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MONTHLY PRINTED NEWSLETTER
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In this issue:
Introduction
Holiday Stress Busters
by Dr. Donald E. Wetmore
Canceling Credit
by Gary Foreman
Give "Timely" Gifts
by Nancy Twigg
Watch Those Hospital Bills
by Sharon Powell
Tips, Quips, Quotes & Questions
Dollar Stretcher Website This Week
Introduction
by Gary Foreman
gary@stretcher.com
Hello to all my Frugal Friends!
If the size of my Sunday paper is any indication, the holiday buying season is in full swing. Don't know about you, but I don't like the mall in December. Driving in circles looking for a parking space isn't my idea of holiday cheer! Well, here's a solution that could save you some time and make you a couple of dollars, too.
We've worked out a very special arrangement with our friends at CashBackClub.com. We've mentioned them before. When you shop through CashBackClub.com, you will get cash back from nearly 350 name brand merchants - even on sale and clearance items! And it doesn't cost you a dime. My kinda deal.
If you're planning on doing any of your holiday shopping online, you owe it to yourself to check this out. You'll be buying from the exact same merchants that you'll find at the CashBackClub. Many of these Merchants are now offering free shipping through the holidays.
Here's the kicker. Each person who joins CashBackClub.com through our link will receive $10 free in their account. So why not get $10 plus a special discount when you shop? So visit www.CashBackClub.com/affiliate/stretcher before you head for the mall. Let's face it, even if you have to fight your kids for the PC, it's still the shortest line you'll find before the holidays!
All the Best!
Gary
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Holiday Stress Busters
by Dr. Donald E. Wetmore
The holidays are a time for great joy for some, and a time of stress and frustration for others. None of us should be denied the joys of the holiday season and so I have put together the following seven suggestions to help you "bust" the holiday stress and enjoy this time more.
1. Plan ahead. We know well in advance, (like a year before), that the holidays will require a lot more of our time for special preparations in addition to our regular routines and responsibilities. However, many of us get caught short, in crisis management, running around at the "eleventh hour", trying to get the last minute stuff done, feeling a bit (or a lot) stressed out. The solution is to plan ahead and schedule these tasks and events with greater care. It always seems to get done sooner or later. Why not sooner, at your pace, without so much of the hassle?
2. Delegate. There is a lot of difference between "I do it" and "It gets done". Which is more important to you? I hope, "It gets done". Sure it's fun to "do it all", but that may be an impractical goal that only serves to frazzle and stress you out. Share the shopping, cooking, cleaning, etc. responsibilities with others. You don't have to "do it all" yourself. It would be nice if we could, but there is only so much time. And people generally appreciate the opportunity to participate in the preparations. "You don't always do for someone when you always do for someone."
3. Get enough sleep. During the holidays, with all there is to do, the parties, the preparations, the shopping, the wrapping, and the cooking, it is easy to pay for the additional time required with our sleep time. The problem for many is that when they don't get enough sleep, they get cranky and don't enjoy what they are doing as much. Not only that, they may not exactly be a pleasure to be around! Each of us has a different sleep level that we require to feel rested. Especially during the busy holiday period, take the time for adequate sleep so that you have the energy to get into the full swing of things and enjoy it as it happens.
4. Don't overindulge. Anything in moderation. The holidays are a time when it is easy to overindulge in what we eat and drink. The problem is, we pay for it later and sometimes sooner. A little advanced planning might help as well. For example, let's say you know that you always accumulate an additional five pounds over the holidays. Make it a point to drop five pounds before the holiday season. Many find it is easier and less stressful to lose that additional weight before, rather than after, the holidays.
5. Set a financial budget and stick to it. We tend to want to be generous and when shopping, it is easy to fall prey to "impulse buying" and "go all out" with the credit cards. Then, we experience the "post holiday blues", when the bills arrive in January. Plan what you will spend before you go to the stores, when you are rational, and then stick to those budget amounts when you are in the stores, when you are more emotional.
