Growing up, if we were harassed, followed or in any way disrespected while shopping or eating at a restaurant, my mother would make a verbal complaint. If the business' behavior was way out of line, Mommy would sit down when we got home and write one of her 'poison pen' letters, expressing her displeasure. We never returned to that establishment, even if it meant going out of our way to get to similar services elsewhere.
When I got older, I found ways to make even more effective complaints, to the business' corporate offices, the state attorney generals office, various licensing organizations. And following in my mothers footsteps, I had my own personal boycott and stopped patronizing those businesses.
Of course, nowadays, displeasure in customer service can go worldwide instantly by Twitter, Yelp or a FaceBook campaign. But even if you and your friends and family no longer patronize a certain business, does it really count? Does it matter?
POSITIVE CORPORATE CULTURE = MORE MONEY
Well, according to Kyle Colona, Financial Writer for The Motley Fool website, the reverse does matter. When businesses treat their customers well, the customers are happy, the sales increase and so do the profits. In his article, How Culture Can Drive Returns, Mr. Colona theorizes that a positive corporate reputation creates more revenue for the company. As their revenue increases, the circle completes itself. The company continues its good corporate culture, and keeps the money coming in.
Which means if you are unhappy with the way you are treated in a clothing store, movie theatre, restaurant, hotel, etc., definitely speak to a manager, make a complaint, tell a friend and most importantly, don't spend another dime with that company.
IF YOURE HAPPY AND YOU KNOW IT, TWEET
However, if you are happy with a company, were treated well at their establishment, and had a good time, also make your opinions known. Tweet about it. Post a positive review on Yelp. "Like" the company on FaceBook. Grab a manager and shake his hand. Return and bring friends. This positive attention does help the bottom line of good companies, one customer at a time.
PUT YOUR MONEY WHERE IT TASTES GOOD
So when you hear that Timbs won't market to urban areas, but Tommy Hilfiger hopes everyone buys his clothing, pay attention and shop accordingly. When you read that Home Depot uses sustainable sources for its wood, consider them for your next home improvement project. Or go there to get your keys cut or buy your Christmas tree. When Howard Schultz, CEO of Starbucks issues a statement on his blog asking people not to bring their guns into his stores, even in 'open carry' states, so that everyone can feel comfortable while sipping their latte, go in there and buy a mug or something. Every little bit does help.
And who knows, your support may help the good companies, those who treat customers with respect and dignity, outearn and outnumber the ones who unfortunately don't understand that the color of money is green.
Let's Be Careful Out There
Saturday, September 28, 2013
Monday, September 16, 2013
PAYROLL CARDS: CONVENIENCE OR JUST A CON?
Payroll Cards are a way for employers to pay their employees electronically by debit card. The employee is able to use the card for purchases without having to cash a paper check. The employee has an option to be paid electronically without opening a bank account
However, there have been recent complaints about the payroll card system. Many of the payroll cards charge fees for cash withdrawals and even for checking balances. These problems have come to the attention of the federal government in the form of a class action lawsuit brought against McDonalds in Pennsylvania this past June.
STATEMENT FROM THE FED
On September 12th, 2013, the Consumer Financial Protection Bureau released a warning/ bulletin reminding employers of the federal law under the Electronic Funds Transfer Act (the law that covers credit card transactions). Under federal law, employees with payroll cards must be given an option to be paid a different way. If the employee chooses the payroll card, s/he must be notified of all the fees and penalties and must be provided with balance and account information. Additionally, the employee must be afforded limited liability if the card is lost or stolen, or there is an account error, so long as the employee reports the loss, theft or error promptly.
LOW PAY, HIGH FEES
Most of the problems with payroll cards occur in the retail, food and restaurant industries. These industries have many youth workers, low paid workers and workers without bank accounts. When check cashing, balance inquiry and cash withdrawal fees are charged, there are very few funds left for household essentials. You may be getting paid a decent hourly wage. But after the fees are deducted, you may be getting paid the equivalent of minimum wage.
INFORM YOURSELF
I've written a previous article about why people should consider opening an account at a bank, credit union or internet bank: The B Word: Bank. I also give tips on what to do if you've been prevented from opening an account due to past bounced check issues. However, if you are unable or unwilling to open a bank account, make sure that you make an informed decision about how you receive your pay. Even though I am not in favor of check cashing establishments, these establishments charge a one time fee when you cash your check, as opposed to multiple fees as you use your payroll card. If you do opt to receive your pay through a payroll card, make sure your employer provides you with all the information on fees and penalties so that you can receive as much of your hard earned funds as possible.
