I agree with you in that your suggestions are great to build up an emergency fund. However, the first part of this article was referring to last-resort methods to get cash for an emergency expense that you would have to cover within 48 hours or so. Otherwise, they would be called "emergencies".
We had an appraisal done on a split level home sold as a 4 bedroom 2330 sq ft and it appraised as a 2 bedroom 1300 sq ft. The lower level had a family room and 2 bedrooms and 1 bath. How can this be knowing most split levels have liveable space on both levels???
Well, there certainly are a lot of customer service reps representing themselves here in the comments section. And I suppose it's unsurprising.
I think there's something which needs to be understood that goes increasingly forgotten. When someone makes a statement, whether it's one of opinion or of peer-review study-backed fact, they generalize. We must. To account for every variable, every person, every circumstance, every difference in a given statement and attempt to write it all out would be more than a planet of lawyers could take!
Instead, there are a number of fallacies committed here on both sides of the table. The author's primary fault is the content manipulation fallacy of Unfalsifiability. It's not that he's lied; it's that we can't confirm or deny his statements because we don't know where he got the data to make his conclusions. What the customer service folks are accusing him of is making a faulty deduction known as Division, in which one assumes the characteristics or beliefs of a group apply to every member of a group. To be clear, we cannot confirm or deny that assertion as there is no data upon which to make that assessment, consequently it is in all likelihood that the CSRs are making that faulty deduction rather than the author. This claim is made due to the fact that CSRs are presenting anecdotal evidence as proof, which is in itself another faulty deduction; discounting statements made in favor of other beliefs developed through firsthand experience. Unfortunately, firsthand experience establishes a relatively small exposure to a subject for a study, but to the perception of the one experiencing it, it has much greater impact.
So, please, folks, no need to take offense because an article which by necessity generalizes didn't take your unique situation into account.
That said, the evidence gathered by several thousand angry customers has established that, to some companies, these techniques don't always work. As a preface, there are some companies that I know will bend over backwards to treat me well, and I do everything short of sending Christmas cards to show proper gratitude. Comcast is not one such company. Personally, their billing to me took six years to straighten out. As they could not figure out a standard rate to charge me for my router and extra cable boxes, I returned them and programmed my own router. They continued to bill me for the devices; I had my wife video me as I returned them to our local branch (which is built like a fortress, likely because they are well aware of the extent of their business practices) and made multiple copies of the return receipt. That, plus a selfie with me shaking the hands of the local branch manager as I returned them, all was submitted. The response varied between CSRs, starting with me needing to send that to a different office, then another office which didn't take emails, and then a central office which swore up and down they never got anything. It was documented, voice recorded, and still I was required to file a complaint with the FCC to straighten out the problem. It amounts to getting to a point where a company knows they have wronged you, violated a contract in some way, and doesn't care because they know you don't have the means to enforce the contract or take them to court.
I have to date filed six different complaints with the FCC, and an additional four for my mother's behalf. I knew how to do all this because there are entire online communities devoted to pooling information on Comcast's wrongdoings, meticulously documenting it, and establishing procedures for effectively escalating complaints.
My point is that I highly doubt there are any customer service reps commenting who work for the companies which require an article such as this to be written. I would like to say that such companies are also the reason you folks have to deal with angry customers, but sadly the human race always lets me down.
I would comment on the growing problem of health insurance companies laying policies to the bone since the ACA was passed, but I expect the people who make that decision aren't anywhere near the ones who have to bear the brunt of peoples' anger at the notion that being healthy and surviving perfectly curable illnesses is a privilege in this country, not a right.
With respect, ma'am, the majority of these suggestions are reliant on using your child as an excuse. There is no doubt becoming a parent shuffles priorities and eats up your time, and if that were truthfully the sole reason you said no, that's fine. It doesn't really help if someone wants to say no and has no such person to blame for it though. Otherwise, honesty ticks off family and loses friends, while lying can get confusing if you're bad at it.
:) Find a way to make them into teen things. I'm 15, and rather than 'taking a picture with a walmart employee,' my friends and I went to our local park and did things like "You balancing a tennis ball on your nose." A lot of the examples can be used for teens, too, so have fun!
Ethics don't belong in business. Do you really think businesses care how much they hurt you when they do layoffs? Screw them. It's never in your interest to put your company's well being above your own.
