Cameron and I in many ways have a VERY similar style. We both enjoy simple, rustic, and modern feels, but we like things that make a statement. When we were planning Hawaii, we had a short time frame. In a way, this is preferable. Short. Quick. and Sweet. We didn't have a budget in mind, but with the flights and hotel to pay for, we wanted to keep things within reason. The internet became our BEST friend.
Having our island and hotel already selected helped us narrow down our choices of wedding planners, as we wanted someone that could provide transportation to a location within under an hour of where we were staying.
We worked with Sweet Hawaii Weddings and our wedding could not have been more beautiful! They arranged everything, from our transportation, to music, to flowers, to photography, and even provided information on how to obtain our wedding license (a very quick process, mahalo!). We met with CoCo, our officiant, the day before the ceremony. He welcomed us into his beautiful home and we sat out on his deck with the backdrop of a waterfall while we talked through the next day's details. Talk about paradise! Did I mention he made the bouquet using orchids he grows in his own home? I could not believe all the beautiful colors!
The day and evening went off without a hitch. Afterwards we enjoyed a beautiful dinner together at Sarento's at the Top of the I. We had the "wine room" to ourselves, which afforded privacy for extra hilarious jokes and just the intimate feel we were looking for at the end of our perfect small Hawaii wedding.
Wednesday, April 12, 2017
Friday, May 22, 2015
Forbes worded it very well - see their "Why youre thinking about your budget all wrong" article
http://www.forbes.com/sites/maggiemcgrath/2015/05/22/why-youre-thinking-about-your-budget-all-wrong/
Tuesday, May 19, 2015
Why you should banish the boring from your budget
We've all inadvertently asked this question before - first, it's why can't I seem to save for that new pair of shoes? Then, it's why can't I treat myself to a fancy meal? Then, it's why shouldn't I have a new car? Why shouldn't I live somewhere nicer? Maybe a house?
This is the old - "if you give a mouse a cookie" - scenario. One thing seems "reasonable," then another, then another, until suddenly your savings have drifted away. Or the dial has stopped ticking up.
When I first graduated college, I was very careful to avoid this trap. I found the cheapest rent possible, kept up my old accord Betsy, kept haircuts to a minimum, only ate out on happy hour specials or the local deli's deal of the day, and the list goes on. As I watched my student debt go down, I wanted to give up on that diet and loosen the belt I had tightened around my financial waist.
Over time, I have found myself loosening that belt again and again. "What's the point of all this hard work if I can't enjoy it?" I find myself wondering. Each time I have reached a milestone, a different budget line item has gone up and sometimes multiple. Then suddenly, I'm not saving at all.
Each time I aim for a big goal - like paying off student debt or getting a promotion - I have a big beautiful picture of the future in front of me - something worth looking at and something to keep aiming for.
But when I reach that goal, I lose focus.
Not because I am bad at budgeting, am a wilder spender, or am a generous person giving it all away. Rather, when I plan for the one big goal, I don't properly plan for the next.
Here's my typical process: 1. What $ amount do I have now 2. What $ amount do I want to have/do 3. What day will I have it. 4. What other $ amounts do I want and what date do I want them.
Did you spot the theme? This process is numbers based. Dollars and dates. As a serial budgeter and numbers focused person, I don't consider my emotional state when I budget.
My friends that don't budget have deeper connections to the emotions involving money: "I don't understand what all those numbers mean, I just want to know that I will get what I want." "I dont want to feel like a cheapass." "I know what I should do but I just don't feel like it." "That stuff doesn't matter, experiences matter." "If I can make [insert emotion here] happen with a few dollars, I'll throw the money at it."
On the flip side, I ignore common sense for the sake of numbers (ask my boyfriend about the 8 hour layover in the "perfect travel plan" I created. Luckily, he booked the flights.)
As a result, I end up with a very boring budget. And when I reach a goal I completely lose focus and try to buy everything. Because there's an emotional being I have ignored during my laser-focus dollars and dates plan. And she really really wants to throw a party and invite all the friends to celebrate, literally and figuratively.
For this reason, I changed some categories in my budget to capture or generate emotion. It was harder than I thought it would be, but here's some samples:
Nutritious homecooked meals (instead of groceries)
Social exercise (exercise is free: I could do pushups and run outside, but if I pay for yoga it's because I want to be around people)
Environmentally friendly transportation (aka mass transit, which happens to be cheaper)
Spontaneous transportation (because being spontaneous requires getting places instantly-like Uber)
Unhealthy food (instead of dining out).
Future beautiful house (instead of savings)
Sticking it to the man (instead of paying off debt)
If you are new to budgeting, hate numbers, or can't stay focused, try making your categories more fun. Maybe you'll have "save the whales" instead of "charity", or "party house" instead of rent, but whatever you do, make it yours. And tell me what you think!
This is the old - "if you give a mouse a cookie" - scenario. One thing seems "reasonable," then another, then another, until suddenly your savings have drifted away. Or the dial has stopped ticking up.
When I first graduated college, I was very careful to avoid this trap. I found the cheapest rent possible, kept up my old accord Betsy, kept haircuts to a minimum, only ate out on happy hour specials or the local deli's deal of the day, and the list goes on. As I watched my student debt go down, I wanted to give up on that diet and loosen the belt I had tightened around my financial waist.
Over time, I have found myself loosening that belt again and again. "What's the point of all this hard work if I can't enjoy it?" I find myself wondering. Each time I have reached a milestone, a different budget line item has gone up and sometimes multiple. Then suddenly, I'm not saving at all.
Each time I aim for a big goal - like paying off student debt or getting a promotion - I have a big beautiful picture of the future in front of me - something worth looking at and something to keep aiming for.
But when I reach that goal, I lose focus.
Not because I am bad at budgeting, am a wilder spender, or am a generous person giving it all away. Rather, when I plan for the one big goal, I don't properly plan for the next.
Here's my typical process: 1. What $ amount do I have now 2. What $ amount do I want to have/do 3. What day will I have it. 4. What other $ amounts do I want and what date do I want them.
Did you spot the theme? This process is numbers based. Dollars and dates. As a serial budgeter and numbers focused person, I don't consider my emotional state when I budget.
My friends that don't budget have deeper connections to the emotions involving money: "I don't understand what all those numbers mean, I just want to know that I will get what I want." "I dont want to feel like a cheapass." "I know what I should do but I just don't feel like it." "That stuff doesn't matter, experiences matter." "If I can make [insert emotion here] happen with a few dollars, I'll throw the money at it."
On the flip side, I ignore common sense for the sake of numbers (ask my boyfriend about the 8 hour layover in the "perfect travel plan" I created. Luckily, he booked the flights.)
As a result, I end up with a very boring budget. And when I reach a goal I completely lose focus and try to buy everything. Because there's an emotional being I have ignored during my laser-focus dollars and dates plan. And she really really wants to throw a party and invite all the friends to celebrate, literally and figuratively.
For this reason, I changed some categories in my budget to capture or generate emotion. It was harder than I thought it would be, but here's some samples:
Nutritious homecooked meals (instead of groceries)
Social exercise (exercise is free: I could do pushups and run outside, but if I pay for yoga it's because I want to be around people)
Environmentally friendly transportation (aka mass transit, which happens to be cheaper)
Spontaneous transportation (because being spontaneous requires getting places instantly-like Uber)
Unhealthy food (instead of dining out).
