life

Tuesday’s Tip: Set Your Credit Report Straight

/ abschilling / Leave a comment

Last week I wrote about our recent experience with credit card fraud. My husband and I took the necessary steps to make sure our credit, and our good names, were secure by cancelling our credit card, getting a new one, and obtaining credit reports for each of us. Then, someone who had read the post asked me what to do if something was wrong with the report . . . if there was information that was incorrect. What to do?

Well, it happens. In fact, what I didn’t elaborate on last week was that there was a discrepancy on two of my reports. When we looked at the reports, we noticed that there was a credit card listed that didn’t belong to me. Upon closer inspection, we discovered that the credit card had been opened October 1st of 1980. 1980?!?!?! How in the world could I have opened a credit card in 1980? I was 8 years old for cryin’ out loud! It was a good thing that whoever owned the card paid on time every month, but still . . . it wasn’t mine. I tried to think of any reason why this would be on my credit report, but nothing came to mind. And it made me a little nervous . . . I wanted it off my report! I called the numbers listed on the reports and asked what I should do to remove it. One representative I spoke with asked me a few questions, then simply told me it would be removed and that she’d send a confirmation email. The other rep I spoke to was really nice and even looked into it a little further for me. She told me that I was an “authorized user” on the card. I asked her what that meant. She said it meant that I had authorization to actually use the card, but that it wasn’t in my name. I wasn’t the owner. I had to laugh, then, when she told me that my maiden name was associated with the card and the last reported address on the card was my dad’s! So, I thanked her for taking care of it for me . . . and then promptly called my dad. 🙂

Moral of the story: If you get a credit report and find that something’s amiss, don’t panic – but don’t wait. Set it straight.

Experian, Trans Union, and Equifax will give you the option of disputing information you feel is erroneous. There’s a section on the credit report that informs you of your rights, how you can combat identity theft, and how to contact them if you want to file a dispute. In some cases, you can click on a button to file a claim, or you can call their toll-free number and talk to an actual person. You might find that it’s something related to a family member, like I did, or you may find that someone could be using your information illegally. In any case, it’s a good idea to get your yearly (FREE) credit reports, pay attention to anything that seems fishy, and report it immediately. You have rights. Fight for what’s yours.

Good luck!

Tuesday’s Tip: Count Your Blessings

/ abschilling / Leave a comment

New Year’s Eve: easily one of the most anticipated days of the year – or one of the most dreaded. Whether we’re bidding a fond ‘farewell’ to great times or saying ‘good riddance’ to memories we’d rather forget, we tend to spend this time reflecting on the events of the past year before we look ahead to whatever awaits us during the year to come. And it isn’t always easy.

For me, I belong to the group of people who would like to tie up 2013 in a trash bag and throw it on the curb. It can rot in the dump alongside 2012. My family and I have endured enough heartache and loss in two years to last us for quite a while, so I suppose we’re hoping not necessarily for a prosperous or wonderful year, but maybe just one that doesn’t beat us up so much. And I know I’m not alone. Many people feel this way. It’s a little frightening to wonder what life has in store for us in the new year after all we’ve been through.

But as much as I might like to wash 2013 down the drain, I must also show a little gratitude for what the struggles have revealed to me. My friends supported me, even when I was at my worst. I’ve grown closer to others in my family. I appreciate and enjoy my children more. My marriage is stronger than ever. My feelings about what’s really important in life have changed for the better. And I’ve survived, which tells me I’m tougher than I thought.

So, I’m thinking that instead of feeling sorry for myself as I ring in 2014, maybe I’ll rummage through 2013, keep what I need, and toss the rest. Then I’ll start fresh in the morning and take it as it comes, grateful for all that I have. I’m not saying that I won’t grieve or feel sadness or anger, but I just won’t let it consume me. I’ll have another New Year’s Eve whenever I need it, take stock of the good stuff, get rid of the bad, and keep going.

I’m not one for making New Year’s resolutions, but maybe counting my blessings every once in a while is a good start . . .

Tuesday’s Tip: Keep Your Balance!