Baking soda helped me tremendously when I had severe nausea over the Christmas season. I ate just a pinch and waited about 10 or so minutes. It gave me great relief and I was up and moving around in quickly. If it didn't work for you that's fine but not everyone reacts the same to certain methods taken. You have to try what's right for you and this "old wives tale" helped me to feel better.
Bela,
I agree with you on almost everything! If we had a straight 7% tax on ALL income, for both private AND corporate, it would give our government so much more tax revenue than we are now getting. This is due to the fact that the way our current tax laws are written, the biggest conglomerates in the country pay a small amount of taxes... BUT...after all the tax breaks, tax incentives, and loopholes, they usually GET IT ALL back. Don't you people realize that you probably paid more in taxes than Exxon??? 7% straight across the board with NO corporate tax breaks would very nicely pay for everything we need, and would create millions of jobs repairing and renewing our country's decaying infrastructure ...our bridges, dams, tunnels, and especially our power grids. I would also disagree about free colleges. I believe everyone is entitled to an education, as well as excellent healthcare. I believe we should also fund trade schools, as we need excellent plumbers, electricians, steelworkers, etc., to accomplish our goal of improving our infrastructure. I also think the government should exercise some control on "charities". Do you realize the top echelon of most "charities" in America, such as the American Cancer Society and many others, spend very little on actual research and helping cancer patients? Most of their donations received by the hard work of volunteers, goes directly to obscene salaries and perks to the CEO and other top management. Google it online and just look at their salaries! This should be disallowed. And yes...I agree wholeheartedly with you Bela, that the only candidates I could imagine doing ANY of these things would have been #1 Bernie Sanders and a distant #2 John Kasich. God help us if Trump gets in! And Hillary is not much better. So tragic!
This was a good article, and informative for the audience to which it was intended.
I am so disappointed in the comments to this article, especially the negative comments and in particular, misinformation about the aspects of whole life, albeit I can only speak for the Canadian versions. I am life licensed in 6 provinces, and contracted with 25 companies, 13 years in the business, so am considered reasonably knowledgeable by my peers. I sell an average of 2 policies a week, and probably 80% of them are term 10-35, level or decreasing, as that is what most people need and can afford. Of my permanent sales, probably 85% are Term 100 , minimum funded universal life (UL) minimum funded, i.e. no cash value, as in Canada we have something called the Tax Free Savings account which offers a better solution for investment money compared to a UL policy for most people.
My whole life sales are primarily for children, I bought them for my two grandsons 11 years ago, and their performance is better than the current dividend scale, with both the death benefit and cash value growing annually. The whole life most commenters are describing here are the guaranteed death benefit, guaranteed cash value camp, which many do not allow access to the cash value to borrow against, and none that I am aware of, on death, pay other than the starting death benefit, i.e. the cash value is lost. I have had the rare person who has wanted this type of whole life, but I try to discourage them if I can.
So to summarize, it is impossible to make a generalized statement about any life insurance product, as there is variety for a reason, and an experienced life insurance agent with the client's best interest at heart, (I have inherited several policies over the years where this I not the case, and includes the agent I had for 20 years, before realizing he was only interested in padding his pocket, rather than what was best for me). For some of my clients, I have recommended a combination of permanent and term to meet their short, medium, and long term goals. One test of an agent's competence is to ask if they use Excel, and can they show you a comparison of different plans? If they can't move on, as not being able to use Excel in this business, means the agent can't gain the insight only Excel can show.
Very nice article, definitely insightful. I have one question regarding the airlines:
"For example, American and United are not AmEx partners. However, you can still redeem MRP for flights on those airlines by transferring your points to partner airlines that are part of the major alliances, like Singapore Airlines, then using the miles to get a flight on United through the Star Alliance."
What do you mean "through Star Alliance"? This is feasible because of coach sharing flight, I assume right?
Why is position open?
There's a lady at my church. I just can tell she's thrifty, and I take cues from her.
Probably Gail Vaz-Oxlade from Til Debt do us Part, she is so no nonsense about finances, it always motivates me to stick to my budget better!
my mother since she's always very frugal and was able to raise 3 kids plus pay the mortgage on 1 salary
For what its worth, snap a photo of your bag after its packed or before you check it in. That can also help with identifying it.
I would say my mother. She is always investing and making sure she has funds working for her in different places.
