A Long Day With Great Takeaways

Not a slide you usually see at a corporate event!

As I alluded to a couple of days ago, I spent the first part of this week away from my family on a business trip. I don’t travel much during the year but the spring usually brings about at least a couple of flights to various parts of the country with the most recent airport jaunt bringing me to Austin, Texas. And while there were many meetings during my day and a half in this interesting town, there are a couple of presentations that really made me think about some of the topic that I routinely encounter every day… money and public relations.

The first presentation that I attended was the keynote for the event by Peter, Lord of the Skies, Shankman. Over the years I have heard various opinions about this person from a plethora of people throughout our common industry. Some of those thoughts have been less than favorable while other endorsements have been, to put it mildly, glowing. Personally, I have had only the occasional correspondence with him over the years going back to the early days of HARO, so I never was really able to form any sort of strong opinion.

However, having now been present for one of his presentations I must, at the very least, give him a tremendous amount of credit for his ability to deliver a concise and easily digestible message. When it comes to PR, marketing, branding, and customer service there are great presentations and there are lectures that have you looking for the door, or the bar, about ten minutes into the talk. He was definitely in the former category. In fact, I can relate to much of what he said including the simple mantra to brand everything… I guess you could say that this blog goes a long way in achieving that goal. The other simple lesson gleaned from his ADOS style was that there is always a means to accomplish your goals as long as you are willing to put forth the effort and make time work for you.

The second session during the event that has left me with lingering thoughts was toward the end of the day when David Wolman, Contributing Editor of Wired, who spoke about “The End of Money”. His book by the same title is one that I will certainly have to pick up some time soon but the presentation was definitely enough to get me thinking. While the main impetus for this exploration was the simple fact that is costs the US government more to produce certain denominations of currency than the actual face value of that same coin, the historic as well as present perceptions of currency where a fascinating juxtaposition to the commonly accepted norms of money.

This immediately had me thinking about the value that information and access to information has in today’s society… a return to a norm not seen in nearly a hundred years. Also, given the publication for which he writes, another topic that kept forcing its way to the forefront of my mind is the simple irony that a publication named “Wired” focuses more on wireless and mobile rather than actually wired technology. I know, random thought.

Both Shankman and Wolman proved to be very engaging both from the stage and when I spoke with them one on one after the spotlights had dimmed. However, more importantly, they were engaging to a wide array of people in the audience and also provided me with many thoughts to process, posts to write, and projects to start. It was a long day on a short trip but one that was definitely successful and productive both personally and professionally. Don’t know if I could have asked to accomplish much more… well, a few more hours of sleep would have been nice and having my family with me would have been great.

I really had an early flight home.

No More Fees For You!

Over the years I have had accounts at a variety of banks. For one reason or another, I have also changed banks numerous times. Usually it was because of location or the simple fact that it was bought out by one of the larger financial institutions. In the past it was never much of an issue as I didn’t have many automatic payments and I didn’t write too many checks. However, things change and I am now in the process of shifting things over once again.

While the hours at TD Bank have always been very convenient and the sheer size of the company assures that there is always a location just around the corner, the benefits pretty much stop there. Over the past couple of years I have watched as the various fees have been scattered throughout my monthly statements. I always pay bills on time but ATM and ‘Balance Inquiry’ fees have been a source of annoyance. I sometimes wonder what the account balance would be if those $2 and $3 fees over the past several years where returned. Actually, I really don’t want to know.

In addition to this, the speed at which transactions are processed is about as fast as a constipated turtle. Having already transferred most of our funds to another bank, I can say with certainty that this is not the normal pace at which a bank should be operating. A perfect example is when, some time ago, I transferred my credit card balance to another bank and while I know this other bank sent the electronic payment and posted it to the other account, it still took TD Bank nearly two weeks before confirming the transaction and reflecting that on my statement.

I am done with this particular company. Heck, this bank wasn’t my choice anyway as I originally had an account with Commerce Bank. So now I am taking my funds, as limited as they may be, and moving them to a local bank. While there hours and locations may not be as convenient, the service and speed thus far is something that we haven’t experienced in the past. When we have a question there is always someone there to answer it, transactions are posted within a day, and the fees have magically disappeared replaced by an interest bearing checking account. It is a bank that choses to deal with their customers not solely the accounts associated with them. It is nice to be a person again… a welcomed change… only the latest of a year full of changes.

TMI Tuesday: Blasting The Baby Monitor

When we first starting putting the baby registry together last year one of the things that we made sure to put on there was a monitor. Rather than going with the usual ones, we wanted to upgrade a little bit and get the video monitor for no other reason than we felt more comfortable being able to see our son and not just hear him. So far, that has been the primary use of the camera (especially when he is eerily quiet in his sleep) but it has also been a great source of entertainment at times.

There have been many nights when our son has had trouble sleeping or getting to sleep. Being able to see him has allowed us to take preemptive action during those times. While he may not be screaming yet, we know the restlessness that comes before the ear piercing. We both hate to hear our son cry and preventing that from happening by calming his flailing legs has been a great way to avoid those moments.

