Coffee heat rising

The Importance of Financial Planning Should Not Be Underestimated

It is not a matter of intelligence; financial management can often be a matter of temperament rather than training or education. If you cannot resist the temptation to buy, even if you cannot afford the purchase at present, your desire may still overcome your brain telling you that you should wait. Unfortunately, there are many people operating in the financial sector, often with fancy titles, “consultant,’’ “advisor’’ or ‘’wealth managers’’ who sound impressive but may not be able to provide you with the best advice for your circumstances. It is a concern, because those who accept their lack of expertise may not be getting the quality of advice that they are seeking.

What Is Financial Planning?

Well first of all, it is not a lesson in investment. It is more about making best use of your money and if you are in debt, that means reducing the money you are wasting; typically, that is paying high interest on a credit card by carrying forward a balance. It is far better to pay off such debt with a much cheaper personal loan while someone is unemployed and disciplining yourself to use your card properly. That means paying your full statement amount when it falls due.

Plans have a timescale; you should have a plan to get to a point in a year, five years or at retirement when you have reached a stage where you are progressing and at retirement where your assets can fund the later years of your life. You are the only person who can decide where you want to be, but there is certainly nothing wrong in getting some help with where you should be. That is especially the case with retirement where the earlier you start to save regularly, the better chance you have to use compound interest to help you grow your savings.

Start with thinking about what you want and where you want to be. You need to access the money to enable you to achieve your goals. It is not a one-off exercise just as a budget needs constant revision if circumstances change.

Elements of Financial Planning

  • Cash Flow. You need to grasp how much are spending, and what you are earning, by the month in both cases. If you don’t have an emergency fund, you are potentially vulnerable.
  • If you have monthly debt, you need to prioritize that; perhaps a cheaper source of money?
  • Real Estate. Do you own or rent and what are your future plans if you own? Cash your property in to fund retirement?
  • This is becoming increasingly expensive; are your children going to go to college?
  • Can you see a clear career path?
  • Have you a surplus you can invest and will you go for risky investments for higher growth?
  • Is your insurance cover adequate?
  • Have you started to save and do you appreciate how much you might need to funs a comfortable lifestyle?
  • Ensure you have completed all the necessary documents?

 The Importance

Make no mistake; planning is the only way for ordinary people to manage their finances. There are poor advisors and before you rely on someone to help you secure your financial future, make some checks on the person involved to ensure you are dealing with someone with real expertise.

You need to grasp every element of your financial circumstances so that when you are faced with a decision, you make that decision with all the accurate information available. You must know your cash flow, the dates when all your bills are due because there are implications to your credit score if you make late payments, particularly on a regular basis.

It is positive to be positive and self-disciplined. Debt is certainly stressful and the only way to reduce your stress levels is to get into a situation where you are in control and making good progress. A recent survey suggested that a majority of people who currently have a financial plan feel that it is certainly helping them towards the future. That contrasts with only around 30% of those without a plan feeling positive.

Clearly a good financial plan helps you achieve your goals.

Why You Need a Call Blocker

…and why telecoms should be required by law to provide the NoMoRobo call  blocker

Did you see this amazing story? Police in India busted a ring of 61 crooks who were in the business of calling Americans, impersonating IRS agents, and threatening the marks with arrest if they didn’t pony up “late” taxes. This scam has been around for awhile, and it’s had enough press that you’d think most people would be wise to it. But no: apparently it’s true that there’s one born every day. According to Homeland Security, this merry bunch collected $3 million from feckless phone customers.

In Mumbai, $3 million goes a mighty long way…

These crooks called me at least three times that I know of before I installed the CRP V5000 call blocker that I ordered up from Amazon. Since then, they haven’t been able to get through long enough to choke out even a few words of their pitch.

US telecoms refuse to install NoMoRobo

A powerful, effective system developed over the past couple of years is called NoMoRobo. This is the only call blocking program approved by the Federal Trade Commission, which awarded its makers a prize and urged all US phone companies to make it available to customers.

Telecoms responded by failing to do so. In my parts, Cox will make it available to business customers but refuses to extend the same courtesy to home customers. This, despite figures showing that in 2016 alone, American consumers were bombarded by 2.4 billion robocalls per month! Obviously, they wish not to cut off a flow of cash from these scammers — there really is no other rational explanation.