6. Don't overload this time period. KISS. "Keep it Simple." This is not the last holiday period you will enjoy. You can' t do everything but you can do and enjoy the most important things. Sure you will do more now than at other times during the year. Have a grand time, a memorable holiday season. Just don't try to "do it all". Save something for next year.
7. Enjoy the journey, not just the destination. Don't "dread" any part of it, the shopping, the wrapping, the cooking, the cleaning, etc. Find happiness in all of it. Enjoy it all. Some place all their eggs in one basket. If all the celebration and the joy are scheduled for that one night, perhaps Christmas Eve, what happens if it's a disappointment? The whole season is a bust. Enjoy all the stuff leading up to the "big night" and enhance the quality and your level of enjoyment of the entire season.
Don Wetmore is a full-time Professional Speaker, specializing in the topic of Time Management. He has another article that might be helpful to you, entitled, "Stabilize Stress". It's free. To get yours now, email your request for "stabilize" to: ctsem@msn.com
Would you like to receive free Timely Time Management Tips on a regular basis to increase your personal productivity and get more out of every day? Sign up now for our free "TIMELY TIME MANAGEMENT TIPS". Just go to: www.topica.com/lists/timemanagement and select "subscribe". We welcome you aboard!
Canceling Credit
by Gary Foreman
Dear Gary,
I want to reduce the available credit on some credit cards and also cancel other credit cards. What do I say when writing to the creditor that will cancel the credit card and leave favorable information on my credit report? How do I reduce my available credit line and look good to the credit reporting companies?
Jonnie
Jonnie's on the right track. Keeping your available credit to a reasonable level is a good idea. The days when a wallet full of credit cards indicated good credit are over. Today lenders use a formula that includes how much credit you have available for use.
If you apply for a home mortgage or auto loan the lender is going to add up all the available credit that you have and compare that to your income level. They don't want you to buy a car today and then charge a bunch of stuff later. That makes it more likely that you'd have trouble making the car payments.
What the potential lender thinks of your credit affects how much you'll pay in interest. The better your credit report, the lower the rate they'll offer.
One way to look better to lenders is to close unused credit card accounts. That's what Jonnie is doing. But it's important to do the job properly.
An account is not closed just because the card is collecting dust in the bottom of your purse and hasn't been used in years. You must notify the card issuer and specifically tell them that you want to close the account. In many cases you can do that by calling the customer service number on your card or monthly statement. You can also mail your request to them. Use the address provided on your statement.
One interesting thing to note is that you can close an account while it still has a balance. You'd stop using that card but would continue to pay on any balance remaining until the entire amount is paid.
You don't need to give the card issuer a reason for closing the account. It's your right to choose not to do any more business with them. They may offer a lower rate if you stay. And, if that's attractive, you can leave the account open. But in Jonnie's case a lower rate wouldn't help her reach the goal of reducing her available credit.
Once the account is closed you need to make sure that the credit report notes that the account was "Closed by Customer". That means that you asked to have the account closed, not the credit card company. Generally when the card issuer closes an account it's because the customer isn't a good credit risk any more. You don't want to leave that impression.
Closing an account does not remove it from your credit report. It will remain for seven years. You do not have the right to have the closed account removed from your report.
There was a time when having closed accounts did make it harder to get credit. But customer closed accounts are much more frequent now. With everyone searching for lower rates, lenders expect to see a number of closed accounts. Many no longer even consider the number of closed accounts in the formula that they use to rate potential customers.
While we're on the subject, we should note that the card issuer can also close the account whenever they want to. Even if you've never been late with a payment. The reason is simple. The law isn't going to force them to do business that's not profitable for them. In some cases people who always pay their entire bill are being cancelled just because the bank isn't making money on them.
