Do you want to guess what these money wasters are before reading? You probably fall for at least half of them, I know I do :) Found these over at Free Money Finance, who found them over at Yahoo, and couldn't help but chime in here. Y'all know I love this stuff.

Someone's list of the Top 6 Mindless Money Wasters:

1. Convenience Stores - I am a SUCKER for these. I don't know what it is about 7-Elevens and gas stations, but I cannot go in there and avoid spending money! It's like they rounded up the best of the goodies and put them all in one spot - Slurpees, beef jerkies, coffees, lottos - LOVE! Very hard to resist (which is why you should avoid 'em like the H1N1 (remember that?)).
2. Cell Phone Plans - Got me again! Damn iPhone and its damn convenience ;) But as I've mentioned before, the extra $30-$40/mo is totally worth it to me. Don't wanna cut this out.
3. Soft Drinks - Success! I've been doing pretty well in this category ever since giving it up for Lent 3 years ago. Only drink it on the weekends, and we get a super-duper pack from the grocery store whenever they go on sale - it lasts months now.
4. Unnecessary Bank Fees - Oh hell no. I don't do bank fees very well...not to say I never mess up, cuz I do!, but just that I have no qualms calling up good ol' USAA and getting it worked out ;) When you have a decent record you can get away with a bit more.
5. Magazines - Hmm....yeah, I probably pay my fair share here. I'm signed up to 5 that cost around $75 a year (Money, Kiplingers, Smart Money, Fortune, and This Old House). Well worth it for the information, and keen on my eyes during daily work commutes.
6. Annual Credit Card Fees - Neverrrrrrrrrrrrrrrrrrrrr! I don't see the point in these unless you run some company that saves you a lot more in return (although that Black Card is pretty sexy).

So yeah, nothing too shocking with these money wasters, but it's always cool to check in and see if there's room for improvement. Or rather, if you DESIRE to make any improvements I should say ;) How do you guys fare with these?

Labels: blown money, in the real world, one of my lists

I have no idea how crazy this is going to sound (esp. since I'm no economist), but I found this question posed by the Huffington Post extremely fascinating. What if the unemployed worked for the checks they're receiving?

Here's a quote from one of the guys interviewed - Glen Blackburn - who's been unemployed for 18 months:

"Put me to work digging ditches or helping build roads. Anything is preferable to sitting on my butt. This would give those of us on unemployment back our pride and actually accomplish something with the money being spent. There is a work force of a million people just sitting idle waiting for something to do. That is a massive amount of lost labor that could be fixing America's infrastructure. Instead of unemployment, hire me to do that."

That makes me smile on many levels :) First, because there are so many people EAGER and ready to get out there and do something productive. Not *everyone* of course (like the scammers and others who are taking their sweet time on purpose) but a lot really are ready to start working again. Everyone knows it's hell out there so why not give this out as an option? Give it your all and collect for a few months, and if nothing works out try out a job that helps the community?

I'd go insane being rejected all day long at home and would totally take up this offer myself. Put me out there doing construction or patching up all those potholes in DC. Or bet yet, throw me in with all the gov't bloggers and journalists, eh? ;) I guess that would be one of the things to straighten out - HOW, and where, to place people. Do you do it by occupation and location? Age? By the order of project importance? And what about training? Lots and lots of logistics to consider. Although it could quite possibly open up doors to so many NEW opportunities you didn't even know you could do or like!

But what I like most about this idea is that it offers a SOLUTION. It may be crazy and never see the light of day, but at least people are thinking about it. The craziest things can come out of adversity, and the more we challenge ourselves and really think about how we fit into this world the better. I salute you Glenn Blackburn and all the others willing to work for their unemployment checks - way to be creative!

Labels: career, crazy economy, in the real world

Stocks are great to know about, yes, but even BETTER would be basic financial management. Who gets right out of high school and starts investing before landing their first job/credit card/own apartment? I know people do it, I just don't see the logic (although I'd admit it does seem more fun).

Check out this comment by girlwithredballoon on an older post of mine:

"You know, I took Personal Finance in high school, but they didn't teach anything about credit cards, compounding interest, different types of student loans - none of that! They taught us how to write checks, and then we had to play a stock market game where we chose companies to invest in. I know investing is important but knowing the dangers of credit cards ahead of time may have helped me to avoid them in college!"

Exactly! I learned how to write checks and balance a checkbook in Senior year too, but that was about it. There was no mention of 401k, IRAs (were they around in the 90's?), credit cards, or just plain saving. But of course we had to play those stock investing games! God forbid we leave school without doubling up our FAKE money.

Maybe I'm naive, but I just don't see how investing in individual stocks should come before the main pillars of personal finance. Think about it. Say a student triples his/her money in the "fake" market and then thinks he/she can make it big in real life and tries to out game it all? The odds are against them, especially if they think they can do it again in the 3-4 months allotted like in class. They then lose a chunk of their money and end up walking away thinking investing isn't for them.

Only INVESTING isn't about just individual stocks! It can be a main ingredient, but there's plenty of other places you can put your money - CDs, bonds, mutual funds, target-date funds, treasury bills, etc etc. Stocks can do wonders for your portfolio (I love 'em to death!) but you should have a grasp on the rest of the areas before jumping in and playing.

You teach a kid how to save 10% of all their income, or pay their debt off on-time, and it's a whole new ball game! Not as fun to teach I'm sure, but it'll stick with them MUCH longer than some crazy stock game. Am I right? Am I missing something here?

Labels: education, in the real world, money management, personal finance, stock market

As I sit here typing this, the DC is getting yet another 10-20 inches of snow - on top of the 2+ feet we just got! I don't know where you live, but this is craziness for us. I think we got like 5 inches total last year ;)

But as I "work from home" for the 4th business day in a row, I'm realizing just how much I could care less about money right now. I know it'll change when all this is over, but at this moment there's only one thing I really REALLY want to keep right now - ELECTRICITY.

If Benjamin Franklin were still around I'd pay him back in so much beer he would have never invented another thing! haha... I'm telling you, the second you lose electricity you realize just how wonderful it is.

Think about it - without electricity we can't:

• Keep warm (or at least w/ our set up)
• Keep our food from going rotten
• SEE (unless you got mad candles)
• Take hot showers
• Cook (if you have an electric stove)
  
• Use the Internet!
• Blog/Check emails
• Use online banking to do online banking stuff
• Use the ATM to get out cash
• "Work from home" (you like how I keep quoting that?)

And on and on and on. You can have a billion dollars in the bank, but without electricity these days you couldn't even access it. Electricity is totally my currency right now, and I just pray we have enough to weather the storm - literally! So if you don't hear from me for a while, you'll know what I ran out of... even the iPhone dies after a while :(

Labels: in the real world, life

Paying for debt blows, but finding new ways to keep motivated doesn't :) And this morning I came across a BRILLIANT way to help put things in perspective! (Or perhaps give you a heart attack, I'm not sure which)

It comes from a good blogging friend of mine, Matt Jabs, and what he does is simple - he calculates just how much interest he's paying on his debt EVERY SINGLE DAY! All his mortgage interest, credit cards, loans, everything. And want to know what it's costing him? A whopping $40.13! And he gets squat from it in return. How's that for motivation? Knowing you're giving up $XX every single day until you pay it all off? Freakin' crazy mang - puts a whole new realization of what debt's doing to ya. (and yeah I know, I typed "mang" instead of "man" - I can be ghetto like that)

Now since I'm projecting Matt's debt all over, it would only be fair that I do the same ;) We don't have credit card debt or any loanage (thank God), but we certainly have mortgages up the posterior! And they come in at a pricey $350k at that.