Future beautiful house (instead of savings)
Sticking it to the man (instead of paying off debt)
If you are new to budgeting, hate numbers, or can't stay focused, try making your categories more fun. Maybe you'll have "save the whales" instead of "charity", or "party house" instead of rent, but whatever you do, make it yours. And tell me what you think!
Saturday, January 4, 2014
Saying goodbye to 2013 and hello to 2014
This year, I have been blessed with long stretches of time off. Once in September - I spent two weeks in California; once in November - spent10 days with friends and family; and just now, for the Christmas / New year time frame.
This time off has given me much needed time to self-reflect. In September, I reflected most on how I view myself - who I think I am and who I actually am. In November, I reflected on my finances and came up with a comprehensive plan for 2014. Now, I have been reflecting on the year as a whole and been focusing on saying thank you for the wonderful things I have had in 2013.
-Promotion
-Paid off student loans
-Got rid of old Betsy and now have a sporty SUV (new Betsy)
-Gave more and raised more than ever for the Heartwalk (3rd year of participation)
Gratitude has been on my mind a lot lately - I have had a few instances of people noticing my struggle to be grateful. It is not that I do not say thank you and do not appreciate the things that I have, but I struggle with having a grateful spirit in the day-to-day. I have noticed that ingratitude tends to be the root of problems: I don't appreciate the clothes I have, I go buy more. I don't appreciate the food in my fridge, I go buy more. I don't appreciate the income I have, I resent the salaries people make when they leave for new jobs.
Although I already set my comprehensive plan for 2014, I am starting to consider how I can make gratitude for what I have at the center of my plan. First start? Giving more away. If I am grateful for what I already have, how much more would I be able to share?
Three questions to consider before making the next purchase:
Do I already have a version of this? (If yes, why don't I think its good enough?)
What am I hoping to gain by buying this? (Could I gain it another way?)
Am I buying this based on an emotion? (If yes, which one & what caused the emotional need?)
This time off has given me much needed time to self-reflect. In September, I reflected most on how I view myself - who I think I am and who I actually am. In November, I reflected on my finances and came up with a comprehensive plan for 2014. Now, I have been reflecting on the year as a whole and been focusing on saying thank you for the wonderful things I have had in 2013.
-Promotion
-Paid off student loans
-Got rid of old Betsy and now have a sporty SUV (new Betsy)
-Gave more and raised more than ever for the Heartwalk (3rd year of participation)
Gratitude has been on my mind a lot lately - I have had a few instances of people noticing my struggle to be grateful. It is not that I do not say thank you and do not appreciate the things that I have, but I struggle with having a grateful spirit in the day-to-day. I have noticed that ingratitude tends to be the root of problems: I don't appreciate the clothes I have, I go buy more. I don't appreciate the food in my fridge, I go buy more. I don't appreciate the income I have, I resent the salaries people make when they leave for new jobs.
Although I already set my comprehensive plan for 2014, I am starting to consider how I can make gratitude for what I have at the center of my plan. First start? Giving more away. If I am grateful for what I already have, how much more would I be able to share?
Three questions to consider before making the next purchase:
Do I already have a version of this? (If yes, why don't I think its good enough?)
What am I hoping to gain by buying this? (Could I gain it another way?)
Am I buying this based on an emotion? (If yes, which one & what caused the emotional need?)
Saturday, April 6, 2013
The countdown is on!
Barring any accidents, medical emergencies, or calls from my "lenders" (aka mom & dad), I will be debt free in 2.5 months!
So from the day of graduation and start of repayment, it will be 2 years and 1 month or 1 year and 7 months, respectively.
Let's do a recap for any high school graduates, new students, or new to the working world:
1. Freshmen year: Scholarship scholarship scholarships! Apply! I know applications and writing about yourself are annoying, but free money is ALWAYS worth it. Here's a motivator - take your potential scholarship amount, divide it by the current minimum wage (likely what you're being paid at this stage in life) and that will give you the number of hours you'd have to work for the same amount of money. Compare that to the amount of hours it will take you to write an essay (2-4?). Win.
Only take out as much money as you need - for me, this meant saving all summer before freshmen year for the "fixed expenses" (i.e. dorm, meal plan) and taking only enough to cover the rest of those expenses and books. During the year I worked, so thats where my "fun" money came in.
Get an internship that summer if you can - it will build your resume & start to pay for that study abroad you'll do next year.
Any money left over from your first year "budget"? Lock it into an online savings account that has a 3-5 day transaction time. This will give you time to think hard before you spend any extra.
2. Sophomore year: I was allowed to look at apartments! I never went lavish - it was college after all. By living on a little less then, it wasn't be so scary when I got to the big city in 4 years and rents have doubled. Shop around, compared the total of the full lease to the total of student living, and make your decision from there. At UGA, apartments were cheaper than dorms.
Go back to last year's internship or try for a new one! If all else fails, get a part time job.
Thanks to your summer job, scholarships, and a good budget - you get to go to Spain! Yes - you can take out loans for a summer semester, but remember you still have 2-3 more years to pay for and a 6 week study abroad will cost almost a full-semester's worth of expenses.
3. Junior year: I was now in my major and classes were harder. I needed to up the amount of student loans I took out, because I would be working less in order to study more.
The internship to end all internships - this is what you are looking for! Now that you have skills from your major classes, the pay will likely go up (and they'll be looking to bring you on full-time when you graduate next year!). Save save save, spend a little, and save some more. Trust me, your 1st car will last one more year - no need to blow every paycheck or get into a car loan just yet.
4. Senior year: This is (potentially) your last year - enjoy it! Your most recent internship will hopefully take you a long way through the year, but again focus on taking out the minimum you need to get to graduation and maybe build in a little cushion for 1st month's rent in "the big city" you plan to start at.
Your first paycheck at your first job won't come for at least 2 weeks, so you need to bake that into your plan for the year.
Now you have 2 routes - full-time job or graduate school. Full-time job will mean you have 6 months from the day you graduate before you have to start paying loans. This is time for you to get "settled in", or if that was easy, start paying early! Interest is always accruing, and the sooner you make a dent in the principal the lest you will waste on this cost of time.
5. Grad School: If grad school is for your - congratulations - you are about to be overwhelmed with expenses. Back to the freshmen year idea - apply, apply, apply to be a TA. You often get reduced tuition and monthly paycheck for the work you'll be doing. This will greatly reduce the amount of money graduate school will cost you.
But remember, graduate school is a lifetime investment and well worth it. When I looked, I wanted to be sure the amount I paid out of pocket or in loans is reasonable considering my expected salary.
Hopefully leaving grad school will land you a killer job. Even if it doesn't, start your "real world" budget early. I geared mine towards paying of student loans as aggressively as possible (~half my monthly take home pay goes into student loans), so that I could have an expected pay off date before a first promotion.
Be Aggressive! Be-be agressive!
Taking a route this aggressive is tough. I had to say no to certain things my friends jumped right into. People love to think "new job? new everything!"i.e. wardrobe, furniture, or car.
First of all, status is earned, not bought, so hold onto that hand-me down furniture or car and keep the clothes you have looking as nice as possible or shop consignment. Second of all, you are a newbie and not a big deal - people will notice if you don't show up on time because your car broke down, but they are not going to give a hoot what you drive to get there.
I hunt for bargains like I am a coupon queen. I plan to do nice dinners for birthdays or special occasions, but PLAN for it, and try to bring lunch and eat all my groceries rather than going out to eat all the time.