NoMoRobo is now available for cell phones, including the iPhone, at a nominal monthly cost. To get it on a land line, you’ll need to switch to VoIP, dropping your regular telecom provider. Ooma is one service that offers NoMoRobo. To do this, you’ll need some tech proficiency — not a lot, apparently, but still, some degree of DIY is involved. Most people are pleased with NoMoRobo, which blocks nuisance calls effectively enough to make any extra cost or hassle worthwhile.

So how else can you defend yourself against robocall scammers?

There are other options. For your landline, the CRP V5000 (which comes with 5,000 pre-programmed blocked numbers) is only one of nine highly rated in-line call blockers available on Amazon.

I remain very pleased with the device, BTW. The company’s customer service can’t be beat. And though it’s a little inconvenient to ride herd on the spoofed calls and the out-of-area calls to be sure you don’t accidentally block a legitimate call, it sure as hell improves on upwards of a half-dozen nuisance calls a day.

For your smartphone, here are ten recommended call blockers that run on Android. As of late 2016, we were told a number of new apps for the iPhone were forthcoming; more recently, the Mr. Number call blocker & reverse lookup has racked up 4½ stars at the Apple store.

The only way to defeat these crooks and pests is to take their market away from them. The most effective way to do that, of course, is to force telecom companies to provide a proven technology, NoMoRobo. In the absence of government rules to enforce that, though, about the best you can do is install your own call blocker. Given the risk of fraud, to say nothing of the constant invasion of privacy and interruption of your daily life, you should get one of these systems now. Not later.

Frugality’s Unwritten Rules

Yesterday I finished cleaning out the bedroom closet. Donated a pile of old clothes, so as to make room for the new shirts I bought and ended up feeling about 10 pounds lighter. Something there is about divesting oneself of junk that improves your mood.

This task led to some reflections on frugality, as I suppose it must for all of us. Whenever you get into a closet or storage shelves, you think about the stuff you bought, how you used it, and how you didn’t use it. And over time, you develop a set of unconscious rules governing what you buy and what you do with it. Hence…

Funny’s Seven Unwritten Rules of Frugality

Don’t buy it if you’re not gonna use it.

This is no doubt the most challenging of the Frugal Rules. The whole (profitable) principle of the impulse buy is predicated on the fact that if you look at something and think “Oh! That’s neat,” you’ll buy it whether you need it or not. To combat this lure, slow down.

SDXB, the all-time Master of Frugality, had a shopping technique that worked to address the “what do you need this thing for” issue. As we perambulated through a store, something would catch his eye. Sometimes this was just an interesting item; sometimes it was something he was shopping for. But rather than grabbing it off the shelf and tossing it into the shopping cart, he would stop and pick the thing up. He would turn it over in his hands. He would assume a contemplative air. He would study the item. Then he would set it back on the shelf and go on about the rest of his shopping.

After he’d loaded up the cart with stuff he knew he wanted, he would return to the object in question. He would pick it up again. He would turn it over in his hands again, inspecting every aspect of the thing. He would stand there (interminably!) and think on it. About half the time, he would buy it. The other half of the time, he would put it down and walk away.

Think of that: he saved about half the money he otherwise would have diddled away on impulse buys. Putting the thing down and going on about your business, then coming back to it gives you time. It gives you time to cool off a bit, so the object doesn’t look so burningly fascinating when you return to it. And it gives you time to consider whether you really want this doodad, whether this is the particular specimen of the desired doodad you want, whether the price is right, whether you might do better somewhere else, whether you can live without it.

So, the corollary of Rule 1 (Don’t buy it if you’re not gonna use it) is take your time.

If  you do buy it and you don’t like it, use it anyway.

Probably the second most difficult Frugal Rule. Sometimes we buy things and realize we made a mistake. The reasonable thing to do in that case is to take it back — which you should, if you can. But some things can’t be returned.

Case in point: four fake-feather pillows I purchased awhile back at First Tuesday.

My down pillows, which had resided on the bed for years, had gotten pretty beat up. I decided to buy some new ones and, against my better nature, decided to buy synthetic by way of beating back allergies. (Note that I did not evict the dogs from the bed, suggesting that I wasn’t very serious about this anti-allergy scheme.) I bring them home, stuff them into the pillowcases, and toss them on the bed.

Come bed-time, I try to sleep on these beanbags. Ugh! They were so uncomfortable that no amount of trying to get used to them — and I tried for a couple of weeks — made them tolerable.

Ultimately, I ended up traipsing to Costco and buying four down pillows, making this the most expensive purchase of cheap feather pillows in the history of personkind.

