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The Club PUBlication 09/25/2023

9/25/2023

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FALL PRIME TIME FOR A ‘MONEY CLEANSE’
By KIMBERLY PALMER

If summer is a season of spontaneity and indulgence, then fall offers a counterpoint: It's a chance to get back on schedule, and back on budget.

"Summer, with travel and no school, tends to be a really spendy time. The fall is a nice reset," said Ashley Feinstein Gerstley, a certified financial planner and author of "The 30-Day Money Cleanse."

Gerstley said giving yourself a "money cleanse" offers a chance to carefully go over your spending and financial habits so you can make any necessary changes to end the year strong. With inflation and economic uncertainty in the background, that's no easy task, but putting in the extra effort now can pay off.

Here's a step-by-step guide to a fall financial cleanse that could help get your budget on track for the rest of the year: Nate Hoskin, a CFP and financial assistant at Brightside, a provider of financial wellness to employees, said the first step to a fall financial cleanse is to look backward, starting with your New Year's goals. He suggests checking on progress toward resolutions set in January so you can make any needed adjustments.

Then, Hoskin said, initiate what he calls a "financial audit," which means tracking all of your spending over the last couple of months by poring over credit card and bank statements. From there, you can see what unexpected expenses popped up or why it has been so hard to save.

"With inflation, it's extremely challenging, and you might find your budget didn't work even if you did everything right, because some things are out of your control," he added.

He suggested giving yourself the chance to make small changes going forward without dwelling on previous missteps.

"Knowing where our money is going is a huge shift and can help us change our habits," Gerstley said.

If you don't yet follow a budget to help you track your spending, then the fall is a great time to give one a try, said Ashley Lapato, a financial expert on TikTok. "I always think the first step is a zero-base budget," she said, which means every dollar is accounted for, including money set aside for savings and any debt payments.

"It forces you to confront spending decisions and to get really clear about financial priorities," she says, because you comb through every little bit of spending.

Lapato likes to start each day with a quick check of her own budget. For fewer than 5 minutes every morning, she logs in to her budgeting app or checks her bank account and financial goals.

"Doing this has changed my perspective. It puts me in the right brain space in the morning if I'm looking at bills, goals and things I want to accomplish," she said.

Stuart Boxenbaum, president of Statewide Financial Group, a financial advisory firm, said that with interest rates rising, this fall is also a great time to aggressively pay off highinterest or variable-rate debt, such as credit card debt.

"Before you sock away other money into savings, pay off high-interest debt — if you're paying 18 percent or higher on a credit card, then it's a no-brainer. Pay off the debt first," he said, because yields on savings accounts are far lower than those interest rates.

A money cleanse should also include a tax checkup, said Karla Dennis, an enrolled tax agent and founder of Karla Dennis and Associates, a tax and accounting services firm.

"You could go all year long and assume your withholdings are on point, but you might be short," she said, which would mean a surprise tax bill in April if too little taxes have been coming out of your paycheck.

To avoid that fate, she suggested using the IRS' tax withholding estimator tool. Enter your personal information and get an estimate of how much to withhold so you can make any necessary adjustments for the remaining months of the year.

If you were recently married, received a pay increase or started earning extra money through a side hustle, then estimating your withholding is especially important, Dennis adds, because you might be at a higher risk of withholding too little.

Budgeting, debt and taxes aren't exactly words that people associate with fun. That's why it's so important to also build treats into your budget, Lapato said, because doing so can actually help keep you on track.

"Sometimes, we need that serotonin boost," she said. For her, that usually means splurging on a new blush or book.

"Instead of feeling guilty, I have it built into my budget as its own category," she said, adding that she sets aside a bit of money every month for this purpose.

Palmer writes for NerdWallet.

"It [daily check of budget] puts me in the right brain space in the morning if I'm looking at bills, goals and things I want to accomplish."
Ashley Lapato, a financial expert on TikTok

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The Club PUBlication 09/18/2023

9/18/2023

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STEP RIGHT UP! BUY A CURE BACKED BY SCIENCE WORDS!
By RINA RAPHAEL • New York Times Illustration by NURI DUCASSI • Star Tribune / iStock

You can't browse a grocery store or pharmacy without being subject to labels that promote health benefits. In the beverage aisle you might find "prebiotic" sodas that supposedly support "gut health." In the beauty department, you'll see "medical-grade" serums, "probiotic" facial creams and "skin detoxing" treatments. Go to the supplements section for promises of "immunity support," "hormone balance" and "energy enhancement."