/ abschilling / Leave a comment

When people ask me about my book and what it does, I tell them that it’s a kind of ‘workbook’ that’s designed to help them set up their very own Roadmap and learn how to effectively manage their money. How? they ask. I say that it asks them to take a good, hard look at how they spend their money, to set priorities (goals) for themselves, and to stick with it. The book teaches them how to do these things as well as how to set up their Roadmap and how to use it on a regular basis. It helps them keep track of their money – where it’s going, where it needs to be, and what to do with the rest. Sometimes the next question that comes up is How do you know how much money you’re supposed to start with? I then explain that they’ll start with whatever amount is in their account – which is usually followed up by How am I supposed to know how much is in my account? And I say, Well, you’ll need to balance your checkbook.

It’s then that I fear I’ll have to use CPR. They inhale sharply, their hands fly to their chests, their eyes widen, and their mouths gape in horror at the mere thought of having to balance their checkbooks. I reach out to them. I try to steady them with a calming hand on the arm. Occasionally, I have to remind them to breathe . . .

As terrifying as it may sound, balancing your checkbook is one of the first, necessary, steps to setting up your Roadmap and getting control of your finances. You have to make sure all of your debits (outgoing money) and credits (incoming money) are completely accounted for, included in your checkbook, and the balance matches what the bank says you have. This can be particularly difficult if you’ve never balanced your account before, or if it’s been a really long time. But in all honesty, once that’s done, it’s much easier to keep up with it if you balance every time you get your statement. (And if you’re not sure how to do it, there are usually instructions on the back that walk you through it!)

Having a current and accurate balance is needed when setting up and using your Roadmap, but it’s also incredibly important to note that it will also help you find any discrepancies, mistakes, or unauthorized use of your account. In this day and age of identity theft, you can’t be too careful with your money! No one at the bank is monitoring your account, and the computer simply spits out your statement, which means it’s up to you to be on top of it. And the best way to do that is to keep your balance up to date and accurate.

I’ve had many, many conversations about money management and finances, and I can tell you right now that one of the most important, and simplest, things you can do for yourself is to keep track of your money on a regular basis. Balance your checkbook every month, keep your Roadmap updated, and once you get the hang of it I’m certain some of that anxiety will start to slip away and you’ll feel much better knowing that you’re in control. It’s a balancing act, but I know you can do it.

Tuesday’s Tip: It’s in the Cards

/ abschilling / Leave a comment

I recently went out for breakfast with my friend, Jill, and as I settled into the booth, she slid an envelope my way. I smiled, picked it up, and asked her what this was for. She smiled back and wished me a happy birthday. I was touched by her thoughtfulness and I’m sure I blushed a little. For as often as I insist that my birthday is ‘just another day’, that I still have to get up, take care of my kids, do laundry, cook, clean, go to work, or do whatever it is I need to do – it always warms my heart when someone recognizes it. Even if just to say the words.

I thanked her and took the card in my hands. The envelope looked fancy. It had a birthday cake on the front and some retro curvy stripes on the flap. ‘Happy Birthday’ was even embossed on blue foil. I opened it up. The card itself was made of heavy blue paper, the kind used for scrapbooking, adorned with appliqués of those retro stripes and matching ribbon, ‘Happy Birthday’, and a cake with sparkly candles. It was so pretty! Inside, the message read, “Wishing you a happy birthday”. She added a personal note that made me laugh out loud. (No, I’m not going to share it with you here – it’s personal!)

Birthday Card

It really was a beautiful card and it looked handmade, so I asked her if she’d created it. That’s when she gave me that sheepish grin of hers and confessed her little secret: it was one of many greeting cards included in a large box set that she bought at a wholesale club store.

My jaw dropped. She laughed. Then she proceeded to explain that she’d discovered one of these sets a few years ago and that it was different every year. It contained cards for just about every occasion you could think of: anniversaries, weddings, babies, birthdays, sympathy, and even thank you cards. She couldn’t remember exactly how many were in the box or how much it cost, but according to her estimate, the cards averaged out to less than $1 per card. Again, my jaw dropped. Considering we readily pay $2 . . . $3 . . . $4 per card at the grocery store or a gift store, this was a great find! I couldn’t believe it! (I also made a mental note to look for it the next time I was there . . .)

