This blog is about the monetary issues and ideas that are upon the college generation. Getting jobs, spending and saving, and trying to live the high life on low income are just a few of the things that will be discussed. BY NO MEANS AM I A FINANCIAL ADVISOR - just someone who's interested in making my money grow
So, as everyone on this campus knows, it's exam week.
I am taking this week to concentrate on my work and move out and do all the things you have to do in your last week of school, but I will be back with new posts next week.
Consider this: If you were guaranteed a comfortable living for the rest of your life, what profession would you pursue without abandonment? For me, it would be photography. I love photography . I love taking pictures of family, friends, buildings... pretty much anything. I generally just love to capture the memories. However, the average salary of a photographer is $35,000, which isn't much.
If not photography, I would love to pursue cooking, organizing, or maybe writing.
Yay! It's my favorite time of the year - book buyback time, where I can attempt to recover a small percentage of money back on the books I had to buy for the past semester. I only have one book this year - from an online course I had to take - and have already had it "appraised" online. It's worth about $50 all around, which is good for me - that's a tank of gas! I usually end up at Off Campus , since they have always been able to give me more on my books, and buy back ones the Supe Store , who is pretty particular, won't take.
However, there are other places in the area:
Alabama Book Store, has two locations on Bryant Drive (one near Tutwiler and one near The Strip) , and they're pretty friendly.
Depending on how much you get back, you can use your money to treat youreself to an end of the year present, or put the money towards getting something for Mom - Mother's Day is May 10!
Check out these iPhone apps geared at money management.
If you are a discount member at this store, you are allowed to use their wi-fi for free- it's included in your discount. It's a great venue change from the library, so take advantage of it!
My mother, the oldest of five kids who lived in a two bedroom house all of her life, often told me of stories where my Paw Paw would make a game of being late with bill payments: when the water was cut off, he would run around the back of the house and cut it on again and shared a special bond with my mother over the fact that she was able to yell at creditors over the phone just like he did. Both he and my grandmother held steady jobs and worked hard all of their adult lives. Paw Paw, a WWII vet, was able to retire and live off his pension, but my Grandma continued to work after her retirement, partly because she wanted to and partly because she had to. She has been working up until this year, when she was forced to quit her part time job due to health problems. This is not uncommon, as most of the women who live on Grandma's block are over the age of 75 and still work 9 to 5 to make ends meet
Mother, on the other hand, has lived her life a bit differently. She has held a job since the age of 15 and supported herself through college working at the library and through scholarships (she was the valedictorian of her class!) At the age of 23, she got a job with The Penney Company as a manager and held her title and position with them until she retired this year, after nearly 37 years. She has an IRA, a 401 (k), life insurance policies, health insurance, and a house that is almost paid for, along with a monthly pension she will receive from The Penney Company. She has the luxury to road trip to her hometown of Memphis whenever she needs to, and at this point in time can just take it easy instead of having to look for another job.
With all this being said, I think the better question now is: what did Mother teach me about money stemming from what Grandma and Paw Paw taught her about money?
Know better, do better: My mother went to great lengths to make sure she had enough money to retire on and to have something to pass on to her heir. She knew she didn't want to work the rest of her life, and made it her goal to do so.
Take advantage of sales and discounts: My mother had an employee discount from Penney's, and because of that and the great sales they had, she was able to afford me amazing Christmases and birthdays, as well as be a "gift fairy" for my cousins and other family and friends
Use it til you lose it: My mother has only owned two cars since I've been alive: an Oldsmobile, which she drove for 12 years, and a Chevrolet, which she has been driving for the past eight years. I used to think she was just being cheap by not getting new cars, but now I understand it it wasn't broke, no need to fix it.
Own - don't buy - everything: My mother has always owned outright her own home and car, as well as other assets. She never had to worry about someone else taking it back, because she made her payments on time and in full.
Make the most of your investment: In the two homes my mother has owned, she has made vast improvements: hardwood floors, a storage house, and other indoor improvements have increased the value of her home.
If I think about it, my financial education has been with me all along - all I have to do is apply it accordingly.
I think I am going to start a new tradition this year.
While browsing on ebay (as I often can be caught doing), I came across this to-die-for tote by Matt and Nat:
The Marais Tote retails for $260, but if I'm lucky I can get it for a fraction of that. I originally felt guilty for lusting for it, but then I realized that since my birthday is five days away, I want/need a new bag, and I'm trying to be more of a professional? why not treat myself and say Happy Birthday To Me!
I think I will.
Now I have to figure out what to buy myself for graduation!
President Obama has started making budget cutbacks in his own workplace, namely within the many departments that make up the Cabinet. He has begun a $100 budget cut challenge that will be in effect over the next three months. Small steps are key, ranging from ordering office supplies in bulk (Homeland Security) to switching to video conferencing (Veterans Affairs). Bigger changes though, like consolidating 1500 employees into a single office,(Agriculture) prove to be a bit more challenging.
