I’m a big fan of credit cards because I love the cash back, fraud protection, and other benefits. But I know that a lot of people don’t care to use them for various reasons. If you are one of those people, then I recommend checking out eBillme for your online shopping. eBillme is a free service that gives shoppers the ability to shop online without giving out any personal information, including your credit card or debit card number. This protects you from identity theft, fraud, and lost or stolen information.

How eBillme works

eBillme is easy to use – just do your normal shopping at any of the more than 800 online merchants that support eBillme, then select the eBillme option when you check out. You will then receive an e-mail with your bill, which you can then pay straight from your bank account using bill pay – just like you would a regular bill such as your utility or telephone. You can pay eBillme from over 17,000 banks and 75,000 walk-in locations.

Here is an illustration of how eBillme works:

eBillme

Once you send your online payment to eBillme, they send the money to the merchant. It’s quick, easy, and free, and you don’t need to worry about sending any personal or financial information online.

Where can you use eBillme? You can eBillme is available at over 800 online merchants including Sears, Kmart, buy.com, tigerdirect.com, shoebuy.com, and others. For a full list of merchants, visit the eBillme.com Home Page, or go to the Debt Free Mall, which is the eBillme portal for online shopping.

Benefits of using eBillme

  • eBillme is probably the most secure way to shop online. Because you don’t enter any financial information on any vendor website, you aren’t at risk of having your information lost, stolen, or intercepted.
  • 1% Cash Back Rewards with eBillme. Just shop at your favorite online retailer, pay with eBillme, and start earning 1% cash back for every order at participating eBillme merchants. You can redeem the cash for purchases at eBillme merchant sites once you’ve earned $10 or more in rewards.
  • Additional benefits: Best Price Guarantee, Satisfaction guarantee, Fraud Protection, Shipping Protection.

eBillme promotions

The 1% cash back on all purchases is an ongoing promotion and is automatically applied to each purchase. eBillme also offers a deal of the day at the Debt Free Mall, and periodic special promotions such as a flat percentage discount, additional cash back, and more.

Current eBillme promotions:

Have you used eBillme? If so, I would love to hear your experiences.

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Avoiding Conflict with Your Supervisor

by Patrick on October 12, 2009

I’ve worked in several different professional environments in my career – the military, consulting, and now as a contractor on a large project. One constant I have seen is the conflict between supervisors and their employees.

Don’t get me wrong, most supervisors are trying to do their job and do what is best for the company. But there are always some supervisors who like to make work hard for their employees. Why? It can be a pure power play, to hide their ineptitude, to cover up their lack of work ethic, it could be pride, or it may just be personal. There is no definitive list of reasons.

Common traps include making you look bad, changing assignments at the last minute, changing due dates to make you miss an important deadline, taking credit or your work, lying to you or making you look like a liar, spreading rumors, etc. Again, the list is limitless. Fortunately, there are a few things you can do to help avoid conflict with your supervisor.

How to Avoid Conflict With Your Supervisor

The first thing you need to recognize is what is happening, even if you don’t understand why. Look for patterns or signs that you are being singled out and that this isn’t your supervisor’s way of treating everyone. It’s a lot more difficult to avoid conflict if your supervisor treats everyone the same way. Once you determine there is a pattern, try some of the steps below. You will find that not all of them will apply to you, and in some cases you will need to think out of the box. If you have additional tips to avoid conflict or have stories you wish to share, please leave them in the comments section after the article.

Talk to your supervisor.

Try to schedule a meeting with your supervisor to discuss the issue. Many people prefer to avoid conflict once it is out in the open. The key to this step is not to bring emotion to the meeting. Reiterate that your only goal is to help the team and ask for ways that you can improve your performance or provide more value. You will get a lot further if you take the approach of being a team player.

Avoid conflict and gossip.

Try to remove all emotion from the situation – regardless of what the supervisor says or does. Do what is asked without griping or pushing back. Don’t give the supervisor a reason to say or do anything that can be used against you. You may find it helps if you can keep conversation to a minimum and respond with minimal, “yes/no” responses, and avoid unnecessary opportunities for conflict. At the same time, don’t gossip about your supervisor or anyone else. If you have an issue with someone, take it to them personally. Don’t air your issues to your coworkers.