So if we extract the total monthly interest we're paying ($1,800), and then divide it by 30 days, we're paying......drum roll please....$60 every day for our debt! WOW. That's seriously incredible to see it laid out like that, and it's not even including principal! I honestly thought we'd hover around $30-$40 a day just like Senor Jabs, but this REALLY puts things into perspective. $60 every day evaporating into thin air - unbelievable.

I highly recommend breaking it down yourself and seeing how it affects you. And if you're in the mood, dropping it in the comments and letting it out for all to see. Perhaps it would feel good? ;) Either way I think knowing this # could really help step up your get-rid-of-debt gameplan.

And if this interests you as much as it does me, check out Matt's "How much your debt costs" spreadsheet! I'm going now to add it to my best of templates/spreadsheets because I think this is some really really good stuff. You know I love me some tracking!

Labels: debt, get motivated, in the real world, interest, tools and resources

There are chicks actually doing this - can you believe it? Selling your virginity for money?! Oh man, talk about entrepreneurs ;)

But let me ask you this. Honestly, if you could take it back - knowing what you do now about it all - would YOU give up yours for a large amount of money? And if you say no, which I'm guessing 85% of you will (you know we'll have some guys raise their hands on this one), is there a price point that would change your mind?

It's funny. Whenever I hear about this stuff the first thing that crosses my mind is "What the f*ck?" WHO would do that? But then as I read their stories it gets less offensive for some reason. They need the money to go to college, or they need a new house, etc etc. I'm not saying I agree with it or that I'd do it myself (I wouldn't - I'm a good little Catholic boy) but I find it extremely interesting that others would. I mean, they're not only doing something so out of normalcy here, but they're doing it publicly!!! For everyone to see - knowing they're gonna get slammed for it! (no pun intended) It's absolutely stunning.

And if you think about it, you KNOW it's going to be the safest sex ever. The winner/highest bidder will get checked out like none other to make sure he's (she's?) clean as a whistle, and there will be bodyguards everywhere making sure the guy's not a psychopath. Which, lets be honest, would be hard not to come across as.

Unless, perhaps, the person "buying her" does it in order for her NOT to give it up! It's a long shot, but anything's possible right? If you had a billion dollars and were totally against this nonsense, would you jump in and save her? I sure as hell would. If I were clever enough to think of it first ;) Can you imagine the press I'd get for Budgets Are Sexy doing that!! Or even working on BUDGETING that in? haha...oh man, good times.

But enough about me, what do you guys think? And what do you *honestly* think, not the answer you know we want to hear ;) Is there a price that you just couldn't turn down? Say, $2 million dollars? Or are there just some things that are strictly off the table?

Labels: blown money, cockamamy indeed, in the real world

You know the times when you've got something wayyyy cheaper than it should have been? And not because there was a discount, but more like a mistake?

Well, we had another of these last weekend and wondering what you would have done ;) We can't could go back and change it or anything, but it's always a fun topic to discuss on personal finance blogs. (in fact, it was a similar article from I Pick Up Pennies that reminded me of this)

The Item in question: Bocce Balls

While the Mrs and I were returning all our holiday gifts that didn't pass the test last weekend, I came across a set of bocce balls! And not just regular ol' bocce balls, but Eddie Bauer sleek ones ;) I wasn't specifically looking for them or anything, but when I saw they are marked down to $27 from $40 I got excited! I've been playing a lot with my boys lately and thought it would be cool to pick up a set and introduce it to my family - esp during our yearly beach trips. (If you've never played bocce on the sand, you've gotta try it! So fun.)

The "Situation:"

When we went to pay for these magnificent set of balls (that's what she said?) they rang up as $7.99! And even odder, as "Socks." Now, obviously they weren't socks so we asked the cashier to take it off and try again. So she did, and it again showed up as socks for $7.99. We explained to her yet again that something was wrong, but she was just like "it must be on sale even more," and some of the people in line also started commenting like "Wow, you got a great deal there!" No one seemed to care, and all parties were content on us just going about our merry way. So we did. It wasn't until we got to the car when we realized someone had literally TAPED the bar code off from a ripped package of socks and pasted it there on the bocce set. WTF? We thought about going back and trying again (for the 3rd time), but we drove off instead.

Are we bad people?

I'm about 1 for 3 right now with these things (the first was taking gas @ 33 cents, and the other was going back to pay for a skipped beer charge), and each one of them seem to have the same variables going on - the cashier messes up, we bring it to their attention, and they either fix it or they don't. I feel like we *should have* gone back and tried AGAIN with this one, but at what point do you just say F it and move on?

Labels: bargains, in the real world, morality, shopping

It seems credit card debt has risen 18% in the last 6 months! This does and doesn't surprise me. It does cuz it seemed the public was getting better at managing their finances due to the jacked up economy, but it doesn't in that jobs are still going out the window and we had the holidays to deal with. Plus, people revert to their old ways in a heart beat ;)

Anywho, I got a whole mess of stats sent over by Credit Karma this week and I thought you'd find it interesting - especially if you live in any of these states. Here's what the U.S. Credit Score Climate Report found:

• Indiana - credit card debt increased by 39%
• Michigan - credit card debt increased by 30%
• Oklahoma - credit card debt increased by 32%
• Pennsylvania - credit card debt increased by 30%
• Tennessee - credit card debt increased by 34%

I'm surprised New York or California wasn't on there, although I don't have any real reasons to back up my theory. Michigan totally makes sense w/ their unfortunately high unemployment rate :( Any of you who live in these states noticing this trend? Credit Karma also researched the average debt from their 87,000 users:

• $8,079 in credit card debt
• $184,940 in home mortgage loans
• $53,744 in home equity loans
• $14,899 in auto loans
• $26,692 in student loans

I'm happy to report I only fail at 2 of these 5 categories ;) We've got absolutely no credit card debt, auto loans outstanding, or any student loans on the books. We do, however - and to my chagrin (always wanted to use that word!) - have $287k in a home mortgage loan, and $63k in an f'ing home equity loan. As you can tell I'm not the happiest home owner these days, but we deal with what we got ourselves into, right? Anyways, I'm a sucker for stats like these and comparing myself to the "average joe." It's nice to see where you land when you work your ass of like we do :)

Labels: crazy economy, credit cards, debt, in the real world

This is a guest post from Michael @ the Dough Roller

When most people think of investing, they think of stocks, bonds and mutual funds. However some everyday expenditures are actually investments in your future. The car you drive, house you buy and even clothes you wear are all calculated decisions made to further increase your wealth and overall happiness in life.

If you're single, dating can fall right into the investment category. Now of course, true love can happen at anytime, anyplace between anybody. Truth be told, you have a better chance of finding true love if you are well dressed and out and about, rather than wearing your 1996 sweatpants watching the Fresh Prince marathon on Nick at Nite. For the purposes of this article, I'm speaking specifically on behalf of the men out there, and I'm assuming you're suave enough to find a girl that enjoys your company. The question is, how much are you willing to invest over the course of one year to keep her?

First, let's discuss the necessities. In one year, there's probably 5 dates that every man needs to keep on his calendar if in a relationship. Those dates are:

• Her Birthday
• Valentines Day
• Christmas (Or you're religions' relatable gift giving holiday)
• 6 Month Anniversary from your first date (Probably)
• 1 Year Anniversary from your first date

At the bare minimum, these days require cards, meals and gifts. Being an average spender, you would probably spend around $150.00 per occasion (some cheaper than others), which brings the yearly total to $750.00.

