negotiation tactics & feeling strange: haggling down your credit card rate September 18, 2007

I called two weeks ago to request our credit card rate be reduced; they complied with a one percentage point reduction.

I’m torn on this whole issue. Because for the sake of true blue ownership — I knew the terms of this card and used it anyway, fully aware. Yet at the same time, my husband and I have been steady customers/consumers for years. I’d like to lean on our long term customer relationship with this company and re-negotiate, again, a better rate.

I’d rather my husband and I not apply for another card since it dings one’s credit report. Our available credit-to-debt ratio is reasonably healthy as well; this single VISA is our sole credit card with a balance (and the only one we utilize in emergencies).

By golly I’m knockin’ on their door again and will relay results.

More from:
CNNMoney just celebrated their 35th year; they released sound wisdom on improving one’s credit score plus included effective tips on negotiating lower credit card rates, assessing your salary is on-par with industry, & claiming tax exemptions to avoid overpayment to the Fed.

marital money mantra #3: giving gifts is not a license to be financially irresponsible August 30, 2007

Oh the irony of having vision with blurred discernment.

Mmmmmaybe that’s one of my top embarrassing fiscal decisions considering two things:
1) My ego thinks she’s fiscally disciplined;
2) In that same week I barked at my husband for over-spending.

Yup I’m rolling in imperfection! Dang if that mantra isn’t worth repeating and recycling over and over again in one’s marriage, partnership, whichever.

So for all our benefit, here ’tis again:

Holy Smokes(!)…giving gifts is not a license to be fiscally irresponsible.

More from:
The GiveWell Blog, an interesting blog that takes the gift-giving discussion to a community scale. They evaluate non-profits to gauge the appropriateness of their use of funding, including financial gifts from the average Joe. GiveWell also reviews the effectiveness of a non-profit’s service. That seems a prickly albeit relevant undertaking.

Savings fable + financial planner says his clients spend, spend, spend August 16, 2007

Stunned I say, stunned!

10 second video: how much his clients overspend per a DC-area financial planner

What drives that spending itch?

In a meeting with a financial planner this week, I asked him how much a higher income impacted one’s success at saving.

He then shared this story that knocked my socks off:

He generically referenced two of his clients — one was a grounds keeper and one was a leader at a university. Their retirement financials were similar; each wanted to retire in a year. The grounds keeper was overjoyed at the financial planner’s feedback: due to his conservative spending and aggressive saving habits, the grounds keeper could live comfortably on Social Security, with his retirement savings as buffer & as help for his grandchildren’s college costs. Yet the university leader, with a considerably higher income, agonized over his retirement nest egg. The financial planner said due to his over zealous spending habits & reluctant savings plan, he (the university leader) would not be able to maintain his living standard in retirement years. Or the other prospect was he could continue working and cut back costs.

…I promptly refrained from a Starbuck’s visit walking home.