The Virtual Woman: A Woman's
Weekly Guide To Cyberspace
If money makes the world go round, it's surprising more of us don't get
dizzy thinking about it. Add to it the glut of information the web brings
and it's no wonder even The Virtual Woman herself has considered just
stuffing her savings into her virtual mattress and calling it a day. But the
best way to tackle any problem, including how to find information on the
web, is to be able to ask the right questions--which many of you do, each
and every week! This week we're going to tackle a variety of money and
personal finance queries. Remember, if you have a question for The Virtual
Woman, don't hesitate to write or email. Mailing information can be found at
the end of the column.
Dear Virtual Woman:
I'd like to buy
small amounts of stocks, between $500 to $1000 worth, but I do not want to
get gouged by brokerage fees. I've heard that by investing directly in
companies I could avoid these relatively high fees. Are there any sites
online that could help me out?
- Caroline W., Durham, North Carolina
Dear Caroline:
Sounds like you're interested in Direct Stock Plans and Direct Reinvestment Plans, often times grouped together and referred to as DRPs. I've wanted to look into DRPs for a long time but given the time demands placed on The Virtual Woman, I've been unable to research all of the companies I'm interested in--an absolute must for effective DRPing. But if you’ve got the time, we've got some excellent resources online to help you learn more about the process and also to assist you in purchasing your stocks directly.
A wonderful first stop to learn more about DRPing in general can be found at www.dripinvestor.com. Dripinvestor.com offers users a free and highly informative newsletter as well as other resources for those interested in purchasing stocks directly. Additionally, another great resource can be found at www.moneypaper.com. This site has a free list of over 1000 companies offering DRPs. Moneypaper.com also has other services including a service that helps process stock purchases, but fees are involved for those. Remember, buy low, sell high and have fun DRPing!
Dear Virtual Woman:
The good news is
that I finally landed a great paying job a year ago. The bad news is that
I've gotten carried away and have racked up quite a lot of debt. Between all
of my credit cards, and the car I bought six months ago I'm seriously now
concerned about my situation. Heading into the holiday season is especially
scary for me. Is there a place out there in cyberspace that might be useful
to someone in my situation?
- Debbie The Debtor, Houston, TX
Dear Debbie:
Admitting that you have a problem is the first step. So give yourself some credit (ahem) for that. There is a wonderful organization called The National Foundation for Consumer Credit (NFCC) that exists both on and offline. This organization is a network consisting of 1300 local non-profit organizations that provide consumer credit education, confidential budget and debt counseling, and debt repayment programs to families and individuals. Because the NFCC is supported by banks and finance companies (to name a few) their services are available for either a very modest fee or, in some communities, there is no charge at all.
If you go to their site located at http://www.nfcc.org you'll find useful information on credit reports and how to get them as well as bankruptcy information. The "In Trouble" section offers warning signs of financial trouble. If you answer yes to any of the questions you are invited to take their free Debt Test, also available right online. The Debt Test will give you further insight into your specific debt situation and will also provide you with more information.
If you think you are ready to make an appointment, go to the site's Member Office Locator. All you do is plug in your city, state and zip code and information on the nearest office will pop us (and yes, we checked Houston and there is a local office!).
Debbie, please keep in mind that you are not alone. In 1997, a record 1.8 million Americans picked up the phone and called NFCC for help. Good luck and let me know how it works out.
Dear Virtual Woman:
Please, I just need a site that will give me financial news and stock quotes quickly. There's so much out there I'm overwhelmed.
- Just the Facts , Albany, New York
Dear Just the Facts:
The Virtual Woman feels your pain. There are so many sites offering stock quotes that it's hard to settle on a good home. For a real no-nonsense site that gives you the headlines and quick stock quotes I recommend CNNfn, the financial network, located at http://www.cnnfn.com. It's a fast load and a breeze to navigate.
Dear Virtual Woman:
I am almost embarrassed to write this but I'm about to retire and I know nothing about our family's finances. My husband takes care of it all but as we both grow older I am getting more and more concerned that I understand this whole money thing. Is there a place for me to start on the web where I won't feel so intimidated?
- T.N.
Dear T.N.:
Please don't feel embarrassed. Believe it or not, you are in good company. But I suggest you head immediately to Cassandra's Revenge, at http://www.stockscape.com/newsletters/cassandra/. This site offers investment, retirement planning, recommended links and a lot more. The entire site is done in a very female friendly, female affirming tone. One area you should take a look at is the Scary Statistic section where you'll learn factoids like: Ninety percent of women will be on their own financially, managing our own money, at some time in our lives. Fifty percent of all women over 65 years old in the U.S. are widows. Reading this information it will make you thankful you decided to look at this issue now.
So who exactly *is* Cassandra and why does she want revenge? Indeed, there is a very interesting and relevant answer to this question. To find out, however, you'll have to fire up that modem and log on!
Happy Surfing!
Find these links and more at WWWomen.Com (http://www.wwwomen.com) the web's largest search directory of topics for women online. Email the Virtual Woman with your Internet questions or send snailmail to: WWWomen.Com, Attn: Virtual Woman, 3701 Geary Blvd., #325, S.F., CA 94118. Copyright, 1998. WWWomen, Inc. All rights reserved.
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