Next, lets talk about regular dates. For most relationships, weekends are reserved as "us" time which entails less fancy dinners, movies, shows ... and other entertainment. Assuming that you have 20 full dates a year (dinner and entertainment / $60 average) and 20 half dates a year (one or the other / $30 average) you're in for another $1,800.00.

Any woman will tell you that spontaneity is crucial in progressing a relationship, so special gifts like flowers and chocolates every once in a while would be a good idea. If you're a big spender, then you might be inclined to purchase more high-ticket items but sticking to the basics and going old school will probably run you $250.00.

Enough about her, what about you! In order to feel your best, you have to look your best, so you better be ready to go shopping. She won't want to be seen with some schlub, so you're wardrobe comes into question. New shirts, pants and even underwear can get expensive if you go designer but staying with the American Eagle and Wrangler, expect to pay another $500.00 so you're not sticking out like a sore thumb.

Finally, you better believe that she'll want to travel with you on some weekend adventures. Maybe it's camping, a trip to the big city or a Vegas getaway. Either way, once or twice a year, it's nice to get away from the standard dating scene and plan a vacation with your special someone. Sticking to your plan would probably cost an average of $500 a trip (Vegas high / Camping low), which would set you back a $1,000.00.

So, if you're old fashioned like me, and feel that paying for dates is the gentleman's responsibility, one year of dating could cost you a total of $4,300.00. That's a pretty penny to spend on pretty Penny and if you're not careful, you might have to repeat the cycle a couple of times before you get it right. The good news is that the longer you spend with someone, the cheaper it should become over time, until of course the day you go broke and buy the engagement ring!

----------
This guest post comes from Michael, a contributing editor of the Dough Roller, a personal finance and investing blog, and Credit Card Offers IQ, a credit card review site.

Labels: guest post, in the real world, love

Oh yes. And then, when you get there, you should ALSO have to pay for all your beers and liquors and wines. Yup, if you don't spend at *least* $50 at your company party, you are a total embarrassment.

I mean, why should THEY have to pay for you? Did you come in at least 5 days a week? Work 'till 5 every day - maybe even to 7 or 8 or 9 at times? Did you put up with all those cranky customers? And/or co-workers who you *still* can't believe got their jobs? Who are actually your superiors? I didn't think so.

You see, as the holiday memo clearly states, the budgets are tight this year. You wouldn't believe the trouble it was to even BOOK the conference room we're squishing into. Sure it's in our own offices, but how often do we really get to spend quality time together? If management could, I'm sure they would have totally paid for it. After all, it IS in our honor.

I don't know what you're complaining about anyway. Look, none of your twitter friends are getting free rides:

• @pmmaldonado: Um, yeah. As a former NYC employee, I can tell you that we paid for all of our holiday parties ($50/food/open bar was norm)
• @yousuckatkijiji: Same deal at my company, 'til the "staff association" helped fund it. $25 per, plus cash bar. Times have changed...
• @JoeTaxpayerBlog: Same here. $30/head plus cash bar.
• @3princessesmomm: Our work party this time is a lunch in our break room and the company is supplying cold cuts for our potluck sub sandwiches
• @nicoledixon: Wow, that's wrong - isn't the point of a holiday party to reward employees for their hard work throughout the year...GEESH! (Editor's note - @nicoledixon doesn't know what she's talking about)
  

So be thankful, fellow co-workers. Not everything's "about you." If we don't support each other, you can say goodbye to the Christmas bonuses too. Wait...what's that? Oh, I see...Christmas bonuses have also been cut. Okay, well you know what that's not really the point. The point is, we're a team. And as a team, we have to make sacrifices together. Now go get dressed. If I don't see you in the copy room dancing, you won't have a job next year either.

-----------
This post was inspired by my father, who, if you couldn't have guessed, had to recently pay for his holiday party. $30 for the ticket, $40 for a gift, and $XX for the beers he drank. The sarcasm was an added bonus, courtesy of Stanley Bing whose FORTUNE columns inspire the dickens outta me.

Labels: crazy economy, holidays, in the real world

We spend a lot of time cutting back and saving, and doing whatever else we can to ensure a healthy nest egg, but there's something to say about SPENDING too.

You know that saying, "Money can't buy happiness?" Well, I believe it's only partially true. Money can't buy you love, or youth, or that feeling you get when you've accomplished something so amazing!, but it CAN buy you plenty of other niceties.

Take traveling for example. You think you can fly around the world (comfortably) without any money in your pockets? Or experience a 4 day bender with all your friends in New Orleans scot-free? It's possible if you're a super hacker, but not for most of us. This stuff costs money, and the more you have of it the more you can take advantage IF you so choose to. Money gives you options.

The same goes for entertainment. Hitting up the movies, playing video games, looking at "membership" sites (you know who you are), taking your significant other to a nice dinner - it all costs something. $hit, even sitting here blogging costs money! I gotta dish it out for my domain name, the hosting, the internets, the itunes playing in the background, all stuff I look forward to every day.

You can do your best to save save save, but if you don't spend spend spend (within reason) you'll drive yourself bonkers. It reminds me of an old friend who used to study his ass off at college and refused to socialize. Whenever I'd invite him out he had the same ol' line for me - "Gotta lot of reading to do! Sorry, man." It was like clockwork, and actually really freaky. You can probably guess where I'm going with this, but he didn't graduate with the highest of honors. Maybe he didn't test well, or was just lying to me the whole time (never!), but I'm pretty sure he just maxed himself out. Ya gotta have some stress relievers in life, and money can help that.

Good financial management is all about balance. As soon as you stop treating yourself you're heading toward one of the extremes. Make sure to catch yourself and pay for some of that happiness! I don't wanna see you sad with a million bucks in the bank, okay? ;)

---------
PS: That painting up there is another example. It cost me $98 to complete (48 of which came from dollar bills alone), but every time I look at it I freakin' smile! Love that thing.

Labels: in the real world, life, money management

So I got an email from a friend of mine this weekend, and she's faced with an interesting quandary.

Usually I can come up with some sort of advice (especially when it comes to money) but this one's got me stumped, and I'm hoping you guys can chime in and offer her up some of your own words of wisdom :)

Here's what she wrote, followed by my own helpful-but-not-really thoughts on the matter myself:

Hey J,

It's Brandi from - Brandi's Healthy Journey.

I have a dilemma... kind of. If you haven't read up on the blog recently my car exploded on the highway. I've had tons of people helping me out by lending me a car, taking me to work etc etc. This includes a few people looking for car options for me. These people have been great in sending me links to cars. Taking what I know I can afford and listening to what I want.

However, without asking me, my grandfather just today went out and bought me a car. He BOUGHT me a CAR. And he won't tell me how much it was (prolly at LEAST 2000 more than I told him I would pay) and he will only let me pay him the original $2500 I was budgeting for.

Now this has graciousness and awesomeness written all over it. However, to me it doesn't feel like a gift. I feel as if I'm going to owe him. I can't afford to owe him more than the $2500 I budgeted for. I also can't live with myself knowing that I do owe him. I didn't WANT this. I was working through it on my own. I was proud of how well I was handling it and I was going to be really proud when I found myself a deal I could handle and do it without having to owe anyone money. Well at least serious money.

So I'm asking u for advice. I don't know what to do. I tried talking to him about WHY I didn't want to buy a more expensive car before he went and did this and he did it anyway. Am I just being proud? Am I being stupid and ungrateful? I just feel as if he's cut the legs out from under me. I told him what i was looking for and what I wanted and that I would pay for it. And now, I feel as if he disregarded everything I asked and just did what he thought was best because 'I didn't know any better'.

