The promise – or the threat – depending on how you feel about it – is that we’re going be a “paperless society.” 

I love the idea.  I tend to be clutter phobic by nature.  I love the idea of “paperless” from a double green point of view:  save trees by going to online banking and commerce instead of monthly bills in the mail; and save money by not paying (soon-to-be 43-cents) postage to mail monthly bills while being able to handle my financial responsibilities and needs from anywhere with the click of a mouse.  In fact, I get a bit grumpy when a service provider doesn’t have an online bill payment option. 

When will this “paperless society” be fully here?  In the not-too-distant future.  But until that happens, we all need to follow (and clean up) our paper trails which undoubtedly lead to the files, desk drawers, boxes and brown paper bags that hold the details of our financial lives. 

If you’re done doing your taxes – start your shredders! 

Spring’s in the air.  It’s cleaning time.  You’re ready to sort through the paper clutter.  So let’s purge the paperwork.   As I wrote last week (http://thethinpinkline.com/category/women-and-money/) in $hredded Bliss Part 1 – shred http://electronics.pricegrabber.com/paper-shredders/p/463/) anything that has your personal information on it.    

Worried you won’t know which financial records to keep and which ones to shred? 

Keep for life:  Documents that represent life altering events like birth, death and marriage certificates, adoption papers or dissolution of marriage decrees; annual retirement plan savings summaries; home property records.

Keep for as long as you own:  Documents dealing with a potentially taxable investment or asset (and keep for an additional 7 years after you no longer own the asset).  Vehicle registrations, warranties, repair receipts and owner’s manuals (and then I think it’s wise to keep all the transfer of ownership documents for a couple of years after.)

Keep for 7 years:  Most tax related documents and other vital paperwork.

Bank accounts are so varied these days – remember I’m the avowed online bill payer – that I checked with some of my former colleagues from CNN business news regarding how long to hold the paper files for brick-and-mortar bank accounts.  The consensus: 

• Dispose of canceled checks after a year if not related to taxes or the purchase of a valuable asset
• Keep bank statements for 7 years
• ATM receipts and deposit slips can be shredded as soon as you check activity against your monthly statements
• Shred bills after six months to a year
• Hold on to final statements of discontinued services for 2-3 years to show proof of accounts paid in full
• Credit card statements can be shredded after a year (if not needed for tax purposes)
• Loan payment paper receipts keep until the loan is paid in full

Don’t panic if you shred something that’s important.  One of the benefits of being part of the  ”paperless society” is that financial institution are required to keep copies of your bank, brokerage and credit card statements for seven years.  Though it may be a bit of a hassle, an expense and not necessarily expedient – most documents can be re-created as certified copies. 

Comment posted by Bhanu to last week’s post #2291 “$hredded Bliss” and Social Security Numbers: 
Hi Valerie, Thanks so much for the post. Many organisations have now taken steps on issuing other forms of identity in place of SSN. But every departmental/grocery store chain does ask for SSN on their website when applying for a job. It is impossible to proceed without providing SSN. When I called, I was informed that online application is the only way to apply and even if you come to our store, you will be filling it online. There is really no way around it. That put me in a fix. I opted not to apply after weighing in the security consideration, though all these sites have a good encryption certificate. What would be your course of action?

Response:  The SSN dilemma is real.  Everyone’s ready to say protect it and issue dire warnings about what happens if you don’t.  But when it comes to applying for a job, even though potential employers can’t by law demand that you provide it, sometimes it is impossible to proceed through a job application process without giving it.

I enlisted the aid of several sources to give you the most comprehensive answer to your question. 

First, my answer.  I would not have let worry about my Social Security number stop me from applying for a legitimate job.  I would have filled out the online application because it was a secured encrypted site. 

Second, my friend and trusted financial writer/author for Lightbulb Press, Virginia Morris agrees and wrote:  “You’re right to be concerned that someone could steal your identity if they had your SSN.  But I wouldn’t let that stand in the way of a job opportunity, especially from an employer whose site is encrypted.  Until substitute forms of identity take hold, you can protect yourself by keeping track of what’s being reported to credit rating agencies about you.  You’re entitled to free credit reports three times a year, one from each of the major credit reporting agencies.  Just go to www.anualcreditreport.com every four months.  You’ll know right away if someone else is using your identity.  If you respond quickly by contacting any creditor that you haven’t opened an account with or that claims you’re not paying on time, you should be able to resolve misuse of your identity.  And, if it makes you feel any better, more than two-thirds of identity theft occurs offline.  (http://lightbulbpress.com/)

