
Come Together, Come Together.. for them
For Relay For Life
Walk together,
and have faith together..
We can bring hope
into their lives
Please come together, for them
For Relay for life
We can bring hope, all around
we have faith in the people in your town
So Come Together
For Relay for life.
We can bring hope, all around
we have faith in the people in this town..
So Come Together, for them
For Relay for Life.
Monday, June 11, 2007
What is the difference between being Cheap and being Frugal?
Everybody knows a cheap person and probably hates them. But I think we often mislabel frugal people as being cheap. I started thinking about this the other night after listening to a “lecture” from my dad about how to manage our phone service.
The topic came up because periodically during our phone conversation he was not able to hear me. I explained that we have had this problem several times since switching our phone service to Comcast, several months ago.
He went on to explain that they only use basic phone service with no additional features. Yes, that means no call waiting and no caller ID! He then went on to tell me that during the week they only call me and my brother using their cell phone minutes, and calls everyone else that he needs to talk to either at night or on the weekend from his cell phone, since those minutes are free.
Now this is a man who had money saved for his kids to go to college, lives in a beautiful home and drives nice cars, has no credit card debt and never makes us pay for dinner when he is in town, but he is worried about minimal charges on his phone bill.
My father is not cheap, he just enjoys saving money, when he can. Saving money and being cheap are two totally different concepts. So different that, well, maybe another couple examples will help.
I like to buy decent clothing. It’s not always cheap, but I like to make sure I buy it on sale. The more on sale an item is, the better I like it. In fact, if two dresses are on sale, I can buy two good dresses instead of one expensive one. Does that qualify as being cheap?
I just have a hard time buying things at regular price when in a few weeks it will be on sale (which is the price it should’ve been in the first place, in my opinion).
Here’s another example…
Let’s say you need to put gas in your car and on the way to going somewhere you were going anyway you pass two gas stations right next to one another. Gas is $3.45 a gallon at one and at least $3.55 a gallon at the other.
All other factors being equal, you’d have to be a total idiot not to buy the$3.45 a gallon gas…
That’s managing your money well.
On the other hand…
To kill a half an hour of your time driving clear across town, way out of your way, just to “save” a buck or two would be “being cheap”.
Yes, that would be me sometimes! I hate to admit this, but I have driven to Costco for gas, which is a good 20 minutes from our house.
Although there is sometimes a fine line between the two, there’s a distinct difference between “being cheap” and managing your money well and it is important for us to know and understand the difference between the two.
Knowing and understanding this difference and applying this principle to our lives can make the difference between us having money or being poor.
The topic came up because periodically during our phone conversation he was not able to hear me. I explained that we have had this problem several times since switching our phone service to Comcast, several months ago.
He went on to explain that they only use basic phone service with no additional features. Yes, that means no call waiting and no caller ID! He then went on to tell me that during the week they only call me and my brother using their cell phone minutes, and calls everyone else that he needs to talk to either at night or on the weekend from his cell phone, since those minutes are free.
Now this is a man who had money saved for his kids to go to college, lives in a beautiful home and drives nice cars, has no credit card debt and never makes us pay for dinner when he is in town, but he is worried about minimal charges on his phone bill.
My father is not cheap, he just enjoys saving money, when he can. Saving money and being cheap are two totally different concepts. So different that, well, maybe another couple examples will help.
I like to buy decent clothing. It’s not always cheap, but I like to make sure I buy it on sale. The more on sale an item is, the better I like it. In fact, if two dresses are on sale, I can buy two good dresses instead of one expensive one. Does that qualify as being cheap?
I just have a hard time buying things at regular price when in a few weeks it will be on sale (which is the price it should’ve been in the first place, in my opinion).
Here’s another example…
Let’s say you need to put gas in your car and on the way to going somewhere you were going anyway you pass two gas stations right next to one another. Gas is $3.45 a gallon at one and at least $3.55 a gallon at the other.
All other factors being equal, you’d have to be a total idiot not to buy the$3.45 a gallon gas…
That’s managing your money well.
On the other hand…
To kill a half an hour of your time driving clear across town, way out of your way, just to “save” a buck or two would be “being cheap”.
Yes, that would be me sometimes! I hate to admit this, but I have driven to Costco for gas, which is a good 20 minutes from our house.
Although there is sometimes a fine line between the two, there’s a distinct difference between “being cheap” and managing your money well and it is important for us to know and understand the difference between the two.
Knowing and understanding this difference and applying this principle to our lives can make the difference between us having money or being poor.
Friday, June 8, 2007
Substance vs Flash
The shop was small, crowded, spider-webby and downright scary. And loaded with charm and history. I spent a little extra money for my new bike – probably $50-60 more than I had to. But what I got in return was priceless.
My first stop was to a big box store, Dick’s Sporting Goods, because of a promotional ad I found in the newspaper. They had several bikes on sale; so it was a good place to start. My daughter was lured into the 2-story rock climbing apparatus and the trampolines and tents on display. It was practically a playground. I stood in Dick’s for about 30 minutes and not a soul came by to say hello or lend me any help at all. (Even if they had, I doubt they’d know any more about the bikes than I did. Still, a little help would’ve been nice.) I tried my best to decipher between the bikes in stock on my own and left without buying a bike that night. My experience at Dick’s was all flash and no substance.
