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Subject: persfin-digest V4 #33
Date: Thu, 8 May 1997 21:56:55 -0400 (EDT)
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persfin-digest Thursday, May 8 1997 Volume 04 : Number 033
IN THIS ISSUE:
ADVERTISEMENT: MCI AUTOFORWARD [Oppenheimer Software <Connect-Sales@mcim]
Re: Can a Minor Cas a Check Or Bond? ["Louis J. Schwarz, CFP, RFC" <sfc@]
Re: Paying Bills Less Than $2 [Michael E Kurela <mk87+@andrew.cmu.edu>]
Re: My Opinion on the HMO Debate [David Meyers <dmeyers@panix.com>]
Re: Changing PCPs [0500101@ACAD.NWMISSOURI.EDU]
Life Insurance Change? ["Gary M. Oppenheimer" <0002180241@mcimail.com>]
Re: About to Go On The Road ["Hope Feinglass"<Hope_Feinglass@moneyminds.c]
Investment Clubs? ["Schafer, Rick" <schaferr@eng1.otis.com>]
Dow Jones News Service - Anyplace Other Than Prodigy? [Sandi Rollins <sro]
Re: Debt Loads and Walking Softly [BOB FORD <BOB_FORD@compuserve.com>]
Re: Joint Tenancy [BOB FORD <BOB_FORD@compuserve.com>]
Re: College Fund For Children [BOB FORD <BOB_FORD@compuserve.com>]
What Are Platinum Credit Cards? [Kevin Jung <kjung@hawaii.edu>]
Companies Responding to Female Participatin In Sports? [Susan Mangiero <m]
Q regarding taxes ... [jay@one-o.com (Jay)]
Re: Traveling for 2 1/2 months [Bob Herlien <bobh@wave.mbari.org>]
[hartwig: Re: Paying Bills Less Than $2 - You Should Do It] ["Barry H. R]
Re: Jim on the road [Jeff Morgan <Morgajs@parsec.com>]
Pro-consumer legislation [Jeff Morgan <Morgajs@parsec.com>]
Child cashing savings bonds [Charles Cilek <chuck@cygnus.dis.anl.gov>]
Re: Paying Bills Less Than $2 - You Should Do It [Eric <er@clark.net>]
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Date: Thu, 8 May 1997 21:13:06 -0400 (EDT)
From: Oppenheimer Software <Connect-Sales@mcimail.com>
Subject: ADVERTISEMENT: MCI AUTOFORWARD
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------------------------------
Date: Thu, 8 May 1997 21:15:43 -0400 (EDT)
From: "Louis J. Schwarz, CFP, RFC" <sfc@clark.net>
Subject: Re: Can a Minor Cas a Check Or Bond?
(James Cook inquired if a child under 18 can do any transaction at the
bank.)
Unless it is a custodian account (ie. UGMA), there is no such federal,
state or local policy on this issue. My simple advice is to close all
accounts with that bank and to look for other banks who encourage minors
to do business with them. I have my daughters doing on their own with
the local federal savings bank - even as young as six years old. :)
Louis J. Schwarz, CFP, RFC TTY 301-587-5996
Schwarz Financial Concepts FAX 301-587-5997
814 Thayer Avenue, Suite 301 Voice Relay 800-735-2258
Silver Spring, Maryland 20910-4500 Mailto:sfc@deafcfp.com
------------------------------
Date: Thu, 8 May 1997 21:17:09 -0400 (EDT)
From: Michael E Kurela <mk87+@andrew.cmu.edu>
Subject: Re: Paying Bills Less Than $2
> From: hartwig@gate.net (Bob Hartwig)
> Subject: Re: Paying Bills Less Than $2 - You Should Do It
>
> There are two reasons why you should pay a bill, no matter what the
amount, > provided that it is accurate.
Actually, this is not true. I am not recommending that people
steal - there is a threshold by which paying the bill costs
more to a company than having the bill amount removed by the
company.
> 1) You bought it--you owe the money for it. Taking a good or service
> without paying for it is stealing. I don't tell my 4-year old that he can
> grab anything he wants from the candy store so long as the total is less
> than $2.
The costs related to the transaction of buying a good or service
fact-to-face are very visible. The store owner can raise the price
of the service to cover those fixed and variable costs of the items
that your 4 year old wants to buy. If you are talking about small-
ticket candy items, those items are impulse items and the store does
not make payroll because your 4 year old wants a candy bar. Large
organizations do not always understand the cost of transactions
because they are difficult to see and weed out of the accounting
statements.
