Sharon Marchisello's Blog, page 21
August 1, 2016
Countdown to Financial Fitness: Free Stuff From Charities
Countdown to Financial Fitness: Free Stuff From Charities: I donate regularly to several animal-related charities, but every time I give, I am inundated by solicitations from many other animal-relat...
Free Stuff From Charities
I donate regularly to several animal-related charities, but every time I give, I am inundated by solicitations from many other animal-related charities who most likely bought my contact information from a mailing list. Same thing happens when I give to an organization that fights cancer. Every other cancer charity, plus a few organizations that specialize in fighting other diseases, suddenly start asking for contributions. I'm sure most of these are worthy causes, but a person could go broke supporting all of them.
Often, along with the request for money, charities send me personalized address labels, note cards, note pads, or calendars. Some of them are quite pretty. I can't remember the last time I ever had to buy a calendar, scratch pads, or personalized address labels.
But then come the guilt letters. "Just checking to see if you received the new calendar we sent you. Here's another envelope for your donation, which we're depending on to...." Wait a minute! I didn't order that calendar. You said it was a free gift. I didn't even know you were sending it.
My mother-in-law and I used to discuss this moral dilemma. At first, she thought the solicitations would go away if she'd just send a check. Instead, they multiplied. With more "free gifts" for which payment was expected.
Still, she'd admonish, how can I ethically use something I didn't pay for? It's a beautiful calendar; it must have been expensive to produce. (So that's what the charity did with my donation?)
But what to do with all these "free gifts" with strings attached? Return them? Am I obliged to pay the postage, too? It would be insulting to return the items in the prepaid, self-addressed envelopes the organization sent in anticipation of a donation. (The ones that try to guilt you further by suggesting you affix your own stamp to increase the value of your donation.) And besides, what are they going to do with personalized address labels with my name on them? I'm not helping the charity by sending their stuff back.
So I use the items. Shamelessly. I make my grocery lists on their note pads. Excess address labels make great "low-tech LoJack" for cell phones, glasses cases, and Tupperware containers. If I receive more calendars than I can use, I offer them to others who might need one. And even if the charity didn't get a donation from me, I'm helping to increase awareness for its work.
I still donate as much as I can afford to the causes I believe in, but I don't base my decision on the fact that the organization sent me a calendar.
How do you feel about "free gifts" with charitable solicitations? I would love to hear your comments.
Sharon Marchisello is the author of Live Cheaply, Be Happy, Grow Wealthy
Often, along with the request for money, charities send me personalized address labels, note cards, note pads, or calendars. Some of them are quite pretty. I can't remember the last time I ever had to buy a calendar, scratch pads, or personalized address labels.
But then come the guilt letters. "Just checking to see if you received the new calendar we sent you. Here's another envelope for your donation, which we're depending on to...." Wait a minute! I didn't order that calendar. You said it was a free gift. I didn't even know you were sending it.
My mother-in-law and I used to discuss this moral dilemma. At first, she thought the solicitations would go away if she'd just send a check. Instead, they multiplied. With more "free gifts" for which payment was expected.
Still, she'd admonish, how can I ethically use something I didn't pay for? It's a beautiful calendar; it must have been expensive to produce. (So that's what the charity did with my donation?)
But what to do with all these "free gifts" with strings attached? Return them? Am I obliged to pay the postage, too? It would be insulting to return the items in the prepaid, self-addressed envelopes the organization sent in anticipation of a donation. (The ones that try to guilt you further by suggesting you affix your own stamp to increase the value of your donation.) And besides, what are they going to do with personalized address labels with my name on them? I'm not helping the charity by sending their stuff back.
So I use the items. Shamelessly. I make my grocery lists on their note pads. Excess address labels make great "low-tech LoJack" for cell phones, glasses cases, and Tupperware containers. If I receive more calendars than I can use, I offer them to others who might need one. And even if the charity didn't get a donation from me, I'm helping to increase awareness for its work.
I still donate as much as I can afford to the causes I believe in, but I don't base my decision on the fact that the organization sent me a calendar.
How do you feel about "free gifts" with charitable solicitations? I would love to hear your comments.
Sharon Marchisello is the author of Live Cheaply, Be Happy, Grow Wealthy
July 25, 2016
Countdown to Financial Fitness: Do You Need a Financial Planner?