What should I do? What CAN I do?

Thanks Dude,
Brandi

Tough one, right? My instinct was to tell her to accept it now that it's already happened, but to make sure her grandfather truly knows how she feels about the whole thing (that she's thankful, but also very upset). Unfortunately though it wouldn't solve her problem with the budgeting aspect, nor the feelings on paying him back (or not).

I then wondered if there was a way she could just return the car? If that were a possibility, she could remain thankful but politely decline the car, show she's a strong person, and then find the car she really wants without any more "paying back" worries! She thinks the only way she could return it at this point, though, is if she were to sell it her herself and then pay him back with the proceeds. Plus, she still doesn't know how much her grandfather even paid for it, nor how insulted he would be.

So, my dear readers, what do YOU think? She's given me permission to post this up, and is really looking for some honest to goodness feedback here :) Thanks guys!

Labels: advice, car stuff, in the real world, reader mail

I would save a crap ton of money! And eat a lot healthier too. I might have to go to bed every night at 9, but it's not like I couldn't use the sleep and steady habit anyways.

In all honesty, I'd give it a shot in a heartbeat. I don't know how long I could last (or that the Mrs. would even allow it (she wouldn't)), but it's definitely something I think about every now and then. Like, every 30 days when the mortgage is due ;) Or when my blogger friends talk about doing it themselves!

While I'm probably the only twenty something actually *wanting* to live back home again, you'd be hard pressed to deny the sweet financial benefits to such a situation. Free rent/mortgage, food, cable, internet, phone, homeowners insurance, condo fees, the list goes on and on. We'd of course have to revert to 6th grade with all the chores and cleaning up we hated to do back in the day, but it's not like we don't have to do them anyways, right? $hit, I'd even move in and pay them half of what our monthly housing costs add up to! We're talking big buckaroos here, friends.

According to our monthly expenses, we'd save roughly $3,000 a month! My freedom is enjoyable, but is it really worth $3,000? And on top of that, all the stuff that un-minimalizes us? I gotta admit, if I weren't married and/or living 2 hours away I'd at least give it a shot. That is, if they upgraded from AOL dial-up and got HDTV ;) Only halfway joking there...

Unfortunately, I'm afraid those glory days are long gone for us. We do live farther away and we do have a lot of stuff that ties us down - not to mention the future family we want to start with some baby-making! While I like it or not, it comes to a point when you really do have to get out there and make something of yourself. At least according to my dad ;) For all I know he wouldn't let me back even if I tried! haha...I'm sure I could convince him (or have mom do it), but I know parents like their freedom just as much as the next person.

Regardless, the financial aspect is extremely intriguing. I may not be able to take advantage of it myself, but if you're in the lucky stage in life I say go for it. There's no shame in saving up and getting your money in order before getting out there on your own - esp. if you've got some debt piled up already. You might not find it as exciting as I do, but if you can stick it out for a bit you'll have a lot less stress and a lot more fun to look forward to.

Labels: bargains, home ownership, in the real world, saving

If you haven't seen this Jay Leno clip yet, you've gotta check it out (but only if you like to laugh!). It's one of his "Jaywalking" bits and it centers around money matters - Enjoy! And thanks to Fabulously Broke for finding it:

Labels: in the real world

Fellow blogger Len Penzo asked some of us what our worst buyer's remorse experiences were, and it took me all but .3 seconds to recall mine.

It was a BIG one (the most expensive purchase of our lives) and it drives me crazy to think about. But regardless of all my huffing and puffing, I'd never take it back as it got me to where I am today - financially aware. Do you know what it is yet? I'll give you another clue: It rhymes with "mouse", and we live in it. Here's what I sent over to Len - in all it's honest glory (and before you say it, no, the market crash is not the reason for my remorse. It doesn't make me feel any better, but it's not the reason).

Whenever I hear "buyer's remorse," the first thing that comes to mind is my house. Not that it was the only thing I've ever questioned (I can't even count THOSE numbers of times), but just that it's the only product you can't return and get your money back when you need to ;)

We all know there are pros and cons to owning a home, but if I had known what I know today, I'd be still renting and enjoying a more stress-free life. Financially I won't ague that owning is better than renting, but people should realize that owning is NOT for everyone - especially if you get antsy and like to move every few years just for the adventure (like me). I love our 3-level lake view townhouse dearly, but what I wouldn't give to be back in the city rockin' out a cozy 1 bedroom condo!

Now is this anyone's fault other than my own? Nope. And have I learned a lot about getting my finances on track and being more responsible? Oh yeah. But If I could do things over (and keep the knowledge I have now), I would totally go back to renting and feeling "un-trapped". Whether my wife would be okay it or not, however, is a whole other story ;)

Ahhhhh, the joys of being a home owner. I'm pretty sure my military upbringing can account for 99% of my feelings here. The wifey says I should learn to get used to it and work on settling down in one place, but when you've moved around your whole life it gets pretty hard. And weird. I've lived in over 20 different houses, how the heck does a guy like that just stop and stay still?

Well, I'm sure I'll learn to at some point. But for now, I just make due with the situation and try my hardest to enjoy what we've been blessed with - a beautiful house we can afford and live comfortably in. It may not be a perfect lifestyle right now (and it sucks that it's under water), but at least I learned my lesson and got it out of the way. It feels good knowing I won't make the same mistake twice :)

Next time, we put in more research and take a good hard look at our options before just jumping in. Did I ever tell you we signed a contract within 48 hours of seeing this place? When we accidentally drove by it? Even though we were looking for an apartment to rent? Yeah, we sure did. And we were crazy....even if it was our "dream home." Now what you got?

Labels: home ownership, in the real world

There's been many a times I've been picked on for being frugal. Mostly during my prepubescent years, but even now I've been known to give a few of my friends a good laugh. I'm sure they were all just jealous (at least that's what our mothers always says, right?) but either way I say who cares.

Who cares if our frugality and craftiness distracts people? Are they the ones saving a few dollars? Anope - we are. And because of that I say keep on doing your thang! As long as you're happy and not breaking any rules (*ahem* Phil Villarreal) who cares about these boring people and their spend-crazy lives. We like saving money and we're not afraid to admit it!

In fact, I'll even admit to some thriftiness right now: I used to sneak cheeseburgers into my pockets all the time at the movie theaters :) I'd swing by McDonald's 10 mins. before start time and pick up some double cheeseburgers right off the $1 menu! Not only was it cheap, but it was craaaazy filling. And when that didn't work out, I'd just raid the nearest 7-Eleven instead and grab myself 3 assorted candies back when they were 3/$1 (remember those days?). No way in hell was I spending $50+ on theater food.

And after thinking about this for a bit, I wondered how many others got made fun of for similar things? There's gotta be a lot of us, right? Oh yeah, DEFINITELY right. Check out all the responses I got back after dropping the following note around the web:

Anyone ever make fun of you for being frugal/crafty?