From the beginning I was uncomfortable making a big purchase at a big box shop, but my experience at Dick’s confirmed it. I wanted to spend my money at a local shop and support a local small business. The big box stores, being run by big corporations far away from my home town, could really care less if I get the right bike. They only want one thing – my money - as much of it as they can possibly get.
The next night I dragged went to a little bike shop downtown in my home town. In the end I spent more than I might’ve at Dick’s. But I’m sure I bought the right bike for me because the shop owner clearly had a passion for bikes and 40 years of experience. You’d be hard pressed to find 40 years of experience at Dick’s!
The Geneva Cycle Shop has been in existence since the mid 1970s. The owner, Ellis G, first opened the shop selling motorcycles. His shop looks virtually unchanged since 1970. Before I entered the shop, Mr. G had already greeted me and asked how he could help. He quickly located two bikes that might meet my needs and told my why, all the while, serving two other customers. A few minutes later he had the tires pumped and ready for me to ride around the parking lot. (Where would I have tried out the bike at Dick’s?)
I selected a bike and promised to return a few hours later to give him time to prepare the bike (adjust the gears; tune up the brakes – would Dick’s have done this?) We returned later and while we waited, we chatted about service at big box shops, politics, the history of his shop. He told me about some great bike trails nearby. And when he was finished he promised to take care of any problems concerning the bike – just bring it back if I need help.
We also talked about technology – Mr G’s technology consists of a telephone and mailbox. That’s the way he likes it and that’s the way he plans to keep it. He takes cash and checks only. Simple. And fabulous.
In the end what I got was all substance and no flash. The extra money I spent bought me an interaction with a new character in my town; a bike that truly fits my needs; info about some great bike trails and a promise to fix minor repairs if I have any problems with it. Priceless.
My first stop was to a big box store, Dick’s Sporting Goods, because of a promotional ad I found in the newspaper. They had several bikes on sale; so it was a good place to start. My daughter was lured into the 2-story rock climbing apparatus and the trampolines and tents on display. It was practically a playground. I stood in Dick’s for about 30 minutes and not a soul came by to say hello or lend me any help at all. (Even if they had, I doubt they’d know any more about the bikes than I did. Still, a little help would’ve been nice.) I tried my best to decipher between the bikes in stock on my own and left without buying a bike that night. My experience at Dick’s was all flash and no substance.
From the beginning I was uncomfortable making a big purchase at a big box shop, but my experience at Dick’s confirmed it. I wanted to spend my money at a local shop and support a local small business. The big box stores, being run by big corporations far away from my home town, could really care less if I get the right bike. They only want one thing – my money - as much of it as they can possibly get.
The next night I dragged went to a little bike shop downtown in my home town. In the end I spent more than I might’ve at Dick’s. But I’m sure I bought the right bike for me because the shop owner clearly had a passion for bikes and 40 years of experience. You’d be hard pressed to find 40 years of experience at Dick’s!
The Geneva Cycle Shop has been in existence since the mid 1970s. The owner, Ellis G, first opened the shop selling motorcycles. His shop looks virtually unchanged since 1970. Before I entered the shop, Mr. G had already greeted me and asked how he could help. He quickly located two bikes that might meet my needs and told my why, all the while, serving two other customers. A few minutes later he had the tires pumped and ready for me to ride around the parking lot. (Where would I have tried out the bike at Dick’s?)
I selected a bike and promised to return a few hours later to give him time to prepare the bike (adjust the gears; tune up the brakes – would Dick’s have done this?) We returned later and while we waited, we chatted about service at big box shops, politics, the history of his shop. He told me about some great bike trails nearby. And when he was finished he promised to take care of any problems concerning the bike – just bring it back if I need help.
We also talked about technology – Mr G’s technology consists of a telephone and mailbox. That’s the way he likes it and that’s the way he plans to keep it. He takes cash and checks only. Simple. And fabulous.
In the end what I got was all substance and no flash. The extra money I spent bought me an interaction with a new character in my town; a bike that truly fits my needs; info about some great bike trails and a promise to fix minor repairs if I have any problems with it. Priceless.
Friday, May 25, 2007
Get Rich... Slowly
Who wouldn't like to have that one silver bullet to get rich quick. But the fact is, most of us will never find it. Still, we can accumulate wealth slowly over time. One way is to earn more. But another way is to spend less - think smaller, be satisfied with what we have instead of wanting something else.
I recently saw an ad for a credit card that was targeted toward people who have poor credit, over their heads in debt. It showed images of people that looked like clips from "Lifestyles of the Rich and Famous". I thought it must be so appealing to folks who've found themselves in difficult situations that resulted in high debt.
Getting over your head in debt is easy to do - an illness, a job loss, or a divorce and before you know it creditors are calling every day. It's an overwhelming, stifling and oppressive place to be because it's so hard to resolve. Ads like that credit card ad I saw don't help.
Many years ago I had too much debt, and I didn't know how I'd ever get out from under it. It really took years of living simply that made the difference: cutting back, living with less and thinking smaller. And paying off the bills slowly but surely. That's a difficult task in our culture because our society encourages spending more than saving or not spending. I'm grateful to say that my finances are significantly more healthy today.
