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The Pocket Change Investor The Secrets to Getting Ahead -- Even if You Have A Pile of Credit Card Bills, Hefty Mortgage Payments, Loans Out on a Clunker or Two, And a Bad Case of the "I'm Tired of Living Payday to Payday" Blues |
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Welcome to Our First On-Line Issue!
Our format has changed but our goals have not. We want to help you save money, get out of debt, and live better on less. You can read the whole issue below, or click on these links for specific articles:
The room where I'm sitting used to be our dining room, but I got tired of taking all our work stuff off the table when we wanted to eat. So the world headquarters of Good Advice Press now resides near the refrigerator, and we moved the dining room down the hall and past the staircase. We recently tucked a dining room table into a corner of the living room, because we needed dining room #2 for AgainWithTheComics.com, our newest Web site. We had 10,000 or so comics left from "Marc and Nancy Comics," our early 1980's adventure in retail, which we took out of storage and priced. Now, we're ready to sell them. Please tell every comic fan you know about our site! While you may not have a pile of comics in the attic, it's well worth your time and energy to create what we call an "Ace in the Hole" -- a teeny, tiny business -- to provide for your family, should the you-know-what hit the you-know-where. (Click for our advice and book picks on being in your own business.) We hope you enjoy our FREE e-letter, and that you'll forward it to everyone you think might benefit from our ideas.
Many thanks from Marc Eisenson and me! |
Our garden produces bumper crops of vegetables interspersed with flowers and the more than occasional weed (many of which are quite edible). Among the bounty are bushels of bird houses ... actually bird house gourds, which when dried, drilled, and hung, are frequently put to good use by birds.
This summer, one of our gourds was home to a pair of wrens. When their young 'uns were nearly fully feathered, and for reasons we can only guess, the parents disappeared. After long hours of waiting fruitlessly for them to return, we took the babies inside. For the next 11 days, we were on almost continuous nursing duty, feeding them a concoction we came up with, along with aphids and assorted other bugs. When they outgrew the small box we had first kept them in, we built a cage, and furnished it with twigs, which they loved. When that closed in on them, tree branches and moths filled our guest room as the babies learned to fly and feed themselves. Our hearts broke over the few who didn't make it, but the day came when the guest room was too small, they could eat on their own, and the greater world beckoned the four who remained. So we opened the window and watched as one by one, they flew off.
We sure fell in love with those little wrens, as did the six of our nine grandkids who got to meet them -- Andrew, Stephen, Josh, Caity, Alison, and Lucy. It was a wonderful, grueling experience. We miss them terribly, and have great compassion for every parent who is now dealing with the empty nest syndrome. Next time we rescue orphaned birds, which we hope won't be for a good long time, we'll raise them to be more neurotic. They never stop by, call, or write.
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The Times They Are A-Chargin' (not a typo)
By Marc Eisenson and Nancy Castleman
Back in December of 2001, a friend we'll call Olivia, spent $65 to give her boyfriend, pseudo-named Ethan, a one-year gift subscription to The New York Times Book Review section.
Tired of the papers piling up, she decided not to renew, and simply tossed the first few renewal notices she received. All the while, Ethan continued to receive the Book Review section every week. Then last February, Olivia received a "suspension notice," followed shortly thereafter by a bill for $11.25 for the issues Ethan received from December, 2002 through February, 2003. At this point, Olivia was moved to respond -- she sent back the bill saying she didn't order the issues and wasn't going to pay for them. The next piece of correspondance Olivia received was from International Media Concepts, Inc., which describes itself as "a collection agency representing The New York Times. Your New York Times account balance of $11.25 is seriously past due." (Emphasis not added by us.) The letter went on to state: "We are attempting to collect a debt and any information obtained will be used for that purpose. Unless you, within 30 days after receipt of this notice, dispute the validity of the debt, or any portion thereof, the debt will be assumed to be valid. If you notify us in writing within the 30-day period that the debt or any portion thereof, is disputed, we will, upon your written request, obtain verification of the debt or a copy of a judgment against you … ." (Emphasis added this time.) What Would You Do?!
Say you got a letter like this about an $11.25 bill from a collection agency that mentioned a copy of a judgment against you. From the tone alone, wouldn't you worry about what would happen to your credit report? Would you just pay the friggin' bill or invest the time to fight it? Olivia chose to call the toll-free number.
Shirley, the customer service rep, said she'd been hearing from many people complaining about bills like the one Olivia had received. Shirley also said that there should have been a check-off box on those bills to indicate that Olivia didn't want to renew. In any event, Shirley said she couldn't do anything to wipe out the $11.25 bill.