Although you have to admire the President's tenacity, the cuts will only chip away at < href="http://hotair.com/archives/2009/04/20/obama-demands-00029-budget-cut-after-running-up-spending/"> less that 1% of the National Debt. I think that the President hopes leading by example will help others to focus on cutting spending. Thoughts?
I'll admit for me, it's been quite a bit in the last month.
Generally, I only use my card to cover gas, which runs me around $40 a fill up, but lately I have had to use my card for what I consider "inevitable debt".
For instance, about two weeks ago at the Graduation Celebration, I plunked down about $400 for invitations and a cap and gown. Last week, I spent $200 on car repairs. And I still had to get gas. It hasn't been pretty, but I have not had the cash to cover these expenses. This worries me because I don't want to have any debt when I move to DC in June (yep, stilll going!)
According to CNN.com, more college students are using their credit cards as a means of survival. The average freshman has $940 dollars in debt, and only 15% of college students have a zero balance on their credit cards. While there are several people in the hole, this does not make me feel better, or even comforted by my situation. I don't ever want to end up near that amount, although it seems that I am on my way :-( Friday I declared that I wasn't going to use my credit card until it was completely paid off - but that was before I drove home and ended up on an empty tank. Generally I am able to pay off $300 a month, but it is clear that I am going to have to work extra hours or sell my books early to accomplish this goal.
This morning at the Rec, I was catching up on the US news and events in between commercial breaks from Keeping Up With The Kardashians (the number one show you're not watching!) , I saw a story on a woman who purchased a billboard advertising that she needed a job. She spent $7000 to post a billboard that tells those interested to go to Hire Pasha to find out more.
This is a big leap of faith - she should at least get an A for effort. What do you think?
So although I can't afford the subscription, I love to read the morning paper while having my coffee. I inherit that from my mother. :-) She loves to do it on Sunday mornings, while I prefer Fridays, which are the least stressful days in our weeks, respectively. I like to take Friday morning, a day when I don't have class, sip on a Pike Place Roast from Starbucks (a splurge that I can't do without), and catch up on the news from the week past. I read my hometown paper as well as The NY Times and The Post, and The Huffington Post. Anyway, the reason I tell this story is because out of all the reading I love to do, there is one publication in particular that runs a certain article every year that I run out to grab: The annual Parade What People Earn issue. They always do spotlights on celebrities and regular people, and I love to see what people really make and how they save and spend their money. For example:
A Special Ed Teacher in Texas makes $51, 800 a year; An Office Manager in Florida makes $52,000 a year; A Landscape Gardener in California makes $77,000 a year.
Celebrities in particular:
Jennifer Aniston made $27 million last year; Britney Spears made (only) 2.25 million(!); and Tiger Woods made $110 million last year - gosh!
The article also reported yearly statistics:
■ The national average weekly income rose 2.5%, from $598 in 2007 to $613 in 2008. Inflation increased just .1% over the same period.
■ The personal savings rate rose from .9% in January 2007 to 5% in January 2009.
■ The average U.S. household had $10,728 in credit-card debt.
■ 56% of workers received health-care benefits through their jobs.
■ 56% of workers participated in an employer-sponsored retirement plan.
So, in reality, I guess some jobs are (or aren't) "worth it" in terms of a dollar value. And, your salary can increase or decrease by where you live. I guarantee you the landscape gardener wouldn't make nearly as much in Alaska; and I thought that with her endorsement deals Kelly Ripa would be earning more.
You know, what are the things that you really want to do in this lifetime? Go on safari? Start a business? Eat Fugu sushi? According to the site Life After College , this list should be about your true passions, what you would love to do rather than what you are expected to do. In my personal opinion, writing these things out allows you to visualize them more and work towards attaining these goals in your life.
Here's mine:
Go to Paris Own a house in Georgetown with a pool Live in DC for at least five years and start my life See Stevie Wonder, Robin Thicke, Beyonce', and Harry Connick Jr in concert See Mount Rushmore Take a professional cooking class Become a yogi and then get good enough to do one hour of yoga with Russell Simmons
So, I've given you guys some pretty good ideas to mull around as graduation is (literally!) around the corner! But now, yours truly is here to give you the rundown on what I have been doing and what I have been doing/ plan to do:
How I would like for everything to go: I want to graduate from UA and have a paid internship waiting for me in DC. I want to complete the internship, which would be either in PR/marketing or government, all the while looking for jobs after my internship is over. I want to get a job as a Staff Assistant or some related position in the House of Representatives or the Senate and work there for a couple of years. I plan to start my graduate degree either online or at a DC area school in Fall 2010.