Many companies have failed because they do not understand
costing and finance. This is why an MBA from a top ten B-school has
become so valuable to firms these past couple of decades - they are
educated to increase profitability through ways that accounting
statements do not make visible. If I purchase a good or service
it is usually because I place a personal premium on it; therefore I
usually also value the provider and do not wish to see them go out of
business. If I can help a valued firm stay in business by educating
them, I will do so.
This, however, is not an issue of stealing services. My recommendation
to people regarding such bills is to call the company. It's probable
that the accounts receivable department head is unaware or uneducated
about the cost of transactions, such as processing bills for $0.27.
You are causing the company to lose money and contributing to the
degradation of the environment by actually paying those small bills.
Companies should not even be billing for amounts that small, and I
am proactive in letting them know.
> 2) The same computer that generates a bill for $1 or $2, despite the
> transactions costs, will also blindly generate a negative mark on your
> credit report. It will cost you a lot more time and effort than it is worth
> to clear up that blemish It's easier to just send in a check for $1 or $2.
...and this is why you should call the debtor and have the
bill cancelled.
> Several years ago I received a bill from Sears for $0.02. I paid it for the
> reasons discussed above.
You would have cost Sears less in processing costs by picking up
the phone and explaining that to them. It's common sense. Many
companies do not use it because it's not in their organizational
structure.
- --mk
Michael Kurela
Financial Analyst, University Planning
Flex-Time, Graduate School of Industrial Administration
Carnegie Mellon University
http://128.2.119.133
(412) 268-1002: Office (412) 749-9655: Home
------------------------------
Date: Thu, 8 May 1997 21:18:00 -0400 (EDT)
From: David Meyers <dmeyers@panix.com>
Subject: Re: My Opinion on the HMO Debate
>From: "Hank Gillette" <Hank_Gillette@smtp.svl.trw.com>
>I have two arguments for a single payer system. One, there are some things
>we consider too important or unsuited to be left to the free market.
>National defense and the postal service are two examples.
Many people would argue with the necessity for the postal
service to have a mandated monopoly. The way in which
it is created - by making it a crime to compete with it -
is rather absurd.
> The ideal health
>care system would be efficient, universally available, and affordable to
>all.
As would the ideal food, shelter, etc system. As Rich said,
where does it end? And what is the actual cost? And who
bears that cost? Some of these "ideal" systems look great
for a while, until later on when the real costs come to
bear. Look as Social Security, for example. Or Medicare.
Or, all those other countries which are held up as examples
of how well it works - where they are cutting benefits
regularly, rationing more expensive things, and have very
strict controls over immigration - generally far more
strict than the US.
> The system we have in the United States is none of these. Most
>developed countries have decided that the best way to achieve these goals is
>a single payer or (dare I say it) socialized health system. While these
>systems are not perfect, by objective standards such as infant mortality or
>average life expectancy, they provide better health care than the U.S.
>system at a lower cost.
The "objective" standards you refer to, as far as I know,
leave you with apples to oranges comparisons when you
factor in the fact that our demographics are quite
different from those other countries.
>Second, even if you believe that health care should be left to the free
>market, the system we have does not work as a free market . The power in the
>current system is in the hands of the large insurance companies and the
>large corporations that provide employee health care, not the consumer.
For the most part, the reasons for this market distortions
are because of government intervention and mandates anyway.
Particularly coverage mandates (x y and z must be covered
in such and such a way, rather than allowing people do
freely decide what to have covered and what not), and
the distortions of the tax code (ie. corporations can
deduct health insurance for their employees, and do so
and use that in contract and compensation negotiations
instead of pay, while individuals and the self employed
cannot deduct it.). The best thing that could be done
with respect to the latter problem would be to eliminate
the corporate tax deduction, or to allow _all_ individuals
to deduct _fully_ their medical and health-insurance
costs (ie. through MSAs).
There is no reason for employers
to be in the health insurance business. Your employer doesn't
buy you dinner or provide your home or pay for your
car insurance, does it? Would you want it to? Would you
want your employer, by providing these things, to have
such control over what you eat and where you live?
>By contrast, it is very difficult for an individual to compare health care
>options or to shop for the best value. The great majority of us who are
>salaried employees are limited to the health plans that our employers offer.
See immediately above.