For me, this plan above made sense. I also grew up through student loans at a time when interest rates started out at a fixed, low rate of 6.8%. If you are reading that in 2013, you know how incredibly high that is compared to market. Now, 6 years from when I first signed onto these damn things, new students are getting a lovely 3.4% (and complaining about it), and I am stuck with a fixed rate.
This high rate also meant there were not as viable options on the market - savings accounts earn less than 1%, sometimes less than .5%. Bonds might pay 2-3%. Stocks - well, the stock market is ridiculously volatile and not a risk I am willing to take. With as many companies going under, I have passed for the time being.
For me, it made sense to pay of this debt stuck at a high rate as quickly as possible - because I COULD DO NO BETTER ON THE MARKET! If, instead, I felt comfortable that I could earn more interest with the money I would otherwise overpay to my student loans, I would have gone the standard plan or longer. But to me, this was a no brainer: I pay it off now, I save myself $7500 in interest, and I am quickly debt free.
Because I was stuck with the debt and the fixed rate, I feel like the interest I saved by paying early was an instant "return" on my money. And assuming the market will get better going forward - I will be that much more free to start investing in the future.
Disclaimer: I am not a financial advisor and everything stated above is purely opinion based on my own experiences and observations.
So from the day of graduation and start of repayment, it will be 2 years and 1 month or 1 year and 7 months, respectively.
Let's do a recap for any high school graduates, new students, or new to the working world:
1. Freshmen year: Scholarship scholarship scholarships! Apply! I know applications and writing about yourself are annoying, but free money is ALWAYS worth it. Here's a motivator - take your potential scholarship amount, divide it by the current minimum wage (likely what you're being paid at this stage in life) and that will give you the number of hours you'd have to work for the same amount of money. Compare that to the amount of hours it will take you to write an essay (2-4?). Win.
Only take out as much money as you need - for me, this meant saving all summer before freshmen year for the "fixed expenses" (i.e. dorm, meal plan) and taking only enough to cover the rest of those expenses and books. During the year I worked, so thats where my "fun" money came in.
Get an internship that summer if you can - it will build your resume & start to pay for that study abroad you'll do next year.
Any money left over from your first year "budget"? Lock it into an online savings account that has a 3-5 day transaction time. This will give you time to think hard before you spend any extra.
2. Sophomore year: I was allowed to look at apartments! I never went lavish - it was college after all. By living on a little less then, it wasn't be so scary when I got to the big city in 4 years and rents have doubled. Shop around, compared the total of the full lease to the total of student living, and make your decision from there. At UGA, apartments were cheaper than dorms.
Go back to last year's internship or try for a new one! If all else fails, get a part time job.
Thanks to your summer job, scholarships, and a good budget - you get to go to Spain! Yes - you can take out loans for a summer semester, but remember you still have 2-3 more years to pay for and a 6 week study abroad will cost almost a full-semester's worth of expenses.
3. Junior year: I was now in my major and classes were harder. I needed to up the amount of student loans I took out, because I would be working less in order to study more.
The internship to end all internships - this is what you are looking for! Now that you have skills from your major classes, the pay will likely go up (and they'll be looking to bring you on full-time when you graduate next year!). Save save save, spend a little, and save some more. Trust me, your 1st car will last one more year - no need to blow every paycheck or get into a car loan just yet.
4. Senior year: This is (potentially) your last year - enjoy it! Your most recent internship will hopefully take you a long way through the year, but again focus on taking out the minimum you need to get to graduation and maybe build in a little cushion for 1st month's rent in "the big city" you plan to start at.
Your first paycheck at your first job won't come for at least 2 weeks, so you need to bake that into your plan for the year.
Now you have 2 routes - full-time job or graduate school. Full-time job will mean you have 6 months from the day you graduate before you have to start paying loans. This is time for you to get "settled in", or if that was easy, start paying early! Interest is always accruing, and the sooner you make a dent in the principal the lest you will waste on this cost of time.
5. Grad School: If grad school is for your - congratulations - you are about to be overwhelmed with expenses. Back to the freshmen year idea - apply, apply, apply to be a TA. You often get reduced tuition and monthly paycheck for the work you'll be doing. This will greatly reduce the amount of money graduate school will cost you.
But remember, graduate school is a lifetime investment and well worth it. When I looked, I wanted to be sure the amount I paid out of pocket or in loans is reasonable considering my expected salary.
Hopefully leaving grad school will land you a killer job. Even if it doesn't, start your "real world" budget early. I geared mine towards paying of student loans as aggressively as possible (~half my monthly take home pay goes into student loans), so that I could have an expected pay off date before a first promotion.
Be Aggressive! Be-be agressive!
Taking a route this aggressive is tough. I had to say no to certain things my friends jumped right into. People love to think "new job? new everything!"i.e. wardrobe, furniture, or car.
First of all, status is earned, not bought, so hold onto that hand-me down furniture or car and keep the clothes you have looking as nice as possible or shop consignment. Second of all, you are a newbie and not a big deal - people will notice if you don't show up on time because your car broke down, but they are not going to give a hoot what you drive to get there.
I hunt for bargains like I am a coupon queen. I plan to do nice dinners for birthdays or special occasions, but PLAN for it, and try to bring lunch and eat all my groceries rather than going out to eat all the time.
For me, this plan above made sense. I also grew up through student loans at a time when interest rates started out at a fixed, low rate of 6.8%. If you are reading that in 2013, you know how incredibly high that is compared to market. Now, 6 years from when I first signed onto these damn things, new students are getting a lovely 3.4% (and complaining about it), and I am stuck with a fixed rate.
This high rate also meant there were not as viable options on the market - savings accounts earn less than 1%, sometimes less than .5%. Bonds might pay 2-3%. Stocks - well, the stock market is ridiculously volatile and not a risk I am willing to take. With as many companies going under, I have passed for the time being.
For me, it made sense to pay of this debt stuck at a high rate as quickly as possible - because I COULD DO NO BETTER ON THE MARKET! If, instead, I felt comfortable that I could earn more interest with the money I would otherwise overpay to my student loans, I would have gone the standard plan or longer. But to me, this was a no brainer: I pay it off now, I save myself $7500 in interest, and I am quickly debt free.
Because I was stuck with the debt and the fixed rate, I feel like the interest I saved by paying early was an instant "return" on my money. And assuming the market will get better going forward - I will be that much more free to start investing in the future.
Disclaimer: I am not a financial advisor and everything stated above is purely opinion based on my own experiences and observations.
Wednesday, January 23, 2013
Getting closer to a Peace of Mind
The other night, TurboTax and I were having our long overdue discussion about how much money I would owe the government this year.
Turns out, I have already given them PLENTY for 2012, and I will be receiving a hefty refund. Man do I love exclusions from income (exlusion = never shows up in your wages on your tax return; deduction = potentially taken out from the wages you report on your tax return).
So, the age old question popped up of: what am I going to do with all this money??
For those of you who've been reading my posts for awhile, you know exactly what I am going to do: pay down my student loans!
I love putting a big fat amount towards student loans - I instantly see a reduction in the amount of interest charged every month, and I instantly see that big balance go from a certain number past the first comma go down.
Once I saw the impact of that student loan, I started schemeing. How can I get these paid down even faster? Let me tell you..
A few months ago I got nervous about my emergency fund being too small. Since I only have one income, if for some reason I had to stop working all cash flows in would stop. So I made a plan to aggressively build it up to about 4 months of expenses. Phew - so glad that was over!