Let's Be Careful Out There
However, there have been recent complaints about the payroll card system. Many of the payroll cards charge fees for cash withdrawals and even for checking balances. These problems have come to the attention of the federal government in the form of a class action lawsuit brought against McDonalds in Pennsylvania this past June.
STATEMENT FROM THE FED
On September 12th, 2013, the Consumer Financial Protection Bureau released a warning/ bulletin reminding employers of the federal law under the Electronic Funds Transfer Act (the law that covers credit card transactions). Under federal law, employees with payroll cards must be given an option to be paid a different way. If the employee chooses the payroll card, s/he must be notified of all the fees and penalties and must be provided with balance and account information. Additionally, the employee must be afforded limited liability if the card is lost or stolen, or there is an account error, so long as the employee reports the loss, theft or error promptly.
LOW PAY, HIGH FEES
Most of the problems with payroll cards occur in the retail, food and restaurant industries. These industries have many youth workers, low paid workers and workers without bank accounts. When check cashing, balance inquiry and cash withdrawal fees are charged, there are very few funds left for household essentials. You may be getting paid a decent hourly wage. But after the fees are deducted, you may be getting paid the equivalent of minimum wage.
INFORM YOURSELF
I've written a previous article about why people should consider opening an account at a bank, credit union or internet bank: The B Word: Bank. I also give tips on what to do if you've been prevented from opening an account due to past bounced check issues. However, if you are unable or unwilling to open a bank account, make sure that you make an informed decision about how you receive your pay. Even though I am not in favor of check cashing establishments, these establishments charge a one time fee when you cash your check, as opposed to multiple fees as you use your payroll card. If you do opt to receive your pay through a payroll card, make sure your employer provides you with all the information on fees and penalties so that you can receive as much of your hard earned funds as possible.
Let's Be Careful Out There
Wednesday, September 11, 2013
WHERE THERE'S A WILL, THERE'S A WAY
Writing your will. You may be reluctant to do so. Very reluctant. Maybe you don't feel you have enough money or things to fight over after you're gone. Maybe superstition is holding you back, In the back of you mind, you feel that talking about death will bring it about faster. Maybe since you cant take it with you, you're not concerned about it.
However, a will is a very important document for you to draft. This document makes your wishes known, in writing and can be changed by you right up until you pass away. You've heard all the reasons why you shouldn't draft a will. Here are some reasons why you should.
GOOD FOR YOU, GOOD FOR YOUR FAMILY
As I mentioned before, a will outlines your wishes in writing. You should also speak to your family directly about your final arrangements. But putting it in writing will shut down misunderstandings, confusion and misdirection between family members after you pass away. You can protect vulnerable, less vocal and underage family members who may not be able to argue and grieve at the same time.
Your will should be drafted with a legal professional and witnessed (signed) by two uninterested parties. You should keep a copy in a safe place, but not anywhere your family will need a court order to open.
Your final funeral arrangements should be kept separately. Your family will have to go through Probate Court to settle your will. But your final arrangements (funeral home, services, burial) must happen much earlier, so instructions on your funeral service should be stored separately.
Also, be sure to include all close family members in your will (children, spouses, etc), even it you don't like them or haven't seen them in a long time. Family members who are completely left out of a will can contest (dispute) the validity of the will, and question your competence when you wrote it. Speak to your legal professional about how to include a mention of long lost or missing close relatives.
When you are leaving real property (house, condo, land), you may want to leave it to as few people as possible. When multiple people each become part owner of a piece of property, it becomes very difficult to sell, renovate or make decisions about the property. Leave your property to one or two good decision makers who you trust will do the right thing with the property.
WHEN YOU DONT WRITE A WILL
If you do not make your final wishes known in writing, State law will determine how your property will be distributed. Spouses and children are included, as well as some debtors. Your remaining family members will have to appoint a personal administrator and create an estate document through the Probate Courts before any of your property is distributed. This can take a few months, which may not the most desirable outcome.
OTHER IMPORTANT DOCUMENTS YOU MAY WANT TO CONSIDER
If you suffer illness or incapacitation, you may want a trusted family member to speak on your behalf concerning your finances or your medical treatment. There are a few documents that can help in this regard.
Living Will or Health Care Directive
This document outlines what type of health care you would like to receive in certain serious medical situations.
Health Care Proxy
This document gives another person permission to speak for you when you need medical care and are unable to speak for yourself.