Would you pay or continue to fight? Olivia chose to call The Times' subscription department, where Betty told her that automatic renewal was The New York Times' policy -- meaning that Olivia was liable for the bill and that she should have let the newspaper know she didn't want to continue the subscription -- even though all Olivia signed up for was a one-year subscription.
Knowing Olivia as we do, we're certain that the original order form she filled out didn't make the automatic renewals policy clear. She simply assumed it was like virtually every other magazine subscription, where you get an extra issue or two, as well as a few renewal reminders, before the publication gives up. You don't get a bill for the extra issues you're sent.
Is The New York Times Fabricating Again?
Olivia told all this to Betty, who reiterated the paper's automatic renewal policy and denied Olivia's request to speak with a supervisor. Betty said she was a senior rep, and anyone else would tell her the same thing. That's when Olivia let her know she thinks the policy stinks, and that she didn't appreciate having this $11.25 dispute show on her credit report.
Betty then told her it wouldn't appear on her credit report, and that International Media Concepts, Inc., is a part of The Times, and not a "real" collection agency. The $11.25 would show as a bad debt with The New York Times, and the only consequence would be that if Olivia ever subscribed to the paper in the future, she'd have to pay off the old debt first. Olivia said she'd never subscribe to anything from The Times again, so that wasn't going to be a problem, and she certainly wasn't going to pay for something she didn't order.
The dunning notices stopped, and Olivia's ignored more than a few other offers from The New York Times. She vows to read the fine print before she ever subscribes to anything again. You should do likewise! But watch out! Even though a publication has an automatic renewal policy, it may not be stated when you subscribe. You may only find out about it once the renewal notices start pouring in.
As for The Times … well, consider this update: In researching this story, we went to the paper's Web site to see if there was any clear mention of its automatic renewal policy on subscriptions to sections like the Book Review. Finding it hard to locate any relevant info, we emailed a query, and received this response:
Here's the response we got: "In regards to your inquiry, the subscription will automatically renew, unless you request otherwise."
Request Otherwise!
Automatic renewals offer no benefit to subscribers, as far as we're concerned. The only beneficiaries are the publications -- or rather, the mega-corporate types who run them, and are so focused on the bottom line, they don't mind violating the trust readers have in them. (It's clear from The Times' emails to us that no editors had their hands on the copy.)
Whether it's a holiday gift subscription for a loved one or a publication for yourself, our initial thought was that you include a note that specifically says: "I am not authorizing you to automatically renew this subscription." But then, just to be sure, we called The Times' toll-free number, where we were instructed to call in about six months later to request a "stop date" -- that a year is too long for their system to register such a request. Hard to believe, huh?
Before you subscribe to any publication, make sure you find out if it has an automatic renewal policy. If it does, ask what you have to do to opt out. And while you have customer service on the phone, make sure to say that you don't want your name, address, or other personal information sold, traded, or rented to other marketers -- or to anyone else for that matter.
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Emergency Preparedness Upstairs
I vowed that before our last issue came back from the printer's, I'd buy a rope ladder to keep near an upstairs window in case of fire. That way, Marc and I would have something besides the staircase to rely on if we have to get out in a hurry. The good news is that we did get a ladder -- although making a choice wasn't as easy as I thought it would be. For example, the ladders come in different sizes -- did we need a 12-footer or a taller ladder? Since our bedroom is up one flight, the basic 12-foot model was plenty tall enough. We had just about made our final selection when I noticed something like this on the box: Warning! Don't use this ladder more than once. "That makes no sense!" I exclaimed. Why get a ladder we couldn't use in a fire drill? So we chose one that could be used again and again. The bad news is that we haven't gotten it together to try it out yet! I vow that we will before you read this. (I better "schedule" that drill right away, since I won't have nearly as much time to procrastinate, with this issue going out electronically!) Seriously, folks, make sure everyone has a way out of the upstairs in case of fire. Postscript It's now jsut a few short hours before we expect to finally stop tinkering with this newsletter and send it into cyberspace. To keep my commitment, I stopped work long enough to have our fire drill. I was able to set the ladder up, climb out the window, and land on terra firma, all by myself. Quite an accomplishment, I think, given that I have zero mechanical ability. (That's only a slight exaggeration. My score was ten out of a possible 100 on the aptitude test we had to take in high school.) |
Book Corner
In every issue, we recommend and offer books that we think you'll find particularly helpful. They're well written, and full of concrete, timely advice, but often not readily available in bookstores. Not all are the kind you'd want to read, cover to cover, at one sitting. But we think they deserve a space on your bookshelf, nonetheless.