Countdown to Financial Fitness: Do You Need a Financial Planner?: I'm a do-it-myself investor, but that doesn't mean I am against people using professional financial planners. Some people do their ...
Do You Need a Financial Planner?
I'm a do-it-myself investor, but that doesn't mean I am against people using professional financial planners. Some people do their own car repairs or home renovations; I have no problem delegating those tasks to a professional.
If you don't have the interest or the time needed to research and monitor your investments, by all means, use a professional. But choose wisely.
First of all, ask about credentials. Although things have gotten a little better since the financial crisis of 2008, the terms financial adviser, financial planner, etc., are still not well-regulated. You'll see names with a lot of important-looking initials after them—designations that can represent anything from a graduate degree to a certificate of completion for an online course or weekend seminar. When you interview an adviser, ask what those letters stand for, and what was required to earn them. (And then google the credential to verify.)
Next, ask how the person gets paid. "My adviser doesn't charge me any fees," a friend of mine told me. "It just comes out of the investments." Sounds great. But how much are you really paying?
Look around at the offices. Is there a secretary? A coffee maker and comfortable chairs? Assistants? None of this is free. Nor should it be.
There are three ways financial professionals get paid:Fee only (an hourly rate, or set charge per service)Commission (a bonus for buying and/or selling a financial product for your portfolio). "It just comes out of the investments."Percentage (an annual percentage of the assets under management). Most of the quotes I've heard run about one percent; slightly less for larger portfolios, maybe slightly more for small ones.It sounds counterintuitive to pay a fee for financial advice from a professional when you could get the service "free." But think about it: an adviser who sells you products in addition to giving you advice has a conflict of interest.
Certainly, ethical financial planners would not steer their clients toward inappropriate investments. But if the choice is between a five-star growth fund with a sales charge and a hefty commission for the broker who sells it and a five-star growth fund with no load and no sales commission, that the client could buy directly from the investment company, which one would you recommend if you were the broker? Both meet your client's financial objectives, but only one pays your electric bill. You haven't broken any laws or deceived your client, and maybe you truly believe the fund offering you the big sales commission isbetter. (And it has to be lots better to make up for its up-front sales charge.)
Next, find out who is really managing your money. Is it truly the friendly family man who wooed you with a free dinner and informational seminar at a nice restaurant, followed by a free consultation in his plush office? Or a team of "experts" at a "headquarters" in another city? (Another middle man on your payroll.)
Also, find out if your money will be invested in publicly traded financial products, or proprietary funds set up by your adviser's company. Not only will you be able to do independent research on the performance of the publicly traded funds you've invested in, but if you ever decide to change advisers or move your money to another institution, you most likely will be able to transfer the assets "in kind," whereas a proprietary fund would have to be cashed out. When you cash out, you may be forced to lock in losses during a down market or face unwanted tax consequences.
Finally, you should expect transparency and accountability from your financial adviser. Open your statements promptly and read them, just as you would a bill or an estimate for a repair job. Ask questions if something is unclear. No question you ask is too stupid, and you should not be made to feel otherwise. Keep asking until you truly understand; insist that the adviser clarify in simple terms.
Establish up front whether the adviser will have the authority to buy and/or sell assets on your behalf and if so, under what circumstances. Don't let anyone talk you into a transaction you're not comfortable with, or into buying a product you don't understand. Never lose sight of the fact that it is your money, and the adviser works for you.
What advice can you share about working with a financial planner? I would love to hear your comments.
Sharon Marchisello is the author of Live Cheaply, Be Happy, Grow Wealthy
If you don't have the interest or the time needed to research and monitor your investments, by all means, use a professional. But choose wisely.
First of all, ask about credentials. Although things have gotten a little better since the financial crisis of 2008, the terms financial adviser, financial planner, etc., are still not well-regulated. You'll see names with a lot of important-looking initials after them—designations that can represent anything from a graduate degree to a certificate of completion for an online course or weekend seminar. When you interview an adviser, ask what those letters stand for, and what was required to earn them. (And then google the credential to verify.)
Next, ask how the person gets paid. "My adviser doesn't charge me any fees," a friend of mine told me. "It just comes out of the investments." Sounds great. But how much are you really paying?
Look around at the offices. Is there a secretary? A coffee maker and comfortable chairs? Assistants? None of this is free. Nor should it be.