Via Twitter:

• @SpendOnLife: "Allowing myself time to "sleep on it" when making large purchases has been a source of laughter for my friends."
• @BudgetPulse: "Every now and then stay in on a weekend night to save money and get laughed at for it."
• @ThomasJFox: "All the time. Some mock my frugality; however, I am able to save 32% of my income because of my choices while they save 0."
• @MoneyManagement: "My daughter recently took a doll (Janet) she handmade to a tea party. All of the other girls had American Girl dolls."
• @CreditGoddess: "Got teased once for pulling out a calculator at the grocery store to figure out savings on buying single vs. 4-pack."
• @littlespace: "Heh. Yes, I get teased. Esp about how I tie environmentalism into it - eg. no paper plates cuz bad for earth & waste of $!"
• @luciagia: "I just im'd my boyfriend to remind him to bring home the ziplock bag his lunch was in. Perhaps I'm a little too frugal."
• @mycesi: "Friends laughed at a coworker of mine for only having basic cable. He used that xtra money to invest in a rental property :)...All my friends make my fun of my use of coupons at restaurants!"
• @CanadianFinance: "I always hear about it at work... "why do you always bring your lunch?", "do you ever buy anything at regular price?", etc."
• @ModernTightwad: "Most embarrassing to me ever, some of my husband's family joke (hopefully) that I'm a lush because ... we go out to happy hour specials. The food specials are cheaper than I can cook, and I don't have to clean so ... it makes good sense ... (Although they do look @ me oddly when I order a coke) Probably doesn't help that when I do cook, I make a lot of beer roasts. (Chp Tndrizr)"
• @MrsMicah: "your mom got teased for being frugaltastic last night, but they shut up when i told 'em she was with me. :)" (hey now, how'd this one sneak in?)

Via Facebook:

• Nicole Canfora Lupo: "My friends rag on me because I patch my clothes, darn my socks, sew my own purses and make my own curtains."
• Nicole Ouellette: "The newish boyfriend seems amused at my frugality (the man 'woots' daily) but boy, did he like my homemade enchiladas the other night! Frugality = tasty and clever...Yup, one person at a time, I'm trying to change people's minds about being financially responsible but cool..."
• Jesse Michelsen: "Yea I've been called super cheap, etc. I just take it with a smile and shoot em a grin followed by a wink when they say "I have to wait till payday to buy laundry detergent""
• Shelley Harrison: "This is the first year that I will be buying a tree in a loong time for the Holidays. We will be making ornaments since it is not in the budget this year."

Via the Money Blog Network Forums:

• PT @ PT Money: "BA$, did your friends call you the Hamburgler? (Hah!) I was made fun of for going without cable TV for the last year. I had friends and family members who would focus on that like it was the end of the world. They seemed to believe I was trying to get rich by going without cable TV alone. When it was just more practical for me to use Hulu.com and over the air HD channels. Frugality is about spending smarter, not just spending less, I think. And spending smarter is just one piece of my overall plan for financial freedom."
• Stephanie @ Poorer Than You: "...a friend seriously told me to "grow up and stop getting free furniture off of Craigslist - you're not in college anymore."...I mean, come on, how is 22 (almost 23... birthday is Friday!) and just out of college too old for free furniture that's in good shape? Actually, why is there an age on that at all?"
• Financia of Financial Freak Show: "My friend always gives me crap about not going on vacation with them last year...until I pulled up at his house several weeks ago after just paying cash for a sweet used Lexus SUV and parked next to his $588 a month new truck....he said he liked mine more :) I told him he couldn't ride in mine since he stunk like a filthy payment book"
• Mr. Tough Money Live: "I have lots of liberals in my family. I wouldn't say I am frugal as much as I am fiscally conservative and strategic with money and, of course, write about it regularly. My liberal family members extrapolate my fiscal conservatism into a full-blown political label and then mock me as an alleged Bush/Chaney/Palin/etc. lover. Generally, it's those who don't have much money that mock the most. It's all in good fun but it is further proof that how you treat money in your own life can provoke interesting reactions from others."
• Roger @ The Amateur Financier: "Not really; my girlfriend has teased me a bit, particularly about starting up a blog about money (for some reason, it seems to amuse her), but I haven't really taken any slack for saving/investing. Although, on the subject of sneaking food into movie theaters, I do that, as well; sneaking candy bars into the theater to avoid paying $3-5 for a box of Junior Mints. But, everyone does that, right? Right? RIGHT?"
• Kevin @ No Debt Plan: "My friends do take little jabs at me for being frugal, but they also know it is paying off. I'll top both of you -- we don't go to the movies. Ever. Too expensive and I used to work at one in high school. No desire to go back which is good... saves us $20-30 on tickets and food."
• Wife of My Journey To Millions: "Hello, This is My Journey's wife. He sent me over to this forum when he saw this because he knows I am constantly getting picked on for being frugal. Here is my outlook on why it's good to be frugal: The importance of things. It's funny because I almost got chosen to be on the Rachel Ray show for my frugality. I guess others were worse than me because I didn't get picked. But I certainly think you get farther in life being frugal than you do being a spender...and I also believe rich people stay rich...by being frugal (in their own way of course)
• FFB from Free From Broke: "I've been called cheap from time to time but these were from people who spent freely. I've had lots of "come on it's only 20 bucks" type of replies from friends. Interestingly, when I respond that since it's only $20 why don't they pay they never take me up on it!"

So there you have it. We all get made fun of for saving money! And if you're reading this, chances are you TOO have been the source of these chuckles. But, as always, just brush that dirt of your shoulders and keep on pocketing them dollars. Life's hard enough to be worrying about these jokers - stand up and be proud.

Labels: frugality, in the real world, money hacks, saving

Every now and then money has a funny way of testing our morals. A year ago I wrote about a gas station incident where people got charged 33 cents/gallon instead of $3.30, and the comments that followed were pretty freakin' interesting.

It's easy to think how we'd react when looking from the outside in, but until you're caught in the middle you really never know how it'll play out. A recent journey to the beer store reminded me of just that. We had gone for some quick restocking of beverages, returned to the car, and were about to take off when I noticed the receipt was awfully low. Only $11 dollars for a 6 pack and a bottle of Fort? (by Dogfish Head which runs around $20) I'm no math genius, but that sure as hell wasn't right.

This is where the dilemma comes in. Do you:

1. Take off and save that $20? After all, it was their mistake and you're already in your car. And would they even notice it anyways? or...
2. Go back like a good little boy & have them swipe your card again? Money-wise this blows, but then again we should have been charged for it from the beginning.

At $20 a pop, I was ready to slam on that pedal and get outta there as fast as I could ;) That was, of course, until Mrs. Budgetsaresexy stepped in and slapped me back to reality. Of course they'd notice $20 missing! Plus, we LOVE that store, as well as the person/possible owner who rung us up. There's no way we could dick him around like that.

So we went back in (or, I should say the Mrs. went back in) and got it all taken care of. And I must admit it felt good. I'm pretty sure I would have gone back by myself anyways, but you never can tell sometimes. It's an excellent reminder to double check your conscience and make sure your actions are matching up with your morals. Would you all have done the same?

Labels: in the real world, morality

Do you guys talk about finances with friends or family members? How about co-workers (hah!)? I'm willing to guess you don't. Or at least not as much as you'd LIKE to.

It's a good thing we have this blog world and the internets or we'd be scrambling for some good financial advice and community outlet. I mean, where else can you post your salary and complete financial history for everyone to see without getting shunned? Kristen from Filife recently left a comment on my last post about learning from the recession, and it really made me happy (and inspired this post). She added a #6 to my top 5 lessons, and it went like this:

"#6: It's possible to have open, honest conversations about money with friends and family!"

How awesome is that? While it seems to be working out for her (hooray!), unfortunately I haven't seen much of this myself. Talking about money is just as taboo as talking about sex, if not worse. I can always hit up my cube-mate and tell him about some crazy drunken "fun" I had the other night, but dare tell him about my salary increase? No way in hell, that's crossing the boundaries my friends ;) And to be honest, I can see where it gets a bit shady with co-workers. I do believe that certain levels of information should be closed off so that no one gets pissed off or jealous.