I didn’t throw away or donate the pillows, though. Instead, I’ve stashed them for the use of guests. If one day I get around to putting a twin bed in the spare room, I’ll buy or make some shams and use the beanbags as decorative pillows in there. For the nonce, they’re on the top shelf of the bedroom closet, wrapped in an old throw to protect them from dust.

Use it up, wear it out, make it do

When something starts to show signs of wear, don’t throw it out. Fix it.

Ruby the Corgi Puppy chewed the ends off one of my outdoor wicker rockers. Did I throw it out and buy a new one? Hell, no. I sanded the rockers down and spray-painted them. Again.

These rockers are about 20 years old. In fact, I doubt if you can even buy real wicker rockers anymore — they’re all that weather-proof plastic stuff. Practical, I suppose. Expensive, for sure. And uncomfortable. About every three years, I spray those now-antique rockers with another layer of white paint. In between times, I drag them indoors when it looks like rain.

Similarly, the accursed Samsung washer punched holes in my pillowcases (this was before it ripped two sheets lengthwise…). The cases came with a set, so I couldn’t easily run out and buy new ones. Nor could I afford to: pillowcases are darned expensive. So I embroidered a couple of primitive flowers over the holes.

One of the holes has managed to escape the stitching, so pretty soon I’ll have to buy a new set of Costco sheets. But in the meantime, the patching job extracted an extra year or two out of the damaged sheets.

Buy quality items that last longer

We visited this subject the other day, when I held forth about the pricey shirts I recently bought, which I expect will last several years. Among the pile of stuff I donated yesterday was an Eileen Fisher top that was still perfectly usable. I decided to get rid of it because it makes a Boobless Wonder look even more curiously flat than necessary, even though it still had a fair amount of wear left in it.

I bought that shirt while I was still teaching. Since I moved into administration in 2004, that means the shirt is thirteen years old, and still usable. Yes, I paid a lot for it — though I got it on sale. But it seems to have paid for itself by not wearing out.

Buy something, get rid of something else

If you don’t want to get rid of x, then don’t buy y.

This was the principle driving yesterday’s Great Closet Clean-Out. And as a matter of fact, I got rid of considerably more than the five new items I installed in the closet. About twice as many, come to think of it.

If you have nothing that you want to get rid of, then presumably you don’t need anything new. So…don’t go out and buy stuff you don’t need.

Repurpose stuff

The other day, reader LeShea reported a brilliant idea: using sprinkles jars to store single servings of salad dressing.

This reminded me that it’s been a long time since I’ve made real salad dressing — of late, I’ve fallen into the habit of dribbling on a little olive oil and squirting a quarter of a lemon over it.

I’d bought some heavy cream in a one-pint returnable glass jar. A rather handsome little glass jar, come to think of it. Just about the right size to hold a week or two’s worth of home-made salad dressing.

Not bad. I might not even be too embarrassed to haul that out in front of guests. 🙂

If you can make it cheaper or better than you can buy it, make it

Salad dressing is ridiculously easy to make, and home-made tastes so much better than the commercial stuff, there’s no comparison. The basic principle for vinaigrette: one part sour stuff (lemon juice, lime juice, vinegar) to three parts oil of your choice. Add flavorings of your choice. Or not. The above?

1/4 cup lemon juice
3/4 cup olive oil
1 clove garlic, chopped
about a tablespoon mixed dried herbs (I used fines herbes, but herbes de Provence or anything else to your taste will work just fine.

You can make your own window cleaner far more cheaply than Windex and its knock-offs cost, and it works as well or better. Take a squirt bottle; fill it about 1/3 to 1/2 full of rubbing alcohol. Add 1 tablespoon (or so) of ammonia. Fill the rest of the way with water.

IMHO the best of all money-saving habits is simply to cook your own dinner. Why go out to eat when you can fix far better food yourself for a fraction of the price?

Salmon poached in wine

Don’t know how to cook? Not an excuse: Buy my cookboook!

Kids in an Overheated Age

What ARE they up to?

The story of the 11-year-old boy who killed himself when his 13-year-old amour posted on Facebook that she was offing herself has been afloat in the news for the past several days. We’re told authorities are pressing charges against the girl, who somehow was supposed to have known that her childish joke would drive the kid to suicide.

Honest to God. They’re children, for cryin’ out loud. Where were their parents? And why were the kids on Facebook at all? More to the point, why were they pretending to be a romantic item?

Whoever’s at fault here, it’s not a barely adolescent girl.

Even though American children experience puberty at a much earlier age than used to be normal (one of my friends said her daughter got her first period at age nine!), they’re still children.