Long story short . . . I was incredibly touched by the simple, yet heartfelt gesture of my dear friend. She didn’t have to give me a card for my birthday, but she did – and I felt loved. It reminded me that something as simple as a birthday wish could bring so much joy to a person’s life. We’re all busy. It’s hard to find time to give the kind of attention our friends and family deserve. But the small gesture of a card to say, “I’m thinking of you” could just make someone’s day . . . or week . . . or month . . . you get the picture.

And it doesn’t have to cost a fortune! ;D

Tuesday’s Tip: Mix and Match

/ abschilling / Leave a comment

I recently accepted a new job . . . one in which I need to dress very professionally. Granted, it’s part-time, however I still need to wear appropriate clothing. And that gave me a bit of anxiety. Being a mom, camper/hiker, runner, and outdoor education guide, my dress code has been, to say the least, incredibly casual. So, I ventured into my closet to find out what suitable clothes I had that still fit me. (Ugh.)

As anal retentive as I am, I began organizing everything by item, i.e. pants, skirts, blouses, etc., and evaluating each, asking myself a few key questions: Was it old? Did it look old? When was the last time I wore it? Did I like it anymore? If the item survived that round, I tried it on. If it didn’t fit, I got rid of it. If it did, I put it back on the hanger and put it with the rest. What resulted was this: a few dress pants in black, brown, navy, and one gray . . . a couple of blouses, both long and short-sleeved . . . some nice sweaters . . . a couple of blazers . . . and a few dresses and skirts. The good news was that I had enough shoes to match whatever I wore, so that was a plus. But my dressy wardrobe was, admittedly, a little on the thin side. I sighed.

That’s when my hubby walked in. He saw me, hands on my hips, examining my clothes and asked what the heck I was doing. “Trying to find out how much I have for my new job,” I replied.

He nodded his understanding, stood next to me for a few seconds, also evaluating my wardrobe, and then said, “Doesn’t look like a whole lot. Do we need to go shopping?”

I rolled my eyes and stuck out my tongue. “Oh, ick!” I know, real mature, but there are two reasons for that: 1) I really, really don’t like shopping, and 2) I didn’t want to spend a bunch of money on a part-time job until I had a better idea of where it might lead.

Hubby just shrugged his shoulders and said, “I know, but if you need some new clothes, then let’s go buy some for you. Besides, I need a few pairs of pants. Some of mine are getting ratty,” he explained as he touched the cuffs on his side of the closet.

“Well, let me see what I can do,” I said, not ready to hit the stores just yet. I had an idea . . .

I began looking at colors. Then I looked at style and season. I discovered that a few of my outfits had two parts, i.e. a dress with a matching jacket, and realized that if I split up the parts and paired them with something else, I created a whole different outfit. Suddenly, I saw that this blazer could be paired with those pants and that blouse, or that skirt goes with this top and that sweater. The little jacket that goes with that dress would look really cute with this shell and these pants. Wow! Then I hit a snag. These two skirts don’t have any tops that match. Hmmm . . . I may have to go shopping – but only for a few basic things. And if I get them in colors that go with everything else, then I’ll have even more options!

The point is, when you’re short on money or don’t want to spend a lot on clothes, there is a way: mix and match. If you’re not sure how to do that, here’s a tip. Look at the colors in your closet. What do you see? Chances are you see a lot of items in similar colors or in colors that you like and that look nice on you. Now, do you see any full outfits or ones with two or more “parts”? Separate them. Take that bolero jacket and see if it goes with anything else. Does that blouse look good with a few different pairs of pants? How about that sweater? Will it go with those pants or this skirt?

And you men out there, don’t think this only applies to women. You can do it, too. You probably have pants in different colors that can be paired with different shirts. Try switching it up once in a while. Instead of wearing the green shirt with the tan pants all the time, try the pants with that cool rust colored shirt, or the blue one. How about the bold plaid shirt with those black pants? Or the red striped shirt with the navy pants? Go nuts. Try it.