Even if you're not in debt over your head, I hope you're not, living simply can help you accumulate wealth, too. There are two books that changed the way I think about money and helped me get out of debt:
Voluntary Simplicity, by Duane Elgin (Quill/William Morrow Publishers NY ISBN 0688-12119-5)- This book taught me about living "toward a way of life that is outwardly simple but inwardly rich." It's about learning to appreciate what you have instead of looking outside yourself for happiness. The tenets of Elgin's voluntary simplicity are frugal consumption, ecological awareness and personal growth.
Your Money or Your Life, by Joe Dominguez and Vicki Robin (Penguin Books NY ISBN 014-016715-3) - I learned how to determine what to spend money on by looking at my values and my goals and putting more money into things that propel me toward my goals. The subtitle is called "Transforming Your Relationship With Money and Achieving Financial Independence".
These books are great reads, regardless of your financial health. But if you are over your head in debt, we have a program that can help relieve some of the stress of living with debt every day. Check out Balance Pro on our website or contact Member Services for more information.
I recently saw an ad for a credit card that was targeted toward people who have poor credit, over their heads in debt. It showed images of people that looked like clips from "Lifestyles of the Rich and Famous". I thought it must be so appealing to folks who've found themselves in difficult situations that resulted in high debt.
Getting over your head in debt is easy to do - an illness, a job loss, or a divorce and before you know it creditors are calling every day. It's an overwhelming, stifling and oppressive place to be because it's so hard to resolve. Ads like that credit card ad I saw don't help.
Many years ago I had too much debt, and I didn't know how I'd ever get out from under it. It really took years of living simply that made the difference: cutting back, living with less and thinking smaller. And paying off the bills slowly but surely. That's a difficult task in our culture because our society encourages spending more than saving or not spending. I'm grateful to say that my finances are significantly more healthy today.
Even if you're not in debt over your head, I hope you're not, living simply can help you accumulate wealth, too. There are two books that changed the way I think about money and helped me get out of debt:
Voluntary Simplicity, by Duane Elgin (Quill/William Morrow Publishers NY ISBN 0688-12119-5)- This book taught me about living "toward a way of life that is outwardly simple but inwardly rich." It's about learning to appreciate what you have instead of looking outside yourself for happiness. The tenets of Elgin's voluntary simplicity are frugal consumption, ecological awareness and personal growth.
Your Money or Your Life, by Joe Dominguez and Vicki Robin (Penguin Books NY ISBN 014-016715-3) - I learned how to determine what to spend money on by looking at my values and my goals and putting more money into things that propel me toward my goals. The subtitle is called "Transforming Your Relationship With Money and Achieving Financial Independence".
These books are great reads, regardless of your financial health. But if you are over your head in debt, we have a program that can help relieve some of the stress of living with debt every day. Check out Balance Pro on our website or contact Member Services for more information.
Sunday, May 20, 2007
To Shred or Not to Shred - That is the Question!
Shred It or Regret It
It’s rampant. It's evil. It's coming to a town near you. It's IDENTITY THEFT.
Identity thieves may not exactly steal your life, or your home, but they can steal your money and make life a nightmare for you for a long time. According to the Identity Theft Resource Center, identity theft is American's fastest growing crime and over 7 million people per year are victims of this crime.
I found getting ready for Shred-It Day this weekend to be particularly draining. It probably had to do with the arduous task of sifting through mounds of paper in our file cabinets. Cleaning out our files was our Friday night project (are we exciting, or what)! While my husband complained about having to go through all the files, I asked him to keep in mind the amount of time I had spent over the years, doing all of the filing.
It was hard to figure out what to keep and what to purge. Just as we cleaned out one file cabinet, I tackled another only to be met with another pile of papers to sort through.
We had to weigh out what to should keep for tax purposes, what I want to keep for sentimental reasons and what we simply don’t need. After a couple of hours be were done, and were getting rid of at least 75% of what was in our filing cabinets. I felt like a weight had been had been lifted off my shoulders.
Let The Shredding Begin
On Saturday morning it was so simple. I gave the shredding company my boxes of papers and all of those personal records were gone, saving me hours of time standing in front of our home shredder to avoid the risk of becoming a victim of identity theft.
Not shredding all of our personal documents is not a risk I am willing to take. The average victim of identity theft will spend over 600 hours and $1,400 dollars of their money clearing their name after an identity thief strikes.
Below are a few easy things that you can do to help reduce the risk of having your identity stolen.
It’s rampant. It's evil. It's coming to a town near you. It's IDENTITY THEFT.
Identity thieves may not exactly steal your life, or your home, but they can steal your money and make life a nightmare for you for a long time. According to the Identity Theft Resource Center, identity theft is American's fastest growing crime and over 7 million people per year are victims of this crime.
I found getting ready for Shred-It Day this weekend to be particularly draining. It probably had to do with the arduous task of sifting through mounds of paper in our file cabinets. Cleaning out our files was our Friday night project (are we exciting, or what)! While my husband complained about having to go through all the files, I asked him to keep in mind the amount of time I had spent over the years, doing all of the filing.
It was hard to figure out what to keep and what to purge. Just as we cleaned out one file cabinet, I tackled another only to be met with another pile of papers to sort through.
