May 11, 2012

Is the End of ‘Snail Mail’ Near?

Bill Ramsay

There has been a lot of talk in the news lately about the troubles the United States Postal Service (USPS) is facing.  While our postal system has followed a national standard for more than 100 years, delivering our mail “whether rain or shine,” and “through sleet or snow,” their current financial state most certainly calls for changes sooner than later to stay afloat.

Putting their internal financial management aside, let’s think about a few of the reasons our Postal Service is in this mess:

  • Technological advances make sending and receiving information easier, cheaper and faster.
  • Increased environmental awareness has influenced businesses and consumers to change to electronic delivery.
  • ‘Opt-Out’ regulations have allowed consumers the ability to stop unsolicited marketing from credit card companies.
  • Businesses give customers incentives for going ‘paperless’- lower monthly fees, reduced interest rates, and in some cases, discounts on their goods and services.
  • With much of the USPS former services going towards handling promotional materials and consumer bills, multimedia has taken over as a more cost effective alternative of sending information.

While USPS may change their structure of ownership and management in the future, say becoming more of what the other big shipping companies are today, the concept of ‘snail mail’ will most likely never go away, with the help of the following:

  • ‘Original documents’ for items like real estate transactions and financial paperwork often require original signatures, seals or raised stamps.
  • Greeting cards, personal letters and small gifts are still sent happily through regular mail (though not as often as they used to)… and we still enjoy receiving them.
  • People often prefer reading a magazine, newsletter or catalog while holding it, rather than viewing it on a screen.
  • There is a generation of people that do not have nor want electronic delivery.

Legislation, internal practice improvements and raising postal costs may be necessary to give the USPS a re-boot, but it is the people the USPS serves that can start the rebuilding process now.

So go ahead and send a handwritten note to someone. I bet you will make both a postal worker’s and a friend’s day.

Photo credit to imurf.

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May 11, 2012

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Bill Ramsay is a Certified Financial Planner™ and owner of Financial Symmetry, Inc. Bill is often interviewed for industry publications such as Financial Planning, Inside Information, Journal of Financial Planning, and Investment Advisor. He is a frequent guest for The Triangle Business Journal’s annual financial roundtable discussions. Bill has also been interviewed for national financial publications like The Wall Street Journal and Barron’s as well as general news publications such as Newsweek and the Raleigh News and Observer.

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