My mom is mt personal finance role model.
Thank you for allowing me to participate in this Giveaway!
Hi Julie,
I agree with you in that your suggestions are great to build up an emergency fund. However, the first part of this article was referring to last-resort methods to get cash for an emergency expense that you would have to cover within 48 hours or so. Otherwise, they would be called "emergencies".
Best regards,
Damian
We had an appraisal done on a split level home sold as a 4 bedroom 2330 sq ft and it appraised as a 2 bedroom 1300 sq ft. The lower level had a family room and 2 bedrooms and 1 bath. How can this be knowing most split levels have liveable space on both levels???
GREAT GIVEAWAY! Entered :)
Well, there certainly are a lot of customer service reps representing themselves here in the comments section. And I suppose it's unsurprising.
I think there's something which needs to be understood that goes increasingly forgotten. When someone makes a statement, whether it's one of opinion or of peer-review study-backed fact, they generalize. We must. To account for every variable, every person, every circumstance, every difference in a given statement and attempt to write it all out would be more than a planet of lawyers could take!
Instead, there are a number of fallacies committed here on both sides of the table. The author's primary fault is the content manipulation fallacy of Unfalsifiability. It's not that he's lied; it's that we can't confirm or deny his statements because we don't know where he got the data to make his conclusions. What the customer service folks are accusing him of is making a faulty deduction known as Division, in which one assumes the characteristics or beliefs of a group apply to every member of a group. To be clear, we cannot confirm or deny that assertion as there is no data upon which to make that assessment, consequently it is in all likelihood that the CSRs are making that faulty deduction rather than the author. This claim is made due to the fact that CSRs are presenting anecdotal evidence as proof, which is in itself another faulty deduction; discounting statements made in favor of other beliefs developed through firsthand experience. Unfortunately, firsthand experience establishes a relatively small exposure to a subject for a study, but to the perception of the one experiencing it, it has much greater impact.
So, please, folks, no need to take offense because an article which by necessity generalizes didn't take your unique situation into account.
That said, the evidence gathered by several thousand angry customers has established that, to some companies, these techniques don't always work. As a preface, there are some companies that I know will bend over backwards to treat me well, and I do everything short of sending Christmas cards to show proper gratitude. Comcast is not one such company. Personally, their billing to me took six years to straighten out. As they could not figure out a standard rate to charge me for my router and extra cable boxes, I returned them and programmed my own router. They continued to bill me for the devices; I had my wife video me as I returned them to our local branch (which is built like a fortress, likely because they are well aware of the extent of their business practices) and made multiple copies of the return receipt. That, plus a selfie with me shaking the hands of the local branch manager as I returned them, all was submitted. The response varied between CSRs, starting with me needing to send that to a different office, then another office which didn't take emails, and then a central office which swore up and down they never got anything. It was documented, voice recorded, and still I was required to file a complaint with the FCC to straighten out the problem. It amounts to getting to a point where a company knows they have wronged you, violated a contract in some way, and doesn't care because they know you don't have the means to enforce the contract or take them to court.
I have to date filed six different complaints with the FCC, and an additional four for my mother's behalf. I knew how to do all this because there are entire online communities devoted to pooling information on Comcast's wrongdoings, meticulously documenting it, and establishing procedures for effectively escalating complaints.
My point is that I highly doubt there are any customer service reps commenting who work for the companies which require an article such as this to be written. I would like to say that such companies are also the reason you folks have to deal with angry customers, but sadly the human race always lets me down.
I would comment on the growing problem of health insurance companies laying policies to the bone since the ACA was passed, but I expect the people who make that decision aren't anywhere near the ones who have to bear the brunt of peoples' anger at the notion that being healthy and surviving perfectly curable illnesses is a privilege in this country, not a right.
You're welcome!
With respect, ma'am, the majority of these suggestions are reliant on using your child as an excuse. There is no doubt becoming a parent shuffles priorities and eats up your time, and if that were truthfully the sole reason you said no, that's fine. It doesn't really help if someone wants to say no and has no such person to blame for it though. Otherwise, honesty ticks off family and loses friends, while lying can get confusing if you're bad at it.
:) Find a way to make them into teen things. I'm 15, and rather than 'taking a picture with a walmart employee,' my friends and I went to our local park and did things like "You balancing a tennis ball on your nose." A lot of the examples can be used for teens, too, so have fun!