We had to weigh out what to should keep for tax purposes, what I want to keep for sentimental reasons and what we simply don’t need. After a couple of hours be were done, and were getting rid of at least 75% of what was in our filing cabinets. I felt like a weight had been had been lifted off my shoulders.
Let The Shredding Begin
On Saturday morning it was so simple. I gave the shredding company my boxes of papers and all of those personal records were gone, saving me hours of time standing in front of our home shredder to avoid the risk of becoming a victim of identity theft.
Not shredding all of our personal documents is not a risk I am willing to take. The average victim of identity theft will spend over 600 hours and $1,400 dollars of their money clearing their name after an identity thief strikes.
Below are a few easy things that you can do to help reduce the risk of having your identity stolen.
- Shred shred shred. Buy a good cross-cut shredder, and get the most heavy duty one you can afford. Be sure it will take staples and credit cards, as well as several sheets of paper at once. Shred anything with your name, address, and of course, any account numbers on it. It only takes a minute and it's worth it.
- Mail your outgoing letters and bills from the Post Office rather than your home. I know it sounds annoying, but when that little red flag is up indicating that you have outgoing mail for the postman to collect, it's also a sign for thieves to nab your mail, which often contains checks. The thieves "wash" the checks of all ink except for your signature, then poof they have a blank check, signed by you to write to whomever they want.
- Protect your Social Security Number and credit card information. There are only about a ton of email and phone scams out there these days, so don't be fooled. NEVER give personal information over the phone or in an email and, don't click through on any emails asking you to "verify your account information" or warning you that your Ebay or PayPal account has been compromised! It's just a scam to get you to input your personal information to a bogus site that will collect it and use it for fraudulent purposes.
Taking these simple steps will help reduce your risk, limit your exposure and avoid the nightmare of identity theft.
Tuesday, May 15, 2007
Boycotting Gas Won't Make A Difference
In fact, I swear this boycott suggestion has actually raised gas prices today. It's up to $3.50 (I heard it's over $4 in Chicago.) On one talk radio show this morning a limo driver said he watched the prices go up 35 cents in a 3 hour period yesterday. What we don't purchase today we'll purchase tomorrow or Thursday, and the gas companies know this. Remember, we've been spoiled up until now...Europeans have been paying these kind of prices (and higher) for a very long time.
There is only one way to show big oil companies that we're tired of getting the shaft - that is we have to reduce our consumption of gasoline. And that, my friends, won't happen in a day.
Here are some ways to reduce your use of gasoline:
1) Trade in for a smaller vehicle that is more energy efficient.
2) Trade in for a vehicle that uses alternative fuel. (I know where you can get a great rate on an auto loan, too....)
3) Drive less! Stay home and play outside or read a book instead of going out now and then. (Remember, everything you buy had to be shipped to the store in a gas-powered truck!)
4) Walk! It's summer - how about doing some of your errands on foot. Can you walk to the grocery store for milk? Think of all the impulse purchases you won't make if you have to carry stuff home. You'll save money and gas.
5) Ride your bike! Do some of your farther errands on bike - use a backpack or a basket if you have stuff to carry. You'll get some exercise and save gas too.
6) Use public transportation. Believe it or not, we actually do have a public bus in the suburbs. And the train is so much fun to take into the city. I always feel like I have much more freedom being in the city without a car. It's much easier to get around.
7) Carpool. Drive with a friend and have a nice conversation while you're out.
Then there are real, long term strategies that will really burn the oil companies if we all do these things:
1) Move closer to work. What if you could walk or bike there?
2) Work from home...there's nothing better than working at home, if you can.
3) Live where you shop. I love my house because it's located within walking distance to just about everything I need.
What if we all could reduce from the two-car household to a one-car household? What would you do with that car payment? The insurance? The gas money? The repair money?
I must say that this boycott that has circulated the web has really inspired some hope, though. I'd like to thank the person or group who made the suggestion about the boycott, they at least started a conversation about this topic, which needs to be discussed. There's really nothing we can't do in our country...maybe we really could become less dependent on oil. It won't happen in a day, but it could happen.
There is only one way to show big oil companies that we're tired of getting the shaft - that is we have to reduce our consumption of gasoline. And that, my friends, won't happen in a day.
Here are some ways to reduce your use of gasoline:
1) Trade in for a smaller vehicle that is more energy efficient.
2) Trade in for a vehicle that uses alternative fuel. (I know where you can get a great rate on an auto loan, too....)
3) Drive less! Stay home and play outside or read a book instead of going out now and then. (Remember, everything you buy had to be shipped to the store in a gas-powered truck!)
4) Walk! It's summer - how about doing some of your errands on foot. Can you walk to the grocery store for milk? Think of all the impulse purchases you won't make if you have to carry stuff home. You'll save money and gas.
5) Ride your bike! Do some of your farther errands on bike - use a backpack or a basket if you have stuff to carry. You'll get some exercise and save gas too.
6) Use public transportation. Believe it or not, we actually do have a public bus in the suburbs. And the train is so much fun to take into the city. I always feel like I have much more freedom being in the city without a car. It's much easier to get around.
7) Carpool. Drive with a friend and have a nice conversation while you're out.
Then there are real, long term strategies that will really burn the oil companies if we all do these things:
1) Move closer to work. What if you could walk or bike there?
2) Work from home...there's nothing better than working at home, if you can.
