Comments on: Installing Financial Red-Light Cameras

By: Carnival of Personal Finance #224 – National Dog Week | My Life ROI, Getting the Best Return On Life

Mon, 28 Sep 2009 09:44:06 +0000

[...] Wojciech Kulicki from Fiscal Fizzle presents Installing Financial Red-Light Cameras. [...]

By: Wojciech Kulicki

Wojciech Kulicki — Sat, 26 Sep 2009 18:04:28 +0000

I really try to focus on three or four ‘main items’ that require my attention – daily transactions, bills, budgeting, etc. This lets me worry less about the rest (which is just as important but would detract my focus) and let alerts take care of letting me know if there’s a problem.

I do worry that one of those pitfalls could creep up, but I think the chances are small, and I think I would still catch it in time for the damage to be minimal. I see it more as ‘touching lightly’ on those items, not being completely ignorant of them.

By: Wojciech Kulicki

Wojciech Kulicki — Sat, 26 Sep 2009 18:00:31 +0000

You’re absolutely right – I worry sometimes that with too many inactive accounts, the risk of identity theft goes up. It’s one of the reasons I’ve simplified my financial structure.

Alerts are a great way to counteract this without closing accounts (which of course, can have a short-term effect on your credit).

By: Wojciech Kulicki

Wojciech Kulicki — Sat, 26 Sep 2009 17:58:54 +0000

Although I don’t currently use Mint, this is one of the features that I really enjoy getting every week (my Mint account is still live). It’s a great overview of the major things going on with my finances and usually reminds me of a thing or two I need to get done!

By: MoneyEnergy

MoneyEnergy — Sat, 26 Sep 2009 16:43:54 +0000

Good to point out the potential pitfalls of the alert system – I think the first one is probably why I still do a lot of things manually rather than have them on automatic – I want to be sure the right things are happening etc., but I could probably fit a few alerts into my system (such as when bills are due, at least) and will consider this more going ahead.

By: Saturday Staples: Personal Finance Reading : Yielding Wealth - Personal Finance Tips – Money Management Advice

Sat, 26 Sep 2009 14:37:21 +0000

[...] Installing Financial Red-Light Cameras from Fiscal Fizzle. [...]

By: Kyle

Kyle — Wed, 23 Sep 2009 12:40:08 +0000

I love alerts on my accounts. I use Yodlee and setup an alert on all of my “stagnant” credit cards to alert me if there is ever a single transaction on the cards. You can do this for all types of accounts and it is a great way to ensure your card hasn’t been compromised and keep it open with a low amount of risk.

By: MLR

MLR — Tue, 22 Sep 2009 14:44:18 +0000

The pitfalls you mention of the finance alert system mirror that of an actual red light camera system!

But you really unleashed the power of Mint here. My g/f gets weekly emails from Mint and I’ve opted for monthly emails. It summarizes the information and makes it palatable. Every week/month we are able to read a quick email to make sure everything is in check. (We pretty much know this on a daily basis, but it’s nice to get big picture reminders, too!)

By: Personal Finance Buzz

Personal Finance Buzz — Tue, 22 Sep 2009 12:19:07 +0000

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