Your goal on these calls is to convert the customer service rep to your side so that their goal is to make you happy. Most people in customer service are there because they want to please others; you want tap into that bent.
Here are some easy tips:
1. Be Respectful: Make them feel important and validated. Ask them their name, if they did not give it, and use that in the conversation.
2. Show Gratitude: thank them.
3. Recruit Them: Use terms like “we” and clearly state your objective so you turn the call into a mission, with the representative committed to helping you accomplish it.
4. Remain Calm: Avoid trigger words, anger and any swearing. Otherwise you risk losing the bond you created. Maintain the position of being empowered to get what you, as the customer, deserve.
5. Communicate Your Determination: Be clear that you are not going anywhere until your mission is accomplished. Be clear that you are not taking any brush off.
6. Escalate: If you are not making progress, then escalate: ask to speak to a manager. Many representatives are judged by the number of calls referred to managers or supervisors, so asking may prompt them to be more helpful.
This approach may take practice (and patience). However, it is quite effective, so you are likely to see good results.
Achieving a Better Life Experience Act – first look
President Barack Obama recently signed the Achieving a Better Life Experience Act (ABLE Act). The ABLE Act allows individuals and families to open tax-free savings accounts to save for long-term needs associated with an individual’s disability.
These accounts are modeled after 529 college savings accounts. To qualify, a person must be diagnosed with a disability resulting in “marked and severe functional limitations” by the age of 26. An account can be established for an individual without jeopardizing that person’s eligibility for federal programs such as Medicaid. The funds saved in these accounts can be used for a variety of expenses including transportation, housing, employment support and health care.
Like 529 plans, earnings in these accounts grow tax-free, but contributions are made with after-tax dollars. Accounts can be set up at financial institutions and the annual contribution limit is $14,000. ABLE accounts are allowed to accrue up to $100,000 in savings without affecting a person’s eligibility for government aid such as Social Security. This is a great improvement for ABLE account holders over the current asset limit of $2,000. Medicaid coverage would continue no matter how much money is in the accounts.
These accounts can be a useful planning tool for those living with or caring for someone with a physical or developmental disability.
Plan now to avoid surprises from the Affordable Care Act when filing 2014 taxes
2014 was the first year Americans had access to health insurance options through the Affordable Care Act (the “ACA”). With this new access to insurance came the obligation to purchase it or face new tax consequences. If you opted not to buy health insurance in 2014, you may be faced with a penalty when you file your 2014 tax returns. Even if you did buy insurance through one of the insurance marketplaces, you may have new tax forms to complete and some surprises when it comes to your refund or tax bill.
For most taxpayers, the impact on their tax filing will be minimal, requiring those who were covered to simply check a box indicating they had insurance throughout the year. Those who received subsidies to purchase insurance and who later had increases in their 2014 salary may be required to pay back some of that subsidy. Those whose salary decreased may receive a larger than expected refund.
As these provisions are new to everyone, there may be confusion for taxpayers and tax preparers alike. Unfortunately, due to recent budget cuts, the IRS expects to be able to speak with only half of the people who call in for assistance.
While gearing up for the 2014 tax season, it’s helpful to understand some the most important provisions of the ACA:
There’s still time to plan. Taxpayers facing a loss in premium subsidies because of an increase in income can reduce their income to qualify for the credits. For example, they can contribute to an IRA by April 15, 2015, for the 2014 tax year.
Side Hussle Series – Declutter & Make Money
We all have things lying around our homes that we have no use for anymore. Instead of holding on to them, sell them to someone who wants them and who will pay you for them. Look around, if you have unwanted electronics, clothes, furniture, books or CDs and DVDs, there’s a market.
Used Electronics – Those old phones, computers and tablets sitting around your home could make you some quick cash. Companies such as www.Gazelle.com, www.BuyMyTronics.com, www.NextWorth.com and www.uSell.com want your used electronics and will pay you for them. The items don’t even need to work! The process is largely the same for all four companies. Simply go to their websites, get a quote for your unwanted electronics, ship the items and get paid. These companies all provide free shipping and some are associated with national retailers so you can get paid right away.
Clothes, Shoes & Handbags – If you’re like me, you have items in your closet that you haven’t worn in years and chances are, you will never wear them! Consignment shops are a great option for helping you free up some closet space while making a little extra dough. A quick Google search will bring up consignment shops in your area. If you don’t have one nearby, try www.thredup.com. Thredup will mail you a bag for your unwanted items, with a shipping label so you can send your goods to them at no cost to you. They review your items and pay you up to 80% of the resale value of your clothes. Items that they don’t accept are either donated to a charity, recycled or mailed back to you.
If you have luxury clothing, jewelry or bags, you can try selling them through www.therealreal.com. They pay up to 70% of the item’s sale price. Like Thredup, The RealReal will send you a bag to mail in your luxury items. Alternatively, you may schedule a “White Glove Pick-up” with your Luxury Manager.
Furniture & Home Accessories – Like selling used clothing, consignment shops may be a good solution for selling your unwanted furniture and home accessories. These shops generally charge 50% of the sale price, but there are some advantages to selling this way. Namely that the consignment shops do the marketing for you and secondly, you don’t have to worry about strangers coming to your home. If you want to cut out the middleman, try www.Craigslist.com. Craigslist allows you to list items for free and buyers come to you. 100% of the sales proceeds are yours.
CDs and DVDs – Many independent music stores sell used CDs and DVDs. Search online for local shops in your area. Depending on the number of CDs and DVDs you are wanting to sell, they can often sort through your goods and let you know how much they can offer while you wait.
Books – There are plenty of online companies that are willing to buy back your unwanted books and text books. www.BookScouter.com will simplify the work for your by scanning 40 other websites and let you know which one will offer you the best price. For text books, www.amazon.com offers the most competitive buyback prices according to www.ExtraBucks.com.
With a little effort and some “letting go” you can free up some extra space and make a few extra bucks!
Budgets? “We Don’t Need No Stinkin’ Budget”
Budgets rarely work. It takes tremendous effort to accurately record all transactions so that you have a valid budget. Then, frequently, after all this effort, you rarely come back to the budget. That means that the work had no payoff. Furthermore, people often claim that they had nonrecurring expenses. Doing so, they artificially understate their expenses, not realizing each year has some nonrecurring event.
A much easier way to test savings is to take a twelve-month period, look at cash and credit card balances at the beginning and end, check for any inflows from gifts or other non-salary items, and then measure the change. Did the cash accounts go up or did the credit cards go up? That is your savings/dis-savings for that year.
Rather than doing a budget to adjust behavior, force a change. You can do that by removing money from your discretionary spending by contributing the maximum to a 401(k) plan, by an auto debit that put funds into an investment account, and other auto payments. If your credit card balances go up, then you have to make a decision to alter behavior, such as cutting entertainment, or decide to delay goals (retire later, no new car now, etc.)
How does cash flow relate to debts? Managing your debt means getting the lowest after-tax interest rate so that you pay as much principle with each payment to pay off the loan as quickly as possible. You can deduct the interest paid on a mortgage and an equity line of credit debt. You can deduct up to $2,500 of student loan debt. But you cannot deduct the interest on most other debt, unless used for your business (watch for a post on side hussles).