At the same time, I got nervous about not putting enough into my 401(k) now while I am still working - what if some day down the future I have a family, comprised of myself, hungry mouths, and a husband with a small 401(k)? What would we do once we get to retirement - share what little he has? Certainly not. So I started adding to my 401(k) again.
Well, now between the refund check, the "additional" emergency fund (over $1,000 per Dave Ramsey), and a reduction to my 401(k), I have a plan to pay off these student loans by MAY!!!!!
Total payoff time: November 2011 to May 2013, or 1.5 years.
Last year I took a few liberties with my budget, so honestly I could have been paid off by now if not for those; however, I made memories with those liberties and I am still on track, so I will not regret them.
For the next 5 months, I am going to be very nervous - with just a little E-fund as back up, I have to pray that Ole Betsy doesn't break down, the economy doesn't kick me out of my job, and my health stays sharp.
However, I know the reward of sacrifcing a little now will pay off with a HUGE peace of mind come May. I am being this aggressive with my debt not just for me, but for my future family, whom I hope to teach these same values of maintaining a debt-free financial peace of mind.
Turns out, I have already given them PLENTY for 2012, and I will be receiving a hefty refund. Man do I love exclusions from income (exlusion = never shows up in your wages on your tax return; deduction = potentially taken out from the wages you report on your tax return).
So, the age old question popped up of: what am I going to do with all this money??
For those of you who've been reading my posts for awhile, you know exactly what I am going to do: pay down my student loans!
I love putting a big fat amount towards student loans - I instantly see a reduction in the amount of interest charged every month, and I instantly see that big balance go from a certain number past the first comma go down.
Once I saw the impact of that student loan, I started schemeing. How can I get these paid down even faster? Let me tell you..
A few months ago I got nervous about my emergency fund being too small. Since I only have one income, if for some reason I had to stop working all cash flows in would stop. So I made a plan to aggressively build it up to about 4 months of expenses. Phew - so glad that was over!
At the same time, I got nervous about not putting enough into my 401(k) now while I am still working - what if some day down the future I have a family, comprised of myself, hungry mouths, and a husband with a small 401(k)? What would we do once we get to retirement - share what little he has? Certainly not. So I started adding to my 401(k) again.
Well, now between the refund check, the "additional" emergency fund (over $1,000 per Dave Ramsey), and a reduction to my 401(k), I have a plan to pay off these student loans by MAY!!!!!
Total payoff time: November 2011 to May 2013, or 1.5 years.
Last year I took a few liberties with my budget, so honestly I could have been paid off by now if not for those; however, I made memories with those liberties and I am still on track, so I will not regret them.
For the next 5 months, I am going to be very nervous - with just a little E-fund as back up, I have to pray that Ole Betsy doesn't break down, the economy doesn't kick me out of my job, and my health stays sharp.
However, I know the reward of sacrifcing a little now will pay off with a HUGE peace of mind come May. I am being this aggressive with my debt not just for me, but for my future family, whom I hope to teach these same values of maintaining a debt-free financial peace of mind.
Friday, July 27, 2012
Just when I think I have got it figured out...
Prior to the last two weeks I was keeping one credit card on me "just in case of an emergency." Between June and early July, I put $1,000 onto that sucker. That does not include a $200 plane ticket for a planned vacation.
Needless to say after overspending that much, I had to make the bleeding stop. I have hung the card up to dry in some drawer at my parents house, where it can stay safe and sound and far far away from my budget.
During the last two weeks, I have not adjusted well to not spending at my leisure like I had been doing on the Amex. I blew my dining out / grocery budget by $50 already, and I still have 4 days to payday. Part of this is to blame on the longer days to spread the check over - we were paid the 13th, the next one still won't come until the 31st - so 17 days rather than 15, which happens to include an extra weekend.
But excuses are for addicts - I must get past the denial and accept the fact that I blew it. So I have started looking for a solution. One point of major bleeding I found is lunch & drinks. Almost all of my "dining out" was spent on one of these two. Overall, I spent an average of $15 a day on dining out, and $20 on food in general.
For this next week, I have a few challenges for myself to achieve an overall goal of $5/day average for dining out and $7/day for eating in: 1. Eat breakfast in, every day. 2. Only eat out for lunch 1 weekday and 1 weekend day. 3. Dinner - same rules as lunch.
Let the games begin!
Needless to say after overspending that much, I had to make the bleeding stop. I have hung the card up to dry in some drawer at my parents house, where it can stay safe and sound and far far away from my budget.
During the last two weeks, I have not adjusted well to not spending at my leisure like I had been doing on the Amex. I blew my dining out / grocery budget by $50 already, and I still have 4 days to payday. Part of this is to blame on the longer days to spread the check over - we were paid the 13th, the next one still won't come until the 31st - so 17 days rather than 15, which happens to include an extra weekend.
But excuses are for addicts - I must get past the denial and accept the fact that I blew it. So I have started looking for a solution. One point of major bleeding I found is lunch & drinks. Almost all of my "dining out" was spent on one of these two. Overall, I spent an average of $15 a day on dining out, and $20 on food in general.
For this next week, I have a few challenges for myself to achieve an overall goal of $5/day average for dining out and $7/day for eating in: 1. Eat breakfast in, every day. 2. Only eat out for lunch 1 weekday and 1 weekend day. 3. Dinner - same rules as lunch.
Let the games begin!
Sunday, May 13, 2012
The Finish Line
Many of the books I have read lately emphasize the important of VISUALIZATION in achieving a goal. You start with the furthest out goal (by a house) and work your way backwards to current day decisions that can be made to achieve that goal.
Example: One day I would like to own a house. (Overarching goal). Before I take out a mortgage, I should pay off my student loans (long-term). I can pay off more of my student loans once I get rid of credit-card debt (short-term).
Once you have your end result in mind (relaxing on the back deck off my kitchen with my morning paper and a cup of coffee, while I listen to the birds in my back yard), the day-to-day steps become more clear and more important to achieve.
Credit can help your or hurt you along the way. The less debt the better, but there are some basics of having a good credit score and affordable interest rates- pay any bills on time, always make your minimum payment, etc. Rather, if you don't do these things, your credit score will take a big hit down, and once your credit score goes down your interest rates go up and suddenly you owe a lot more than the $15 minimum payment you missed....
Keeping a good credit score is a good overarching goal to your financial decisions. The hardest part will be creating a lifestyle for yourself where you stay within your limits and create some cushion. Staying within your limits means spending less than you make each month. If you spend less than your monthly income, you won't need credit cards. If you don't need credit cards, you won't throw away money on interest payments. And the benefits just keep coming..
The second part, cushion, entails not just staying right within what you make every month, but actually being disciplined enough to set some aside. Start small - the emergency fund I talked about before (~$1,000) should be created as soon as possible and used only for true emergencies (and if used at all, built back ASAP).
Next, work towards saving 4 - 6 months worth of expenses - this way if you are injured, the economy crashed, or your new CEO does a lot of layoffs, you have enough backup to keep paying your bills, work on your recovery, and get to that next job and back on your feet.
Once you have an emergency fund, start thinking big! What would I like to have for myself one day? A beach getaway? A different car? Your own house? A cozy retirement? If you dream it, visualize it, and plan the steps to get there, you can achieve just about anything. Seriously.
What do you want your finish line to look like?
Example: One day I would like to own a house. (Overarching goal). Before I take out a mortgage, I should pay off my student loans (long-term). I can pay off more of my student loans once I get rid of credit-card debt (short-term).
Once you have your end result in mind (relaxing on the back deck off my kitchen with my morning paper and a cup of coffee, while I listen to the birds in my back yard), the day-to-day steps become more clear and more important to achieve.