>The worst of it is, even though we are not providing universal health care,
>we are still paying for it. When people without health insurance get sick
>enough, they go to the emergency room. To recover these costs, hospitals
>raise the prices for everyone else.
If we are going to mandate that hospitals treat everyone,
even those who cannot pay for it, it seems that those
mandating this (ie. gov't) need to pay for it. Of course,
that would pay for the emergency care out of general
revenues or other taxes, but better to pay for it _explicitly_
out of general revenues than to pay for it _implicitly_
out of insurance policies. That alone would lower the
insurance and medical care costs significantly, and
allow more individuals to afford it - thus helping
alleviate the problem in the first place.
- --D
------------------------------
Date: Thu, 8 May 1997 21:18:49 -0400 (EDT)
From: 0500101@ACAD.NWMISSOURI.EDU
Subject: Re: Changing PCPs
>
>In some ways I agree about the capitation situations, however it is up to the
>insured person to make sure they have the best medical care, IE: Changing your
>PCP when needed, or even insurance companies if need be.
Changing your PCP may be an option, but if you are receiving medical
treatment in "small town USA" this is a problem. Some doctors will not take
you back as a patient if you leave -- so this is a one time decision. Some
doctors are very relunctant to give a referral. They take it as a personal
insult if you ask for a second opinion. What are you going to do if you
want a referral and the PCP refuses? What are you going to do if you want a
second opinion and the PCP refuses? What are you going to do if you leave a
PCP for another PCP, and then are dissatisfied? Suppose you live in a town
with three medical doctors -- one will not refer, one will not authorize a
second opinion, and the other you regard as incompetent. If you live in a
metropolitan area, this may not be a problem, but in a small town, you could
easily find yourself driving a couple of hours to get medical care, if you
are not careful.
TK
------------------------------
Date: Thu, 8 May 1997 21:19:37 -0400 (EDT)
From: "Gary M. Oppenheimer" <0002180241@mcimail.com>
Subject: Life Insurance Change?
I'm 44 with a $100K whole life policy with New York Life, and its time
for the annual payment. Since we got that policy, we've become more
financially comfortable, and I'm starting to wonder if I really need
this.... might not a $100K term policy be better off for us, and if so,
which company offers the best policy and rates?
Any input would be appreciated.
------------------------------
Date: Thu, 8 May 1997 21:20:48 -0400 (EDT)
From: "Hope Feinglass"<Hope_Feinglass@moneyminds.com>
Subject: Re: About to Go On The Road
(Jim Reed & his family are traveling for 2-1/2 months, and he is concerned
about mutual fund downloading from the road.)
Hi, Jim--
When I read your post, I was actually feeling kinda sad for your family--it
sounded like the mutual fund monitoring might keep you from being "present"
with them to enjoy this wonderful opportunity.
Then you eventually answered your own question:
>maybe just forget the whole thing........hey, this is supposed to be a
>family vacation......the reason I'm going is to have fun and be with my
>family........that's the reason that most of my equity investments are
>with mutual fund managers. <grin>...... hmmmm......maybe my last idea
>is the best!
You have already done the hard (and most important) work: you have spent
time and money determining what your target asset allocation should be.
You have also, presumably, done your mutual fund homework. Now you get to
enjoy yourself!
We usually recommend that our clients review their portfolios no more than
quarterly. It may feel a little scary at first, but if you're truly
following an asset allocation strategy, there's little you will accomplish
by such frequent monitoring.
If you live through quarterly monitoring on your vacation, consider keeping
this approach after you return. You will have more time available for
other activities.
Now 2-1/2 months without e-mail, that's a different story. : - )
Have a good trip!
Hope Feinglass, CPA, CFP
Director of Tax & Financial Planning
Money Minds
http://www.money-minds.com
------------------------------
Date: Thu, 8 May 1997 21:20:57 -0400 (EDT)
From: "Schafer, Rick" <schaferr@eng1.otis.com>
Subject: Investment Clubs?
Anyone know how I can find out if there are investment clubs in my area?
Rick Schafer
------------------------------
Date: Thu, 8 May 1997 21:21:55 -0400 (EDT)
From: Sandi Rollins <srollins@econ.Berkeley.EDU>
Subject: Dow Jones News Service - Anyplace Other Than Prodigy?
Quick question:
My father-in-law subscribes to Prodigy for one reason: he can get the
Dow Jones News Service "pushed" to him every time he logs on. The "push"
service highlights any activity or news report on his "top 10" selected
stocks.