3) Live where you shop. I love my house because it's located within walking distance to just about everything I need.
What if we all could reduce from the two-car household to a one-car household? What would you do with that car payment? The insurance? The gas money? The repair money?
I must say that this boycott that has circulated the web has really inspired some hope, though. I'd like to thank the person or group who made the suggestion about the boycott, they at least started a conversation about this topic, which needs to be discussed. There's really nothing we can't do in our country...maybe we really could become less dependent on oil. It won't happen in a day, but it could happen.
Thursday, May 10, 2007
Are You Prepared?
After hearing about the devastating tornados in Kansas last week, looking at the horrifying pictures, and listening to the sad stories on the news, I wondered what all of those people were going to do now. How would I feel and what would I do if I found myself in a similar situation? With my house flattened and all of my personal belongings destroyed, how would I start to rebuild?
If you were to sustain a catastrophic loss like that, would you be prepared? Could you remember the details of all of your possessions? I know that I could not.
Even with home owners insurance, I would not be in a position to be able to recoup all of my possessions. Insurance companies require that you provide overwhelming and undeniable proof of what you own. When a disaster such as a tornado throws your life into utter chaos, insurance companies want details of all your tangible personal property and what it is worth, based on insurance stipulations and requirements. Not having this information available during a disaster, puts you at the risk of losing 20% or more of a casualty loss insurance claim, after faithfully paying all of the premiums.
By preparing yourself for the unexpected you can maximize the return on your insurance claim, and reduce the entire claims process by weeks or even months.
If you're like most of us, you buy things and put the receipt in a folder in case you need it for warranty purposes. But in case of a fire or a tornado. . . well, you know what can happen.
It is essential to keep a documented inventory of your personal property. Insurance policy interpretation is where the problems usually arise. It is assumed that families have color TV's, maybe even two or three. But what is not assumed is that you may have a big screen TV, a custom made dining room or bedroom set, or made to order drapery, etc. Property that falls into this category is not assumed by any insurance company. You will have to prove you had it in order to financially recover in case of a claim. Insurance companies will ask for an inventory, including description and value of damaged property. And, most important, they'll ask you to attach bills, receipts that justify the loss. Photos and written records kept in a safe deposit box would be very beneficial during a time like this.
My plan now is to start working on creating a digital inventory of my home using my digital camera, (how hard can that be). Record it now! Don’t regret it later! That is what I keep telling myself. I am planning to make a complete written inventory of our home, and take videos and photographs of our home and contents.
This process will help to ensure that if my family is faced with the same kind of disaster that many families in a small town in Kansas experienced last week, we will receive the proper settlement from our insurance company to help rebuild our lives.
If you were to sustain a catastrophic loss like that, would you be prepared? Could you remember the details of all of your possessions? I know that I could not.
Even with home owners insurance, I would not be in a position to be able to recoup all of my possessions. Insurance companies require that you provide overwhelming and undeniable proof of what you own. When a disaster such as a tornado throws your life into utter chaos, insurance companies want details of all your tangible personal property and what it is worth, based on insurance stipulations and requirements. Not having this information available during a disaster, puts you at the risk of losing 20% or more of a casualty loss insurance claim, after faithfully paying all of the premiums.
By preparing yourself for the unexpected you can maximize the return on your insurance claim, and reduce the entire claims process by weeks or even months.
If you're like most of us, you buy things and put the receipt in a folder in case you need it for warranty purposes. But in case of a fire or a tornado. . . well, you know what can happen.
It is essential to keep a documented inventory of your personal property. Insurance policy interpretation is where the problems usually arise. It is assumed that families have color TV's, maybe even two or three. But what is not assumed is that you may have a big screen TV, a custom made dining room or bedroom set, or made to order drapery, etc. Property that falls into this category is not assumed by any insurance company. You will have to prove you had it in order to financially recover in case of a claim. Insurance companies will ask for an inventory, including description and value of damaged property. And, most important, they'll ask you to attach bills, receipts that justify the loss. Photos and written records kept in a safe deposit box would be very beneficial during a time like this.
My plan now is to start working on creating a digital inventory of my home using my digital camera, (how hard can that be). Record it now! Don’t regret it later! That is what I keep telling myself. I am planning to make a complete written inventory of our home, and take videos and photographs of our home and contents.
This process will help to ensure that if my family is faced with the same kind of disaster that many families in a small town in Kansas experienced last week, we will receive the proper settlement from our insurance company to help rebuild our lives.
Sunday, May 6, 2007
Where does all of our money go?
This weekend, I did it again. I went shopping and spent too much money. I did not buy anything big, just all of the things that my family and I need.
Looking at the total on the bottom of my receipt, made me stop and think. What is really necessary? We slowly get used to more & more stuff, and before we know it, it is hard to tell the difference between our needs and our wants.
Instead of buying Suave shampoo (on sale for .99) like I used to, I now buy a more expensive shampoo that cost about $3.50. Is that cost increase really necessary? All of my little cost increases can really add up, and my hair does not even look or feel any better than it did before. Although this represents a very small piece of my financial puzzle, I wonder why many of us spend extra money, when we don’t really need to.
Money is a powerful resource. We strive to acquire it and we are told we cannot survive without it. It represents glamour, prestige, power, security and happiness and no matter how non-materialistic we may strive (or claim) to be, in the end, much of our life revolves around making money and spending it. And, we certainly spend tremendous mental and emotional energy thinking about it.
