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Keith Whitaker

Being somewhat involved in the integration of Wachovia and Wells Fargo, I am fully aware of the questions and stresses people are dealing with these days. Customers and clients face the stress of wondering how products, services, and relationships will change. Even more broadly, people face the stress of paying bills and keeping up with debt.

There's also the stress of dealing with market volatility. A couple of months ago that stress stemmed from watching market declines — now it may stem from watching the market going back up and wondering when is the right time to get back in!

I never liked the word "stress." Perhaps because it's one of those words that by itself may evoke the emotion it designates. Often when people talk about stress, they actually get stressed. As you know if you saw my last post (Bouncing Back in Tough Times), I think it's much more helpful to focus on the positive, our resilience, rather than on stress.

In cardiac medicine, when folks with a medium risk of heart disease are worried about their hearts (due to various risk factors, such as smoking, family history, or high cholesterol), they undergo stress tests  to diagnose how well the blood flows through their arteries during exercise.

Certainly the market gyrations — whether up or down — feel to me like one of those tests. The intensity sometimes just appears to grow and grow, like a treadmill that won't stop rising.

But what can you do beyond getting tested? What can you do to help you make it through the ordeal or even to do well when you get to the other side?

Matt Wadley

In 2009, when streets across America are dotted every week with red (or blue or green) recycling bins, it's hard to imagine a time when being eco-friendly was not as common as taking out the trash. Yet it was only 39 years ago today that the first Earth Day  was celebrated.

Originally motivated by concerns about overpopulation , Earth Day now represents an opportunity for all of us to join together in appreciating the beauty of our planet and raising awareness about preserving our natural resources for the future.

Fast-forward 39 years, and we've all become pretty familiar with the most basic steps to accomplishing this goal, including conserving energy, using less water, and, of course, the mantra "reduce/reuse/recycle."  But if you're looking for more, check out this Top 10 list. 

In addition to reaching individuals, Earth Day has helped companies across the world re-examine the way they do business and reconsider how it impacts our planet. As such, Wells Fargo and Wachovia are proud to be environmental stewards, which is really just a fancy way to say that both companies are committed to doing business in an environmentally friendly way.

We also encourage our customers to partner with us in making a difference when it comes to protecting our natural resources. One of the easiest ways to join us in this mission is to sign up for paperless account statements and online bill pay. In doing so, not only can you simplify your banking, you help protect our environment.

PayItGreen™ , a coalition of financial services companies that includes Wachovia and Wells Fargo, has some incredible statistics about the positive environmental impact of choosing electronic payments, bills, and statements instead of paper. I mean, do you realize that Americans receive 19 billion bills each year?!? And according to their website, just a 20% reduction would save over 100 million pounds of paper a year!

But because from the very beginning we've said this blog is about you, I'll leave you with this more personal stat: By leveraging our paper-saving online services, you (YOU!) could save 7 pounds of paper, 60 gallons of waste water and 5 gallons of gas in the next year!

Now that sounds like a great way to mark Earth Day's 40th anniversary next year.

Ann Marie Quinn

Back in early March, President Obama unveiled the Making Home Affordable program , just one component of his administration's attempt to get the economy back on track by helping millions of homeowners avoid foreclosure by restructuring or refinancing their mortgages. Of course, we understand it can get a bit confusing trying to find out just who qualifies, who doesn't, what's required and so on.

That's why we're happy to have our very own Jason Menke shed a little light on and offer some basic info about Making Home Affordable. Jason's an Assistant Vice President and Communications Consultant for Wells Fargo Home Mortgage, which means he's sort of like a spokesperson — perfect for a guest blog! So without further ado, heeeeere's Jason....

Thanks, Ann Marie! So during the past several weeks a number of customers have contacted us wanting to know more about President Obama's Making Home Affordable program.