What I've been doing to get there: I have applied for every paid (and some unpaid) internship under the globe and have been doing phone interviews and email correspondences all semester. I've used every resource available, including Craigslist, the going on individual websites, and even scouring DC magazines just to find out the names of random PR groups to see if they are hiring. I have contacted every person I know who has a DC connection to see if there is anything open, as well. I have done and redone my resume, cover letter, and have distributed it everywhere the sun touches down in the District.
I decided not to apply for grad school right now just because I'm not feeling it. I know that if I were to go to school in the fall I would hate it and wouldn't be able to reach my full potential. I feel burnt out, anyway.
I thought about a few more places to apply for internships but shot them down for the following reasons: - Atlanta: too crowded and I would need a new car (my old one is two oil changes away from the grave.) - New York: way too expensive and I wouldn't want to live there. - Los Angeles: I would want to live just like Lauren Conrad, but that is impossible. - Memphis: not enough opportunities in what I want to do. - Nashville: I don't know enough about the city except that it's pretty. I know that in theory I could live at home, but it would only be a matter of time before the arrangement would go sour. I do plan on spending a few weeks there though before I move on.
I already have a place to live in DC for the month of June, so if my plan falls through and I have no place to intern with at all, I am going to go out there for the month and do as many informational and job interviews that I can. If it's no dice, then I am going to take the GRE and apply for grad school for Winter 2010.
I've been saving money like crazy and will have enough to cover my first month's rent and a decent amount of spending money saved by May. I hope to collect enough in graduation money that I can save some and spend some this summer. I've been thinking about investing in a mutual fund, but I digress.
So, in a nutshell, I am wanting to go to DC after I graduate. How about you?
Yikes. I know that headline is very scary, but sometimes moving back home is just what some people need before they move forward with their lives. Moving home, while a bit of shock after being at college for four+ years, carries a lot of benefits with it.
- Free or reduced rent. The biggest perk of moving back home is that you get to live there rent free! You get a lot more bang for your buck as opposed to someone who is paying for a cramped efficiency. Some parents and children negotiate a rent plan, though- just to not feel like a moocher or to make their living at home seem more legit, or they offer to help out with utilities or some other household expense.
- Free food and/or laundry. Everyone can benefit from a fluff and fold and fresh smelling sheets on a regular basis, as well as having access to Mom's cooking and free snacks. Not having to worry about buying groceries or cooking meals for yourself can take a load off. But don't be irresponsible - offer to help with the cost of groceries, or at the least, buy your own. You can also use the access to the stove and oven as a way to learn some cooking basics if you have been living in a dorm.
- Time to save money. Take the time that you are living at home and get a job - even if it's part time - and start saving money for your next move (you can't live there forever, you know). Several post - graduates live at home because housing is just too expensive in their market. You can take the money you are saving and put it toward paying rent on an apartment or toward moving expenses to another city. Don't take this time for granted - or you'll end back up where you started - again!
Drawbacks of moving home:
- Living with your parents again: While the amenities of living at home are great, it can also mean a loss of both independence and privacy from your parents. They may feel that since you are in their house, you are going by their rules. That means no dirty shoes left around the house or unwashed dishes - or in some cases, staying out all hours of the night. In addition, you have to realize that they have grown just as comfortable living without you as you have living without them - it's an adjustment for both parties. - Awkward run ins with other people living at home: The one thing I truly hate about going home for an extended period of time is running into everyone I ever came in contact with during my life. It seemed like that I ran into at least five people every time I ventured outside of the house during Christmas vacation - and they are always full of questions! While your life's decisions are really none of their business, there is nothing wrong with being courteous and simply saying, "I'm taking time off before I make my next move." Address it and go on. Although, you may be able to reconnect with old friends who are in the same situation as you and use that time to hang out and try new things.
Ways to make the transition easier:
Negotiate an agreement with your parents: It doesn't have to be a formal, signed agreement, but agreeing to mow the lawn or feed the cat for them is more than fair. Don't be unwilling to help them out - they are doing you a favor. Explore your old stomping grounds: Take time to get reacquainted with your old surroundings. The Dairy Queen where you used to go after football games may be long gone, but there are always new haunts popping up - it just takes someone who's curious enough to find them.
Take a road trip every once in a while: even if you are from the most rural place, there is a big city to be found - just hop in! Take the time to plan a fun weekend - find new restaurants, shops, and local attractions- you may even find a new place to call home. Don't seem like a slacker - If you are living with your parents "just until you get a job", make the effort to actually search for one and send out resumes. This will show them that you are indeed making an effort to move on with your life. For more info:
Here's an article on how to make the transition easier: Moving Back Home
Watch Failure to Launch, a movie starring Matthew McConuaughey and Sarah Jessica Parker that focuses on a family's plan to finally get their thirty - something child to move out.
Read one of my favorite books: At A Crossroads by Kate Williamson. The author chronicles her move back home, which went from only lasting three months to nearly two years.