An 11-year-old is not psychologically prepared to deal with the ups and downs of romantic engagement. Neither, IMHO, is a 13-year-old. Yet these two kids were said to be “boyfriend” and “girlfriend.”

Really?

Where were their parents? What kind of adults let two young kids decide they’re in a romantic relationship? And for that matter, what kind of adults allow their children to surf Facebook (and presumably the rest of the Internet) unsupervised?

The business of letting little kids decide that they’re “boyfriend” and “girlfriend” — as opposed to playmates — is not new. When I was in the fifth and sixth grades, I had classmates who dubbed themselves “boyfriend and girlfriend.” Amazingly, their parents thought this was cute and actually encouraged it. The kids went on little dates and exchanged tokens of their undying love.

It was stupid then. And it’s probably even stupider today, with the superheated atmosphere stoked by social media and the accelerated physical maturation created by the hormone-like and pharmaceutical hormones that contaminate our food and water. The fact that a nine-year-old has her period or that a six-year-old can get it up does not mean either of them is capable of the complex grasp of human relationships demanded by romance.

The whole thing just makes me want to bite someone — especially the mother who’s trying to blame a 13-year-old child for her own irresponsibility and the small-town prosecutors who are charging the 13-year-old over a stupid but noncriminal act whose consequences she could not possibly have predicted.

Failing to keep tabs on what your kids are up to in the social media should be regarded as child neglect. Letting your 11-year-old “date” should be classed as a type of child abuse. The consequences, as we see, can be dire.

What say you? Am I crazy? Or are the adults involved in this sorrowful fiasco the real culprits?

Image: DepositPhotos, © vizualni

General Business Frustrations

So this was an aggravating day of general business frustration. (Notice how skillfully, not to say clunkily, I include the title’s main words — yea, verily: all the words — for the pointless benefit of Google’s search engines? Thank you, oh, thank you, dear Lord Google, for improving our writing style and making us all sound like talking bots.)

High on today’s list of tasks to accomplish was to post the writing tome’s body copy and cover copy to the printer’s website and order up a set of page proofs. This chore, I expected, would occupy an hour, maybe at the outside two hours.

No.

It consumed the entire frigging day! Started on that around 10 a.m., having returned from this morning’s bidness meeting (does Google’s search-bot perceive “bidness” as a synonym for “business”?) and having completed a few chores so small they don’t rank high enough to get on the Whiteboard List, I loaded up the PoD guy’s site and began the rather simple task of uploading content.

1. Convert the Wyrd file to PDF (already done) and upload the file to the order page.

2. Go through the file for one last proofread.

3. Fix the few remaining issues.

4. Convert the Wyrd file again to PDF and re-upload the PDF.

5. Go through the file for one last, last proofread.

6.Convert the Wyrd file again to PDF and re-upload the PDF. Shirk the duty of proofing it again.

7. Upload a PDF (or is it a JPEG??) of the wrap-around cover. Make minor adjustments in size and position.

8. Submit; pay money.

9. Order one (1) set of page proofs.

Does this look hard?

Well, no. It doesn’t LOOK hard. And I don’t suppose it would be hard, if things went according to plan.

1. Go through the file for one last proofread…

Discover that in a paragraph urging readers to be sure to hire a copyeditor before inflicting their golden words upon the world, the word “your” appears as “you r.”

Far more annoying, several diagrams that came across just fine from Wyrd into the PDFs have somehow corrupted. Three of the five graphics are fucking trashed.

Fix the typo and a couple of other small issues. Then try to figure out what’s wrong with the artwork. After several re-conversions to PDF and then several hours spent rebuilding the (damned complicated!) diagrams, there is no way on God’s green earth I can figure out why the images are corrupted and what I can do to fix them. The new, upgraded versions come across even MORE distorted than the originals.

2. Giving up on this effort, along about three in the afternoon I decide at least to upload the cover.

Can’t remember whether they require a PDF (think so) or a JPEG (which of course would make sense). Upload a PDF. Result: a wide white border all around the painfully, tediously constructed, elaborate wrap-around cover.

Try uploading a JPEG. Result: nothing.

Wrestle with the PDF. Can NOT get the uploaded image to quit appearing inside a wide white border.

Screw with this several times but have no luck.

Decide to try re-uploading the content PDF, in hopes that maybe refreshing that page will let it upload the rebuilt images.

No luck.