But Lois Cohn, Assistant Editor at Kiplinger’s Personal Finance Magazine says:  “You did the right thing.  While a potential employer has the right to request your Social Security Number, you shouldn’t have to enter it into a website.  When I asked ID Theft guru Scott Mitic, CEO of TrustedID, Inc., about your dilemma, he suggested you provide a made-up SSN on the site.  Then, once the hiring process progresses, and the employer performs a background check, you can give the company your actual SSN off-line.  That way, you’ll lower the risk that your personal information will be exposed.”  (http://www.Kiplinger.com)

Edmund Mierzwinski, the dedicated and fiery consumer program director for the National Association of State Public Interest Research Groups (PIRG) says:  “Social Security number protections are not what they seem.  The government established the use of Social Security numbers to regulate Medicare, Social Security benefits and taxes, but the government allows others to use the numbers without regulating how they are used.  Government and business do not want consumers to have control over their financial DNA, but they also don’t want to be held responsible if there is a security breach.”  (http://www.uspirg.org/)

Finally, so what does the Social Security Administration itself say about protecting our nine digit SSN?  Sorry, Bhanu but regarding your question - the official government agency simply says:  “Giving your number is voluntary even when you are asked for the number directly.  If requested, you should ask: why your number is needed; how your number will be used; what happens if you refuse; and, what law requires you to give your number?  The answers to these questions can help you decide if you want to give your Social Security number.  The decision is yours.”

Here’s to your health and wealth.

TAGS: clearing financial clutter, paper shredders, paperless society, purging financial papers

There is no place like the workplace to project feelings and experiences from your family of origin onto the wrong people.  The similarities between families and the workplace make that all too easy and common.  Just like a family, your workplace has someone who is in charge — when you were young it was your Mom or Dad and at work it’s management.  Feelings you may have had about your siblings can be projected onto your co-workers.  And then there are the rules, how they’re enforced, and feelings about whether you’re treated fairly or not. 

I recall coaching a 20-something woman a number of years ago who could not understand why her boss treated her so unfairly.  He didn’t recognize her talents, wouldn’t let her take the ball and run with it, and gave some of the best assignments to her male co-workers.  Although I had to agree he was a pretty bad boss, it was her over the top reaction to him that was creating problems for her.  When I asked her about her experiences with her father she lit up and talked about how supportive he was of everything she did and what a wonderful relationship they had.  Bingo.  She expected all male authority figures in her life to treat her as her father did.  She kept trying to “correct” the situation and make it the same as when she was young. 

Then there was the woman who was capable in all ways, but when she had to make a presentation in front of men (not women) she crumbled.  As it turned out, she had a brother who teased her mercilessly and the sight of all these men in front of her reduced her to the little girl from childhood.

Walking the thin pink line requires you to separate your childhood interactions with friends and family from those you currently have with management and co-workers.  You are no longer a little girl and the people around you are not your family (even though some workplaces would like you to think of it as such).  Here are some tips for how to do it in the moment:

• When you find yourself having an extraordinarily strong reaction to someone at work, take an emotional break.  Ask yourself who from the past this person reminds you of and how that may be impacting your behavior.  Then re-frame the situation and adopt new strategies for healthier interactions.
• When it comes to management (the boss, company president or other executives) consciously tell yourself that these people are not your parents and you can interact with them adult-to-adult.  In other words, re-write that script and respond like an adult woman, not a child. 
• Don’t be trapped by the repetition compulsion.  Sometimes we remain in bad workplace situations for too long because they’re familiar to us and think this is how the world is supposed to be. It’s similar to a woman who chooses one bad husband after another.  She’s choosing based on old experiences.  If you’re being abused it’s time to cut bait.
• If necessary, don’t hesitate to get into counseling as a means of understanding how your past is impacting your present and identify new strategies for living a more fulfilling life. 

TAGS: working with a difficult boss, working with challenging co-workers, workplace relationships

Thank you to the team at LinkedIn for inviting me to write a guest post for the LinkedIn Blog’s “Seek Week,” which is dedicated to helping ‘09 grads find jobs.

LinkedIn has also launched a great resource for graduating seniors (and all college students and recent grads), the ‘09 Grad Guide and a discussion group featuring helpful articles, job postings and Q&As.