Talking finance with friends and family

When it comes to our closest friends and family members, however, I think keeping an open door about this stuff can be incredibly helpful. I'm a big fan of free information here on the net, but there's something inherently better when you're face-to-face with someone discussing your situation or pleas for help. These people know more about you than us bloggers or financial T.V. reporters. They know your strengths, your weaknesses, and just how emotionally involved you are. They're your loved ones and they lookout for your best interest :)

So why don't we open up more? You've got me. I'm always surprised by the looks on my friend's faces when I tell them how much we paid for our townhouse ($360k) or when I sneakily insert my salary ($75k) into a discussion just to see what would happen ;) It's possible they're just shocked at the price we paid for our home, or that I get paid so much to do so little (only half the truth btw), but more than likely they're amazed I just spilled our top financial secrets. And if I really wanted to throw out a zinger, I'd tell them how much money we have in our savings! But only if it's appropriate of course, you don't wanna get all showboaty or anything.

Should I be hiding this from them though? Am I an absolute loon for trying to add more substance to our financial conversation? Possibly. I really don't know the right or wrong answers here, just that I WISH it would be a lot easier to talk about. Imagine if everyone dropped their barriers and were more open to detailed discussion! Don't you think we'd learn more or at least understand the reasons why we are where we are? I wouldn't just release the information all willy nilly-like, but there are certainly times and places where doing this be more beneficial.

How about you all? Do YOU feel more free to discuss this stuff? Or am I just a rambling fool trying to stir up a little controversy ;) Either way, I thank you guys for being here and allowing me to bare it all each and every day. Together we really can talk about anything! (Even how to spell boobless upside down on a calculator: 55378008)

Labels: in the real world, personal finance

Every now and then I like to see what people are typing into Google to get to my site. Mainly for some good laughs (you'd be amazed at the different variations of sex terms hitting this site), but also to see if I'm answering any of the questions being entered.

Overall I think I do a good job, but most of the time someone is asking for specifics and facts over general personal finance. Unfortunately I'm no expert so I can never say Absolutely - do this! or No way, you'll go to jail! But I can give you my two cents on just about anything, and it's always free of charge :) So today, I copy and paste some of these terms searched in the ol' Google machine and give you my complete and honest opinions as always:

How much is a leased car worth in your net worth?
$0.00. Same with renting an apartment. You're paying for a service and you don't own anything (unless, of course, you end up buying it out at the end), so at this point it's just another bill you have to pay. I wouldn't put it in your net worth.

Would it be crazy to quit my job
Yes! Unless you already have another lined up. Or you're just plain miserable and would be happier working at McDonalds just to get away from your boss. Not that there's anything wrong with that :) Better yet, hit up Starbucks like I would in that case.

What kind of dress to be worn to attend a wedding
Hah! Contrary to popular belief, I'm actually a guy. I know I use a lot of :)'s and !!!!'s, but I have no idea what kind of dress to wear. Actually, I take that back - wear a freakin' HOT one.

Average net worth in the u.s.
Love these questions! I took a snapshot of the average net worth in the US last year which I liked, or you could check out CNN Money's net worth tool that determines the average worth around YOUR age & yearly income.

Best online budgeting sites
You've come to the right place ;) Here's a great list of free budget templates I've collected over time. OR, if you're truly going for an online budgeting site over spreadsheets or google docs, check out Mint.com. An excellent & free resource for budgeting, learning about mutual funds (bet you didn't know that?), and are now sporting an investment guide.

Should i quit my job my hubby makes alot
Lucky you! Perhaps you can help that person above and start your own side business: How to marry a rich man ;) But in all honesty, you should only quit if you're not enjoying yourself or you'd rather be spending your time doing something else. You're fortunate enough to not have to work for money, so if I were you I'd totally do what makes you happy and use that passion to do something good in the world. At the very least, being out there mingling and networking with people is usually better than being at home doing nothing.

Best pickup line millionaire
Coming right up! How's this: "Call me your mutual fund, honey...'cause with you, I'm showing interest." No? Try these other sexy pickup lines.

Things you do to save money while broke
Walk to places more, read the books you already have, use all the food in your house that you already have - like those boxes of muffins 2 years old or that big sack of flour taking up all that room ;) You could also try picking up hobbies that are not only cheap, but that save you from spending money down the road! Planting vegetables and eating them, drinking tap water over buying bottles, or my favorite - taking things off your walls or from your drawers you don't like and selling them on Craigslist/eBay!

Personal finance is not that hard
I agree! Have you been reading my posts on this? ;)

Why do good poker players lose money at online poker
Because they're too emotional. You can be great at anything in the world, but as soon as you start listening to your feelings and emotions (good & bad) you change your game. This is why I myself suck at poker 90% of the time. I get too excited and/or bored and start playing differently just to entertain myself. Unfortunately you are who you are and you can't really change this much, but maybe if you pay closer attention you'll catch yourself and tweak your game plan before going All In w/ a 7, 2 off suit.

Seth Green worth
A few laughs? I really don't know. This search comes up every few days, very strange.

Max out 401k?
Yes - great idea! You get free money from your company (hopefully), and you reduce the amount of taxes getting taken out of your paycheck every 2 weeks.

High interest savings account do we combine our money or get two separate accounts
I'm thinking you accidentally added the "do we combine our money or get two separate accounts" to your first search of "high interest savings account" here, but regardless I have a post on how we manage our marriage financials.

What to do if you they want you to take a pay cut
Accept it so you don't get fired, and then start looking for what else is out there! Unless you really REALLY love your job or you believe them when they say it's only temporary, it may be a sign of worse things to come. And believe me, I know about this. Spend 20 mins a day poking around Craigslist or emailing friends to see what kind of opportunities are around town. Just don't do it at work ;)

Minimalist living
Something I'm slowly working on! Check out my latest post on the minimalist lifestyle - there's even a fancy doodle.

Would you rather have a well-paid job or that which make you happy?
Usually, I choose the well-paid job. Lately, I've been gearing towards the one that makes me happier though. Right now I'm blessed to have a job that I'm both happy at AND paid well, but in this economy it could change at any time. Check out this very would you rather question I posted back in July to see what others thought.

Gym women free sex
Woahhhh there partner! If you're going to the gym to look for free sex, you better be ripped. And also be a lot smoother than the ones using those sexy pick up lines we already mentioned - they won't work.

That's it for this round - hope you learned something today! If you liked this let me know and I'll start doing it more often. It's kinda fun answering a whole bunch of different questions than just focusing in on one specific theme. Happy Hump Day!

Labels: advice, in the real world, personal finance, randomness 3000

I've had both good and bad experiences loaning out money to family members, but renting from them and paying their mortgage is beyond my comfort level. In theory it should all work out fine (after all, you're blood right?) but in the real world people tend to get hurt or taken advantage of.