What is the difference between or needs and wants?
Our actual needs are pretty limited: food, shelter and clothing. Just about everything else is a "want," and our wants are essentially endless. Almost all of us have limited resources, so we have to make choices about which wants to fulfill.
The way we fulfill our needs also involves a lot of choice. Shelter, for example, can be a bed at a homeless shelter, an apartment, or a $1 million home. Our food choices offer similar extremes, from beans and tap water eaten at home to steak and Dom Perignon at an exclusive restaurant.
I think that many people believe they have to spend money in certain ways or in certain amounts, when in reality their spending is a choice -- or is at least based on choices that have been made in the past. For example, if you have a huge mortgage payment, it's because you chose to buy a big home and select a particular mortgage.
A hard, cold look at how and where we spend our money can show us – often in a painfully clear light – why we may experience financial difficulties from time to time. This, of course, is one of the main reasons that so many people resist examining their monetary habits and belief systems in the first place.
For more information on learning how to properly budget your money, take a look at our free Balance Fitness Program.
Balance will help you develop a workable spending and savings plan, we want to help. That's why we've provided access to free and confidential financial counseling and education through BALANCE.
Looking at the total on the bottom of my receipt, made me stop and think. What is really necessary? We slowly get used to more & more stuff, and before we know it, it is hard to tell the difference between our needs and our wants.
Instead of buying Suave shampoo (on sale for .99) like I used to, I now buy a more expensive shampoo that cost about $3.50. Is that cost increase really necessary? All of my little cost increases can really add up, and my hair does not even look or feel any better than it did before. Although this represents a very small piece of my financial puzzle, I wonder why many of us spend extra money, when we don’t really need to.
Money is a powerful resource. We strive to acquire it and we are told we cannot survive without it. It represents glamour, prestige, power, security and happiness and no matter how non-materialistic we may strive (or claim) to be, in the end, much of our life revolves around making money and spending it. And, we certainly spend tremendous mental and emotional energy thinking about it.
What is the difference between or needs and wants?
Our actual needs are pretty limited: food, shelter and clothing. Just about everything else is a "want," and our wants are essentially endless. Almost all of us have limited resources, so we have to make choices about which wants to fulfill.
The way we fulfill our needs also involves a lot of choice. Shelter, for example, can be a bed at a homeless shelter, an apartment, or a $1 million home. Our food choices offer similar extremes, from beans and tap water eaten at home to steak and Dom Perignon at an exclusive restaurant.
I think that many people believe they have to spend money in certain ways or in certain amounts, when in reality their spending is a choice -- or is at least based on choices that have been made in the past. For example, if you have a huge mortgage payment, it's because you chose to buy a big home and select a particular mortgage.
A hard, cold look at how and where we spend our money can show us – often in a painfully clear light – why we may experience financial difficulties from time to time. This, of course, is one of the main reasons that so many people resist examining their monetary habits and belief systems in the first place.
For more information on learning how to properly budget your money, take a look at our free Balance Fitness Program.
Balance will help you develop a workable spending and savings plan, we want to help. That's why we've provided access to free and confidential financial counseling and education through BALANCE.
Thursday, May 3, 2007
Got too much stuff?
Are you a pack rat? Seems a lot of us are. In fact, so many are that these self-storage facilities have become quite an industry. I thought those storage places were for people who were in transition - you know, moving to a new house but living with the in-laws for a couple months between closings. We've all done it.
Turns out, as an article I read recently explains, people just have too much stuff. Temporary storage is the second top reason for using self-storage. The first is "no room for items at residence". Wow. The article even has a list of what's in this guy's storage unit. He has 8 extension ladders. 8?? Okay, this guy is a retired roofer so that's why he needed 8. But now he's retired, why is he keeping them all? Besides, he's probably forgotten most of the stuff he has in there, anyway, so why keep it?
This self storage phenomenon is amazing considering we're living in the days of McMansions. We still don't have enough room for all our stuff, even with houses that are bigger than ever and getting bigger every year.
That's why I love my little house. It's about the size of the house I grew up in. Built in 1969, the closets are SMALL. But that's good because it forces me to think long and hard about each thing I buy. Is it closet-worthy? And, it also forces me to clean out every so often. The lack of clutter and the purging of stuff is quite therapeutic. My soul needs it now and then!
I save money because there's less space to air condition and heat. Less electricity to power and fewer rooms to fill with furniture. It's easier to clean and takes less time to clean, too. I can even clean it myself (although I hate to clean).
Sure, when I see those beautiful McMansions, sometimes I get a little green with envy. But it only lasts until I get back to my little house. It's just the right size for my family of 3. It makes us closer. Yes, I mean that physically and emotionally closer too. We can't run away from each other. We have to learn to co-exist together.
In fact, there are builders now who create tiny houses. Check out Tumbleweed Tiny House Company. Jay Shafer, the builder, lives in a house of 100 square feet. I love this guy! Here's what he says:
"My name is Jay Shafer and since 1997 I have been living in a house smaller than some people's bathrooms. I call the first of my little hand built houses Tumbleweed. My decision to inhabit just 100 square feet arose from some concerns I had about the impact a larger house would have on the environment, and because I do not want to maintain a lot of unused or unusable space. My houses have met all of my domestic needs without demanding much in return. The simple, slower lifestyle my homes have afforded is a luxury for which I am continually grateful."