Our Good Advice Book Store reviews other important titles -- on debt management, personal finance, estate planning, real estate, health, family living, gardening, and so on.
Subtitled, How to Turn Your Talents, Experience, & Know-How into a Profitable Homebased Business That's Perfect for You!, this is Barbara Brabec's detailed guide for home business beginners. It gives an intro to the work-at-home industry, shows which at home "opportunities" to avoid, and helps you figure out: what type of business is right for you, how to price your time, and how to blend your business life with your personal life. Also includes lots of resources -- books, online organizations, etc.
Barbara Brabec has successfully undertaken a Herculean task. In updating her classic book, Homemade Money, she came up with so much new information, that instead of one book, she wrote two: Starting Smart! and Bringing in the Bucks! Both books are must-reads for everyone thinking about being their own boss.
Homemade Money: Starting Smart! ($24.95) Homemade Money: Bringing in the Bucks! ($24.95) Subtitled, A Business Management & Marketing Bible for Home-Business Owners, Self-Employed Individuals, & Web Entrepreneurs Working from Home Base, Barbara Brabec's Bringing in the Bucks! picks up where Starting Smart leaves off. It will teach you how to do business on the Web, market your business with little or no money, solve time, money, and space problems, manage stress, and fight burnout. We got more than a few leads from this volume, which we'll be putting to good use. The Greatest Experiment Ever Performed on Women ($24.95) The Greatest Experiment Ever Performed on Women: Exploding the Estrogen Myth, by women's health advocate Barbara Seaman, looks at why doctors have been prescribing estrogen to combat the effects of aging and menopause, and to prevent breast cancer, osteoporosis, and many other diseases. Seaman's painstaking research shows the role the pharmaceutical industry has played in driving the use and research of hormone replacement therapy. With one out of eight women likely to develop breast cancer, it never made any sense to us for women to take a drug that helps most breast tumors grow -- estrogen. And given the findings in recent health studies -- that estrogen causes more problems than it solves -- this book is a must read for everyone who wants to understand corporate America. Invest in Yourself ($22.95) Hardback on Sale: $11.95 If you're interested in our ideas, this book, written by the two of us, along with credit expert Gerri Detweiler, is the one to get. The advice we offer in Invest in Yourself: Six Secrets to a Rich Life is more important now than ever. Vicki Robin says we "Blast through the muddled notions our culture has about money and offer smart and simple approaches to every aspect of your financial life." Jay Conrad Levinson says it "offers rock-solid advice presented with warmth and easy reading." Terry Savage calls it a "perfect gift … ." There's time for you to get it, read it, and give it away for the holidays.
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By Nancy Castleman
Even if I do say so myself, Marc and I make complicated, sometimes overwhelming subjects easier to understand. Could you or someone you know benefit by having some of our time and energy focused solely on a particular problem or opportunity -- be it a personal finance, business, lifestyle, or health issue? In the same way you might hire a personal trainer at the gym, we can get you on the right track. We can also save you time, money, and grief. For example, say you need info and advice about how to: Get up to speed on a newly diagnosed disease without reinventing the wheel. People knowledgeable about their disease and involved in treatment decisions have better outcomes than people who are more passive. We can do the initial research for you, or guide you through the maze. When Marc and I researched breast cancer treatment options, following my diagnosis back in 1990, it was much more difficult to do than it is today. Based on our research, we made conscious choices about my treatment, and I'm sure glad we did. Otherwise, I don't think I'd be here today! Develop a Web site for your small business without it taking years or costing you an arm and a leg. A few hours worth of email exchanges and phone calls with us will help you get the site you want, sooner and cheaper, whether you design it yourself or work with a pro. Marc designed this Web site, as well as the site for Just Alan, his brother's wonderful gift store in Woodstock, NY, and for Again with the Comics (our new site to finally part with the 10,000 or so comics we've had for about 20 years). Publicize a book, service, cause, or other product. We've been at it since 1984, and we've learned how to get the word out on the cheap, with or without a publicist. Chances are, you first heard about us through a write-up in a newspaper or magazine. If there's an idea you want to get out there, an hour or two of brainstorming with us should do the trick. You name it ... how you can ...
Editors and publishers, please note: We're always happy for assignments! Let us know what you need and when. We'll get right back to you.
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This issue of The Pocket Change Investor is dedicated to Paul Havemann and the other great folks at HSH Associates, the nation's largest publisher of consumer loan information, and the host for our Web site!
We take more than reasonable care to give you timely, accurate information. But before making major decisions, speak to your advisors. Issue #35 ©2003 Marc Eisenson & Nancy Castleman Good Advice Press PO Box 78 Elizaville, NY 12523 |