There are three ways financial professionals get paid:Fee only (an hourly rate, or set charge per service)Commission (a bonus for buying and/or selling a financial product for your portfolio). "It just comes out of the investments."Percentage (an annual percentage of the assets under management). Most of the quotes I've heard run about one percent; slightly less for larger portfolios, maybe slightly more for small ones.It sounds counterintuitive to pay a fee for financial advice from a professional when you could get the service "free." But think about it: an adviser who sells you products in addition to giving you advice has a conflict of interest.
Certainly, ethical financial planners would not steer their clients toward inappropriate investments. But if the choice is between a five-star growth fund with a sales charge and a hefty commission for the broker who sells it and a five-star growth fund with no load and no sales commission, that the client could buy directly from the investment company, which one would you recommend if you were the broker? Both meet your client's financial objectives, but only one pays your electric bill. You haven't broken any laws or deceived your client, and maybe you truly believe the fund offering you the big sales commission isbetter. (And it has to be lots better to make up for its up-front sales charge.)
Next, find out who is really managing your money. Is it truly the friendly family man who wooed you with a free dinner and informational seminar at a nice restaurant, followed by a free consultation in his plush office? Or a team of "experts" at a "headquarters" in another city? (Another middle man on your payroll.)
Also, find out if your money will be invested in publicly traded financial products, or proprietary funds set up by your adviser's company. Not only will you be able to do independent research on the performance of the publicly traded funds you've invested in, but if you ever decide to change advisers or move your money to another institution, you most likely will be able to transfer the assets "in kind," whereas a proprietary fund would have to be cashed out. When you cash out, you may be forced to lock in losses during a down market or face unwanted tax consequences.
Finally, you should expect transparency and accountability from your financial adviser. Open your statements promptly and read them, just as you would a bill or an estimate for a repair job. Ask questions if something is unclear. No question you ask is too stupid, and you should not be made to feel otherwise. Keep asking until you truly understand; insist that the adviser clarify in simple terms.
Establish up front whether the adviser will have the authority to buy and/or sell assets on your behalf and if so, under what circumstances. Don't let anyone talk you into a transaction you're not comfortable with, or into buying a product you don't understand. Never lose sight of the fact that it is your money, and the adviser works for you.
What advice can you share about working with a financial planner? I would love to hear your comments.
Sharon Marchisello is the author of Live Cheaply, Be Happy, Grow Wealthy
July 19, 2016
Clutter Can Cost You
Clutter can be unhealthy and add stress to your life, but did you know it can also cost you money? Consider the following examples, where clutter and disorganization may result in unnecessary expenses:
A bill arrives in the mail. The family member who checks the mailbox drops the stack of unopened mail in the backseat of his car or tosses it on a cluttered table somewhere. By the time the person who pays the bills discovers it, the payment is overdue, and a late charge has been applied.
You buy a pint of fresh, juicy strawberries and then stuff them in the refrigerator behind some other groceries. By the time you wonder what happened to them, they are covered in mold.
You have a discount coupon or a gift card for your favorite restaurant, but you can't remember where you put it. You end up paying full price for your meal. When the coupon finally turns up, it has expired.
You need a black turtleneck to go with a new outfit you plan to wear next week. When you make a place in your closet for your new purchase, you discover another black turtleneck, perhaps the same size and design, with the tags still on it.
You love to shop when you travel, and when you find the perfect holiday or birthday gift for someone on your list, you buy it on the spot, regardless of season. Only problem, when that gift-giving occasion rolls around, you buy something new, because you forgot where you stashed the original present—or even that you had it.
A little organization and clutter reduction can simplify your life, and save you money as well.
For example, automate as many bills as possible or set up email reminders so you don't miss a payment. If you pay your bills by check through the mail, establish a system, such as a special folder or in-basket that is monitored regularly. Know when payments are due, so if a bill gets misplaced or lost in the mail, you can rectify the situation before your account becomes delinquent.
Take inventory of what is in your closet. Get rid of clothing you no longer use, so you can more easily locate the garments you still wear. Set aside a drawer or area of the closet for gift purchases, and check it before planning a shopping trip for a gift-giving occasion.
Designate a spot near the door for keys, lists, coupons, library books, borrowed items, purchases that have to be returned. Think of the time you'll save looking for these things.
Arrange your refrigerator and pantry shelves so perishables are visible, and food items with the oldest date are used first. Do a quick review of what you have on hand and make a list before you go grocery shopping.
And if your efforts to save money through organization lead to a less-cluttered, less stressful life, so much the better!