So I realized that these posts have become very lengthy... I am going to try to not blab so much and get to the point! This post is provided by Epinions.com
Graduate school can help give you a competitive advantage in the workforce. If you get a chance to go, seize it! You may not get the chance again.
For most students, the next step is to find a good job. But for others, there’s another important decision to make: whether or not to attend graduate school. But is graduate school really worth the trouble? Does the selection of colleges make a difference? What can be expected in graduate school? Is it much different from undergraduate education? Let’s take a look at the pros and cons of attaining an advanced degree.
Deciding Where to Go: If you are considering attending grad school, the first thing you need to do is to find a college that has a reputable program, in your chosen field of study. This might require moving to another city or state. Just because your undergraduate university had a great program in your selected major, that doesn’t necessarily mean that the graduate program will also be a solid, accredited program. You might very well end up having to relocate to another state, to get the best education for your dollar.
Once you have chosen a school to attend, you then must prepare for taking the graduate admission test (GRE, GMAT, LSAT, etc.) Another important consideration is whether or not you want to remain in your undergraduate field of study, or move on to something different. If you switch your course of study, you will have to take several more classes.
What Can I Expect in Graduate School: For the most part, grad school is better. First of all, students seem to be more focused and more interested in the subject matter. At the undergraduate level, you are forced to take many “general education” requirements, whether you like the classes or not. But in graduate school, your courses are all concentrated in your field of study, so there is less chance that a class will bore you, and less chance that you will lose interest. Every class you take has relevance to your selected course of study.
Is Graduate School Really Necessary?: Before you decide to enroll in grad school, ask yourself a few questions. Do you really need to attend graduate school? Is it important enough to invest the time and money to complete the degree? Will it make a significant difference in your chosen career?
Depending on your field of study, obtaining a master’s degree can make a difference in your career. Those who have undergraduate degrees in fields like psychology, pre- med, biology, etc., can give themselves a competitive advantage with an advanced degree. In other fields, like computer science, the job market is such that an advanced degree isn’t that critical. Also, if you want to teach, at the college level, you will greatly improve your chances for getting hired with a master’s degree.
Another way that a graduate degree can be helpful is that it can give you a much- needed boast, to overcome circumstances beyond your control and help you to compete in the job market. As most people know, the main reason that people get good jobs is based on who they know, not what they know. I was talking one day, to a person in my company’s human resources department and he admitted to me that the way to get places in the company is to have the right connections. “Without any high- ranking friends or family to help you”, he told me, “you’re best bet is to get more schooling, to help even the playing field”. In other words, if your dad is the company CEO, there’s really no need to get an advanced degree. The high- paying jobs will come to you with minimal effort. But without any family or friends in high places, a master’s degree can help to make conditions a little more equal.
If you decide to work and go to grad school part- time, then it’s a good idea to find out if your company has a tuition reimbursement plan. Most of them do, and this can greatly reduce the cost of your schooling, and possibly even make it free.
An internship is the best way to learn as much hands on experience as you can in your profession of choice. Although some interns end up performing basic tasks, such as sorting the mail and making coffee runs (done that) others get the opportunity to work one on one with a person, and even participate in projects and other opportunities within the company (done that too!)
An internship can be what sets you apart from another job seeker in the future. If your employer sees that you have had previous experience in the field, he will be that much more inclined to hire you than someone who dosen't. It means that you aren't a complete amateur and are willing to do more.
Internships are great for getting your feet wet in a new profession. If you are interested in learning about a new career in, say, public relations but you're a business major, an internship can teach you the ins and outs of the job and leave you with at the least general knowledge about your field of choice. Even if you don't choose to work in that area, you have at least had the experience, which makes you a more well rounded person :-)
Upsides: - great experience - meet people in your field - network
Downsides: - can be long hours - many are unpaid - competitive
The best ways to find internships are through who you know. Anyone can fill out an application online, but if you can have someone vouch for your character up front, then it makes you look more reliable than someone on paper. Talk to friends and relatives who can get you a link to the internship you want. Does your cousin know a guy who used to work as a page at NBC? Call her! Does your mom know the mom of a girl who works as a reporter for Rolling Stone? Get on it!
However, on the same sites that can help you find jobs, you can also find internships. Just remember to type in "internship" in the Search line. Also, if there is a company and/or organization in particular you are trying to work with, you can go on their website and contact them directly.
For more competitive internships, the two key words are "early" and "persistent". Applying early WITH YOUR STUFF TOGETHER stands out as opposed to waiting at the last minute. The only drawback is that the waiting period is longer since you turned it in so early. Unless otherwise posted, there is nothing wrong with making a call to find out the "status" of your application once the due date has passed.
They key to making your internship last is to MILK IT FOR ALL ITS WORTH. This means take advantage of every networking opportunity, every opportunity to do actually big-person work, offering to get the coffee (pick up a doughnut too!), going to lunch with the staff, and even scheduling some one on one time with a person you admire. Make an impression, but don't make it fake.