And the next time you go shopping for clothes, take into consideration the different combinations you can make with what you’re tossing into your cart. Buy things in similar colors or patterns so that you can mix them up later. There’s no need to buy outfits that should always be worn together. They say that variety is the spice of life. I say that’s true. But I also say it doesn’t have to cost you a fortune.

Tuesday’s Tip: Find the Freebies

/ abschilling / Leave a comment

The other day, someone mentioned my post about buying memberships, but hinted that it’s not exactly feasible for her and her family at the moment and asked me if there was something else I could recommend. There is one thing . . .

FREEBIES!

During certain times of the year, including summer, holidays, and slow months, there can be a multitude of specials the whole family can enjoy. Here are a few tips:

1) Check out coupon sites online. There are lots of sites that have things like buy 1 Get 1 sales or free products and services – just be sure to do a little research first and pick the sites that offer things you like to do.

2) Check websites of your favorite museums. Many times they’ll offer free admission on certain days of the week. Usually it’s midweek, or a day that’s typically slow for them. If you can manage a day off, it’s worth it. There’s less traffic and smaller crowds to deal with!

3) Many communities are now offering events like ‘Movies in the Park’ or summer festivals that offer free admission. Sometimes you can even bring your own food and picnic there.

4) Research places that offer free things for students. You’d be surprised how many places will give kids a price break if they bring their student ID!

5) Last, but not least, check out websites for free things to do in your area or a closer, major city. Type something like free things to do in fill in the city name here and see what happens.

The point is, you can have a good time without completely emptying your wallet. If a membership isn’t in the cards for you right now, that’s ok. But you don’t have to stay at home everyday wondering what to do to keep your kids from murdering each other. Yes, it takes a little bit of effort, but here’s another tip: if you’re part of a social network, see what you’re friends are up to, what they’re doing, and where they’re going. You might find some good ideas and great deals.

Happy summer!

Tuesday’s Tip: Invest for Your Future

/ abschilling / Leave a comment

As the last post regarding what to do with your tax refund, I’d like to suggest beginning to set aside some money for you. I’m assuming that you’d rather not work until you’re 96, so now is the time to stash away some cash for your retirement. Some of you may think ‘Oh, I’m too old to start saving for retirement’, or ‘I can barely get by on a daily basis, how the heck am I going to save for the future?’. Well, guess what? It’s never too late. And if  you’re in a pickle, financially, then it’s time to fix up the engine so you can get behind the wheel and go where you’d like to go.

If you participate in a retirement savings program through your company, like a 401(k), good for you. That’s fantastic. But to be honest, I wouldn’t necessarily count on that as your sole source of income after you retire. In this day and age, you need to cast your net a little wider to ensure you don’t have to eat peanut butter and jelly for the rest of your life.

There are several different coffee cans to toss your spare pennies into, like bonds, CDs, mutual funds, stocks, money market accounts, IRAs, and such. (I’m not going to give you any kind of advice about which ones are performing well or suggest that you buy into any one fund or stock. I’m merely pointing out that you have options.) These types of investment opportunities are separate from a company-sponsored 401(k), so it’s up to you to decide how much money you want to invest – and then you make the deposits. You can do that monthly, quarterly, yearly – whenever you have some extra cash to throw at it. That’s why I suggest using your tax refund money to get you started. If you don’t need it, why not put it to good use? But let me throw in a word of caution: if you’re going to make this one of your priorities, make sure that you keep up with it. There’s no sense in opening an account if you’re never going to contribute to it.

If this sounds like something you’d be interested in doing, then hop on the computer and do a little research. Visit the websites of different investment firms in your area, find out what they have to offer, and then make an appointment. A professional financial planner can answer any questions you may have and will give you advice about the best places to put your hard-earned cash.

And just so you know – he or she will probably ask you what your goals (a.k.a. priorities) are in life. Maybe now would be a good time to brainstorm . . .