He'd like to find another ISP, *if* he can get this service. Is something
like this available? I checked out the "investment" links from the
HyperFAQ, and didn't see anything like this....
Thanks in advance,
Sandi Rollins
------------------------------
Date: Thu, 8 May 1997 21:24:15 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: Debt Loads and Walking Softly
>From: johnel@ix.netcom.com
>Subject: Walk Softly and Carry a Minimum Debt Load
>Just pointing out the necessity of saving up and paying cash for things we
want or need :)
>Walk softly and carry a minimum debt load,
>John Leipold
John
I agree with you that it is not financially sound to pay high interest on
debts (credit cards, cars, etc). Keep spreading the word.
I just say it a little different. Walk softly and carry the MAXIMUM debt
load that you can pay off at the end of the month WITHOUT interest.
Credit cards are really a loan to me with no interest for 1 month.
Therefore I want to charge everything I can on the credit card and then
pay it off at the end of the month. I follow your advice and pay off my
credit cards in full at the end of the month. I have never paid credit
card interest in over 20 years. In addition to no interest, I get
frequent flyer miles on the credit card purchase. These frequent flyer
miles gave me and my wife a free trip to London last year.
BOB FORD
------------------------------
Date: Thu, 8 May 1997 21:26:13 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: Joint Tenancy
DAVID AND MEIRA ZUCKER
I am not an attorney and the following is not legal advice. It is just my
opinion. It is based on my experience in California. The laws of your
state may be different.
Please check with an estate planning attorney in your state on the exact
wording that is required to show your assets are held in joint tenancy. A
few states do not recognize ownership by joint tenancy except under very
special conditions.
These states usually require it to be between husband and wife and some
states do not allow it in real estate. Some states required a written
agreement between joint owners for joint tenancy to be effective.
Tenancy in Entirety is recognized in only a few states and is limited to
married couples. Basically it is joint tenancy with the right of
survivorship between spouses.
The important thing is that your intention on the ownership of assets is
clear and can be understood by a judge. Some ownership documents even
say assets are held as "Joint Tenants with the right of survivorship, not
as tenants in common".
Property held in joint tenancy can not be in unequal shares. That is one
joint tenant can not own 1/3 of the property and the other joint tenant
own 2/3 of the property.
Probably the best thing about owning something as joint tenants is there
is NO PROBATE and probate cost.
The 3 big problems with joint tenancy are:
1: Creditors of any joint tenant can place a lien on the property.
2. You do not get a stepped up basis for the whole property at the time of
death.
3. The property CAN NOT be willed to anyone.
I want to stress that you should get good legal advice for estate planning.
BOB FORD
------------------------------
Date: Thu, 8 May 1997 21:28:17 -0400 (EDT)
From: BOB FORD <BOB_FORD@compuserve.com>
Subject: Re: College Fund For Children
There has been some recent discussions on how best to give children money
and avoid taxes on the money AND not make it available to the children
before they enter college. Most people also want the money to not be
included in the estate of whoever gave the gift.
Here is an idea for your consideration.
Buy state and/or municipal zero coupon bonds in the name of the child.
Get the bonds that have a physical bond (not a book entry bond) and take
custody of the bonds and lock them up in a safe deposit box. Do not put
the child's name as a person that can open the safe deposit box. Buy
bonds that mature when the child starts college. You might have some
bonds mature the first year of college and some the second year, etc.
I do not recommend you tell the child where the bonds are being held
however if you did it would not be a big problem as they could not get the
bonds to sell them before they mature.
Can any see any problems with this idea?
BOB FORD
------------------------------
Date: Thu, 8 May 1997 21:29:56 -0400 (EDT)
From: Kevin Jung <kjung@hawaii.edu>
Subject: What Are Platinum Credit Cards?
A couple of friends and I have been getting offers for "platinum"
credit cards recently, but I'm at a loss as to what these things are.
I'm assuming that they have some bells and whistles over and above
what gold cards offer, but haven't been able to find any explanation
on the net or elsewhere. Can anyone out there shed some light on this?
Thanks,
Kevin
(Editor's Comment - Total marketing gimmickry. -IK)
------------------------------
Date: Thu, 8 May 1997 21:34:50 -0400 (EDT)
From: Susan Mangiero <mangiero@shu.sacredheart.edu>
Subject: Companies Responding to Female Participatin In Sports?
I'm posting this query on behalf of a colleague. He is interested in
knowing what companies are public (i.e. offering possible investment
opportunities to the general public) and are responding to the growth in
female participation in sports, professionally and also with respect to
varsity games. Thanks.