Here is an excerpt from my guest article, “Stop Job Hunting Like It’s 1999: Dos and Don’ts for ‘09 Grads”:

Job hunting is a journey, so I’d like to begin this post by paraphrasing from my favorite movie about a journey: The Wizard of Oz: We’re not in the 20th Century anymore, Toto.

This is the sentence I find myself thinking whenever a college student says something like, “I’ve sent out, like, a hundred resumes and I still haven’t found a job!” Emailing out resumes and waiting for a response used to be a perfectly decent strategy for finding a job. Not anymore. Today’s job seekers, especially ‘09 grads job hunting in a recession, need to be more creative, more proactive and more tech savvy than ever before. We are blessed to live in a time when there are so many new job hunting tools and techniques. Take advantage!

Here are some tips:

DO mix the personal and professional. The line between personal and professional is pretty fluid these days, and that’s a good thing for job seekers. Your network can and should include friends and family. (That’s right; there is no shame in “linking in” with your parents!) It’s important to email and talk to everyone you know—friends, family, professors, neighbors—to ask if they know anyone who might be hiring. Now is the perfect time to reach out and say, “I’m excited to share the news that I’ve graduated. I’m in the process of job hunting and would be grateful for any advice you have or introductions you’d be willing to make…”

DON’T wait. In today’s super-fast world, a job can be snapped up based on something as brief and fleeting as a 140-character “tweet” on Twitter or a status update on LinkedIn, so you must move fast. If you see a job announcement, discussion topic, scholarship announcement or any opportunity that appeals to you, go for it immediately. When I post opportunities or questions, I am always most impressed and intrigued by the person who responds first.

Click here to read the rest of this article on the LinkedIn Blog…

TAGS: career advice, Job hunting, social networking

Overheard on a New York City bus:

Late thirty-something year old mom to her three or four year old daughter: “Honey, do you see that building over there with the flags? That’s where Daddy asked Mommy to marry him.”

Daughter: “Oh.”

Mother: “If you were getting married tomorrow, which of the boys in your class would you marry? Would it be Tucker or Nolan or Carlson or Spencer or….”

Daughter: “I don’t know.”

Mother: “I think Nolan is the sweetest. He’d take the best care of you.”

Hmmm…. Think about the messages that little girl is getting about marriage and what it means.

On the other hand, I’ve recently heard about two young women who’ve made the choice not to marry the guys they’d been seriously dating when it came time to make the final decision. One came to the conclusion that her fiancé’s attitude about money was so fundamentally different than her own that they would never be able to reconcile them. The other realized that her fiancé’s marriage proposal, coupled with a “request” to convert to his religion meant she’d have to give up too much of herself.

Smart women. Better to give serious consideration to these and other issues important to you before you marry than to try to solve them afterward. These women know that, married or not, it’s up to each of us to take care of ourselves.

TAGS: Marriage, mothers and daughters

Now here’s a new one.  A career test that can help you identify your work  preferences based on the colors you prefer.  I took it myself and was surprised at how accurate it was.  Jessica in my office took it too and it was only maringally on target.  It’s called The Dewey Color System and takes just a few minutes to complete.  If you’re wondering what kind of career you’re best suited for and have a little time to kill — go for it.

TAGS: Career Builder, career choices, career testing, Dewey Color System

To shred it or not to shred it?  That should never be the question when it comes to getting rid of any papers that contain  any of your personal information.   

Your Social Security number, credit card number, bank accounts and other information that uniquely identifies you – must be protected.  If not, you’re a prime target for identify theft which is now considered the largest white-collar crime in the history of the United States.

Identity theft is when someone uses your personal identifying information to commit fraud or other crimes.  Let me be clear:  identity theft can happen to you.  The Federal Trade Commission says  it will happen to 1 in 6 Americans this year alone.

So how do you protect yourself, your good name , your personal information? 

Start by buying a shredder.  You can get a basic one for under $20 ( http://electronics.pricegrabber.com/paper-shredders/p/463/) although I recommend spending a bit more to get a cross-cut shredder or my personal favorite – a confetti cut shredder.  Talk about $hredded bliss! 

Some other ways to protect your personal information:

• Safeguard your Social Security number.  It’s the ultimate key for fraudsters to successfuly access your account.
• Know when you’re required to give out your unique nine digits aka your Social Security number – and when you’re not. 
• You must list it when you do your taxes, open a new bank account, get a line of credit and get a driver’s license. 
• Medical offices and utility providers might ask for it but know that you are not required to give it to them. 
• Never give out your number if someone calls and requests it to verify your information.
• Don’t trust caller ID – fraudsters have technology to make the call look like it’s coming from a legitimate financial institution.
• Always be careful where you store your Social Security card.  Never keep it in your wallet or car glove compartment and never print it on your personal checks.
• Never send your Social Security number in an email, mobile text or on a website in order to complete a purchase.