Tuesday’s Tip: Invest in Your Home

/ abschilling / Leave a comment

If you own your home, you know that the projects seem to be never-ending. There’s always something that needs to be fixed, painted, or replaced. Things wear out. It happens. But the real problem comes when you have to scrounge up enough money from somewhere to buy a new water heater because your old one unexpectedly handed in its resignation all over your floor. The trick is to have some money on hand for The Unfortunate. You may not have a lot to spare, but earmarking some is certainly something to think about doing so you’re not panicking if an emergency arises.

But what about the things you’re planning to do? Maybe you’d like to get new kitchen appliances . . . or new flooring . . . or new furniture . . . or you need to paint a few rooms . . . the list can go on and on. If you’re eyeing that fridge you saw in the ad, then grab a calculator and do a little math. How much is it? How much is it on sale? How much do you need to set aside each month (or paycheck) so that you can buy it in 3 months? 6 months? Do you need new carpet in the family room? Measure the room. Find the square footage. Shop around and compare prices. How much would it cost to carpet the room? How much do you need to save each month to have it installed in 4 months? 8 months? A year? Do they offer some favorable financing? Or maybe a deal offering no interest, no down payment, etc.?

If you’re contemplating a home improvement project, do a little research and little investigating. Look into different types, models, prices, value, or selection. Be on the lookout for sales and discounts. Then, do the math. One of the principles of The Money Roadmap is to set aside a predetermined amount of money for each of your priorities on a regular basis so that it’s there when you need it. If you do your detective work, then you’ll have a much better idea of how to accomplish your goal. If it’s something that can be achieved with your refund alone, then give it some serious thought. If it’s a more expensive endeavor, then use some of your tax refund to get started, then add to it regularly until you’ve met your goal. Consider it a sort of ‘down payment’ on what you’re working toward.

Your home is your living space . . . work space . . . family place . . . hiding place . . . you name it. So put your money to good use and make it yours.

If you’re interested in learning more about how to have more control over your money, check out my book The Money Roadmap: You choose the destination AND the way! Good luck to you! You know where to find me if you have any questions!

Tuesday’s Tip: Invest in Your Kids

/ abschilling / Leave a comment

In this week’s installment of ‘what to do with your tax refund’, I’d like to suggest that you invest in your children. Invest in their futures. “You mean, like, save for college?” Well, yes. And no. There’s more than one way to give your kids a helping hand. Even if you don’t have kids, but will, keep these thoughts in mind for future reference.

If you have visions of sending your kids off to college someday, you may want to consider a higher education savings program. And by ‘higher education’, I mean anything beyond high school. There are several options out there, and that can get pretty confusing, so it’s best to chat with a professional who can sort it all out for you and help you decide which way to go. Every investment firm has people to help you, or you can ask a friend or colleague to recommend one. I’ll be going into a little more depth about these options at a later date, but for all intents and purposes, today, I’m just trying to plant a few seeds for you. One word of advice though . . . start as soon as you can and then stick with it. Or start with your refund and do what you can when you can. Every little bit helps.

Another way to invest in your kids is to get them involved. Use the refund money to pay for music lessons or to learn a sport. Both activities teach kids how to be valuable members of a group, develop fine motor skills, and improve self-confidence. Sports help kids maintain healthy lifestyles and weight, and studies have shown that kids involved in music do better in school. So, not only will your kids be active and engaged, but the skills they’ll learn will teach them discipline, cooperation, and that hard work pays off. Who knows, their talents may even help them into college, if that’s their dream.

If your child is completely against music or sports, there are other options to pursue. There are classes they can enroll in through libraries, park districts, and even local community colleges. If your child has a talent for creating delicious meals, then try a junior chef class. If he or she has a knack for computers, there are many classes that focus on things from program or gaming design to architecture. And if your kid loves photography, try one of those. The possibilities are nearly endless. Talk with your children about what interests them and move forward from there. There are lots of inexpensive options if you spend a little time doing some research.

I could go on and on about the benefits of getting kids involved in all kinds of activities, but I’ll save that for another time, maybe. But for now, I’ll just make the humble suggestion of putting your tax refund to good use by using it to pave the way to self-discovery and to help build their futures . . . whatever they may be.