Marketers have been using scientific-sounding buzzwords to sell products for centuries. But it's becoming more common, said Timothy Caulfield, a research chair in health law and policy at the University of Alberta. Caulfield coined the term "scienceploitation" to describe how brands borrow language from emerging areas of science to market unproven products.

Scienceploitation crops up in far more places today than ever before, including in search results, on social media platforms and from influencers, Caulfield said.

Consumers are often inundated with confusing options as more companies position themselves as healthy. Buyers are prioritizing scientific evidence, said Sienna Piccioni, an analyst and head of beauty at WSGN, a trend forecasting company. But they can't always separate fact from fiction: A 2021 study suggested that people who trust science were more likely to share false claims that contained scientific references than claims that didn't.

In December, the Federal Trade Commission revised its guidelines for health-related products, emphasizing that companies should support health claims "with high quality, randomized, controlled human clinical trials."

But experts said it was unlikely that the commission could closely monitor how companies marketed their products, at least not without a huge increase in funding.

"There are just too many brands," said Kevin Klatt, an assistant research scientist in the department of nutrition sciences and toxicology at the University of California, Berkeley.

So, for now, we're on our own. But you can still arm yourself. Here are some marketing tactics to be aware of.

Long ingredient lists
Companies often try to cash in on fads such as adaptogens and activated charcoal, which you can find listed on items including cookie packaging and toothpaste tubes. Even ingredients that are known to be effective can be manipulated: Beauty and skin-care brands, for instance, might use 0.2% of vitamin C in a moisturizer even though evidence shows the amount would need to be higher to have any effect, said Michelle Wong, a cosmetic chemist who runs the blog Lab Muffin Beauty Science and helped popularize the term "science washing" in beauty circles.

This is why it isn't necessarily helpful to scour a scientific-looking list of ingredients, she said. Most don't say much about the quality or quantity of each ingredient, nor how it interacts with other ingredients or its stability — all of which affects efficacy.

Vague terms such as 'boosts'
Manufacturers use words without clear and specific definitions, such as "aids,""promotes," "supports," "stimulates," "boosts" and "optimizes" to suggest positive health outcomes. There's no quantifiable way to measure an ambiguous word such as "support," said Jonathan Jarry, a scientist and science communicator with McGill University's Office for Science and Society.

Supplement companies, which do not have to prove effectiveness to the Food and Drug Administration, frequently rely on the terms used above. But there's often a small disclaimer on the bottle that says the product "is not intended to diagnose, treat, cure or prevent any disease."

"They're implying the product works, and then on the same label, much less visible, is the fact that there's no evidence that it works," said Josh Bloom, director of chemical and pharmaceutical science at the American Council on Science and Health. Still, he said, people see a word such as "supports" and might assume the product will treat their symptoms.

Other phrases — including "clinically tested," "research backed," "doctor recommended" and "evidence based"
— show up in the beauty or personal-care aisle and often lack the context they'd need to be verified, Wong said. With such terms, you should ask: What were the results of the tests? What was the quality of the research? Who conducted it? Was the researcher or endorser a legitimate authority in that field?

Questionable studies
Wellness brands might pad their websites with links to studies. But some are simply summaries of the emerging data without any mention of the product in question. Many companies include research unrelated to the claim. Evidence cited by a company "could be one poorly designed study," said Nick Tiller, a senior researcher in exercise physiology at Harbor-UCLA Medical Center. "It could be cherry-picked."
"What you want to see are the results of actual rigorous studies of the product itself, showing that it works," Jarry said. "But that's almost never the case."

Assessing claims
If you're trying to get a feel for the legitimacy of a product, the FTC recommends doing a search for the name of the product online, plus the words "review," "complaint" or "scam."

You can also check to see what respected professional associations and public health organizations such as the National Institutes of Health or the Centers for Disease Control and Prevention say about a specific product, protocol or ingredient, experts advise.