Jonnie also has the option of contacting the creditors and asking them to lower her available credit limit but leave the account open. If you've been good about making payments, many card issuers will automatically increase your limit anytime you approach it. You don't have to accept the increase. You can ask them to lower the limit and they will honor your request.
Once Jonnie has contacted her creditors she should wait a few weeks and then check to make sure that her instructions were followed. To do that she'll need to get a copy of her credit report. It's a good idea to get a copy at least once a year anyway.
Unless you've been denied credit (and hopefully that's not the case) you will need to pay for it. The cost is generally $8.50. There are three large credit rating companies. You can contact them at: Equifax 800-685-1111; Experian National Consumer Assistance Center(Formerly TRW)800-682-7654; or TransUnion 800-888-4213.
Jonnie is being wise in managing her credit. It's an asset just like your checking account or retirement plan. A little effort now could reward her with lower interest payments on a home or auto loan.
Gary Foreman is a former Certified Financial Planner who currently edits The Dollar Stretcher website www.stretcher.com You'll find hundreds of free articles to help stretch your day and your budget. Visit today!
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Great Gifts
Give "Timely" Gifts
by Nancy Twigg
In today's hustle and bustle world, our time is almost more precious to us than our money. Like money, there never seems to be enough of it to go around. But unlike money that can be replaced if stolen or squandered, lost time is gone forever.
That's why it is so meaningful when you give someone the gift of your time. First, it shows that you care enough to sacrifice one of your most valuable commodities. Many people would much rather give up some of their money than to sacrifice some of their precious free time
Additionally, it takes creativity to come up with a "timely" gift the recipient will appreciate. Unlike store-bought presents, gifts that involve your time are not duplicable. Giving "timely" gifts also shows your practicality and sensitivity to the person's needs.
For those who have more extra time than extra cash, giving "timely" gifts is a great way to show you care without overspending. Here are some points to ponder as you come up with a "timely" gift ideas for people you know:
Is there a time-consuming task I could offer to do that would give him/her a welcomed break? How much fun is doing laundry, cleaning the house, or cutting the grass? Who wouldn't love a break from these mundane but necessary tasks?
Is there a service he or she usually pays for that I could offer to perform as a gift? Help him or her save money by offering to give her a permanent, clean the carpets, or change his oil as your gift.
Is there something he or she needs to do but cannot do alone? Offer to help out with a task that seems too big for one person. Examples might be cleaning out the garage, landscaping or hanging wallpaper.
Is there a way to combine my time and my talent to create a meaningful gift? Here's just one example. Are you a great cook? Cook up a special meal and then bring it to the recipients' house. Set the table, light the candles and then vamoose so they can enjoy a candlelit dinner for two.
Will the special occasion bring with it some special needs that I could meet? Take for example the birth of a baby. Why not offer to keep the couple's other children during the delivery? Or how about cooking and freezing a week 's worth of meals so the family can eat well while the new mom is recovering?
Would this person enjoy a block of uninterrupted, personalized attention? If the recipient doesn't drive, take her out for lunch and an afternoon of window-shopping. For a child, offer to take him out for a picnic and an afternoon in the park.
Nancy Twigg is a stay-at-home first-time mom-to-be from Knoxville, TN. She is also the editor of Counting the Cost, an e-zine dedicated to everyday abundant living at its best. To subscribe to Counting the Cost, send a blank e-mail to countingthecost-subscribe@topica.com or visit Nancy online at www.countingthecost.com and sign-up for the newsletter there.
Watch Those Hospital Bills
by Sharon Powell
When is a $10 teddy bear, not a teddy bear? When it is a $60 "cough support device". Yes, that is turning up on some adult patients' hospital bills. You think that because of all those investigative reporters out there, that hospitals no longer pad bills? Not so. While I'm sure there are some honest hospitals out there, there are still $10 boxes of tissues (mucus recovery systems) and $18 trash bags (gauze collection bags) being put on bills. According to Equifax, the average hospital patient overpays by $1,300. Recently MSNBC ran a wonderful article by Pat Palmer, author of "The Medical Bill Survival Guide", and founder of Medical Billing Advocates of America. For the full text of the article, go to: www.msnbc.com/news/470229.asp.