- If you're lucky, your internship may have a job position open for you, or at the least an extended internship. - Once it's over, SEND A THANK YOU NOTE TO YOUR COORDINATOR, and keep in touch with those you worked with; you never know when you need a recommendation, plus it's just courteous :-)
So, in case you didn't know (or didn't bother to read the bottom of this blog), I'm graduating in May. This means I am done with the University. Finished. Outta here. Deuces!
But I'm not the only one! So for those of who who read yesterday's blog entry (I know you did!) it has just hit you that there are only seven weeks of school left and you have no clue as to what you REALLY want to do with your life.
This week, I am starting the "Life After College" series and am hitting you with a list of ideas to explore before shaking hands with our own next door neighbor, President Witt.
So, here goes...
Option 1: Get A Job.
Yes, the economy is in the toilet, but that dosen't mean you can't get paid. Several people are realizing that they aren't ready to tackle another stint in school or don't have the money are just aren't planning to go back period. So for those people who are ready to get into the real world, it's time to get a job.
The first thing to do in the process is to get your resume ready. We all have the little rinky dink one we did in high school or the one we wrote out on the back of our notebook that reads "Past Experience: Who Cares?" But it's time to get serious and get our resumes in order. Thankfully, the University has a Career Center right on campus. The center, located on the third floor of the Ferg, has consultants that will help you do resume critiques, mock interviews, and job searching. The website provides several helpful documents tailored to your major, including cover letters and guidelines on how to succeed after college.
After that, it's time to go job hunting. In this day and age, most would say that all of the available jobs are online. While there are several available, that is not always the case. A very good friend of mine who was a former Staff Assistant in Washington DC recommended going on "Informational Interviews." This type of interview is when you call up a company or organization you are interested in working for and ask to schedule a meeting for "a little of their time - no longer than twenty minutes." This gives you the chance to get in some face time with the staff and drop off your resume and discuss your future plans - even if they don't have any openings at the moment. The point is that someone who took the time to introduce themselves stands out a lot more than someone who forwarded a resume online. It's always good to put a name with a face. So for instance, if you wanted to work for a nonprofit organization that focused on children, you might call and set up an informational interview with The Ronald McDonald House to get a foot in the door. It works!
Of course, time is not always on our side, and for that we turn to our trusty job search engines: Monster , CareerBuilder , and (my personal favorite) Craigslist . On some of the sites, you create a profile and upload your resume so employers can find it faster. On Craigslist, it's up to the browser to follow the directions on the post.
Once you land your interview, it's important to look the part. This means the dreaded "s" word... a suit. Just a simple, black one with a white collared shirt is fine...as long as you project in your personality that you mean business. Business suits have become relatively cheap for both men and women these days - everyone from Target to TJ Maxx sells them for next to nothing.
Remember that most entry - level jobs don't pay much, so don't expect to make 100 grand out of the gate...unless you're just that in demand. Also, it may take time to find a job, so start as soon as possible.
For additional information, consider reading THE job hunter's bible, What Color Is Your Parachute? This guide provides need - to - know info on finding the right field for your interests, how to land a job, and how to keep it.
Networking is just as important in getting your name out there. Consider joining LinkedIn, a professional networking site where you can make connections and find job opportunities.
So, I hold two credit cards: one from Old Navy and one from Citi. The Citi card is the one I use the most, for gas and whatnot. The Old Navy Card I rarely use anymore, mostly because I'm never in that area. Today, I checked my account to make sure my online account payment had gone through, when I saw the button that said "Request A Credit Line Increase." I thought, "Hmm... maybe I will." It is a commonly circulated fact that if your credit line increases, your credit score goes up. However, that is only contingent on how much of the credit line you use. The lower your debt to credit line ratio is, the higher your credit score will be. Well, my credit card has never had more than oh, let's say $125 on it at any given time. When my original credit line was $500, that would have been 25%. When it increased to $800, it would have gone to 16%.
Long story short, I asked for - and was granted an increase - to $1100!
Yay!
I have read that your ration should be no higher than around 35%. But I am going to keep it as low low low as possible.
What about you? Have you ever asked for a credit line increase?
One of my favorite magazines, Real Simple asks a reader what they would do with an extra $100.
Here's my layout:
$25 - Sushi (and a generous tip) at Bento $40 - a pedicure and brow was $30 - coffee, a slice of cheesecake, and a new book from Barnes and Noble $5 - a 3 pack of 5 gum and a Coke Zero :-)
If you find yourself often staring blankly into your refrigerator, looking at the same box of baking soda and old celery, maybe taking the time to plan your meals could help you avoid that situation.
So, apparently the newest food trend is trying to eat on as little as possible. In her blog Less Is Enough Rebecca Currie is out to prove that you can eat just as nutritiously on $1 a day as you can un-nutritiously. She is surviving on a lot of carbs and grains and has lost some weight in the process, but has gained with it the frustration of eating on $1 a day, natch.