If an herbal supplement claims to address high blood pressure, for instance, you might search the sites of the American Heart Association or the American College of Cardiology, as these organizations often have articles, position statements and meta-analyses on them, said Dr. Danielle Belardo, a cardiologist who hosts the podcast "Wellness: Fact vs. Fiction."

When considering a buzzy ingredient or product, remember that "one exciting study" doesn't mean much, Caulfield said. Kombucha bottles often say they have "microbiomefriendly" benefits even though microbiome research is still in its infancy. Before shelling out money, give more credence to sources that include a larger body of evidence on a topic, he said.

And keep in mind no single ingredient can change your health overnight. If a product was indeed a cure-all, every medical organization would be rushing to endorse it, Klatt said. "Anything that sounds too good to be true is probably too good to be true," he added.

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The Club PUBlication 09/11/2023

9/11/2023

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Express gratitude to build morale
OUTSWIMMING THE SHARKS
HARVEY MACKAY

Harvey McKay

A young man was applying for a job at a big company. During the interview, the hiring manager asked if the candidate's father had paid for his education.

The young man said that his father had died when he was young. He added that his mother took in laundry to pay for his schooling. He offered to help her, but his mother always told him to concentrate on his studies.

The hiring manager asked the candidate to do him a favor and go home and wash his mother's hands and come back to see him in the morning.

The young man was confused but wanted the job, so he did as he was told. It was the first time he noticed how wrinkled and bruised his mother's hands were. He realized this was the price his mother paid for his education and future.

The next morning, he returned to the hiring manager, who inquired, "Did you do as I asked, and what did you learn?"

The young man nodded and said, "I learned appreciation. Without my mother, I wouldn't be where I am today. I also learned the importance and value of family relationships."

The manager said, "This is what I'm looking for — someone who can appreciate the help of others and who doesn't think money is the only goal in life. You're hired."

Appreciation is an essential need for all of us. Who doesn't want to be appreciated? Feeling genuinely appreciated lifts people up and makes them feel happy.

Gallup recently reported that only 15% of employees in the United States are truly engaged in their workplace.

Yet nearly 70% of employees say they would work harder if they felt more appreciated.

Motivational speaker and author Tony Robbins said, "Trade your expectations for appreciation, and the world changes instantly."

Legendary college basketball coach John Wooden said: "It is quite possible that the most abused, overused or misused word in our language is the simple word 'thanks.' However, when sincerely used, I know of no word that can more adequately express one's feeling of appreciation than 'thanks.' "

Appreciation should be an everyday occurrence, not an event limited to a special week or event. A plaque on the wall means nothing without ongoing support. Appreciation has a snowball effect, too.

The more genuine the appreciation toward employees, the better. For example, appreciation helps boost morale and confidence by demonstrating that a person is valued and trusted.

Appreciation also increases efficiency. Appreciated employees work harder, which affects results. Relationships are strengthened. Respect is heightened.

A young woman experiencing a lack of appreciation decided to do something special for her 13th wedding anniversary.

She called a florist and ordered 13 long-stemmed roses that arrived with a card that read, "I love you!" It was signed by her husband, Bill.

Bill was curious who would send his wife flowers and sign his name. Twenty days later, the mystery was solved when his credit card bill arrived.

Let's hope he remembered that lesson in time for their 14th anniversary.

Mackay's moral: Give appreciation for a little, and you will find a lot.

Harvey Mackay is a Minneapolis businessman. Contact him at 612-378- 6202 or email [email protected].

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The Club PUBlication 09/04/2023

9/4/2023

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We must stop attacking government

Several presidential candidates — including the ex-president threaten the very institutions they seek to lead.

Opinion editor's note: Editorials represent the opinions of the Star Tribune Editorial Board, which operates independently from the newsroom.

For as hard as they're campaigning for president, some Republicans seem to hate the very institutions and individuals they'd be leading.

Former President Donald Trump, the runaway frontrunner, has long referred to the federal workforce dedicated to serving our country as the "swamp" or "deep state." Or worse, when it comes to the Justice Department and FBI, two federal entities most Republicans used to defend before abandoning their principles in defense of the twice-impeached, thrice-indicted ex-president.