Wells Fargo and Wachovia are supporting it, and we've already started working with customers using two key approaches:

1. The Home Affordable Refinance program is designed to help homeowners with a current Fannie Mae- or Freddie Mac-owned loan take advantage of today's lower mortgage rates or help them refinance from an adjustable rate mortgage into the stability of a fixed rate. If you've got a solid payment history on your current mortgage, even if your home has lost some of its value, this portion of the plan may provide some assistance. This portion of the plan is available now through June 2010.
2. The Home Affordable Modification program was created to help homeowners avoid foreclosure by reducing their monthly mortgage payments by modifying their existing mortgage. To receive a modification, borrowers will have to provide some documentation regarding their income and provide proof of a financial hardship.

So here's the big question: How do you determine if your Wells Fargo or Wachovia mortgage is eligible for the program?

Well, there are some really cool tools at the Making Home Affordable website, including a "Loan Look Up"  that allows you to determine if your loan is owned by Fannie or Freddie. There are also some basic questionnaires  to help you figure out if you may be eligible for a refinance or a modification.

If the site says you may be eligible for a refinance, feel free to check in with your friendly neighborhood home mortgage consultant to see what next steps you might want to consider.

If the site says a modification may be the most appropriate first step, call the number on your monthly statement to work with our servicing teams.

Besides makinghomeaffordable.gov, you may also want to visit our website for a listing of the documents you'll need to have handy for either a loan modification or a refinance on our own Wells Fargo Home Assist page.

We hope this info is helpful! If you have any follow up questions, please let us know and we'll continue to do our best to answer them.

Matt Wadley

A few months ago, we cautioned you to think twice before you clicked that link, noting the potential for fraudsters to use the integration of our two companies as a springboard for creating fake communications (phishing) designed to steal your personal and account information. And while the online guarantees for both Wells Fargo and Wachovia cover your accounts for 100% of any fraudulent usage, we can't do the same when it comes to your identity.

You see, when a criminal steals your info, not only can they steal the money you already have, they can also leverage your good name to rack up thousands of dollars in additional debt, destroying your hard-earned credit in the process.

And that's hoping you don't run into the talented Tom Ripley. 

Now, let's stop for a second and let me provide this disclaimer: Having worked with Wachovia's Loss Management and Corporate Information Security, I like to consider myself pretty savvy to common fraud tactics. But, I just took the Identity Fraud Safety Quiz on wellsfargo.com and the majority of my 12 answers generated the following result: "You have opportunity for improvement." Crikeys!

Fortunately, I did score a "Well Done!" for some answers, including one that asked how often I shred documents that contain sensitive financial information before putting it in the trash. Score one for the good guys! (What's your score?)

And our ID Theft quiz is not alone. Using a shredder  is often cited as one of the easiest and most important steps to protecting your identity. You see, criminals value your personal information so much that they'll gladly sift through your trash in hopes of finding a document or two that contains your social security number or account data.

Obviously, that is just one step in avoiding becoming a victim of identity theft. And if you're like me, you might not realize how often you are putting yourself at risk.

But, we know that our customers are some of the smartest folks out there and we'd love to hear how maybe you've changed your habits to better secure your identity from criminals. They way I view it, sharing tips and helping each other become better educated is really the key — it's a whole lot easier to be proactive in protecting your identity before you are victimized than it is to recover from it, which is said to take well over 300 hours of your time.

I think good 'ol Ben Franklin said it best over 250 years ago, "An ounce of prevention is worth a pound of cure."

And as Diddy  will tell ya, in the new millennium, "It's all about the Benjamins." 

Matt Wadley

It's official: We can no longer turn on the TV or surf the Web without someone reminding us that our country's economy is in a recession.

And whether you want to listen to them or not, the reality is that most Americans are feeling the pain of a slowing cash flow and are worried about the future. And we've seen a lot of comments here on the blog that confirm that our customers are looking for ways to make their dollar go further.

Inevitably, such an economic state opens the door for companies to promote their lower-cost products through ads — like this one  — that speak to our media-driven anxiety by offering us money-saving options.

Since they won't put me in charge of advertising, here's my pitch: Now, when every penny counts more than ever, are you getting the most out of your accounts with Wells Fargo and Wachovia?

Hmm...not too bad if I do say so myself. But let's get to the point, eh?