Unfortunately, an ol' college friend is experiencing just that - getting stepped on because he doesn't want to ruin his relationship with both his brother and his dad. My friend means well, but it's time he starts to consider his options before he loses even more of his sanity...and money! Here's a play by play of what's going on:

• My friend Good Brother (as he shall be named from this point forward) decided to live with Bad Brother and pay him rent (aka part of Bad Brother's mortgage) as well as 50% of the utilities.
• For 2 years Good and Bad Brothers were happy.
• Then one day Bad Brother decided to go back to school and move half-way across the country.
• Good Brother was sad to see him go, but happy Bad Brother was pursuing his dreams.
• Bad Brother asked Good Brother to help him fill the occupancy while he'd be gone (2+ years), and since Good Brother is, by nature, Good, he had no problem helping him out.
• Good Brother tried and he tried and he tried, but the recession had finally hit and he couldn't find a suitable renter. It had now been THREE months and it just wasn't working.
• He explained to Bad Brother that his asking price was too high (all the while paying 100% of the utilities now), and that his brother needed to lower the price and the rental terms.
• Bad Brother wasn't having it and decided to try himself - only Bad Brother was more talk than he was action (and Good Brother didn't realize he was being taken advantage of yet) so they let ANOTHER three months pass only to remain where they originally started- without a 2nd renter.
• It turns out another culprit had come into play - lack of motivation. The reason? Crazy Dad.
  
• You see, trying to make things better and "help out," Crazy Dad had decided to subsidize the amount of the 2nd half's rent so that his son (Bad Brother) would have enough to pay the mortgage each month. While nice in theory, this has only caused more delays in finding a roommate as the sense of urgency has quickly disappeared.
• On top of it all, Crazy Dad and Bad Brother believe Good Brother needs to be held responsible for filling the vacancy - family duties and all.
  
• Good Brother is now pissed.
  

As it stands - now SIX MONTHS later - Good Brother is still paying 100% of the utilities & the vacancy has yet to be filled. Only now, Good Brother is starting to realize that it's not his responsibility to find this elusive roommate, and he's thinking of moving out. Why should he continue paying an extra $150 every month or continue getting bashed for not finding a roommate? Is this really HIS responsibility? Personally, I think not. The one who owns the house should be the one maintaining and paying for it - no one else. Ask his father or brother, and they'll tell you differently though.

Now, there's probably more to it than what Good Brother tells me, but the reason I post all this is to illustrate the importance of being careful. Mainly, being careful when it comes to mixing money with family members. Some of the times things work out great! But it's those other times that really put a strain on your relationships, and the times I hope you're able to avoid.

So please please PLEASE think it through when considering money arrangements with your loved ones. If you decide to go for it, write down in complete detail the arrangements you'll be making so everyone's on the exact same page. We all think it could never happen to us, but money has a strange way of breaking families apart. So please, be careful out there :)

Labels: advice, home ownership, in the real world

Remember those? The ones you made right before you partied like it was 2009? I didn't, until my shower this morning started populating my head full of random thoughts. And I must admit, if it weren't for this blog I'd probably have forgotten them altogether. Alas, it is all tracked on this super duper weblog.

I find it's good to go over these every now and then to a) make sure you're still on track, and b) give yourself a pat on the back for all you've accomplished (or, if deserved, a punch in the face for being a slacker. Luckily though, only you get to be the judge of that). Let's see how I'm doing, shall we? My 2009 New Years Resolutions:

Personal Finance

1. Pay off the last of the car loans - $3,214.87. Completed! I paid off the entire Cadillac, along with the other loans I had associated with it (selling my Highlander had left me $1-2$k in the whole. Stupid SUVs and '08 gas gouges). Going on month #6 of no car payments!
2. Combine and analyze the Mrs. and I's money - expenses, assets, net worths. Shockingly, this is also done. We combined all our finances on paper/spreadsheets back in January and have looked forward ever since. We keep a few accounts separately in our own names still (like our "do whatever" funds), but we track 'em all as one big net worth. It still feels kinda weird though, I'm not gonna lie.
3. Hit $2,000 on the sell-o-meter. FAIL. The sell-o-meter is still frozen at $907.00 - exactly how it was 9+ months ago. Every time I find something to sell, I end up piling it in a corner and convincing myself it's not worth the time at that moment. 50% of this is true - blogging has taken up way more than it used to - and 50% is just plain laziness. It's true I value blogging & internet time more than selling something for $5 or $10, but I also know that I don't want that stuff in the house anymore and I have to kick my ass into gear to either sell it or donate it. Especially now that I'm trying to be a minimalist :)
4. Have a combined Net Worth of $125k. Soooooo close! $6k away and hoping to hit this by the end of September :) For the dirty deets, check out my net worth updates to see how it's progressing.

Life In General

1. Write more letters instead of emails 24/7. 75% FAIL. I wrote like 5 letters in January to old high school friends, but after the novelty wore off I just plain forgot. Maybe I should put a goal like to send 1 letter every month or something? Even if it's just to my mom - they love that stuff :)
2. Put up crown molding and new light fixtures in the house (yikes!). BIG FAIL. Have not installed crown molding NOR new light fixtures. I still have the urges to do this, but money and time are just getting in the way right now. I think I'll leave this be until next year's resolutions ;)
3. Travel to a new foreign country! (we won't count Bahamas) Another FAIL. Although I've done a helluva job circling around some incredible states these days - New Orleans, New Hampshire, Pennsylvania, and as already mentioned - the Bahamas! Ireland is reason I made up this goal though, trying to figure out the best time to go still.

Bloggy Blog: (* = long shot)

1. Keep blogging at least once a day, M-F. Done and Done. Sometimes I even do two (*gasp*). I've considered switching to 3 times a week, but I write much better under stricter deadlines when I'm forced to dig into this brain of mine last minute. Most of my favorite posts came when I initially wasn't in the mood to write (as crazy as it sounds, I really don't like writing in general).
2. Hit 2,000 subscribers! * We're getting there :) I'd happily retire the year with 1100+ anyday.
3. Make a total of $6,000 through advertising. ** Completed! I don't know how, or why for that matter, but there's been an upswing in my advertising efforts. Might blog more on this later.
4. Get featured in the media (TV, Magazine, Consumerist) *** No TV, but I got into my first magazine this month AND on Consumerist - twice! Not to mention one of my favorite big blogs MSN Smart Money (featured there a handful of times this year). Great GREAT few months in this department, and actually working on a "BudgetsAreSexy In The Media" post which will come out soon. Perfect for those days I'm hating on myself.
5. Interview a celebrity about their money skillz ***** Does J.D. and Trent Count? How about Ramit? ;) Financial bloggers aside, I've scored a big goose egg on this one. Although I haven't put much effort into this until recently - I shot over an interview request to Chris Cooley, a rock star NFL player for my Wash. Redskins. His people haven't gotten back to me yet, but it's safe to say my hail mary pass will go uncaught (hardy har har). In the meantime, if you have celebrity friends SEND THEM OVER! I'll handsomely reward you with a 6 pack of virtual Natty Light and a dozen or two email hugs. Maybe more if I'm feeling feisty.
   

Overall I'm happy. No Pressure, No Problem as I said back then. Life has been good and I can cross half these things off the list now. I don't know if I'll be spending any more time on the failed ones at all, but as long as I'm working on *something* I'll consider it a win. That's really the point of all these resolutions - to work towards bettering yourself. If you can figure out a way to make that happen, you're head of the rest out there.

Speaking of which, how are you guys coming along? Anyone whipping my ass? Anyone give up already? Do you even REMEMBER what your resolutions are? Can I ask you yet another question?

Labels: goals, in the real world, life, one of my lists

I'm so glad I don't smoke cigarettes. In my 29 years I have yet to puff a single cigarette, and my wallet thanks me for it :) Coffee, on the other hand, is a whole other topic.

So today I figured I'd compare the two and see which is FINANCIALLY worse for you, as we all know that smoking beats coffee in the health department any day.