But the irresponsible rhetoric doesn't stop with Trump. Several others seem to be striving to out-hate Trump, including his closest rival, Ron DeSantis, the Ivy League-educated Florida governor who rails against perceived "elites" in government, education, health care and, of course, media.

DeSantis has also said as president he'd want a secretary of defense "who may have to slit some throats." He recently repeated that sick rhetoric, which in an earlier world would and should have disqualified him, in New Hampshire, where he said, "All of these deep-state people, you know, we are going to start slitting throats on Day One."

A similarly privileged Ivy Leaguer, GOP presidential candidate Vivek Ramaswamy, has leveled harsh rhetoric against the IRS and FBI, calling for their abolishment. Other GOP candidates, including Nikki Haley, have denigrated public servants, too.

Republican rank-and-file may be listening, according to Gallup, which reports that trust in institutions is at or near an all-time low.

"The part that I think is most disturbing of our current moment is that the folks we looked at as the responsible adults in the room have become orchestrators of distrust and vile attacks on the institutions that serve all of us," Larry Jacobs, director of the Center for the Study of Politics and Governance at the University of Minnesota's Humphrey School, told an editorial writer. "These are institutions that are the backbone of a country based on the rule of law. Disagree with what the president or Congress is doing, but don't attack those very institutions, their legitimacy."

If he returns to the White House, Trump has indicated that he would reinstate an executive order known as "Schedule F," which would reclassify thousands of federal workers as at-will employees no longer protected by civil service rules. So federal workers, already reeling from the vile, even violent, rhetoric from presidential candidates are now threatened with losing the system designed to professionalize governance so each new administration doesn't stock bureaucracies with unqualified political loyalists.

The federal government, like state and local governments and private-sector entities everywhere, is already contending with a worker shortage. What qualified candidate would want to go serve our country under these conditions?

But perhaps that's the point: Beyond Trump's dark campaign promise of "retribution" is a fundamental disdain for government and, accordingly, government workers.

That impacts this country — and beyond.

"It's really kind of shocking," Jacobs said. "It's not that long ago when America was held up as kind of a paragon for democracy, and one of the main reasons was civic culture. And what people meant by that was yes, there were ferocious disagreements of policy and personalities, but there was a basic agreement on the rules of the game." And decision makers "who understood the importance of trust in our basic institutions."

There still are people like that. People like Barry Black, a retired Navy rear admiral turned Senate chaplain. Black, who in July marked his 20th year of ministry, told Roll Call magazine in an interview marking the milestone that "We need to stop demonizing government and governmental workers" and better appreciate their role in "holding in check the chaotic."

Those are words Trump and others — including another Navy veteran, DeSantis — need to hear and heed. Indeed, those leading our government need to protect Americans from chaos, not create it.

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The Club PUBlication 09/25/2023

FALL PRIME TIME FOR A ‘MONEY CLEANSE’By KIMBERLY PALMER

The Club PUBlication 09/18/2023

STEP RIGHT UP! BUY A CURE BACKED BY SCIENCE WORDS!By RINA RAPHAEL • New York Times Illustration by NURI DUCASSI • Star Tribune / iStock

The Club PUBlication 09/11/2023

Express gratitude to build morale​OUTSWIMMING THE SHARKSHARVEY MACKAY

A young man was applying for a job at a big company. During the interview, the hiring manager asked if the candidate's father had paid for his education.

The Club PUBlication 09/04/2023

We must stop attacking government​Several presidential candidates — including the ex-president threaten the very institutions they seek to lead.

​For as hard as they're campaigning for president, some Republicans seem to hate the very institutions and individuals they'd be leading.

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FALL PRIME TIME FOR A ‘MONEY CLEANSE’
By KIMBERLY PALMER

STEP RIGHT UP! BUY A CURE BACKED BY SCIENCE WORDS!
By RINA RAPHAEL • New York Times Illustration by NURI DUCASSI • Star Tribune / iStock

Express gratitude to build morale
OUTSWIMMING THE SHARKS
HARVEY MACKAY

We must stop attacking government

Several presidential candidates — including the ex-president threaten the very institutions they seek to lead.

For as hard as they're campaigning for president, some Republicans seem to hate the very institutions and individuals they'd be leading.