You should always ask for a detailed bill, and should always check it. You also might want to order a copy of the author's book What You Need to Know Before You Pay a Dime" for $6.29 or check to see if your library has a copy. In the book she lists organizations that will check the bill for you. To get info on people in your area who can help you, you can also go to the web site of Medical Billing Advocates of America at www.billadvocates.com or call them at (540)387-5870. If the company recovers anything for you, most keep 50% or less of the recovered amount. Usually if they recover nothing, they charge nothing. And as a former insurance clerk for a doctor's office, I advise you to always re-file denied claims, or claims that are not paid in full. Ask your company to consider them for additional payment. In the majority of cases I handled, they did end up paying more than the original settlement. Never hurts to ask. POST IT...with your insurance card/papers.
Sharon Powell is the editor of Make-a-Note, a free newsletter filled with tips and ideas to make your life better. To subscribe send a blank email to: subscribe-make-a-note@xc.org
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Tips, Quips, Quotes and Questions
Inefficient, Older Home
I'm an energy auditor in Needles, California and would like to give a few tips that might help. Yes, old appliances do use more electric so make sure the coils on the refrigeration are free of any dirt and dust. Check with your utilities to find out if they offer "blower door" whole house evaluation. Basically it de-pressurizes the house to locate leaks. If you could image a 3'x3' hole in an exterior wall, that could equal all the small leaks combined in a home. If you can't find this service, use common sense by looking around doors and windows for drafts. Carry a wet bath cloth and slowly run your wet hand around suspected leaks (best done during a windy day). You'll feel it if there is a leak.
Caulking and insulated foam work wonders. Pay attention to pipe/wall penetrations to the outside as well as the interior walls that can lead up to the attic such as under bathroom/kitchen sinks.
Where is the water heater located? If exposed, it will help to purchase a insulated wrap and insulate both inlet and outlet. They serve as heat sinks, drawing heat away from the tank. These are a few quick fixes that won't cost a lot.
Phil LeJ.
more suggestions on how to get the most from older appliances and homes at www.stretcher.com/stories/00/001211a.cfm
Cleaning Humidifier Filters
For reuse of filters...if they are made of the spongy material it is possible. Having spent years in the medical profession I know that frequently changing the water will help. Also if the water is too hard you may get a quicker build-up of lime and mineral deposits. Check to see if distilled water is appropriate. Also, there is no replacement for warm soapy water-dish detergent may work so long as there are no added perfumes. If you really want to try to go the extra step after rinsing the soap and water out, soak in white household vinegar for a minute or two, wring, then allow to air dry in a clean place. A commonly used component of acetic acid is vinegar and is used for bacterial control with respiratory equipment cleansing as well as wounds. However, in these instances the solution is sterile and mixed to particular specs.
LDH
more suggestions for cleaning filters and alternatives for humidifiers at www.stretcher.com/stories/00/001211b.cfm
Christmas Gifts
Every year since my son was born I have had him make or contribute to a gift for grandparents, aunts, friends, or other people that give him a gift. These were all easy, quick, and cheap gifts that people really liked.
1. The first year I got plain off-white pot holders from the dollar store ($1 for a pair). I used red and green fabric paint. We painted his hands and he put handprints on the pot holders. I used gold fabric paint to add his name and the date to them. I did 8 sets for about $10. The grandparents LOVED them!!
2. The second year I got some red foam squares from the craft store. I cut each a little bigger than a post-it note pad (the 2" x 3" ones). I hot-glued a magnet on the back of each square. Then, after I outlined where each pad would be glued, he used paint markers to 'decorate' the borders. We glued on some beads & sequins, then I attached the post-it pad. Voila! A useful addition to the fridge door. Since I got the off-brand post-its, these cost about $0.75 each to make.