It was after 5:00 by the time I decided to give up wrangling this stuff. But along about then, as I was closing out of the PoD outfit’s page, I noticed the cover had mysteriously uploaded, as if on its own or by mental telepathy, in such a way as to look almost normal.

Must be Cox’s wondrously expensive new modem/router is SO DAMN SLOW that it takes not seconds, not minutes, but large fractions of an  hour to complete a transaction.

So that was a bit of a frustration.

This morning’s business breakfast in lovely mid-town Scottsdale was a bit of a frustration, too.

You know, I’ve never much cared for First Watch, not since the first bloom of the business faded. So it was not with much joy that I greeted news that our meetin’ place of lo! these many years, a dowdy Good Egg, was to be consumed by the not-much-less dowdy First Watch. Trepidation, indeed, you might say: not joy.

And those trepidations have proven prophetic. The new management has decided serving up a weekly breakfast to a group of 12 does not meet their definition of profitability. So they’ve been pressuring us to move on for quite some time. First thing they did was move our meeting table (which occupied a part of a semi-private back room) and stuff us into uncomfortable bench seating. Then they took our favorite waitress away and gave us airheads in her place. They changed the menu, but as one would expect, it’s no better than any other lovely American breakfast menu: oversalted, oversugared, and overgreased.

Yech.

While I was sick, the group tentatively tried out a Denny’s, a store whose location would add another two miles to my already annoying drive into the blinding early a.m. glare.

Really, I do not like Denny’s. I haven’t been back to Denny’s in years, not since the time that they served me a cup of coffee in a mug with some woman’s bright red lipstick print stuck to the rim. When I asked for a clean cup, they refused to give me one!!!!!

So I do not relish meeting at Denny’s.

But it probably doesn’t matter, because I rarely order anything at the Good Egg/First Watch. Eggs make me vomit instantly, and overall I don’t care for foods that are mushy and sweet or that are oversalted. That pretty much lets out…

• Bacon & eggs
• Ham and eggs
• Oatmeal as served in US restaurants
• Gooey sugary yogurt “parfaits”
• Pancakes made of undercooked commercial mix and topped with gooey sticky stuff
• Cottage fries drenched in salt
• And…you name it.

Their coffee’s so bad it’s undrinkable So that leaves one with…well…a glass of water.

Today’s service was so bad and the seating so uncomfortable that we decided enough was enough. We planned to meet at Denny’s next week.

This of course entailed my tracking down Denny’s management and confirming that our band of merry robbers could meet there next week, making a reservation, and sending out a notice to the membership. And that elicited a suggestion from the Boss Man that really, really despite my peevishness I should let First Watch let we would not be there next week.

That is because he is a nice man and I am not a nice woman. I personally feel that their not even bothering to have set up our table this morning is a perfectly fine reason not to bother to inform them that we will not be there next Thursday.

And therein lies the difference between a gentleman and the Wicked Bitch of the West…

Discussed the e-book with Wonder E-book Fomatter. The elaborate graphics have him pulling out what little remains of his hair, too. Not only do the images make him crazy (he’s actually got those down pat), he hates loathes and despises footnotes, which generate layer on layer on layer of extra work for him. He tortured himself by counting the damn things, leading him to point out — four or five times — that I’ve inserted 88 notes in the thing. I suggested he simply substitute links; this elicited a lengthy disquisition on what a PITA that is.

Life is a PITA.

It is now after dark. I haven’t walked the dogs. Yea verily, I haven’t walked the dogs in many days. They grow frustrated; I grow fat.

Oh well. Things could be worse. Our honored Clown in Chief could, for example, launch us into an open war with Syria, for example….

That oughta up his approval rating amongst the ones born every day…

 

 

FinCon AZ

Last night I attended a meeting of FinCon folks who live here in lovely uptown Arizona or visit. Deacon Hayes of Well Kept Wallet engineers these shindigs (though last night he passed the baton to another member); last night’s was attended by a roomful of PF bloggers.

What I really enjoy about this group is their amazing energy and ambition. These are folks who get on a mission and stay on a mission! Listening to them describe their marketing strategies and the great ideas they’ve designed for their websites and their businesses, I find myself thinking…i have gotta get off my duff… They really are an inspiring group.

Check out members’ websites (hope I’ve got them all!):

Money Peach
Well Kept Wallet
Pelleton Capital Management
According to Athena
The Debt Myth
Money Smart Family
Sunburnt Saver
Life in FIRE
Wealth Clinic
CentSai
Mortimer’s Money Machines
Power over Life
Real Estate Decoded