I love that his concerns were about the environment. And check it out - he says a smaller house provides a simpler, slower lifestyle. Who doesn't want that? Yippee! Thank you, Jay Shafer.
Check out the inside of one of his houses:
Hard to imagine, but it sure is food for thought!
Turns out, as an article I read recently explains, people just have too much stuff. Temporary storage is the second top reason for using self-storage. The first is "no room for items at residence". Wow. The article even has a list of what's in this guy's storage unit. He has 8 extension ladders. 8?? Okay, this guy is a retired roofer so that's why he needed 8. But now he's retired, why is he keeping them all? Besides, he's probably forgotten most of the stuff he has in there, anyway, so why keep it?
This self storage phenomenon is amazing considering we're living in the days of McMansions. We still don't have enough room for all our stuff, even with houses that are bigger than ever and getting bigger every year.
That's why I love my little house. It's about the size of the house I grew up in. Built in 1969, the closets are SMALL. But that's good because it forces me to think long and hard about each thing I buy. Is it closet-worthy? And, it also forces me to clean out every so often. The lack of clutter and the purging of stuff is quite therapeutic. My soul needs it now and then!
I save money because there's less space to air condition and heat. Less electricity to power and fewer rooms to fill with furniture. It's easier to clean and takes less time to clean, too. I can even clean it myself (although I hate to clean).
Sure, when I see those beautiful McMansions, sometimes I get a little green with envy. But it only lasts until I get back to my little house. It's just the right size for my family of 3. It makes us closer. Yes, I mean that physically and emotionally closer too. We can't run away from each other. We have to learn to co-exist together.
In fact, there are builders now who create tiny houses. Check out Tumbleweed Tiny House Company. Jay Shafer, the builder, lives in a house of 100 square feet. I love this guy! Here's what he says:
"My name is Jay Shafer and since 1997 I have been living in a house smaller than some people's bathrooms. I call the first of my little hand built houses Tumbleweed. My decision to inhabit just 100 square feet arose from some concerns I had about the impact a larger house would have on the environment, and because I do not want to maintain a lot of unused or unusable space. My houses have met all of my domestic needs without demanding much in return. The simple, slower lifestyle my homes have afforded is a luxury for which I am continually grateful."
I love that his concerns were about the environment. And check it out - he says a smaller house provides a simpler, slower lifestyle. Who doesn't want that? Yippee! Thank you, Jay Shafer.
Check out the inside of one of his houses:
Hard to imagine, but it sure is food for thought!
Monday, April 30, 2007
Go paperless for safer banking
I did it. I finally went paperless. I’ve been using personal finance software for several years, and paying my bills online for just as long. But paper statements from my financial institutions and credit card companies were afterthoughts. In fact, I usually thought of them only when cursing the clutter they caused and the storage space they demanded. It was not convenience or the desire to simplify that finally led me to the switch. It was security.
You and your money are more at risk if you receive paper statements than if you go 100% electronic. Here's what you need to know to go paperless.
Identity theft experts have been telling us for years that sending sensitive financial documents through the mail is a bad idea. Paper account statements and credit card bills often give mail thieves all the information they need to take over your finances.
You could lessen the danger by buying a locking mailbox and depositing outgoing mail at the post office. But you can really limit the risk by going paperless.
People who bank entirely online, using Online Banking, BillPayer and paperless statements, more commonly referred to at Hawthorne, as eStatements, reduce their chances of becoming identity theft victims by about 20%, according to researcher James Van Dyke.
If you’re tempted to follow my lead - here’s what you need to do:
Increase security on your computer. Anyone cruising the Internet should have a good firewall and software to combat pop-ups, spyware and viruses. If your financial life is on your computer, then you need to be particularly diligent about making sure you have protections in place and update the security programs regularly.
Monitor your accounts. Most online security experts recommend checking your accounts at least weekly, and I monitor mine twice a week. One easy way to stay on top of your accounts is by downloading your transactions into a personal finance software like Quicken. This financial program makes the process painless and fast, allowing you to see exactly what’s going on in your accounts.
Don’t get hooked by phishing scams. The biggest risk to your financial records may be your own gullibility. Surveys by Gartner research found 5% of the adults they surveyed had revealed personal financial information, such as account numbers and passwords, in response to e-mails “alerting” them of a problem or an update to one of their financial accounts. To find out more about how to recognize and avoid these scams, click here.
At Hawthorne we always encourage our members to take the necessary security precautions by enrolling in eStatements. You can also save time and money by taking advantage of our other online banking products. At Hawthorne Credit Union you can view your accounts online with Online Banking and pay your bills online with BillPayer .
By offering these free services as part of our first-class Online Package, we allow you to quickly and easily pay all your bills and manage your finances online. No more stamps, envelopes, check writing, or lost mail!
Stop by our Naperville branch on Saturday, May 19 from 10 a.m. to noon and bring two bankers boxes full of old documents for free shredding (bring cancelled checks, old bank statements, credit card offers, old tax documents, etc.) and attend our Free Identity Theft seminar. We're also giving away a free document shredder, so stop in and enter.