3. This year's gift is hand-painted mugs. I got plain mugs from Goodwill or thrift stores (white or cream work best, but I also used green, black, & gray). I bought 2 kits of Perma-Coat Air Dry ceramic paint at the craft store (comes with 5 colors plus surface preparer & sealer), plus an extra bottle of sealer (Step #3 on the instructions). We also used a few sponge shapes (star, heart, teddy bear, etc.). After I prepared the mugs he painted them any way he wished, and used the sponge stamps. After sealing, they are supposedly upper-rack dishwasher safe. The mugs were $0.30 each at Goodwill. The entire cost ended up at about $1.25 each.
These gifts have all been fun & easy for him to do, plus I believe it teaches him that we don't just GET gifts all the time, but give them too.
Deb C.
more Christmas gift ideas and traditions at www.stretcher.com/stories/00/001211g.cfm
Please send your tips to gary@stretcher.com with "Tips" as the subject. If we use your tip or reply to 'Can You Help' in any of our publications we'll send you the next three issues of our print newsletter as a 'thank you'.
Stories on the Dollar Stretcher Website
Canceling Credit
by Gary Foreman
How you do it will make a difference on your credit report
http://www.stretcher.com/stories/00/001211c.cfm
Holiday Stress Busters
by Dr. Donald E. Wetmore
A time of joy? Or a time of stress and frustration?
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Stock Market-Indexed CDs
Safe, and offer higher returns -- if the market rises
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Divided by Credit
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Christmas Gifts & Traditions
The most wonderful time of the year…
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Teacher Appreciation Gift Ideas
by Deborah Taylor-Hough
There's a fine line between showing appreciation and going broke
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Easy Christmas Home Style
by Colleen Moulding
A simple idea or two can make your home inviting for the holidays
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A Simple Shirt
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Do higher priced clothes provide better value?
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Give "Timely" Gifts
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Time can be more precious than money
http://www.stretcher.com/stories/00/001211e.cfm
Watch Those Hospital Bills
by Sharon Powell
When is a $10 teddy bear not a teddy bear?
http://www.stretcher.com/stories/00/001211f.cfm
Humidifier Use
You don't want to spread bacteria into your home
http://www.stretcher.com/stories/00/001211b.cfm
Let the Holidays Loom Large, But Not Heavy
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A few ideas to make the schedule a little easier
http://www.stretcher.com/stories/00/001211n.cfm
How I Stopped Paying Rent
by Hong Lee
Wouldn't you like to stop being a renter?
http://www.stretcher.com/stories/00/001211r.cfm
The One Percent Solution
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Little changes can make a big difference
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Reallocating your IRA?
Consider high-yielding MMAs, CDs
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Energy Savings for Older Home & Appliances
Ideas to make the most of the energy you use
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Getting Lost in America
How to finance a recreational vehicle
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My Home
U.S. homeownership reaches record high; policymakers still not satisfied
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Ask Dr. Don
Biweekly house payments; and retirement vs. college investing
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Installing a Tile Entryway
The Natural Handyman
It's not as easy as just laying down a few tile
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Aerostar Heater Lacking
Ask Bob: The Auto Answer Man
It just never seems to get warm enough
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For Your Home or Small Business
Telecommuting: Medical Billing or Medical Transcription
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Getting on the road to success
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SmallBiz Adviser
Global opportunities require research before they come to fruition
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Simpler Taxes
Tax paperwork breaks coming next year for a million small businesses
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Business Borrowing
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Computer Keystroke Logging
You can, but should you?
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SmallBiz Adviser
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Five December Tax Moves
Could cut your firm's April IRS bill
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Dragging You Down
Ways to reduce, prevent employee theft
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Copyright 2000 "The Dollar Stretcher, Inc.". All rights reserved unless specifically noted.
Write to the Dollar Stretcher at:
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