And interestingly enough, I came across this awesome Top 10 Money Drains post Bankrate put together a couple years ago which lists both coffee and cigarettes in the top 2 slots! So this is truly a battle of the most expensive vices we consume, beating out even alcohol (at #3) if you can imagine that.

The Cost of Cigarettes:

According to some averages around the net, it looks like an average pack of cigarettes cost about $5 and an average smoker goes through a full pack a day (20 cigarettes). Some quick math tells us that's a good $35 a week, or $140 a month, totaling a whopping $1680 a year! That blows, but just reaffirms my non-smoking happiness.

I actually thought I was one of the only cigarette virgins left on the planet too until I tweeted about it and found out a lot of you guys don't smoke either! How wonderful :) I took a snapshot of the tweets & facebook comments if you wanna check it out, I thought it was pretty cool to see. (you may need to click to zoom in on the image, it's pretty big.)

The Cost of Coffee:

It looks like the average cost for coffee runs you about $1.30ish (non Starbucks I'd imagine). So if you drink just a cup a day, let's say, you're looking at around $440 a year. If you ARE drinking Starbucks though, and some crazy concoction taking a good $3.00 from you each time, you're now looking at $1,000 per year - if anyone could seriously stomach that much coffee! I'd probably knock it down to about $800 a year factoring in a skipped day or two every week.

The Cost of Cigarettes and Coffee!

ERROR. ERROR. CAN'T COMPUTE. haha...I don't actually know too many people with this particular problem, but just for curiosity's sake let's give this a shot. If we add in the cost of cigs above, along with the cost of coffee we already calculated (non-Starbucks), they'd be looking at a $2100 yearly pricetag! That's one bad mother of a money suck.

Needless to say, cigarettes are financially worst by far. Even if you cut them out by half you're still spending more than on coffee. Plus, there's the whole addiction factor. While you might *think* you're addicted to coffee, smokers have it much much worse for sure (or so I'm told). Not only are they shelling out gobs of money to sustain this habit, but they are physically addicted and have a way harder time quitting than 99% of us coffee drinkers.

If you're one of these puffers, does the $1680 a year average sound about right? I'd be interested to see how much you really spend on them. If you've never calculated it, try out Cancer.org's cost of smoking calculator (fitting, huh?) to get a better idea. And if you're trying to quit, our prayers are with you!

Labels: blown money, in the real world

I had an interesting encounter with a Starbucks barista this morning. I'm riding the metro doing my aloof thing when all of a sudden I hear this "Hey! Grande hazelnut coffee, right?". At first I was like "Awesome, someone else is a fan!" and went back to la-la land (aka playing Yahtzee on the iPhone. haha...) Then I realized the chick was staring directly at me!

It turns out she used to be one the baristas that hooked me up back near our old office. And since she's always been pretty friendly, I figured I'd tell her about my dreams of working there one day :) For all who don't know, I have this list of 5 places I'd like to work at someday, although I'm not sure I blogged about that before?

Anyways, I started picking her brain about what it's like to work there in hopes of getting the "inside scoop." I can't remember the entire convo (even after just 15 mins! aye..), but here's more or less what she told me below. And probably tweaked more to the pros considering she REALLY loves her job:

Working at Starbucks: The Pros

• You meet a lot of cool people! You're surrounded by energetic and entertaining co-workers, as well as mostly fun customers. People love their coffee and are generally in a good mood when they get to you - especially in the mornings before any craziness occurs that day.
• Starbucks has great health benefits. I didn't have enough time to ask specifics, but she said it was really good and she has no complaints.
• You can relocate without a problem! Want to move to California? Easy peasy! How about Texas? Fine by them! You've got Starbucks scattered across the entire world that are always looking to fill a position or two. In fact, this particular barista told me she's now at her 3rd state in 4 years @ Starbucks so far :) Although she did say that moving overseas isn't *as* easy as xfering in the States, but she's heard it's doable as they'd rather higher someone who already knows the ins and the outs over a noob. Either way, this is a job perk I could get used to.
• Job security is pretty good. Unless you do something stupid, you can spend quite a few years with Starbucks. Since there ARE so many shops around the world, you really don'teven have to worry about your particular shop being closed down - you just move right down to the next one or two. And in DC, it's like literally moving a block ;) A friend of mine has FOUR fo them within a 5 block radius. It's crazy. (crazy good!)
• There are stock benefits. Unfortunately my new friend doesn't participate in this program (and believe me I REALLY wanted to shake her good), but she did say most of her co-workers do. One of them recently cashed out all his stocks and used the money for a down payment on a house! I again didn't have too much time to pick her brain on it, but it definitely piqued my interest. I also wonder how long her friend worked at Starbucks, and how much, exactly, he invested in this plan.
• There is/was a great 401k plan. We didn't actually talk about this today, but I've heard that Starbucks has a great one - or at least used to before this economy went to crap. If any of you know what it's like, or works there, drop a note and let us know!
• Time goes by really fast - at least during rush hours. When you're helping one customer after another, time flies like a mother.

Working at Starbucks: The Cons

• A small % of the customers are dicks. They see you as low lifes working a job that pays pennies, and they treat you like you're their bitch. Most of the customers are pretty cool, but these are the people that ruin your day and make you wish you weren't doing what you do. Sometimes, however, it's satisfying to watch them get thrown out if they start getting abusive (all according to this chick, anyways). It's alot like retail in that regard, except at Starbucks they bitch about something that costs $4 instead of $40.
• You have to clean a lot. She doesn't hate this all the way as it keeps her busy and has to get done anyways, but it's not the funnest thing to do in the world. Apparently this is what goes on between the morning and afternoon rushes.

That's about all of it. I wish I had more time to pick her brain, but I guess I'll just have to wait and see what's it's like when I actually work there one day ;) Pretty interesting how much you can learn from a quick 7 minute metro ride though! Especially when it catches you off guard like that. Who knew I'd be pondering the ins and the outs of Starbucks all morning?

Labels: career, in the real world, starbucks

I forgot to brush my teeth today, can you believe that? It's something I do twice a day going on 25+ years now, and yet this morning I forget to brush them. I couldn't tell you why either, all I know is that it sucks. In fact, it makes me wonder how many other times I may have forgotten! And of course, this naturally reminded me of finance ;)

Forgetting to brush your teeth is like forgetting to pay your electric or credit card bill. You deal with them time and time again, but every now and then you simply forget! It doesn't matter how organized or pimp you are, it just happens and you suck it up. The difference being, when you forget to brush your teeth you're left with only stinky breath. When you forget to pay your BILLS, you're left with a stinky late payment charge as well as a stinky kick in the pants. Personally, I prefer the bad breath.

What can a busy person do about this? Automate!

It won't help you in the teeth department, but automating your finances is one of the best (and easiest) ways to stay on track. Methods like auto bill pay, auto deposit, auto reminders, or even just ghetto ones in your Outlook or on your iPhone - it all helps. If you're REALLY good, you can automate almost 99% of your financial life! Check out this graphic from my girl Jenny over at Life After College:


Talk about a game plan! She sets it all up ONCE and then she's good. It's just a matter of checking in every now and then and making sure everything's kosher (thanks for letting me share this Jenny!). The more you can automate this stuff, the less likely you're going to forget something - and it also helps with big savings accruals over time! If you're still not convinced, try flipping through the The Automatic Millionaire and see what that does for you. It was CRAZY good in getting me off my a$$.

Now if you excuse me, I've gotta get on over to CVS and find me some toothpaste! One day the internets will be able to do that for me too ;)

Labels: advice, in the real world, money management