Make your supervisor look good.

Your boss is less likely to pick on you when you make him or your team look good. Contribute to meetings and projects, and be sure to spread the credit to the team. Drop your supervisor’s name in a favorable manner if it is merited. Avoid correcting your boss in front of his manager or a group of people unless it is necessary. Many times you can pull him or her aside and give the correct information afterward.

What about the supervisor who wants to take credit for your work? This can be tricky, and often the best way to handle this is to take credit before there is credit to be given. For example, carbon copy multiple team members and interested parties on progress reports, including your supervisor’s boss if you can get away with it. Blind carbon copy works great here too. You can also speak up in meetings regarding progress or give updates on a new feature you created. The key is to do it in a way that keeps everyone informed of what you are doing, but doesn’t come across as bragging.

Don’t be a target.

Arrive to work a few minutes early, stay a few minutes late, take short lunches, avoid hanging out in the break room or taking long breaks, etc. Leave a note on your office door or on a dry erase board in your cubicle when you are in a meeting or have an appointment. Be sure to write down the time you will return, and leave a pen for others to write a note for you. In short, don’t give your boss any reasons to call you out.

Document everything.

A common supervisor trap is to put you in a position where it is your word against his. Unless you have proof to the contrary, you aren’t going to win. So document everything. Archive your e-mails and files to your hard drive, and back them up to a thumb drive if you need to. That way your supervisor’s claims against you can be quickly corrected. Carry a notebook to meetings and everywhere else you go. Be sure to write down important dates, assignments, requirements, or anything else that is relevant to your task. You will then have written proof and it is no longer your word against his word.

*The purpose of this isn’t to be smug or trap your supervisor; remember we are trying to avoid conflict. So instead of throwing this back in his or her face, try gently reminding your supervisor that you believe the information you have is correct and you have it documented. Your supervisor will most likely stop trying to use this trap against you once he figures out he can’t win.

Repeat questions during conversations.

This goes hand in hand with the documentation. Repeat instructions or tasks that are given to you during or at the end of the conversation. Be sure to repeat the key information such as requirements, due date, and other important issues. This is another place where your notebook comes in handy. Be sure to jot down this information in front of your supervisor. This will demonstrate that you are paying attention making an effort to meet deadlines for the tasks you are assigned. It also gives you documentation to prove you were on target and makes it less likely your supervisor will try to move dates or change assignments on you in order to make you look bad.

Contact Human Resources of your supervisor’s boss

You want to avoid escalating the matter if possible. It’s messy and can lead to more tension in the workplace. But sometimes it is unavoidable. In most cases you want to leave escalation as a last result, however, if your supervisor is breaking laws or company policies, you are well within your rights to escalate the matter.

Equal Opportunity Rights and Federal Laws

The tips above refer to dealing with a boss that can be overbearing or just difficult to deal with. If you believe your manager is breaking federal equal opportunity employment laws, then you need to document your case and contact your human resources department.

The U.S. Equal Employment Opportunity Commission (EEOC) enforces discrimination against:

  • employment discrimination based on race, color, religion, sex, or national origin;
  • age discrimination which protects individuals who are 40 years of age or older;
  • individuals with disabilities and pregnant women;
  • (see overview of laws and EEOC home page for more information).

Individuals who file a discrimination complaint are also protected against retaliation. Just keep in mind it is also against the law to file a false claim.

Do you have any other tips to avoid supervisor conflict, or do you have any stories to share? If so, leave them in the comments section.

{ 5 comments }

The Major League Baseball regular season ended a week ago, and so did the fantasy baseball season. I was in a fantasy baseball league with a group of personal finance bloggers, and a couple friends who joined the league to help fill the ranks. The competition was fierce and there was a fair amount of trash talking, trading players, and good ol’ conversation about baseball. In short, it was a great time!

