Take a Day to Organize Your Finances
Money Matters Brandon Miller If you’re like most people, you periodically set aside time to clean out your home, garage or closets. It’s equally as important to take time to organize your finances. The following checklist can help you get started: Cancel unused credit cards If you’re paying an annual fee on a credit card or other account that you don’t use, you’re throwing money away. So, cash in any rewards points you have earned and then cancel the account. Of course, take into consideration whether canceling the card will negatively affect your credit rating. Cancel unused memberships If a new at-home exercise routine has replaced your trips to the health club or gym, or if you’re no longer playing
golf at a course you belong to, consider canceling your membership. Even if you have to pay a fee, you may quickly recoup your financial losses.
your will. So, if you’ve experienced a marriage, divorce, birth, adoption or death, make sure your beneficiary designations reflect your wishes.
Consolidate accounts You don’t necessarily need multiple checking, savings, investment, retirement or credit card accounts, yet many people maintain them—often because it takes extra time up-front to consolidate. Maintaining numerous accounts can increase the amount of time you spend opening mail, reconciling statements, keeping records and paying bills. When it comes to credit, you may also earn more rewards if you stick to one or two cards.
Review your home and auto insurance coverage Make sure your coverage reflects your present needs. Also, price shop the same coverage with different providers. Whether you switch to a new provider, or use this information to strike a deal with your current provider, you could save a significant amount.
Negotiate better deals with your service providers Whether it’s your cable, Internet or waste removal company, chances are you can negotiate a better rate. Simply take time to get quotes from competitors. If they are offering lower rates for the same services, go back to your service provider to see if they will price match to keep your business. If not, switch to someone new. Update your financial records Make a list of your current financial accounts, contacts and passwords. Keep this information in a safe and secure place. Update your beneficiary designations Your beneficiary designations override
Simplify your investments If tracking various investments is stressing you out, consider asset allocation or managed accounts. Attempting to manage and track too many investment accounts can require a great deal of time and, if you’re not on top of the details, can prevent you making the best investment choices for your portfolio. Consider working with a financial professional to help you organize your finances and help you determine what kinds of investments might work best for you. Consult your financial advisor for more ideas and strategies on ways you can save. Brandon Miller, CFP is a financial consultant at Brio Financial Group, A Private Wealth Advisory Practice of Ameriprise Financial Inc. in San Francisco, specializing in helping LGBT individuals and families plan and achieve their financial goals.
Two Fine Choices for Rideshare Driving
Auto Philip Ruth
Hyundai Sonata Hybrid
Chances are, you’ve been a rideshare rider. Uber, Lyft and Sidecar have transformed the previously cab-starved San Francisco into a place where a cheap ride across town is a few minutes and a couple of smartphone taps away. San Francisco has also proven to be the most profitable market for rideshare drivers; it’s where they make the most money. Which might beg the question: why not give it a shot? California law specifies that a rideshare car must be from model year 2005 or newer. That means you could pick up something inexpensive from Craigslist and fix it as you go, or you could buy or lease something new, and you’d have less vehicular downtime. One of the niches you can fill as a driver is with a vehicle that can seat six or more passengers (Uber XL or Lyft Plus, for instance), with potentially greater earnings. For that purpose, the Honda Odyssey I tested recently would be a good fit. Odysseys start just under $30K for the LX, and the one I drove was the value-priced SE, which for $33,375 includes includes a flipdown WVGA media screen for the second row. It also includes the Odyssey’s neat HondaVAC, an integrated vacuum cleaner that would be very helpful in cleaning up after the bar crowd. The Odyssey is the best-driving minivan. It’s sharper than the Toyota Sienna and smoother than the Kia Sedona. Its 248-horsepower, 3.5-liter V6 jumps the Odyssey from the line, and city mileage is a reasonable 1912
BAY TIMES OCTO B E R 2 9 , 2 0 1 5
Honda Odyssey SE
mpg, though you’d expect less on San Francisco’s hills. Handling has always been an Odyssey plus, and visibility is panoramic. In this niche, the Odyssey would be my first stop. Otherwise, hybrids are the best choice for their terrific city gas mileage. It’s why you see swarms of Priuses outside the Powerhouse on a Saturday night; in fact, it can be difficult to determine exactly which Prius you had requested. You might also consider the Hyundai Sonata Hybrid. Unlike the Prius, the Sonata Hybrid has a slightly weak initial throttle response. The combined 193 horses from the 2.0-liter four-cylinder engine and lithium battery are ample enough, but it can seem like the Sonata Hybrid is slow to get moving. Sport mode helps, and the rest of the Sonata is satisfying, with amiable reactions and a clear view out. According to the EPA, the Sonata Hybrid hits 40
mpg city, which would help to maximize your earnings. Inside, the Sonata Hybrid SE is quite nice for its $26K entry price, with attractive materials that feel durable enough for all the passengers you’d be ferrying. And the Forward Collision Warning (FCW) would be a help while scooting through downtown, though you’d have to add the $4,500 Ultimate Package to the $30,100 Sonata Hybrid Limited to get it. The Bay Area success of ridesharing might encourage you to look into becoming a driver yourself, and both the Odyssey and Sonata Hybrid would be right for the job. Philip Ruth is a Castro-based automotive photojournalist and consultant at www.gaycarguy. com. Check out his automotive staging service at www.carstaging.com