I can't say that I have a financial role model, which is why it took me so long to figure it all out!
Ethics don't belong in business. Do you really think businesses care how much they hurt you when they do layoffs? Screw them. It's never in your interest to put your company's well being above your own.
Baking soda helped me tremendously when I had severe nausea over the Christmas season. I ate just a pinch and waited about 10 or so minutes. It gave me great relief and I was up and moving around in quickly. If it didn't work for you that's fine but not everyone reacts the same to certain methods taken. You have to try what's right for you and this "old wives tale" helped me to feel better.
Bela,
I agree with you on almost everything! If we had a straight 7% tax on ALL income, for both private AND corporate, it would give our government so much more tax revenue than we are now getting. This is due to the fact that the way our current tax laws are written, the biggest conglomerates in the country pay a small amount of taxes... BUT...after all the tax breaks, tax incentives, and loopholes, they usually GET IT ALL back. Don't you people realize that you probably paid more in taxes than Exxon??? 7% straight across the board with NO corporate tax breaks would very nicely pay for everything we need, and would create millions of jobs repairing and renewing our country's decaying infrastructure ...our bridges, dams, tunnels, and especially our power grids. I would also disagree about free colleges. I believe everyone is entitled to an education, as well as excellent healthcare. I believe we should also fund trade schools, as we need excellent plumbers, electricians, steelworkers, etc., to accomplish our goal of improving our infrastructure. I also think the government should exercise some control on "charities". Do you realize the top echelon of most "charities" in America, such as the American Cancer Society and many others, spend very little on actual research and helping cancer patients? Most of their donations received by the hard work of volunteers, goes directly to obscene salaries and perks to the CEO and other top management. Google it online and just look at their salaries! This should be disallowed. And yes...I agree wholeheartedly with you Bela, that the only candidates I could imagine doing ANY of these things would have been #1 Bernie Sanders and a distant #2 John Kasich. God help us if Trump gets in! And Hillary is not much better. So tragic!
Thanks for the opportunity
This was a good article, and informative for the audience to which it was intended.
I am so disappointed in the comments to this article, especially the negative comments and in particular, misinformation about the aspects of whole life, albeit I can only speak for the Canadian versions. I am life licensed in 6 provinces, and contracted with 25 companies, 13 years in the business, so am considered reasonably knowledgeable by my peers. I sell an average of 2 policies a week, and probably 80% of them are term 10-35, level or decreasing, as that is what most people need and can afford. Of my permanent sales, probably 85% are Term 100 , minimum funded universal life (UL) minimum funded, i.e. no cash value, as in Canada we have something called the Tax Free Savings account which offers a better solution for investment money compared to a UL policy for most people.
My whole life sales are primarily for children, I bought them for my two grandsons 11 years ago, and their performance is better than the current dividend scale, with both the death benefit and cash value growing annually. The whole life most commenters are describing here are the guaranteed death benefit, guaranteed cash value camp, which many do not allow access to the cash value to borrow against, and none that I am aware of, on death, pay other than the starting death benefit, i.e. the cash value is lost. I have had the rare person who has wanted this type of whole life, but I try to discourage them if I can.
So to summarize, it is impossible to make a generalized statement about any life insurance product, as there is variety for a reason, and an experienced life insurance agent with the client's best interest at heart, (I have inherited several policies over the years where this I not the case, and includes the agent I had for 20 years, before realizing he was only interested in padding his pocket, rather than what was best for me). For some of my clients, I have recommended a combination of permanent and term to meet their short, medium, and long term goals. One test of an agent's competence is to ask if they use Excel, and can they show you a comparison of different plans? If they can't move on, as not being able to use Excel in this business, means the agent can't gain the insight only Excel can show.
My mom is my financial role model
I can only use credit now what would be my best investment . Is life lock a good buy
My grand parents and parents, it's in my German blood.
Very nice article, definitely insightful. I have one question regarding the airlines:
"For example, American and United are not AmEx partners. However, you can still redeem MRP for flights on those airlines by transferring your points to partner airlines that are part of the major alliances, like Singapore Airlines, then using the miles to get a flight on United through the Star Alliance."
What do you mean "through Star Alliance"? This is feasible because of coach sharing flight, I assume right?