The more and more I read articles and blogs centered on this topic, my thought process has gone from "interesting" to "attention seeker." After a while, this isn't cute or triumphant anymore so much as it is just annoying. Really? $1? *sigh*
Would you go this far to prove a point? What do you think of such an extreme form of forced frugality?
Oh Ramen, Oh Ramen You dear, dear friend of mine Oh Ramen, Oh Ramen You've made my cheap life divine You've always been present Through good times and bad Especially right before a payday When my wallet has looked very sad. I've never paid more than a quarter for your warm, comforting taste and you've always left me full- not a noodle gone to waste! Even when I've graduated and moved on to bigger tasks Your memory will always bring a smile to my face Something that will last and last.
I do love Ramen!
I thought of this today when I was browsing in Publix for something to have for lunch. I could have bought sandwich meat, but turkey is way too expensive, and frozen dinners have bored me enough this week. As I was on the canned goods aisle, I saw a glimmer of something shiny in the corner of my life. Lo and behold, my favorite standby, Ramen, was beckoning to me with its creamy chicken flavor - and $0.20 price tag. With tomorrow being payday and today being broke day, I opted for the Ramen, which has never let me down.
Some Ramen - loving websites:
Rameniac a worldwide journey in the world of Ramen
Go Ramen - a blog that explores all types of Ramen - it dosen't all come in the "instant" section of the grocery store!
So one of my coworkers (Hi, Heather!) is always browsing this spot, and turned me on to this fab site for daily online deals - Woot.com
According to the site, Woot.com is a site where one great deal is posted a day. The objects could be anything - I mean anything - from hoses to book lights (follow Woot.com on Twitter. If you like to find cool objects at discount prices, then this is the site for you. Woot!
For me, it's simple: whenever I walk into Target, I automatically end up browsing the Dollar Spot and end up leaving with something totally pointless (like pocket - sized Sudoku For Dummies... I'm pretty much a master now) or frivolous (ooh - new flats! ) - and all I wanted was some juice and a loaf of bread. Or, when I go to Wal Mart, I automatically get lured into the $5 DVD section. Where else would I find classics like this:
Either way, it's a wallet eater and I should stop!
I, Erin Williams, am now officially a SHAREHOLDER.
That's right, I own stock!
I am the proud owner of exactly one share of J.Crew.
Yesssss!
Ok, so I know it's J. Crew and it's only one share, but I finally bought stock in something!
Here's how it happened:
The other day, I was reading an article about how Michelle Obama's preference for J. Crew was leading to a positive gain in sales for the company. It then went on to talk about how she could resurrect fashion, blah blah... but the story got me to thinking: If Michelle Obama can make prices rise, the their stock will go up, and in four years, they could possibly have shares that are through the roof.
So why don't I jump on this and buy some of their stock???
I immediately went to ShareBuilder and started researching prices and facts and figures, etc. But then that old feeling started creeping back up - the one that says, "What are you doing? Why would you buy stock? You don't have any money, anyway.
Oh, but I did. See, Friday was a payday. And after looking at the price of trading and doing some math, I realized that I could afford the one share, for now, and eventually buy more shares and even invest in more companies.
I was sold!
So, Friday I bought the share and Tuesday morning it was completed - it would have been Monday, but it was a holiday.
Now, I know that this sounds a bit frivolous and fast, but here's the thing about me: if I don't do it when I feel the itch, then it will never happen. The timing just happened to be right and I had the money and why not?
So, there you go.
If you are interested in starting out with just one share like me, try OneShare which is a great place to start.
So - random story - Today I saw a picture of TLC on this site and had a flashback to their bio on "Behind the Music." Their first manager took money from them because of bogus contracts they signed. I remember Chilli saying in their "Behind The Music" that "We had done all of this work and hand nothing to show for it."
That quote has always been embedded in the back of my mind and it never had huge resonance with me... until today.
While walking to class, I decided that I would work a few extra hours today in order to have a little more pocket change next week. As I was pondering this, I saw a girl who was dressed cutely for class. She wasn't overly done or looked as if she was trying too hard, she just looked...cute. I didn't know anything about her, but I thought, no matter what she's doing, at least she has something to show for it. That's when it hit me: I've been employed since I was 15. I've worked and worked and worked and I've spent my money on...what? I don't dress particularly well, I don't own a nice car, I don't save like I should...
What do I have to show for all of this work I've done?
If I make money and I do nothing but toss it at frivolous things, what's the point? I feel like I have cheated myself, in a way. I mean, I really have nothing of real worth in my life. I know people who have been able to buy cars, wear designer clothing, have new phones and computer they financed themselves because they were smart enough to want to show off their hard work. Now really, I'm not materialistic, but I feel like I have missed the boat.
