Handling Late Payments
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Handling Late Payments I don't know if I agree with Bob on this one. There's something to be said for making regular payments into the club. Some of us actually try to figure out, in advance of the meetings, how best to utilize our available funds. That's hard to do with you don't know how much is coming in. Clubs are a way for an investor to dollar cost average, a disciplined approach to investing. I don't think market timing has anything to do with contributions as Jimmy might suggest, however I do believe it's a consideration for when someone withdraws. There are plenty of occasions when members in my club have ponied up more cash because we had a stock finally come down to a good price. Even if only 1 or 2 members contributed more that month, we all benefited from the extra purchases.
We were all taught to follow a prescribed way of running our clubs until we knew what we were doing. It's refreshing to take a look at, and question, some of the rules we have in our clubs. And I think it's healthy to change them if they don't make sense anymore.
Lynn O. On Tue, May 6, 2014 at 11:15 PM, Thomas Wagoner <thomas.wagoner@gmail.com> wrote:
If you do have late fees, how do you record them in bivio. I know it is not suppose to be put in as a payment but where do you put it? On Tuesday, May 6, 2014 11:16 PM, Thomas Wagoner <thomas.wagoner@gmail.com> wrote: Tw Sent from
my T-Mobile 4G LTE Device -------- Original message -------- From: Bob Mann Date:05/06/2014 4:50 PM (GMT-06:00) To: club_cafe@bivio.com Subject: RE: [club_cafe] Handling Late Payments
And why do you care if someone is trying to time the market?
The money on hand is what the club has available to invest. Does it matter whether it's $380 or $750 this month? What if I have unexpected expenses this month so only invest $25 and get a raise and invest $75 next month?
It's THEIR money, not OUR money. How much an individual invests each month should be up to the individual; that they are actively participating in the club is the important part, in my mind.
Bob Mann
Lunch Money Investment Club
On May 5, 2014 at 9:00 PM James Dickerson <polymerguy@yahoo.com> wrote:
Dear Karen, A late fee is a penalty. You enter it using the "Fee" link you'll find next to the members name on the Accounting>Members page.Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Fri, May 9, 2014 at 8:31 AM, Karen Wilson wrote:
All this talk about late fees and now I am
confused. If we enter it into "fees", then it is just part of the club
accounting which everyone at some time will benefit from?
Thank you. I see it and was looking at it all the time and it obviously just didn't register. Thanks again On Friday, May 9, 2014 9:08 AM, Laurie Frederiksen <laurie@bivio.biz> wrote: Dear Karen, A late fee is a penalty. You enter it using the "Fee" link you'll find next to the members
name on the Accounting>Members page.Laurie Frederiksen
Invest with your friends! http://www.bivio.com/ Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Fri, May 9, 2014 at 8:31 AM, Karen Wilson wrote:
Dear Connie, "Fees" increase the value of everyones share of the club. They do not purchase units or affect member ownership percentages like "Payments" do. Laurie Frederiksen
Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Follow Us on Google+ Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe On Fri, May 9, 2014 at 9:28 AM, Connie Humble wrote:
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