Tuesday, September 29, 2009

Even for 401(k) - Vigilance Pays

This week we got proof again - as if we needed it - that you should always be vigilant where your finances are involved. I manage our finances using Quicken. It's my way of keeping an eye on all our accounts in one place and making sure that mistakes or even dishonesty don't whittle away at our resources.

Two examples from the past week:

Our dry cleaner charged us $40 to clean a single shirt. $4 was the agreed upon price, and somehow a zero got added to the mix.

A bigger mistake appeared in my 401(k) account. I noticed last week that my mid-month 401(k) contribution never showed up in my account. I waited a few days to make sure that no simple technical glitch was involved, and over the weekend I sent an e-mail to our HR person. Turns out that the company simply did not fund employees' 401(k) accounts since the HR person was on vacation. Hmmmm. Err, OK. That makes sense. Actually, it doesn't. They made the deduction from my salary but sat on the cash? That doesn't strike me as particularly fair.

Still, since this doesn't typically happen, I'll let it slide, I guess.

Our VP of Finance asked me how I found out that the account was never funded. He was pretty surprised to hear that I keep an eye on all my accounts through the magic of Quicken. I got my eye on you, dude. Stay away from my cash.

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