You and your money are more at risk if you receive paper statements than if you go 100% electronic. Here's what you need to know to go paperless.
Identity theft experts have been telling us for years that sending sensitive financial documents through the mail is a bad idea. Paper account statements and credit card bills often give mail thieves all the information they need to take over your finances.
You could lessen the danger by buying a locking mailbox and depositing outgoing mail at the post office. But you can really limit the risk by going paperless.
People who bank entirely online, using Online Banking, BillPayer and paperless statements, more commonly referred to at Hawthorne, as eStatements, reduce their chances of becoming identity theft victims by about 20%, according to researcher James Van Dyke.
If you’re tempted to follow my lead - here’s what you need to do:
Increase security on your computer. Anyone cruising the Internet should have a good firewall and software to combat pop-ups, spyware and viruses. If your financial life is on your computer, then you need to be particularly diligent about making sure you have protections in place and update the security programs regularly.
Monitor your accounts. Most online security experts recommend checking your accounts at least weekly, and I monitor mine twice a week. One easy way to stay on top of your accounts is by downloading your transactions into a personal finance software like Quicken. This financial program makes the process painless and fast, allowing you to see exactly what’s going on in your accounts.
Don’t get hooked by phishing scams. The biggest risk to your financial records may be your own gullibility. Surveys by Gartner research found 5% of the adults they surveyed had revealed personal financial information, such as account numbers and passwords, in response to e-mails “alerting” them of a problem or an update to one of their financial accounts. To find out more about how to recognize and avoid these scams, click here.
At Hawthorne we always encourage our members to take the necessary security precautions by enrolling in eStatements. You can also save time and money by taking advantage of our other online banking products. At Hawthorne Credit Union you can view your accounts online with Online Banking and pay your bills online with BillPayer .
By offering these free services as part of our first-class Online Package, we allow you to quickly and easily pay all your bills and manage your finances online. No more stamps, envelopes, check writing, or lost mail!
Stop by our Naperville branch on Saturday, May 19 from 10 a.m. to noon and bring two bankers boxes full of old documents for free shredding (bring cancelled checks, old bank statements, credit card offers, old tax documents, etc.) and attend our Free Identity Theft seminar. We're also giving away a free document shredder, so stop in and enter.
Saturday, April 28, 2007
Nickle and Dimed
I was at the ticket counter at the train station. I asked for a round trip ticket to Chicago. She offered to sell me a weekend pass that would get me where I needed to go and home when I wanted to return.
"You'll save 15 cents," she said.
"Whatever," I said. "It doesn't make much difference."
"The difference is 15 cents," she said.
She's right. Fifteen cents - a nickle and a dime. It made me wonder how often I casually disregard a small sum of money. Seems like the more I have the greater the amount that I tend to disregard, and the more money I spend. Really, what does 15 cents get you nowadays anyway? (Now I sound like my Grandmother.)
But the point is, small amounts really do add up. I'm not going to sweat over 15 cents. But how many times have I spent $15 more than I should? The grocery store is the hardest time for me - I see a food item and I just buy it without checking the price. If it looks good and it's healthy (no chemicals, transfats or high fructose corn syrup) AND if it's low in calories, too, I buy it. Maybe I can justify the price because I'm a bit particular about food. But I am also a sucker for convenience foods. I could easily save $15 a week by cooking more at home.
If I saved $15 each week, I'd have $780 more in savings at the end of the year. At retirement, that $780 could grow to nearly $4,000 (that's in 25 years at an average rate of 6.50% without contributing any more money!) If I put away $15 every week for the next 25 years ($60 per month for 25 years at an average rate of 6.50) I'd have nearly $45,000.
Direct deposit or automatic transfer is the easiest way to do this - you don't even have to think about it then. We can arrange to automatically move whatever amount of money you want, into a separate savings account.
$45,000 - That's no small change!
"You'll save 15 cents," she said.
"Whatever," I said. "It doesn't make much difference."
"The difference is 15 cents," she said.
She's right. Fifteen cents - a nickle and a dime. It made me wonder how often I casually disregard a small sum of money. Seems like the more I have the greater the amount that I tend to disregard, and the more money I spend. Really, what does 15 cents get you nowadays anyway? (Now I sound like my Grandmother.)
But the point is, small amounts really do add up. I'm not going to sweat over 15 cents. But how many times have I spent $15 more than I should? The grocery store is the hardest time for me - I see a food item and I just buy it without checking the price. If it looks good and it's healthy (no chemicals, transfats or high fructose corn syrup) AND if it's low in calories, too, I buy it. Maybe I can justify the price because I'm a bit particular about food. But I am also a sucker for convenience foods. I could easily save $15 a week by cooking more at home.
If I saved $15 each week, I'd have $780 more in savings at the end of the year. At retirement, that $780 could grow to nearly $4,000 (that's in 25 years at an average rate of 6.50% without contributing any more money!) If I put away $15 every week for the next 25 years ($60 per month for 25 years at an average rate of 6.50) I'd have nearly $45,000.
Direct deposit or automatic transfer is the easiest way to do this - you don't even have to think about it then. We can arrange to automatically move whatever amount of money you want, into a separate savings account.
$45,000 - That's no small change!
Subscribe to:
Posts (Atom)