Credit can help your or hurt you along the way. The less debt the better, but there are some basics of having a good credit score and affordable interest rates- pay any bills on time, always make your minimum payment, etc. Rather, if you don't do these things, your credit score will take a big hit down, and once your credit score goes down your interest rates go up and suddenly you owe a lot more than the $15 minimum payment you missed....
Keeping a good credit score is a good overarching goal to your financial decisions. The hardest part will be creating a lifestyle for yourself where you stay within your limits and create some cushion. Staying within your limits means spending less than you make each month. If you spend less than your monthly income, you won't need credit cards. If you don't need credit cards, you won't throw away money on interest payments. And the benefits just keep coming..
The second part, cushion, entails not just staying right within what you make every month, but actually being disciplined enough to set some aside. Start small - the emergency fund I talked about before (~$1,000) should be created as soon as possible and used only for true emergencies (and if used at all, built back ASAP).
Next, work towards saving 4 - 6 months worth of expenses - this way if you are injured, the economy crashed, or your new CEO does a lot of layoffs, you have enough backup to keep paying your bills, work on your recovery, and get to that next job and back on your feet.
Once you have an emergency fund, start thinking big! What would I like to have for myself one day? A beach getaway? A different car? Your own house? A cozy retirement? If you dream it, visualize it, and plan the steps to get there, you can achieve just about anything. Seriously.
What do you want your finish line to look like?
Monday, April 23, 2012
What's the problem with credit, anyhow?
I'd like to start this session with a little personal story. Two months ago the sit up sheets went around for girl scout cookies. Being the awesome friend and daughter that I am, I decided to order two more than usual to give to my friend and my mom. So arrival day came and here I sat, with FOUR boxes of cookies. Quick outside lesson about myself 1. I'm not big on sweets in the sense they are not a daily or even weekly purchase for me. 2. I work a job with unpredictably long nights. Just so happens the day of the arrival of the deliciousness, work turned into one of those late nights. Guess how many of that first box survived the night? Less than half.
Now, knowing what you know about my lack of sweet tooth, what do you suppose was the cause of my cookie binge? Aside from stress (not uncommon and manageable by alternating dubstep and classical music) I had an endless supply of cookies. Why did I eat them rather than order salad with everyone else? Simple: because they were there!
Similar to the grass is greener on the other side syndrome, the minute your credit card tells you that you have $3000 to spend, you feel you have $3000-cash. Deep down, when you are debating between debit or credit you think "credit. I have more"
MEEEH!! Wrong sucker! You just offered to pay a company more than you're worth in repayment and interest for sh** you probably don't need in the first place. My net worth currently sits at negative few thousand (which has come down tremendously thanks to savings and paying down my student loans).
The fact I owe more than I am worth is something I am not fond nor proud of, but I at least happy to say I got an education worth more than I owe for it, so I'm not too worried about future.
Today amidst various political BS I heard the statement "Americans now owe more in student loans than credit card debt." And you idiots think that's a BAD thing? So I spent more on my education than my wardrobe or the car I might wreck after charging the nonfat latte I managed to spill in my lap - at least knowledge and social skills friendships business connections might get me a better job one day. Visa, Amex, MasterCard, and Discove will not.
If you have it ($3000 credit line) you will spend it, or more than you otherwise would. You'll think "that Chamanda is crazy, this isn't do bad!" and more cards you shall get..
A glass of milk goes nicely with cookies, but eventually the box and your friend's box and your mom's box will be gone, and the girl scouts have stopped selling and you are left with spoiled milk and no cookies.
Same to your wallet and your credit. Don't let your credit score become a half empty glass of spoiled milk. It smells bad, and it's hard to be friends with smelly people...
Now, knowing what you know about my lack of sweet tooth, what do you suppose was the cause of my cookie binge? Aside from stress (not uncommon and manageable by alternating dubstep and classical music) I had an endless supply of cookies. Why did I eat them rather than order salad with everyone else? Simple: because they were there!
Similar to the grass is greener on the other side syndrome, the minute your credit card tells you that you have $3000 to spend, you feel you have $3000-cash. Deep down, when you are debating between debit or credit you think "credit. I have more"
MEEEH!! Wrong sucker! You just offered to pay a company more than you're worth in repayment and interest for sh** you probably don't need in the first place. My net worth currently sits at negative few thousand (which has come down tremendously thanks to savings and paying down my student loans).
The fact I owe more than I am worth is something I am not fond nor proud of, but I at least happy to say I got an education worth more than I owe for it, so I'm not too worried about future.
Today amidst various political BS I heard the statement "Americans now owe more in student loans than credit card debt." And you idiots think that's a BAD thing? So I spent more on my education than my wardrobe or the car I might wreck after charging the nonfat latte I managed to spill in my lap - at least knowledge and social skills friendships business connections might get me a better job one day. Visa, Amex, MasterCard, and Discove will not.
If you have it ($3000 credit line) you will spend it, or more than you otherwise would. You'll think "that Chamanda is crazy, this isn't do bad!" and more cards you shall get..
A glass of milk goes nicely with cookies, but eventually the box and your friend's box and your mom's box will be gone, and the girl scouts have stopped selling and you are left with spoiled milk and no cookies.
Same to your wallet and your credit. Don't let your credit score become a half empty glass of spoiled milk. It smells bad, and it's hard to be friends with smelly people...
Thursday, April 12, 2012
Budget Commandments
Lately I have been a little off... budget-wise, blog-wise, fitness-wise, you name it, it's off. But, lately I have been focusing on something a little bit different. Just recently I took a vacation and despite the word "vacation" and very much wanting to be happy and content, I noticed that not only was I neither happy nor content (despite giving myself an extra spending allowance to enjoy), but I was also brining down the entire mood around me. The Lorax inside me speaking for happiness everywhere struck out - something must be done.
Inspired, while perusing the book selection at the airport, a title struck out at me: The Happines Project @ http://www.happiness-project.com/. Gretchen has 12 Personal Commandenments inspired by various moments of her life and happiness project, which led me to think, why not have 12 Spending Commandments? A quick list of reminders is just what I need to get my budget back on track.
1. Pay debt first
2. Every penny counts
3. Debt, Save, Give, Needs, Fun
4. Flex and be flexed
5. Hard work pays off.
6. Plan the splurge.
7. Needs > wants.
8. Give more.
9. Have a little faith.
10. Fun is free.
11. Home cooked > dining out
12. Credit = debt = bad idea.
- "my" money is not mine until I give back what I borrowed.
-if I budget to $0 including-"miscellanous" not a penny is wasted.
- in order from most to least important
- wiggle room is good, like expecting the unexpected so Im always prepared
- grades, budget,career, family.. you name it, and this is true.
- if I plan the splurge I can get the most bang for my buck - outlet mall on a holiday wekeend anyone??
- are my .. bills paids, car running, body working?
- I have been blessed because others gave to me, time to return the favor
- If I spend wisely and plan ahead, I know my needs will be met
-going outside, talking with friends, using my imagination -so much fun for $0!
- less on my waist more in my wallet, what's not to love?
- the temptation to spend when the credit is in my wallet is far greater than the discount coupons I get. I need to lock them up and throw away the key, lest I make the unplanned splurge.
Inspired, while perusing the book selection at the airport, a title struck out at me: The Happines Project @ http://www.happiness-project.com/. Gretchen has 12 Personal Commandenments inspired by various moments of her life and happiness project, which led me to think, why not have 12 Spending Commandments? A quick list of reminders is just what I need to get my budget back on track.