Dr. Susan M. Mangiero
Sacred Heart University
(Editor's Comment - Nike? Reebok? BTW, I think the new professional
women's basketball league will be a smashing success. Women's basketball
is much more team-oriented than men's basketball, which too often consists
of 5 overgrown whiners fighting for "minutes". -IK)
------------------------------
Date: Thu, 8 May 1997 21:35:58 -0400 (EDT)
From: jay@one-o.com (Jay)
Subject: Q regarding taxes ...
Yes, the tax time is over but one of my friend has a question regarding
taxes.
This year he paid most of his money to Uncle Sam. Basically, he is single,
separated, renting. Only deduction he had was 401K and the standard
deduction. Money he is making is in the range of high figures.
What he is interested is in finding out, are there any other ways he can
try or do this year so that he does not have to pay to Uncle Sam all his
money next year. Bascially he says that he paid a lot of money in taxes
this year and would not like to do the same next year. It hurts a lot when
you do the hard work and somebody else gets the reward.
Any/all replies are welcome. Please email them to the address above.
Thanks a bunch.
------------------------------
Date: Thu, 8 May 1997 21:41:16 -0400 (EDT)
From: Bob Herlien <bobh@wave.mbari.org>
Subject: Re: Traveling for 2 1/2 months
> Hi, my family and I are about to go on the road traveling the U.S. in a
> motorhome. We'll be gone about 2 1/2 months. The problem is how to do the
> mutual fund downloads while I'm on the road. I use Quicken and
. . .
> maybe just forget the whole thing........hey, this is supposed to be a
> family vacation......the reason I'm going is to have fun and be with my
> family
I agree with this last sentiment. If you've picked decent funds, they should
be OK for a couple of months, barring a major correction. And even in the
latter case, what'ya gonna do? Try to market time? I'd stay invested through
the correction anyway.
> - - I'm guessing that a type of cellular modem may be available, but we
> will be staying in remote locations, which may or may not have cellular
> service. It appears that I will have to stick with a type of land-line.
I don't have cellular myself, but I understand that service is pretty
widespread nowdays. If you just want an occasional update, I'd go this way.
You're going to be going through towns occasionally, right? Your spouse
could be driving while you're doing a download.
> distance call. I'm thinking of signing up with AOL since they have a
> 1-800 number (maybe that will be less expensive than a long distance
> call). I don't know........
There are numerous national ISPs that provide better service than AOL.
Take a look at http://thelist.iworld.com, and try "USA Nationwide". One
service I've heard very good things about, though never tried, is IBM.
http://www.ibm.net. Their blurb says "500+ access points in the US."
- ------------------------------------------------
Bob Herlien
MBARI (Monterey Bay Aquarium Research Institute)
bobh@mbari.org
------------------------------
Date: Thu, 8 May 1997 21:41:56 -0400 (EDT)
From: "Barry H. Rodin" <brodin@pica.army.mil>
Subject: [hartwig: Re: Paying Bills Less Than $2 - You Should Do It]
...
Several years ago I received a bill from Sears for $0.02. I paid it for the
reasons discussed above.
- ----- End of forwarded messages
I would have sent them a check for $0.03.
Then they would owe you money!
Barry
------------------------------
Date: Thu, 8 May 1997 21:43:07 -0400 (EDT)
From: Jeff Morgan <Morgajs@parsec.com>
Subject: Re: Jim on the road
Hiya!
www.bigfoot.com will forward your mail anywhere,
and also allow you to forward mail to it, so you
can get your mail if you have a web browser
accessible. Many of the services are free.
There are several places that will email quotes
to you periodically, free of charge, you might find
links at www.pcquote.com, www.quote.com,
www.dbc.com, and www.merc.com.
Good point though, this *is* a vacation, however
extended it may be, right?!
You must be doing something right to be able to
afford the luxury of a 2.5 mo vacation!
(I'm in the computer biz, so I'm planning on taking
my 2.5 mo. vacation about Jan 1 - Mar 15, yr 2000...
Cheers, enjoy.
- --
Jeff Morgan - mailto:morgajs@parsec.com
------------------------------
Date: Thu, 8 May 1997 21:44:11 -0400 (EDT)
From: Jeff Morgan <Morgajs@parsec.com>
Subject: Pro-consumer legislation
SB 133, sponsored by Sen. Joan Johnson of Adams County, Colorado
was signed 4/23/97 by Gov. Roy Romer. The law takes effect 8/1/97,
affects Colorado residents, and requires (all three!) credit bureaus
to provide a free copy of consumers' reports once a year.