MoneyBallers-2009Fantasy baseball final results, and a recent article from their site:

  1. Cash Money All-Stars: Why You Should Only Bank at FDIC Insured Banks.
  2. Free From Broke: Ten Things I Learned Moving – And Tips, 25 Traits Of The Not So Well To Do, Raising a Child on One Income.
  3. Stupid Cents: 10 Excuses That Keep You in Credit Card Debt, Frugal Millionaires: How They Do It.
  4. 49k in Consumer Debt (no website).
  5. No Debt Plan Mortgage Payoff: Lump Sum or Monthly?.
  6. Jarheads Maniacs: VA Loans.
  7. MLR Fun Cooker’s: To Prepay Your Mortgage or Not.
  8. Budgets are $exy: So What If People Make Fun Of Our Frugality!.
  9. Steadfast Finances: I Haven’t Bought a Music CD in Over 10 Years..
  10. Seacub 2000 (no website).
  11. Penny Pinchers: How To Fight and Appeal Your Property Tax Bill.
  12. The Big Sticks: 2010 Traditional IRA to Roth IRA Conversion Tax Rules.

I had a lot of fun, guys! Let’s do it again next year! :)

Recommended personal finance and career articles:

This week’s carnivals:

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How to Rollover a 401k Plan into an IRA

by Patrick on October 7, 2009

When you change jobs you need to decide what to do with your 401k plan. There are 3 basic options: (1) cash it out, (2) leave your funds in your old 401k plan, (3) roll it over into an IRA or other tax deferred plan. Rolling your 401k into an IRA is often the best option as it allows to keep your investments in a tax deferred plan, avoid taxes and early withdrawal penalties, and give you total control over where and how you invest your money, the fees you pay, etc.

How to Rollover a 401k plan into an IRA

We’re assuming you chose option #3 from the above options. Doing a 401k rollover into an IRA is easy, and is basically a three step process: (1) open an IRA, (2) transfer your funds into an IRA via a trustee-to-trustee transfer or an indirect rollover, (3) allocate your funds. The second step is the most important because it can have an affect on your taxes.

Note: These steps are similar for transferring 401(k), 403(b), Thrift Savings Plan and similar tax deferred retirement plans.

Opening an IRA

The first step is opening an IRA, which only takes a few minutes. All you need to do is open an account with the financial institution if you don’t already have one, sign a form, transfer some funds, then allocate them. For more information regarding what to look for when opening an IRA, I recommend reading the article How to open an IRA, and following that up with Where to open an IRA for some great investment houses and brokerages.

Roll over your 401k assets into an IRA

There are two primary 401k rollover options to transfer your assets into an IRA – by a direct or indirect transfer. You can also transfer your money into a conduit IRA, which is a Traditional IRA set up to hold your old 401(k) assets until you move the money into another qualified retirement plan.

Indirect IRA rollover

With an indirect IRA rollover, you receive a check for the amount of your 401k plan assets, minus an automatic 20% tax withholding. You then have up to 60 days to deposit the entire amount that was in your former plan into a tax deferred retirement account. Otherwise the amount you don’t deposit will be treated as a withdrawal for tax purposes, and may be subject to income taxes and early withdrawal penalties. That means you need to come up with 20% out of pocket to make up for the amount that was automatically withheld. You will receive a tax refund for the 20% when you file your taxes the following year, but you are on the hook in the meantime. Thankfully, there is an easier way to rollover your 401k, which avoids any deductions or tax withholdings.

Trustee-to-Trustee Transfer of a 401k plan

A trustee-to-trustee transfer, or direct transfer, moves your 401k plan assets to another qualified retirement plan without having to worry about cashing it out and having to pay taxes or early withdrawal penalties. This way you can safely and easily transfer the funds in your account and not worry about coming up with 20%, forgetting to deposit the assets, or making any other mistakes along the way. The paperwork is easy to fill out, and most banks brokerages, or investment houses will be happy to do the paperwork for you. Once the paperwork is filled out, your new brokerage will initiate the funds transfer from your old brokerage and the transfer is made.

Allocate your funds

Most brokerages will allow you to elect which funds you wish to invest in before you transfer your funds from your former 401k plan trustee to your IRA custodian. However, some IRA custodians may just place the money in a money market account or high yield savings account until the transfer has been completed; then you need to allocate the funds according to your risk tolerance and investment needs.