1. Pay debt first
2. Every penny counts
3. Debt, Save, Give, Needs, Fun
4. Flex and be flexed
5. Hard work pays off.
6. Plan the splurge.
7. Needs > wants.
8. Give more.
9. Have a little faith.
10. Fun is free.
11. Home cooked > dining out
12. Credit = debt = bad idea.
- "my" money is not mine until I give back what I borrowed.
-if I budget to $0 including-"miscellanous" not a penny is wasted.
- in order from most to least important
- wiggle room is good, like expecting the unexpected so Im always prepared
- grades, budget,career, family.. you name it, and this is true.
- if I plan the splurge I can get the most bang for my buck - outlet mall on a holiday wekeend anyone??
- are my .. bills paids, car running, body working?
- I have been blessed because others gave to me, time to return the favor
- If I spend wisely and plan ahead, I know my needs will be met
-going outside, talking with friends, using my imagination -so much fun for $0!
- less on my waist more in my wallet, what's not to love?
- the temptation to spend when the credit is in my wallet is far greater than the discount coupons I get. I need to lock them up and throw away the key, lest I make the unplanned splurge.
Monday, March 12, 2012
How to Make the "Oh Sh!!" Purchase, without need to say "O.S!!"
As you may have noticed in my last blog, I recently had an O.S moment. Drove to work like usual, parked my car in the deck like usual, went on with my day like usual, left way later than I would like to like usual, and my car had a flat tire.
Old me: "O.S.!! I have a flat tire how am I going to pay to get a new one?"
Budget-savvy diva-self: "I have a flat tire, but damn I'm hungry.. what to do..what to do"
As you saw, I called AAA and had them put that beautiful donut in place of my decrepit pitiful looking tire.
The following week I went to my favorite Kauffman Tire and asked what they recommended, so 4-tires and an alignment later, Betsy (as I fondly call my 1999 Camry) and I rolled on out of there safe and happy - all for a whopping $425.
Ok, so I got a good deal on those 4 new tires and alignment - but $425 is practically rent. The man at the counter even said "well I am not sure if this is in your budget or not.."
I thought to myself, "Well no sir, I did not write in 'unexpected new tire purchase' when I made my February budget." But I did think - "Well, I have almost 4 months worth of expenses saved up - and I can start replenshing that bucket as soon as next paycheck, so I should go ahead and take this good deal and put that nasty donut back in the trunk where it belongs."
Here's the how:
Step 1 - Make a budget, include Step 2 as a major goal of your budget.
Step 2 - Save $1000 as quickly as possible - this is yours to keep, not spend.
Step 3 - If you have real emergencies along the way, use your part of your $1000, and pay back in until back to $1000.
Step 4 - Pay off credit card debt - this is money you spent that you did not have. The money you make is not truly yours until your debt is gone, period - be careful.
Step 5 - Take your main monthly expenses (utilities, food, enough for gas to get to work) and multiply by 3 if you are single no kids, 6 if you are married/have kids. This is your emergency fund goal.
For some, this may be a very quick process - tax refund anyone??
For others, this could take quite some time. But true me - it's worth it!!
You may feel trapped by your budget to start - eating out less, shopping less, etc. - but once that "Oh sh!!" purchase comes and you find yourself not worried about how to pay for it, you will get to breathe the most satisfying sigh of relief you have felt in a long time.
Old me: "O.S.!! I have a flat tire how am I going to pay to get a new one?"
Budget-savvy diva-self: "I have a flat tire, but damn I'm hungry.. what to do..what to do"
As you saw, I called AAA and had them put that beautiful donut in place of my decrepit pitiful looking tire.
The following week I went to my favorite Kauffman Tire and asked what they recommended, so 4-tires and an alignment later, Betsy (as I fondly call my 1999 Camry) and I rolled on out of there safe and happy - all for a whopping $425.
Ok, so I got a good deal on those 4 new tires and alignment - but $425 is practically rent. The man at the counter even said "well I am not sure if this is in your budget or not.."
I thought to myself, "Well no sir, I did not write in 'unexpected new tire purchase' when I made my February budget." But I did think - "Well, I have almost 4 months worth of expenses saved up - and I can start replenshing that bucket as soon as next paycheck, so I should go ahead and take this good deal and put that nasty donut back in the trunk where it belongs."
Here's the how:
Step 1 - Make a budget, include Step 2 as a major goal of your budget.
Step 2 - Save $1000 as quickly as possible - this is yours to keep, not spend.
Step 3 - If you have real emergencies along the way, use your part of your $1000, and pay back in until back to $1000.
Step 4 - Pay off credit card debt - this is money you spent that you did not have. The money you make is not truly yours until your debt is gone, period - be careful.
Step 5 - Take your main monthly expenses (utilities, food, enough for gas to get to work) and multiply by 3 if you are single no kids, 6 if you are married/have kids. This is your emergency fund goal.
For some, this may be a very quick process - tax refund anyone??
For others, this could take quite some time. But true me - it's worth it!!
You may feel trapped by your budget to start - eating out less, shopping less, etc. - but once that "Oh sh!!" purchase comes and you find yourself not worried about how to pay for it, you will get to breathe the most satisfying sigh of relief you have felt in a long time.
Sunday, February 26, 2012
Confessions of a Budget Blower
This pay period I did pretty well in most of my budget categories. Utilities were $50 cheaper than usual, so I put that into my long-term savings. Actual grocery expenditure was only $60 of the $100 I originally allotted. Dry cleaning was $14 of the $25 I set aside. Spending on gas was about half of what I allotted. And I gave up all alcohol for lent (lots of reasons behind that one, tougher than sticking to a budget!!!), so naturally my dining out spending will likely be half of what it usually would.
But here's where the trouble begins..
Mom's birthday was Wednesday. Tuesday night I decided to take the 45 minute drive ( 20, since I was already halfway there for work) to see her - but she was not home, so I bought her flowers & chocolate (real gift was at my apartment still), and left the card I had planned to mail with the gifts. Extra gas used - no mother to see.
Wednesday night I came out of the office to a flat tire. Tipped the AAA guy $5 that I wasnt expecting to spend.
Thursday I got off work early, so I drove back home (again) and took Mom to dinner. Extra $30 from my dining out budget I did not anticipate, but the food and the company were amazing, so I count it as worth it!
Friday had a chiro appointment - usually I only have one a month, this is the 2nd in two weeks. Good bye $50.
And Saturday boredom and a failed attempt to get my flat tire fixed (wait so long I probably wouldnt have made it by the time they closed) let to shopping trip at the nearby mall. EVERYTHING was on sale. In particular, a shirt I have had my eye on since January was on clearance + extra 30% off. I broke my own rules and did not put the shirt on hold, and picked a second up in the process.
So while I have enough cash to pay the *wince* credit cards that I put the chiro, shirts, and birthday dinner on (rule #3 broken), I will either a) cut back next month's free spending & pay with the next check b) not give to charity.
I dont think I should compromise on b), so please understand if I turn down a few extra lunch dates.
Total $$ blown: $12 gas, $15 flowers, card, chocolate, $5 tip to AAA, $30 dinner out, $50 chiropractor, $43 shopping spree = $155.
Not the worst I've ever done, but as I budget down to the last penny, that is $155 that I don't get to spend next month :(.
But here's where the trouble begins..