I have a confession to make: I haven't always been ... legal... about getting my music.
For a long time, I used LimeWire to get all of my music. I was one of the few computers able to connect to the network, and I was a downloading fiend. That is, until just over two months ago, when my mojo was broken. I came back from Christmas Break and haven't been able to connect to the network ever since. I tried several options: disconnecting and reconnecting the signal, reinstalling, even trying a new program, but to no avail. This led me to a "Where do you get your music?" unofficial poll. I was hoping people would answer with another free network I had never heard about, but out of about 5 people, 4 of them said they were legitimate buyers.
Say whaaa?
Everyone has been buying their music all this time? Are you kidding me???
And so, after minutes of soul searching and being desperate to download new songs on my iPod, I went on a search for the best music sites to get music from at the lowest price.
- Pay about .99 for a song, plus the ability to rent or buy movies, TV shows, and full albums. - PROS: everyone can download iTunes, which is also a music player, and it's easy to use. - CONS: every once in a while, they are lacking on their music selection. I went searching for this song and it was nowhere to be found.
-.99/ song, free 14 day trial - PROS: You can log in anywhere and listen to your paid selections; the songs can also be downloaded onto any mp3. - CONS: 12.99/month membership fee. Eek!
WalMart -.74 - .94/ song - PROS: Great prices, good variety - CONS: They only have music. If I could find movies for purchase for these prices, I would be in heaven.
I ended up going with iTunes, mostly because it was so easy to use, but I have used and would recommend WalMart as well.
No, that is not me, but she has the same expression I do when I swipe my ActCard
I don't know about you, but at the beginning of every semester, I become quietly excited. I get a twinkle in my eye, a little pep in my step... i'm pretty jazzed. Why, do you ask? Only because the beginning of the semester means one thing: Dining Dollars.
Oh, how I love Dining Dollars. I use them everywhere - Buffalo Phil's, Domino's, all the convenience stores... I get to try so many things that I normally would shy away from with my regular money. Such as all the organic stuff we now have. And the pastries they serve at Starbucks. $3.50 is less of a pain when it dosen't come out of my pocket (although, in theory, it already did.) And - you can buy other things with it if you are in a place that sells them: toilet paper, detergent, hand sanitizer - you name it, i've bought it. Well apparently my raucous spending sprees have left me a little strapped, and we're not even through the semester - apparently my $300 has somehow disappeared, and now I have like, $70 Dining Dollars left.
Huh? What? How did this happen?
I personally believe it's because; 1 - I'm taken in by all of the different things to try; 2 - I've already paid for it, I might as well use it as I please; and 3 - I feel powerful swiping all willy - nilly.
I remember as a freshman I divided up the number of weeks that we had in a semester by $300 and came out with $18.75, I believe. I was going to stick to that budget, and did for about a week, until I ordered pizza one night, and realized, "Well, I broke my budget, and you only live once..." I was out by Columbus Day. And this semester, I probably won't make it past February.
Oh well... it's my last semester and my pickin's are slim, and ooh! I want to try that tofu - rice - salsa thing...
Raise your hand if you consider yourself a “hardcore coffee drinker”, yet you can never finish a full cup of coffee and instead end up either ordering a drink that ends in –chino or loading your cup up with tons of sugar, milk, or what have you. Raise your hand if basically, you hate paying that much for a cup of coffee.
Well, do I have news for you!
Ladies and gentlemen, I have cracked the coffee code... sort of.
Starbucks has something that may be able to save your wallet, and still provide you with that much needed caffeine boost – enter “The Short”. Think of it as the Kids’ Meal of Starbucks.
“The Short” is an 8 oz. cup of coffee that Starbucks has, yet they don’t advertise. You can’t find it on the menu – you have to ask for it. I found out about it on a blog and didn’t believe it, until I asked for it one day:
Barista: “Hi, welcome to Starbucks, what can I get you?” Me(leaning over the counter with an air of mystery): “May I have… the Short?” Barista: “Sure.” (rolls eyes, probably because I am still leaning on the counter)
The Short is only 1.50, and is perfect for those of us who honestly can’t finish a full 12 oz without having to excuse ourselves an hour later. The only drawback is that it is not offered at the Ferg Starbucks (of course). But you can get it at the Target one and at the one in Midtown Village.
So, in the past couple of weeks, I've been hearing, "Hey, aren't you The Dollar Duchess?" and although it's very flattering, it made me wonder, how much do my readers really know about me outside of personal finance? The answer: not very much. So, with a little help from everyone else posting this, I am listing my version of the new phenomenon, 25 random things about me. Not to be confused with one of my favorite teen movies of all time:
1. I have a weakness for all things food: I love to watch it, eat it, prepare it, read about it, take picture of it... it's pretty much my porn
2. I am obsessed with Flickr. I learned about it in 2007 and can't go very long without visiting it. I have found an image for everything imaginable, and it makes me very happy.
