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A Message from Kimberly Clouse, Financial Expert:
I have worked in the financial services industry for
nearly a decade in many capacities, most recently as
a financial advisor for individuals. Over the course
of my career, I have had the privilege of working with
a diverse range of people, from the single mother just
starting her own business to the dot.com billionaire.
Based upon my experiences, I have learned that the same
basic principles and lessons apply to a successful and
healthy financial life, whether you're starting out
or cashing out. These guiding principles include simplicity,
a long-term perspective, and above all, knowing that
you have control of your financial destiny, and all
the information you need is well within your reach.
Minutes, Mail, and Money
Does this sound familiar? "I know I should spend time investing
and working on my personal finances, but I just can't seem
to fit it in." Most people I know want to be more financially
educated but are "road blocked" by a perceived lack of time.
One solution is to reduce the clutter in your life--starting
with junk mail--and spend those extra minutes reading the
financial pages, browsing finance-related Web sites, or participating
in an investment club.
According to the Consumer Research Institute, the average
American spends eight months of his or her life sorting through
unwanted junk mail; over 40% of all junk mail is thrown in
the trash, unopened and unread; and junk mail creates 4 million
tons of unnecessary waste every year. When you use your credit
card, order from catalogues, subscribe to magazines, etc.,
your name is added to databases from which lists are generated.
These lists are then rented and sold to direct marketers who
want to pitch their products and services to the people on
those lists.*
Fortunately, there are steps you can take to reclaim control
of your mailbox (and the commercial use of your name):
Stop the Junk Mail Kit: The Consumer
Research Institute offers the "Stop the Junk Mail Kit"
which uses a series of pre-addressed postcard mailers directed
to America's largest mailing list and financial list companies.
The companies targeted by the kit are the primary purveyors
of compiled name lists to direct mailers. For just $12.95
fee and a few moments of your time, the Institute promises
to remove your name from mailing lists; stop companies from
renting or selling your name; halt credit bureaus from selling
your personal financial information; and put an end to random
"Occupant" or "Resident" mailings that clog your mailbox.
If you prefer to remove your name from lists yourself, consider
the three organizations listed below. Their services might
overlap a bit, but in my opinion, there's no harm in launching
a comprehensive attack on junk mail:
- Mail Preference Service: The Mail Preference Service
(MPS) is a free consumer service sponsored by The Direct
Marketing Association, the oldest and largest national trade
association serving the direct marketing field. You may
register with the DMA's name removal file by mailing your
name(s), home address, and signature to:
Mail Preference Service
Direct Marketing Association
P.O. Box 9008
Farmingdale, NY 11735-9008
When you register with MPS, your name is placed on a "delete"
file that is made available to companies four times a year--January,
April, July, and October. Registrants typically notice a
decrease in the amount of advertising mail approximately
three months after their names are entered into the file.
- Telephone Preference Service: Through the Direct
Marketing Association, you can also remove your name from
telemarketing lists. The Telephone Preference Service (TPS)
is a free "do-not-call" service to assist consumers in decreasing
the number of national commercial calls received at home.
You may register with this do-not-call file by sending your
name(s), home address, home telephone number (including
area code), and signature to:
Telephone Preference Service
Direct Marketing Association
P.O. Box 9014
Farmingdale, NY 11735-9014
- Opt-Out Request Line: To offer pre-approved credit,
many credit card companies and lenders utilize the databases
of the three national Credit Reporting Agencies--Equifax,
TransUnion, and Experian. If you'd like your name removed
from their lists, call the Opt-Out Request Line at 1-888-5
OPT OUT (1-888-567-8688). An automated attendant will ask
for your personal identifying information, including your
Social Security number, and will remove your name from these
lists for two years. If you wish your name to be permanently
deleted (a choice that is reversible, should you choose),
you can leave your information, and a form will be mailed
to you for this purpose.
Although most of these services can take as long as 3-4 months
to take effect, the benefit is well worth the wait. Just think
of how much more time you'll have to spend on more productive
activities!
*For more information on how mailing lists are
compiled, send a stamped, self-addressed #10 size envelope
for a copy of the consumer booklet Opening The Door To
Opportunity to:
Consumer Services--Opening the Door
Direct Marketing Association
1111 19th Street, NW--Suite 1100
Washington, DC 20036
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