Sometimes there are moments, especially after a long and/or tiring day, when we just want to see him. It is calming to watch our son sleep but sometimes we don’t want to risk stepping on that one squeaking floorboard and waking him up. The camera has afforded us the best of both worlds by watching him dreaming peacefully without the risk of disturbing those restful moments for him.

And then there are the entertaining times. Whenever we hear him rustling in his crib we turn on the video. Sometimes, as mentioned above, we need to climb up the stairs and settle him. Other times we know what is about to happen. It can be just as loud as those aforementioned screams and they are much stinker as well. Those are the times when we know he is about to let his colon calm him.

It usually starts with the legs high in the air as if he is practicing some odd form of flatulent yoga. Keep in mind that we are watching this from the foot of the crib (maybe the funniest of all the possible angles). This is followed by a little shimmy. This can happen several times depending on the intensity of the end result. Once everything is primed the fuse is lit and the explosion vibrates the crib. I guess you could say that it is a brief moment of satisfying wakefulness for our baby. Once the dust settles he turns his head to the side and falls right back into a deep and restful sleep. At this point we just hope our laughing isn’t so loud that it will wake him up.

So there are many uses that we have gotten out of the video monitor. Some are very practical and have been beneficial since we brought our son home in the winter. Of course, there are also the other times when it has just been a great source of laughter.  

Where Did All Of Our Money Go?

Every couple of weeks I look at my pay stub and go through the growing list of deductions from my pay… taxes, 401K, and healthcare. Taxes have always been relatively consistent (too high and annoying but consistent), the 401K contribution is something that I set (this I hope to increase in the future), and the healthcare costs have gone up over time according to how many people are covered under my plan which now covers my whole family. However, it is this last significant deduction from my pay that is really annoying. Not because of the direct costs outlined in the deduction but because of the high costs that my wife and I have encountered recently.

For years, every month we have encountered a co-pay in one form or another, office or pharmacy, that is in addition to the insurance premium that we have already paid for that month. Over the past year, those required payments have become more frequently as we have had more doctor visits and prescriptions that needed to be filled. However, these last few months have been atrocious and it really makes you wonder where the money is going. Since our son was born, we have sent out checks for approximately $2500 just to cover the astronomical co-pays. I have seen enough doctors during my life that I have gotten used to the various expenses associated with healthcare but this is simply ridiculous.

I can hear some of you now saying this is why we need Obamacare. Well, in my experience, that is a load of crap! While the delusional utopian concept is intriguing to many it is not something that fits into the confines of reality. This is why we have seen those premiums increase faster since the bill was signed than at any other point in history. Additionally, due to the ridiculous requirements therein, not only have the premiums gone up but the co-pays have seen a sharp increase as well.

Of course, there is also the basic employment fallout. I know for a fact that many employers have set limits on hours simply to avoid having to offer healthcare benefits. Frankly, I have no problem with employers not offering benefits to full time employees so long as said employees understand that they will not be offered. So, instead of someone getting paid for 35-40 hours per week, they are limited to 29.5 hours per week. In the end, they still aren’t getting benefits and now have less money in their pockets.

Furthermore, there are some benefits that were being offered to those who worked 30 or more hours per week. A perfect example that I have seen is that of extended leave. However, because hours are now eliminated that benefit disappears as well. So not only are you getting paid less at the end of the week but you are also losing some of the benefits that you once had. An when you go back to the original gripe in this post, you are also going to pay more for insurance and more in co-pays. You couldn’t afford to get sick before and you still can’t afford it now. Thanks Obamacare!

Maybe we should focus on making sure people can have jobs where they can work full time hours. Maybe we should stop regulating and forcing coverage on people and stop strong arming companies to cover employees. Maybe we should address the high premiums and co-pays that have become the accepted norm in this country. Maybe we should provide a true freedom to choose to have coverage and what coverage to have, whether someone is willing to take a job without healthcare benefits, and whether an employer offers healthcare benefits. Maybe this is the change that we really need!

Investing Again

When I started at my current company there were many things that were discussed. The firm was newly formed when I first walked through the door in September 2013. In fact, the owner of the company was still waiting for the cable company to arrive later that afternoon to set up the internet. It was an interesting experience and much different from the previous conversation I had with her.

It was during that initial discussion when we talked about the clients, my role in the company, and many of the other benefits that would be part of my employment including healthcare, profit sharing, and a 401K (among others). Every salary position I have ever had, and then some, have offered healthcare so that was not a surprise to me. However the other two piqued my interest and were really bonuses to the position that I was not expecting.

Since that time over a year and a half ago, she has been true to her word. While none of us expected any sort of profit sharing at the end of 2013 we weren’t really holding out for 2014 either. After all, we are a new company. However, we were all pleasantly surprised at the end of the year when we each received an extra deposit into our accounts (which was particularly useful at that point in time).

Toward the end of last year we also continued our conversations regarding setting up a 401K. It had taken some time but things were progressing and as the calendar turned over we all started contributing to the future. While we don’t have much extra at the moment, I started with a small contribution from each pay check.