Mom's birthday was Wednesday. Tuesday night I decided to take the 45 minute drive ( 20, since I was already halfway there for work) to see her - but she was not home, so I bought her flowers & chocolate (real gift was at my apartment still), and left the card I had planned to mail with the gifts. Extra gas used - no mother to see.
Wednesday night I came out of the office to a flat tire. Tipped the AAA guy $5 that I wasnt expecting to spend.
Thursday I got off work early, so I drove back home (again) and took Mom to dinner. Extra $30 from my dining out budget I did not anticipate, but the food and the company were amazing, so I count it as worth it!
Friday had a chiro appointment - usually I only have one a month, this is the 2nd in two weeks. Good bye $50.
And Saturday boredom and a failed attempt to get my flat tire fixed (wait so long I probably wouldnt have made it by the time they closed) let to shopping trip at the nearby mall. EVERYTHING was on sale. In particular, a shirt I have had my eye on since January was on clearance + extra 30% off. I broke my own rules and did not put the shirt on hold, and picked a second up in the process.
So while I have enough cash to pay the *wince* credit cards that I put the chiro, shirts, and birthday dinner on (rule #3 broken), I will either a) cut back next month's free spending & pay with the next check b) not give to charity.
I dont think I should compromise on b), so please understand if I turn down a few extra lunch dates.
Total $$ blown: $12 gas, $15 flowers, card, chocolate, $5 tip to AAA, $30 dinner out, $50 chiropractor, $43 shopping spree = $155.
Not the worst I've ever done, but as I budget down to the last penny, that is $155 that I don't get to spend next month :(.
Friday, February 10, 2012
Budget - the Work/Life Bridge
http://moneyland.time.com/2012/02/03/personnel-finance-productivity-down-employers-target-debt-stress/
This article presents an intersting viewpoint: employers have incentive to teach employees about personal finance.
What I found even more interesting, however, was this tidbit "There are ideological blocks too: many think school is for Shakespeare and Nietzsche and that teaching kids about money is best left to parents."
When I compare the classes I had in highschool to what my mother had in highschool, I noticed something interesting: classes teaching skills useful to an individual operating their basic every day life, such as cooking, nutrition, and personal finance, have nearly vanished from public schools.
What are a vast majority of American's problems stemming from these days? OBESITY AND DEBT!!
No wonder the private sector has begun to hone in on this lack of information - organizations like http://www.fitbit.com/ and http://www.myfitnesspal.com/ are easy, nifty tools to help people set exercise and nutrition goals, and keep track of their progress.
Similarly, programs such as http://www.mint.com/ and celebrity-like figures such as Dave Ramsey and Clark Howard have popped up trying to help people learn how to manage their money and reach their financial (as well as other) life goals.
Accordingly, employers can benefit tremendously and quite selfishly from helping employees conquer their own health or finance issues. Who would you want on your staff? The unhealthy, broke employee who continually calls out sick or is late due to car troubles that she cannot afford be fixed (unreliable), or the healthy, financially stable individual (reliable)?
Could your organization benefit from implementing Financial Success program?
This article presents an intersting viewpoint: employers have incentive to teach employees about personal finance.
What I found even more interesting, however, was this tidbit "There are ideological blocks too: many think school is for Shakespeare and Nietzsche and that teaching kids about money is best left to parents."
When I compare the classes I had in highschool to what my mother had in highschool, I noticed something interesting: classes teaching skills useful to an individual operating their basic every day life, such as cooking, nutrition, and personal finance, have nearly vanished from public schools.
What are a vast majority of American's problems stemming from these days? OBESITY AND DEBT!!
No wonder the private sector has begun to hone in on this lack of information - organizations like http://www.fitbit.com/ and http://www.myfitnesspal.com/ are easy, nifty tools to help people set exercise and nutrition goals, and keep track of their progress.
Similarly, programs such as http://www.mint.com/ and celebrity-like figures such as Dave Ramsey and Clark Howard have popped up trying to help people learn how to manage their money and reach their financial (as well as other) life goals.
Accordingly, employers can benefit tremendously and quite selfishly from helping employees conquer their own health or finance issues. Who would you want on your staff? The unhealthy, broke employee who continually calls out sick or is late due to car troubles that she cannot afford be fixed (unreliable), or the healthy, financially stable individual (reliable)?
Could your organization benefit from implementing Financial Success program?
Wednesday, February 8, 2012
Why Budget
I started this blog, but forgot to say why! Here are some lessons I have learned over many years of trying many different budgets:
1) Online budgeting tools are nice, but only if you use them
2) Know how kids are more likely to eat vegetables they helped prepare? Same thing goes for adults using a budget they made themselves
3) Budgets trim wastefulness, and therefore, are good friends to keep close
4) Budgets do NOT have to be fancy
5) Budgets are like maps: they show you where to go, how to get there, and very useful when you get lost.
The first time I tried to track my spending, I found I had created a nightmare. With rows doing one thing and columns doing another, the budget had too many details and too many numbers, and was a budget too icky all around.
The budget I use now is in Excel. It includes formulas that add and subtract, and shows what % of my take home income each category represents.
1) Online budgeting tools are nice, but only if you use them
2) Know how kids are more likely to eat vegetables they helped prepare? Same thing goes for adults using a budget they made themselves
3) Budgets trim wastefulness, and therefore, are good friends to keep close
4) Budgets do NOT have to be fancy
5) Budgets are like maps: they show you where to go, how to get there, and very useful when you get lost.
The first time I tried to track my spending, I found I had created a nightmare. With rows doing one thing and columns doing another, the budget had too many details and too many numbers, and was a budget too icky all around.
The budget I use now is in Excel. It includes formulas that add and subtract, and shows what % of my take home income each category represents.
Tuesday, February 7, 2012
Cupid's Undie Run - Saturday, February 12th
Best part of having a budget is being able to find money to give to those less fortunate.
If your budget allows any extra, please support the Children's Tumor Foundation through my team's page at:
http://hope.cupidsundierun.com/cur/participantpage.asp?fundid=3702&uid=9011&role=1
The foundation strives to end Neurofibromatosis through research. This condition usually begins in adolecense and causes tumors to grow on nerves throughout the body, causing blindness, deafness, and severe chronic pain. Currently, there are very few treatments.
One of our friend's youngest brother, Drew, has been fighting with this condition since he was only 10 years old! Please help us raise money for this worthy cause!
If your budget allows any extra, please support the Children's Tumor Foundation through my team's page at:
http://hope.cupidsundierun.com/cur/participantpage.asp?fundid=3702&uid=9011&role=1
The foundation strives to end Neurofibromatosis through research. This condition usually begins in adolecense and causes tumors to grow on nerves throughout the body, causing blindness, deafness, and severe chronic pain. Currently, there are very few treatments.
One of our friend's youngest brother, Drew, has been fighting with this condition since he was only 10 years old! Please help us raise money for this worthy cause!
Monday, February 6, 2012
Impulse - slowing the "pulse" down
Think for a minute about your pulse: the more mature and healthier you are, the slower it needs to beat to keep you alive, well, and happy.
Infants are at 70-190 vs. Adults at 60-100. Athletes are between 40-60. (source)
Think about your pulse this way:
Infants: young, excitable, immature, developing bodies.
Adults: mature, fully developed (some healthier than others)
Athletes: mature, very well developed, healthiest of all.
Impulse implies that you are in that Infant: 70-190 range, rather than the Athlete:40-60 range.