If you’re on a secured website where you must include any personal information, make sure you are not using a public computer.  And it’s a not a good idea – when using your own computer with free Wi-Fi – to enter your information.  Sad but true, hackers have multiple ways of intercepting technology.

Some other tips to avoid falling victim to identity thieves:

• Be skeptical of charities.  I’m not being a grinch.  It’s just that scam artists will try any tactic to get your money or information.  A legitimate charity that solicits you on the phone will honor your request that they send information to you in the mail.
• Be cautious with retailers.  Many now ask for you phone number or email address when you make a purchase.  It’s usually for their database to market additional products and services to you.  But just because they ask – you don’t need to give.
• If you’re job hunting, a potential employer should only get your Social Security number if they hire you.

You can’t absolutely stop identity theft from happening to you – but you can sure make it less likely. So when it come to protecting your personal information - the rule of thumb:  when in doubt, don’t give it out.  And when getting rid of any document that has any of your personal information on it:  don’t ever toss it out, instead shred!

Here’s to your health and wealth!

TAGS: bank accounts, federal trade commission, fraud, Identity theft, paper shredders, social security number, tips to protect personal information

I’ve talked about how to get and keep the job you want in this economy but Renee wrote in asking how to get a better job.  After being laid off from one job she took another for less money but with the promise of  it being more interesting.  It wasn’t.  She wants to know how to trade up.

The pickings are slim these days for mid- to senior-level professionals but if you’re currently employed in a relatively “safe” job, that gives you the opportunity to be selective.  Here are some suggestions for Renee and others like her:

• Do not let your guard down in your current position.  Keep doing what you’re doing not only well but with excellence.  The last thing you want is be unemployed again.  This will only cause you to feel desperate and take whatever comes along. 
• Seek promotional and/or educational opportunities.  The company has invested time and money into recruiting, on-boarding, and training you.  Chances are they wouldn’t want to see you leave.  Identify other positions within the same company for which you might be better suited.  If that’s not possible, then find ways to learn new skills to add to your resume. 
• Consider going back to school.  If your current employer has a tuition assistance program, this is the time to invest in your future.  What led me to getting my Ph.D. was being bored silly in a secure, high paying job.  I put my creative energy into getting an advanced degree that eventually allowed me to “trade up.”
• Assess how you chose “wrong.”  You thought the job was going to be interesting, but it wasn’t.  Somewhere along the line you assessed the situation incorrectly.  Learn from this mistake and in the process what are the absolute must-haves in the next job.  Until you know this, you’re not ready to make a move. 
• Network, network, network.  This is how people find the hidden or not yet advertised jobs.  Attend at least 2 – 3 professional association meetings monthly and bring resumes and business cards so that you are prepared to let others know of your interest in jobs they may know about. 
• Review previous blogs on getting the job you want.  Just type in “job search” in the space to left and you’ll find plenty more suggestions for how to get the job you really want. 

The bottom-line is that you won’t find the job you really want until you’re crystal clear on what that job is and what elements it contains.  Then you can move full steam ahead — even in this economy.  Employers are attracted to those with clarity and enthusiasm.  Of course it’s assumed you’re willing to put in the time and do the leg work needed to trade up.

TAGS: earn more money, find a better job, Get promoted

It’s no secret that I love to network. But, after a fabulous event or conference, even I have faced that pit-of-the-stomach feeling when I look at the business cards I’ve collected. I wonder, “How am I going to follow up with these people? Will I be bothering them if I call? Will email seem too impersonal? Is it presumptuous to friend them on Facebook?” So stressful!

Perhaps you’ve had the same concerns.

Over the years I’ve developed a plan to take the guess work out of follow-up. It’s super simple and works every time. When I meet someone I’d like to connect with again, I simply say, “I’ve really enjoyed meeting you, and I’d like to keep in touch. What’s the best method to reach you?”

This gives your networking contact the options to:

a) Politely blow you off by saying something like, “That’s really nice, but I’m quite  busy right now. I enjoyed meeting you too and hopefully we’ll run into each other again.” (Translation: I’m just not that into you.)

b) Tell you his or her preferred contact method.