You see, it was only a few years ago that I was still hand-writing checks, addressing envelopes and buying stamps. Fortunately, I eventually took, oh, about 5 minutes to sign up for Wachovia's Online Banking with Bill Pay and was blown away at just how easy it is to manage my bills online. (Of course, Wells Fargo customers have access to Bill Pay too.)

If memory serves, I used to spend at least a half hour twice a month paying my bills by hand. Now, paying them online takes, at most, a minute to knock out.

But, saving time is only part of the benefit to using bill pay. You see, with the price of stamps going from $0.42 to $0.44 next month , you can also save a nice chunk of change.

Let's do some quick math: Say you pay 12 bills every month (mortgage/rent, gas, electric, water, phone, cell phone, cable, Internet, car, insurance, and a few credit cards), and each bill requires a $0.44 stamp. By taking a few minutes to set up your online bill pay account, you can save $63.36 in a year. Now that's probably not going to make or break you, but hey, every dollar counts. Besides, wouldn't you rather rent 63 movies  over the next year than spend that money on stamps for paying your bills?

And as an added bonus, online banking offers you the opportunity to reduce your paper consumption and keeps your important account and personal information out of the hands of opportunistic criminals.

Saving money, saving time, helping the environment, and protecting your identity...now that's what I call living better.

Matt Wadley

About 10 years ago, when I was a college student and life was uncomplicated, I had a bumper sticker on my 1987 Chevy Nova that simply said "Positive." While it seems naive now, I remember imagining how that little word would impact anyone who happened to be driving behind me. I guess you could categorize me as one of "those" people. You know, the ones who turn lemons into lemonade and see the glass as half full. But I gotta be honest with you: This past year has made me want to just dump out the whole glass of lemon juice. And I'm surely not alone.

But life goes on. And as we move forward with navigating a tough economy — and integrating Wachovia and Wells Fargo at the same time — it becomes more important than ever for each of us to stay focused on what we can control. So, we've recruited a new guest blogger, Keith Whitaker. Keith holds a Ph.D in Social Thought, is a former philosophy professor at Boston College  and advises families on how to develop and reach their financial goal. Keith's post below offers some great advice on how to deal with tough economic situations, and wouldn't you know, he says it all starts with being positive.

Ever try to bounce a basketball that you found half-deflated in the back of your garage? Or unsnap an elastic band that's been wrapped around a sheaf of tax documents from ten years ago? The results were probably pretty weak.

Many people feel like those half-deflated balls or petrified elastics right now. We don't have much "bounce." We've watched the stock market decline by around 50% in the last year. We read every day about job losses — and perhaps have been personally affected.

Economists and market experts tell us that what goes down will go back up. But the prospect of a sustainable market upturn at some undefined future point — maybe today, maybe next year, who knows? — doesn't necessarily help me get through today. It is easy to lose hope.

What can you do to avoid or get out of that place? You can strengthen your own resilience, literally your ability to "bounce back" from the slings and arrows that fortune sends your way. Psychological studies of resilience, particularly led by the work of Dr. Salvator Maddi , have shown that three general practices can help strengthen your ability to bounce back:

• Take care of yourself, physically and spiritually. For me it means getting more sleep, eating healthier, and putting less caffeine into my system. It can also include spending a few moments each day in reflection or silent meditation. It's hard to take care of others if you don't care of yourself.
• Establish quality social connections, at work and at home. It's quality not quantity that counts here. As the markets show, fear is infectious. And how good do you feel if you hang out with folks who are worried about losing their jobs, their money, or their house? Stay centered by spending time with people who affirm you, focus forward, and dissipate the gloom.
• Develop a positive, forward-focused attitude. This makes all the difference. I know that when I'm feeling resilient, I feel in control rather than powerless, committed to my pursuits rather than alienated, and challenged positively rather than threatened. How do you feel?

Maintaining such an attitude is not easy in times like these. The markets and the government aren't in our control. But what we can control is what our heads do with the news.

I know that many times (especially when I look at my account statements!) I've found myself saying, "I would have, could have, or should have..." I focus on what's gone wrong or where I failed rather than on what has turned out well. These are mental habits that get in the way of trusting myself....