What tips do you have for reducing clutter? I would love to hear your comments.
Sharon Marchisello is the author of Live Cheaply, Be Happy, Grow Wealthy
A bill arrives in the mail. The family member who checks the mailbox drops the stack of unopened mail in the backseat of his car or tosses it on a cluttered table somewhere. By the time the person who pays the bills discovers it, the payment is overdue, and a late charge has been applied.
You buy a pint of fresh, juicy strawberries and then stuff them in the refrigerator behind some other groceries. By the time you wonder what happened to them, they are covered in mold.
You have a discount coupon or a gift card for your favorite restaurant, but you can't remember where you put it. You end up paying full price for your meal. When the coupon finally turns up, it has expired.
You need a black turtleneck to go with a new outfit you plan to wear next week. When you make a place in your closet for your new purchase, you discover another black turtleneck, perhaps the same size and design, with the tags still on it.
You love to shop when you travel, and when you find the perfect holiday or birthday gift for someone on your list, you buy it on the spot, regardless of season. Only problem, when that gift-giving occasion rolls around, you buy something new, because you forgot where you stashed the original present—or even that you had it.
A little organization and clutter reduction can simplify your life, and save you money as well.
For example, automate as many bills as possible or set up email reminders so you don't miss a payment. If you pay your bills by check through the mail, establish a system, such as a special folder or in-basket that is monitored regularly. Know when payments are due, so if a bill gets misplaced or lost in the mail, you can rectify the situation before your account becomes delinquent.
Take inventory of what is in your closet. Get rid of clothing you no longer use, so you can more easily locate the garments you still wear. Set aside a drawer or area of the closet for gift purchases, and check it before planning a shopping trip for a gift-giving occasion.
Designate a spot near the door for keys, lists, coupons, library books, borrowed items, purchases that have to be returned. Think of the time you'll save looking for these things.
Arrange your refrigerator and pantry shelves so perishables are visible, and food items with the oldest date are used first. Do a quick review of what you have on hand and make a list before you go grocery shopping.
And if your efforts to save money through organization lead to a less-cluttered, less stressful life, so much the better!
What tips do you have for reducing clutter? I would love to hear your comments.
Sharon Marchisello is the author of Live Cheaply, Be Happy, Grow Wealthy
Countdown to Financial Fitness: Clutter Can Cost You
Countdown to Financial Fitness: Clutter Can Cost You: Clutter can be unhealthy and add stress to your life, but did you know it can also cost you money? Consider the following examples, where c...
June 14, 2015
Poem about Going Home
My friend and Sisters and Crime colleague, Diana Brown, wrote a nice poem about my mystery novel, Going Home:
Going Home's about murder
loss and love, you will see
The book’s readers will wonder
who the murderer can be
Should an elderly mother
have all blame assigned
For killing her caregiver
who arrived right on time?
What’s causing mom’s mem’ry
its current loss of function
"I won’t let my mother
go to jail at this junction"
Vows her daughter who sets out
this murder to solve.
To exonerate her mother
is her passionate resolve.
Next, a long-ago secret
is revealed to confuse
Even more of the story
more questions infuse
The plot line is twisty
but we all are agreed
That the book, “Going Home”
is a page-turner to read.
Going Home's about murder
loss and love, you will see
The book’s readers will wonder
who the murderer can be
Should an elderly mother
have all blame assigned
For killing her caregiver
who arrived right on time?
What’s causing mom’s mem’ry
its current loss of function
"I won’t let my mother
go to jail at this junction"
Vows her daughter who sets out
this murder to solve.
To exonerate her mother
is her passionate resolve.
Next, a long-ago secret
is revealed to confuse
Even more of the story
more questions infuse
The plot line is twisty
but we all are agreed
That the book, “Going Home”
is a page-turner to read.
March 15, 2015
Emerging Writers Showcase
I will participate on an authors panel on Saturday, March 21, from 1 p.m. to 4 p.m. at the Fayette County Library. Please come join me and five other local authors. Signed copies of Going Home will be available for sale, and the proceeds will benefit the Fayette Humane Society and the Friends of the Fayette County Library.
November 4, 2014
Book signing
Book signing at Fayetteville library, 1821 Heritage Park Way, Fayetteville, GA. Tuesday, December 2, 7 p.m. Phone 770-461-8841. Proceeds benefit Fayette Humane Society and Friends of the library.
