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Most people think pennies are pretty worthless these days. But Coney Island Hospital sent a woman a bill for one penny. The hospital even paid a collection agency to go after the Brooklyn mother who owed one penny on a back surgery bill, according to the New York Daily News. The collector then proceeded to ruin Gloria’s credit over this penny. It took her seven years to correct her credit. This is ridiculous. Maybe hospitals should make sure they get the bill right in the first place. Then they wouldn’t have to chase down one penny.

Whenever Clark is on the road, he and the staff use “instant messenger” programs that allow them to have instant communication anywhere on the globe. There are several programs out there and they are mushrooming in popularity. AOL send 400 million e-mails a day, but they send five times that amount of instant messages every day. The problem is that your boss can read what you’re sending over “IM,” as it’s called, and it’s completely legal. You are using your company’s property, so they can read whatever they want. Even if you are not at work, the company can read your messages if you are using that company’s computer. In other news, you'll be able to send instant messages from one platform to another. That means that people who use MSN will be able to send to Yahoo's IM users. Just remember that anything you say could be seen by prying eyes.

Clark says that cell phone use has become dominant in the US to the point of it being dangerous. People are actually getting run over because they get so involved in their cell phone conversations and walk into traffic. We know that people get distracted while driving, but this is the other extreme. People are not attentive to what is going on around them. There are six big cell phone companies, which soon will become five. Cingular will become the largest and will most likely offer a plan of 1000 peak minutes for $39. This is a key figure for the industry because research suggests it is what people expect to pay. Cingular has a similar plan that lets you carry minutes forward, also know as “rollover minutes” that you can take into the next month. T-Mobile has also had the 1000-minute plan, but without roll over. But all of these companies have some shortcomings in their coverage. So people interested in signing up for either of these plans should check the coverage area of both providers first. Interestingly, there are now complaints that people are getting junk text messages on their cells phones. Some of this spam contains “adult content.” The question then arises…should you have to pay for incoming text messages that are unsolicited? It’s known as SMS or short message system. Clark doesn’t think you should pay for these messages. If you are getting charged for these junk messages, call your cell phone provider and let them know that you do not want to pay for the junk. They will work with you.

Clark talks a lot about life insurance in his books. It not a terribly exciting topic, but it’s important. Life insurance should basically be just death coverage. No savings payoffs; simple is better in this case. In fact, Clark finds that term insurance is now selling itself. People are shopping for simple death coverage. It is cheap and necessary. But because people’s lifestyles are not as healthy as they should be, or used to be, fewer people will actually qualify for the best rate – often called “super preferred” or “preferred plus.” But even the normal, preferred rates are very good these days. For instance, the New York Times reported that a 52- year old man could buy a 20-year, $1 million d policy for $300 a month. This is a great rate! As a general rule, ten times the family income is a good amount to buy. Look into buying from an A++ or A+ company only. The term you buy may be a 10, 20, or 30, year policy. It is offered with the same cost over the life of the policy. A top-rated company will have licensed sales people who will be knowledgeable about what you need. This is called level term insurance. Clark recommends that you contact independent agents. The help of a professional when deciding can be invaluable.

Clark wants us to consider how we will provide for our financial future. Alan Greenspan has warned that Medicare and Medicaid are in trouble, and Clark wants to see a more fundamental change. The government should level with the people and explain that we need a new way to provide for people’s retirement. People who are older tend to believe in these entitlements, but the younger, professional generation does not. This provides the government with an opportunity to level with the rest of the people. Clark proposes that we change the way people pay for their own retirements by having “mandatory savings accounts.” People would have to contribute to these accounts if they are under age 35. People in the next age group, but not ready for retirement, would have the choice. Gradually the government would phase out the current system. This creates a “stranded cost” situation, meaning that we have to continue to pay for those who are promised Social Security. But eventually, that burden will be reduced and the working population will only need to take care of their own retirement needs. This makes most sense for people who want to take charge of their own financial security and the terms of their retirement. The American people will respond positively to this. People who are under age 50 right now will get no appreciable social security benefits anyway. With this understanding, it is important to take charge of such planning now.

Clark wants to share what happened with his travel plans when he was recently in New York City at the time of the GOP convention. He was planning to stay in the city after his meeting, but he decided to go to Orlando to participate in a radio talk show conference. He worked out the details and flew Song airlines, a new, fun, proactive airline created by Delta. The food looked very good, although it was not included in the price of the flight. On the way back from the conference, Clark had the opportunity to fly with another radio host who has his own private jet. It was a fantastic flight back to New York City, but Clark found that a private plane is just too extravagant for him. It seems like such a waste of money. Even an expensive commercial flight is vastly less than the private plane option. When they got to New York City, Clark observed that demonstrators and protestors turned out in great numbers but they were very well-behaved. Some of the demonstrations suggested street theater. On a consumer note, tourists are not going to New York in large numbers, and that means that good deals are available for you. That means anything from entertainment to food to airline tickets are a great deal!