Think about you impulse buys: you see something pretty, you get excited, you want it and you want it now, and your "pulse" elevates. Seems the only way to slow it down is to buy, buy, buy!
Much like a baby crying until it gets candy.
Here are some quick tips to avoid the trap of impulse:
1. Make a budget: know what you can afford to blow before you dare step foot into that store.
2. Back to front: shop the store back-to-front; those $200 heels that just made it to the floor will not look so good after you see the $70 heels waiting for you in the back
3. Look for red: online or in the store, look (and wait) for the sales.
My top 3 favorite stores tend to sell my top 3 favorite new items at 40% off, just weeks after they are introduced. If I wait a few weeks, I can get 40% more clothing for my money.
Waiting isn't always such a bad thing, huh?
4. Hurry up and Wait! try on what you like, pick your top 3, pick the 1-2 that fit into your budget. Now, I want you to walk to the counter, smile at the sales person, set the clothes down, and ask "Can you put these on hold please?"
5. Exit the store, carry on the rest of your day, and get a good night's sleep.
If those on hold items haunt your dreams, go back and go ahead and buy them.
Putting clothes on hold accomplishes the following: a) you get the fun of shopping b) you find something you like c) you slow down your pulse long enough to make a good decision
Note: this technique can be applied to all shopping and should especially be applied to bigger purchases.
The more you practice these techniques, the slower your pulse will get, and the more fit and mature your spending habits will be.
Friday, February 3, 2012
Some Borrowed Tricks
I love coming up with ways to trick yourself into doing the right thing, or a faster way of doing it, like:
Setting up auto pay on your bills so they are paid before you have a chance to blow your paycheck
Putting clothes you wanted to buy on hold at the store until your excitement over them goes away
So, I loved this nifty article: http://www.43folders.com/2007/08/13/hanger-trick - most women, and a lot of guys I know for that matter, would probably be shocked at the results.
And this website is pretty killer as well: http://www.groceryguide.com/GA/Atlanta/Publix - use it to check the sales at any local food store in your area - and you can check 2 at once for easy comparison shopping!
I will be trying out both of these over the next 3 months, and update you on how I score.
Setting up auto pay on your bills so they are paid before you have a chance to blow your paycheck
Putting clothes you wanted to buy on hold at the store until your excitement over them goes away
So, I loved this nifty article: http://www.43folders.com/2007/08/13/hanger-trick - most women, and a lot of guys I know for that matter, would probably be shocked at the results.
And this website is pretty killer as well: http://www.groceryguide.com/GA/Atlanta/Publix - use it to check the sales at any local food store in your area - and you can check 2 at once for easy comparison shopping!
I will be trying out both of these over the next 3 months, and update you on how I score.
Thursday, February 2, 2012
Needs vs. Wants: the starting line
When I read and the speaker asks me to create a list, I find that I usually do not do it, for whatever reason.
So I made one for you. Feel free to disagree with the comment box below.
Ordered from most important to least important, which happens to equal most fixed to most flexible.
Needs*:
1. Taxes - they come out of your check first anyways, so they are at the top
2. Rent - no one wants to get evicted
3. Utilities - no one wants to get dressed in the dark
4. Loan payments - you promised you'd make this a priority to pay back
Mixed:
5. Food - Dining Out vs. Eating In, or Steak vs. Canned Tuna can be flexed
6. Health - getting prescribed meds is a need - getting Name Brand meds is not.
7. Transportation - getting to work is a need - getting to the mall is not.
Wants:
8. Personal Travel - yes you WANT to explore the world, but save up to go do it.
9. Clothing - unless you are currently naked, this is a want
10. Recreation - of course you WANT to go to the movies, but make sure it fits first
*series on how to control these coming soon
Budgets set up in order of most important (needs*) to least important (wants) will help you
a) keep you spending in perspective
b) remind you your obligations need to be paid first
c) show you that you still have something leftover for fun
d) or if nothing is leftover for fun, it reminds you that some "needs*" probably have "wants" attached to them, and the "wants" need to be clipped fast
b) remind you your obligations need to be paid first
c) show you that you still have something leftover for fun
d) or if nothing is leftover for fun, it reminds you that some "needs*" probably have "wants" attached to them, and the "wants" need to be clipped fast
Understand a need* versus a want? Good - now you know the basic way to start your budget.
Wednesday, February 1, 2012
Whose Money is in Your Wallet?
As a follow-up to my post on Attitude, I figured I would outline some money-attitudes and their biggest downfalls.
Child - everything comes from Mommy & Daddy
Attitude: I want it, gotta have it, what's your's is mine
Downfall: Mommy & Daddy say "No."
Student - Spender: I go to school, I live on my own, but Mom & Dad still pay
Attitude: but everyone else lives on the upper east side.. Daddy please??
Downfall: Mommy and Daddy say "No - get a job if you want it."
Student-Hybrid: I go to school, I pay for my own drinks, but Uncle Sam gets the rest
Attitude: I <3 my student loans, how could I go to Spain without them?
Downfall: 4 years of fun = 10 years and $50,000k + Interest to pay back later
Student - Adult - Saver: I go to school, I saved for college, and I paid for it all on my own
Attitude: Only my money is mine/Ahhhhh freedom is sweet.
Downfall: You lived close enough to take the bus, which contains lots of loud Freshmen.
Adult - Spender - Child: I have a job, it pays for my drinks, but I live at Mom & Dad's
Attitude: the old bird does my laundry and makes me breakfast, why would I ever leave?
Downfall: Mom & Dad sell the house and buy an RV to travel - for two.
Worker-Hybrid: I have a job and pay for my apartment, but Mom & Dad pay some of the bills
Attitude: I am so close to being on my own, but it's so cheap to keep me on their plan!
Downfall: Mom & Dad switch plans, you're dropped, and your rent suddenly feels steep
Worker- Saver - Adult: I have a job, one name for every bill, and my checking account pays it all
Attitude: Only my money is mine/Ahhh - freedom is sweet.
Downfall: You seem less popular, because creditors never call...
Worker- Spender -Parent: I have a job, I pay the bills, and my kids get all the rest.
Attitude: I can't wait until they are old enough to get jobs and move out.
Downfall: You have trained up adult-spender-children: they will never move out.
Worker-Saver-Parent: I have a job, I saved for their college, and I love my vacations.
Attitude: I can wait to have it, and they can too.
Downfall: Your married friends are jealous, and you won' get as much time with your precious babies since they will never live on your couch.
Friday, January 27, 2012
Where there's a Will there's a Way
One thing I have learned about Money Managment - there is NO skill involved.
I repeat - NO skill.
Yes, I am a numbers person by nature (accountant by choice), so I am more aware of numbers, money, and the tools available. But AWARENESS and APPLICATION are two totally separate things. Knowing is the first step, Doing is what counts.
Let me give some none-money examples
If you desire to do something, chances are you will do it. Here's the trick with money - the more you plan and save now, the more you will enjoy what you want and be stress free later. But chances are your Attitude towards money will have to change first.
What's yours?
I repeat - NO skill.
Yes, I am a numbers person by nature (accountant by choice), so I am more aware of numbers, money, and the tools available. But AWARENESS and APPLICATION are two totally separate things. Knowing is the first step, Doing is what counts.
Let me give some none-money examples
- Doctors smoke.
- Nutritionists eat at McDonalds.
- Accountants go broke.
If you desire to do something, chances are you will do it. Here's the trick with money - the more you plan and save now, the more you will enjoy what you want and be stress free later. But chances are your Attitude towards money will have to change first.
What's yours?
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