Things to look out for when Rolling a 401k into an IRA

  • Rollover contributions do not count toward annual IRA contribution limits. You can still contribute up to the maximum amount allowed based on your age and income.
  • Most Roth 401k plans will automatically roll over into a Roth IRA, and a Traditional 401k plan will roll into a Traditional IRA. You can transfer a traditional IRA into a Roth 401k, but you will need to pay taxes and meet certain income qualifications. Consult with your broker or a financial planner for more details.
  • All 401k plans must allow you to transfer your funds via a trustee-to-trustee transfer.
  • Verify transfer eligibility, fees, and/or tax considerations before transferring your 401k plan.
  • You may wish to contact a financial planner if you have company stock in an old 401(k) plan.
  • When in doubt, consult with your broker or a certified financial planner before making any financial decisions.

{ 8 comments }

Should You Rollover a 401k into an IRA?

by Patrick on October 6, 2009

Changing jobs is always a busy time. You need to tie up loose ends at your old job, learn the ropes at your new position, maintain your professional network, and a host of other activities. One thing you shouldn’t stress about is deciding what to do with your 401k plan. Basically, it boils down to 3 primary options: (1) cash it out, (2) leave your funds in your old 401k plan if able, (3) roll it over into an IRA or other tax deferred plan.

The first option is rarely a good idea as you will have to pay taxes and possibly early withdrawal penalties. The second option can be a decent idea if you are happy with your old plan and your former company allows you to maintain your assets in their 401k plan.

Finally, the third option allows you to keep your investments in a tax deferred plan and avoid taxes and early withdrawal penalties. You can transfer your old 401k plan into a new 401k plan at your new company, move it into an annuity, or you can roll your 401k plan assets into an IRA. Rolling your 401k into an IRA is often the best option as it allows you total control over where you invest your money, the fees you will pay, etc. Let’s take a look at your options.

Should you rollover a 401k into an IRA?

We are going to make the assumption that you won’t cash out your plan, which leaves us with the choices of rolling your 401k into an IRA, leaving it with your former employer, or rolling it into your new 401k plan. Because your assets stay in a tax deferred retirement plan, the tax rules are essentially the same for all three choices. The main differences boil down to the rules and investment choices of the plan you choose.

Rolling over your 401k into an IRA

Rolling your 401k into an IRA is usually the best option because you have total control over how and where your money is invested.

Advantages

  • Total investment flexibility; you decide where and how to invest.
  • Account consolidation (easier to maintain record keeping and balance assets).
  • Option of moving your assets to a future employer’s plan.

Disadvantages

  • You can’t borrow from your assets.
  • Some investment options in a 401(k), such as company stock purchasing plans, may not be available in an IRA.

Related information: Here are tips on how to open an IRA and best brokerages for IRAs.

Leave assets in former employer-sponsored plan

This is usually the easiest option because it takes no effort on your part. Simply pack your bags and move on to your next place of employment. But just because it is easy doesn’t always mean it is the best decision.

Advantages

  • You may have investment options in the plan that are not available to you outside the plan.

Disadvantages

  • Limited investment choices.
  • Most likely cannot make future contributions.
  • Usually need assets totaling $5,000 or more to remain in former employer’s plan.
  • May have to cover a portion of the expenses.

Transfer to your new employer-sponsored plan

Most employer sponsored plans will give you the option of transferring your assets from your former employer sponsored plan when you enroll. You only have to fill out a form and the plan administrators will take care of the rest.

Advantages

  • Account consolidation (easier to maintain record keeping and balance assets).
  • Ability to borrow from your 401k.

Disadvantages

  • Limited investment choices.
  • May have to wait before you are eligible for the plan at your new company.

Keep retirement funds in a tax deferred retirement plan!

Whichever option you choose, try to keep your retirement funds in a retirement plan. Cashing out early will subject you to instant tax obligations and early withdrawal fees if you are under the minimnum withdrawal age. The taxes and fees can easily destroy more than a third of your hard earned investments. In addition to taxes and fees, you will set yourself back in your retirement planning. Unless it is an emergency, leave it alone!

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