While I have had investment accounts in the past, this was my first time having a 401K. Previous accounts have long since been liquidated to pay for graduate school and other expenses. Many would consider this a tremendous loss but given the fact that I finished graduate school in the spring of 2008, it wasn’t a bad way to use the funds.

Since that time, my ‘investments’ have been on a much smaller scale and consisting of hard assets. I honestly can’t recall how many times I bought silver (and a tiny bit of gold) over the past decade but it is safe to say that I didn’t lose money or break even. A coin here and there can add up especially before the market shifted and the prices began to spike.

All the small items were nice and served a purpose when we needed that little extra. Now, it is a great feeling to be contributing to our future even though it may be one small deduction from my pay every couple of weeks. It may not seem much at the moment, it never does, but it will certainly add up in the end (especially when I start decreasing my take home pay). And it sure beats flipping coins.

I Finally Got A New Phone…

For the last 5 years I have been relying on the iPhone to be my mobile office. There were only a handful of times when it didn’t hold up in this application so I can’t say that, overall, there is anything wrong with the iPhone as a whole. However, lately there have been a few issues that have become more prominent as the battery life has become shorter and shorter and the speed of the phone has been anything but fast at times. Having become eligible for an upgrade, I had an important decision to make as to whether I should stay with Apple or to cut the cord and move on to another company and operating system. That was the basis of my question last weekend.

So, what did I decide to do?

After considering what I really needed the phone to do during the day I made the decision to go a different direction and pick up the Nokia Lumia 635. That’s right, this past week I hopped off the iPhone bandwagon and joined my wife in using a Windows based smartphone. While I am not a fan of Windows 8 on a laptop, it makes a lot of sense on a mobile device.

Having been using it for a few days, I am pretty impressed with the functionality of this phone especially considering that the MSRP is about a quarter of that of the iPhone 5s which I was also considering ($140 vs $550). Especially convenient is the fact that the battery, with fairly regular use while I have been trying to figure out the functionality, lasts for about a day and a half. And while it may not have the same apps that are available from Apple, I can’t say that I am missing anything. In fact, some of the comparable on the Windows are actually better than the iPhone.

It has been interesting so far in that more people have asked me about this phone in just a few days than had asked me about my iPhone in the last 5 years. I guess people are just curious when someone doesn’t buy an Apple or Android based product. Of course, this is my initial experience with the phone.

There may be some things that I don’t like that will come up and there are certain operations that will exceed my expectations once I create a Microsoft account and gain full access to the entire suite of operations. With that said, having played a bit with my wife’s phone already, I am looking forward to the benefits and not expecting many shortcomings beyond simply learning a new operating system. Only time and use will really tell and I will be sure to write about the experience at a later date.

Friends With Benefits

When trying to keep a budget and cut costs there is a small group of friends that are always there to help me out… membership cards and coupon. Whether its groceries or office supplies, oil changes or admission fees, I am always looking for ways to reduce the price of items and services. Sometimes I am able to save a little, sometimes I save a lot, and occasionally I can either get something for free or make money purchasing it.

No, I am not one of those extreme coupon people on TLC although I do get a kick out of watch that show. I simply take about 20 minutes each week and go through the circulars, mailings, and emails that I get, clip or copy them, and put them in an envelope. That’s it. It doesn’t take much effort at all and that basic process, combined with the free membership cards, usually averages about a thirty percent savings at the super market every week.

Over the course of the year, with regard to total dollars, that is the most significant chunk of my savings. However, there are other areas where I can save a significant amount at a much higher percentage. The most common of which are office supplies. Thanks to Staples, I am able to save anywhere between 50-75% on anything ranging from printers to paper to bottled water. This is also the place where they have paid me to buy supplies.

Again, this is very simple and requires minimal effort. What usually happens is that they will promote a 100% rebate offer for a product (most recently it happened to be 4x6 photo paper). So, if you are willing to wait a month for reimbursement they will essentially give you the product for free and credit your rewards account for the purchase. But you can take it a step further. By utilizing a coupon that takes a percentage off your total purchase (rebate items are not sale items so they are not exempt) you can essentially get a rebate back for more than you paid for the product.

Of course, as I have previously written about, sometimes I come across free items and free contests. If it’s free, and I don’t have to set aside time to do it, I am definitely interested. No time, money, or effort is a great, and rare, combination.

The other side to this cost saving equation is where some effort is definitely required. Usually, this is when you are looking for a specific item or brand and you have to shop around to find the best price. There is a simple way to ensure success: know the price match policies. You can look around and think you found the best price but, sometimes, you may forget to check a certain store or maybe that item goes on sale the following week. It’s a great safety net that can put money back into your pocket.

One last thing to remember is that while the savings on any given day or on any particular item may not seem like much it really adds up. Keep track, a rough estimate is fine, on how much money is left in your pocket by taking the time to pay attention to prices and using the system to your advantage. You would be surprised how quickly the dollars add up by simply investing a little effort and even less time. Or think about it this way… how much are you saving during an average week? How much time are you putting into this? With those two figures in hand, what is the hourly rate you are getting paid?

Let me, and all who happen to read this, know of your experiences. How do you save money? Where do you find the best deals? What is the best deal you have ever gotten on an item?