If the answer is b (and it usually is if you’ve read the situation correctly), once you know where you stand and how to communicate, the rest is easy. Follow up exactly as instructed, and your fabulous contact will be eagerly expecting your communication.

TAGS: Networking

Many women struggle with how to walk the thin pink line with regard to expressing pride in their accomplishments.  Show too much and you’ll be considered egotistical but now we know that if you don’t show enough pride, you will damage your credibility.  According to research recently reported by Benedict Carey in The New York Times, pride is the strongest “status signal” among emotions.  An excerpt:

“The implications of this are hard to exaggerate. Researchers tend to split pride into at least two broad categories. So-called authentic pride flows from real accomplishments, like raising a difficult child, starting a company or rebuilding an engine.  Hubristic pride, as Dr. Tracy (who led the research) calls it, is closer to arrogance or narcissism, pride without substantial foundation. The act of putting on a good face may draw on elements of both.”

People who demonstrate the right kind and amount of self-pride are seen as leaders.  And, as importantly, they feel like leaders. Their belief in themselves is contagious.  Those who don’t fail to convince people to follow.

Yes, the right kind of pride in the right amounts can help in many situations.  Lois wrote about Susan Boyle the other day and, as Ann pointed out in her comment, Susan’s courage to pursue her dream is indeed inspiring.  I would add that her courage to believe in herself despite the odds she faced contributed as much to her success as a sensation as her magnificent voice.  She knew her voice would wow them and it did.

What can we learn from this research and from Susan?

• Don’t blame yourself for things you can’t control.  If you lost your job as a result of the poor economy, that’s not your fault. It’s not a reflection of your knowledge or skills. It is what it is.

• Don’t feel compelled to share your concerns about your lack of experience about a particular subject with everyone.  Sure, get a pep talk from someone you trust when you have moments of self-doubt but be sure that his/her interests aren’t impacted.

• Don’t allow yourself to become a victim of “Impostor Syndrome”.  That’s when deep down, you think that the success you’ve enjoyed was a fluke. that you were just lucky – and you constantly worry that someone will find out that you aren’t as good as people think you are.

Keep your chin up and a healthy amount of pride in your demeanor.

TAGS: Leadership, pride, self-confidence, Self-trust, Susan Boyle

I believe in assets -  of the wallet and of the heart.  Let’s take a moment to count the one’s of the heart and why we should count on them.  

I was the recipient of an extremely nurturing form of perfectionism that came from the loving hands of my 20-year old mother.  Vivien (Vicki) Baxter married my Dad William (Bill) Dickerson (with her parents’ permission) three weeks before her 17^th birthday.  When I was born, I became her real life doll and she took exemplary care of me.  Everything she did for me and with me was as perfectly orchestrated as she could make it.

Perfection had been an important and early discipline for this child bride to master.  Though she was the teenage wife of a young Army/Air Force lieutenant who was just a few years her senior, she was a military wife now – in the midst of “older women” already in their 30s! 

Her perfection for being stylishly appropriate was one of my Mom’s greatest assets.  She practiced what she learned on me.  Where did she learn this grown up sense of the life and style she wanted to provide me?  From my Dad. 

 The story goes:  A few weeks after they were married, he arrived home to change into his military dress uniform and pick up Mom for a squadron party.  He found her dressed like the 17-year old that she was – in her best pleated skirt, white Angora sweater, matching socks and black Mary Jane shoes.  Dad told her she looked beautiful and that he’d like her to save the outfit to wear when just the two of them went out to dinner because in the Air Force there was a sort of uniform for wives too.  “The older women usually wear a cocktail dress,” he said.  “Let’s go get one for you!”

 And so it was that every Friday of those early months of my Mother’s married life that my Dad would take her shopping for her “uniforms”.  One Friday it was for hats.  Another it was for shoes.  The next – for suits.  Yet another for purses and so on.   And so it was with that history and evolution of my Mother’s perfectionism into which I was born and grew up. 

My parents have been gone nearly six years now – first Mom then Dad six months later.  They’d been married 61 years.  This story is always a special memory to me for how tenderly Bill brought Vicki into the world of older – women of a certain age.

 It was this environment that taught me to recognize the value of different kinds of assets in our lives.  Money is an asset and certainly matters.  We should make deposits into our savings and retirement accounts on a regular and committed basis.  

But memories matter, too.  They’re priceless assets and should be considered valuable deposits into our emotional bank accounts.

 Here’s to your health and wealth!

TAGS: Assets, emotional assets, mothers, parents