Power of Attorney
This document can be used for health related treatment, but its usually used for financial concerns. This document gives another person permission to conduct financial business on your behalf, such as paying your bills, handling your bank accounts, etc. The "power" can begin as soon as you sign the document, or when a certain event occurs (ie, when you become incapacitated)
You can change all of these estate documents right up until you pass away. You are not locked in to anything. You should consult with a legal professional in your state while drafting these documents because the laws are slightly different from state to state. But the general idea is to make your wishes known and to provide clear direction to remaining family members so there is less confusion after you pass away.
TELL HER (OR HIM) ABOUT IT
Putting your final wishes in writing is very important for the reasons stated above. But make sure you speak to your family and healthcare professionals about your final finances, your health care and your funeral arrangements. Again, you want to avoid any nasty surprises, bullying or hospital room brawls.
YOU REALLY CANT TAKE IT WITH YOU
There are other ways to distribute your property and assets. Trusts and Insurance policy payments are usually distributed to the beneficiary upon proof of the death of the principal. A certified copy of the death certificate is needed as proof.
But the best way to distribute your property and assets, is to gift it before you pass away. This way, you can see for yourself that the person has received what you intended for them to receive. If you're lucky, you may even be able to experience the gratitude from that friend or family member while you are still on this side.
Let's Be Careful Out There!
However, a will is a very important document for you to draft. This document makes your wishes known, in writing and can be changed by you right up until you pass away. You've heard all the reasons why you shouldn't draft a will. Here are some reasons why you should.
GOOD FOR YOU, GOOD FOR YOUR FAMILY
As I mentioned before, a will outlines your wishes in writing. You should also speak to your family directly about your final arrangements. But putting it in writing will shut down misunderstandings, confusion and misdirection between family members after you pass away. You can protect vulnerable, less vocal and underage family members who may not be able to argue and grieve at the same time.
Your will should be drafted with a legal professional and witnessed (signed) by two uninterested parties. You should keep a copy in a safe place, but not anywhere your family will need a court order to open.
Your final funeral arrangements should be kept separately. Your family will have to go through Probate Court to settle your will. But your final arrangements (funeral home, services, burial) must happen much earlier, so instructions on your funeral service should be stored separately.
Also, be sure to include all close family members in your will (children, spouses, etc), even it you don't like them or haven't seen them in a long time. Family members who are completely left out of a will can contest (dispute) the validity of the will, and question your competence when you wrote it. Speak to your legal professional about how to include a mention of long lost or missing close relatives.
When you are leaving real property (house, condo, land), you may want to leave it to as few people as possible. When multiple people each become part owner of a piece of property, it becomes very difficult to sell, renovate or make decisions about the property. Leave your property to one or two good decision makers who you trust will do the right thing with the property.
WHEN YOU DONT WRITE A WILL
If you do not make your final wishes known in writing, State law will determine how your property will be distributed. Spouses and children are included, as well as some debtors. Your remaining family members will have to appoint a personal administrator and create an estate document through the Probate Courts before any of your property is distributed. This can take a few months, which may not the most desirable outcome.
OTHER IMPORTANT DOCUMENTS YOU MAY WANT TO CONSIDER
If you suffer illness or incapacitation, you may want a trusted family member to speak on your behalf concerning your finances or your medical treatment. There are a few documents that can help in this regard.
Living Will or Health Care Directive
This document outlines what type of health care you would like to receive in certain serious medical situations.
Health Care Proxy
This document gives another person permission to speak for you when you need medical care and are unable to speak for yourself.
Power of Attorney
This document can be used for health related treatment, but its usually used for financial concerns. This document gives another person permission to conduct financial business on your behalf, such as paying your bills, handling your bank accounts, etc. The "power" can begin as soon as you sign the document, or when a certain event occurs (ie, when you become incapacitated)
You can change all of these estate documents right up until you pass away. You are not locked in to anything. You should consult with a legal professional in your state while drafting these documents because the laws are slightly different from state to state. But the general idea is to make your wishes known and to provide clear direction to remaining family members so there is less confusion after you pass away.
TELL HER (OR HIM) ABOUT IT
Putting your final wishes in writing is very important for the reasons stated above. But make sure you speak to your family and healthcare professionals about your final finances, your health care and your funeral arrangements. Again, you want to avoid any nasty surprises, bullying or hospital room brawls.
YOU REALLY CANT TAKE IT WITH YOU
There are other ways to distribute your property and assets. Trusts and Insurance policy payments are usually distributed to the beneficiary upon proof of the death of the principal. A certified copy of the death certificate is needed as proof.
But the best way to distribute your property and assets, is to gift it before you pass away. This way, you can see for yourself that the person has received what you intended for them to receive. If you're lucky, you may even be able to experience the gratitude from that friend or family member while you are still on this side.
Let's Be Careful Out There!
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