The bill also requires credit bureaus to correct errors within 30
days or face court action, and provides for fines of up to $1000
per day if they fail to remove and/or correct erroneous info after
being so ordered by the court. The bureaus must also notify
consumers in writing when adverse information is included in a
credit file.
This all started when Sen. Johnson's application for credit was
rejected, and she subsequently discovered several errors on her
credit report. In a CNN interview, she mentioned that on her credit
report(s) there were two bankruptcies for *other* women with similar
names, but different Social Security numbers, birthdates, and
addresses.
She said it took her three months to have the information removed,
and admitted that if it had not been for her position in the state
government, she'd probably still be fighting the battle.
Good job, Ms. Johnson, and thanks, from those of us who have been
in similar situations.
Now it's time to preserve our rights to the privacy of our Social
Security numbers. It shouldn't be necessary to disclose it to register
for school, check out a library book, donate blood, or buy auto parts.
I'm a Colorado resident, and I've been asked for my SSN for these
reasons in the past year.
- --
Jeff Morgan - mailto:morgajs@parsec.com
------------------------------
Date: Thu, 8 May 1997 21:52:44 -0400 (EDT)
From: Charles Cilek <chuck@cygnus.dis.anl.gov>
Subject: Child cashing savings bonds
[Bank won't cash 10 year old's EE bonds or checks, Bank Manager
mumbles something about "federal policy"]
According the Savings Bond FAQ at
http://www.publicdebt.treas.gov/sav/savefaq.htm
Note: If your child is old enough to understand the transaction
and sign the request for payment, he can cash the bond himself if
he provides the required identification.
[If this isn't "federal policy", what is?]
If the Bank Manager then mumbles something about a 10 year old
"not understanding the transaction" (after all, the Bank Manager
probably doesn't :-)
Also from the same FAQ (the FAQ used the example of a daughter,
so pardon the pronoun switch):
7.1) Can I cash bonds registered in my daughter's name
Yes, if the child is too young to sign the request for payment and
understand the transaction, payment can be made to either parent
with whom the minor lives (or to whom legal custody has been
granted).
The request would be made on the back of the bond as follows:
"I certify that I am the parent of Jane Doe with whom
Jane Doe resides (or to whom legal custody has been
granted). She is ___ years old and is not of sufficient
understanding to make this request.
John Doe on behalf of Jane Doe"
Local financial institutions that redeem savings bonds can pay
bonds in the circumstances outlined above. When a local
institution is unwilling to use this optional authority to redeem
bonds, the signature of the person requesting redemption can be
guaranteed or certified at a bank or financial institution, and
the bond is sent to the nearest Federal Reserve Banks that handles
savings bonds. [address available on website]
Personally, I wouldn't go the FRB route. If they still stonewall,
I would ask the BM for the Bank President's name, address,
and phone number and also the Bank Manager's full name.
As for checks, the child is a holder in due course, and there is
nothing in the Uniform Commercial Code about minimum age. Ask the
BM for the written policy about under 18 checks. When she mumbles
about "federal policy" ask for the written citation. Rhetorically
ask if the 16 year olds working at McDonalds have to wait until
18 to cash their checks. Consider moving to a bank with a clue.
------------------------------
Date: Thu, 8 May 1997 21:54:13 -0400 (EDT)
From: Eric <er@clark.net>
Subject: Re: Paying Bills Less Than $2 - You Should Do It
> From: Bob Hartwig <hartwig@gate.net>
> There are two reasons why you should pay a bill, no matter what the amount,
> 1) You bought it--you owe the money for it. Taking a good or service
I didn't get the impression that anyyone objected to taking responsibilty for
the small bill. I guessed the original poster was saying he would leave the
small balance to be rolled onto the next bill. Or not.
> 2) The same computer that generates a bill for $1 or $2, despite the
> transactions costs, will also blindly generate a negative mark on your
> credit report. It will cost you a lot more time and effort than it is worth
Never heard of one of those $2 negative marks yet. But when I want to pay a
small bill efficiently, I have found that Security First Network Bank will pay
any specified amount electronically if possible and by paper check if necessary
for no transaction cost to me. http://www.sfnb.com
------------------------------
End of persfin-digest V4 #33
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