3. I don't eat beef or pork. Beef because I od'd on hamburgers from the age of 13 - 18, and pork because my dad said that black people lack the enzyme to digest it. I took it with a serious grain of (crazy) salt, but after he said that I was never able to look at pork the same way again.
4. I am a huge fan of The Hills and The City. Those who said it's all fake, get real. You can't make this stuff up. ;-)
5. That being said, I am obsessed with all things fashion. Ob-sessed. The magazines, the blogs, the stores - everything. But, due to my constant lack of funds, I am never able to fully express myself in the full fashionable way I crave.
6. I love the airport. I love the hustle and bustle; everyone there is always on the go. It's so exciting because when you are there, it's always to leave!
7. I watch most of my tv online. I'm never home during the day to catch new stuff, and this summer I was without a TV, so I came to rely on sites like hulu.
8. I love 5 gum in mint. It's so refreshing.
9. The best part of my day is brushing my teeth so I can have that clean feeling when I chew my 5 gum.
10. I once had 7 cavities filled in one sitting.
11. I'm in love with my iPhone. I credit Apple products with enhancing my love for technology, mainly music in particular.
12. Music is my mistress. I love all kinds, but I have a soft spot for 80's R&B and 60s pop.
13. I paint my fingernails only to chip them minutes later; but, isn't that everybody?
14. Up until last semester, I was addicted to comma usage. I took my last English class, and realized, that, they weren't, always, necessary, which disturbed me, just a l,i,ttle.
15. Shel Silverstein is my favorite poet. Who dosen't remember Where The Sidewalk Ends?
16. On that note, books pretty much helped to raise me. I learned about most of the big things in life through reading about them. And whenever I have a huge problem, I always have to do a lot of reading on the subject to come to a personal understanding about the issue.
17. During the summer of 2006, I was a barista for 2 weeks at Crimson Cafe.
18. I do a full body stretch at least twice a day.
19. I love writing thank you notes. I feel there is no better way to get a message across than writing an old fashioned one and sending it in the mail.
20. I want to move to DC after I graduate. I interned there last summer, and it pretty much changed my life. But, I don't know if I'll stay forever.
21. My favorite holiday is Fourth of July. No one expects presents, and barbecue is never too far away.
22. I know nothing about interior decorating. All I need is a bed and a computer, and I'm good.
23. I always have to end up having two of everything, because I end up breaking the first one of whatever I had. This generally applies to Apple electronics: I've had 2 MacBooks, about 10 iPods, 3 iPhones, and countless other repaired products. Luckily I have paid warranties, because if not, I would be screwed.
24. I drive a 1995 Jeep Grand Cherokee. The radio dosen't work, there's a crack in the windshield, the lights flicker when I drive, and the gears shift without notice, but I love it.
25. This is not my first blog. I've tried to start about 2 PF blogs before this one, but I was never able to keep up. Now is my time!
I tag anyone who's up for it; tell me 25 things about you!
So, in my periodic internet scrollings for the latest news in the world, I came upon this story that ran on Good Morning America on the resurgence of the Sugar Daddy.
Sugar Daddies, as have been popularized by American Culture, are typically older men who are financially independent and have money to spend. They support young girls with expensive clothes and homes, fabulous getaways and a substantial allowance. The girl in question dosen't really have to worry about her life - that is, unless she gets cut off.
Would you be willing to go that far in order to be able to afford the finer things? It has always been one of my personal mantras that when someone gives you money you give them power; I know that all too well from my memories of being a teenager and having to have my paychecks budgeted out by my mom. It was such a personal stab for me to be able to make my own money, only to be told how it was to be spent. But, I digress. Basically, you trade money for power, and as long as you use HIS money, he has power over YOU. Not a good trade, if you ask me.
Just ask former girl next door Kendra Wilkinson , who shared this about her life with Hef: "Kendra also revealed the girlfriends were not allowed to spend holidays with their families and insists she disliked being paid an allowance of $1,000 per week, and is now totally against Hugh’s way of life.
She said: “I hate putting my hand out, but we couldn't have jobs other than getting appearance fees. Hef was kind of like my best friend, but a sugar daddy at the same time Hef made me feel beautiful."
Not worth it in my opinion. But then again, I'm 99.9% sure I will never be a bunny...
I am an avid reader. I love to read anything and everything - when I was a kid my mother could punish me by denying a weekly trip to the library. Oh so devastating!
My reading genre changes all the time from romance to biography to essay - but I love a good money self help book from time to time to keep me focused. Here I list my favorites - some I have read more than once!:
Love love love this book. Torabi broke everything down in that late - twenties hipster type way that in the end makes you feel that saving and investing aren't that far beyond you on your two - cent paycheck. A must read for those who plan on moving to a big city but will be on an entry level budget.
I use this book as more of a reference. Suze always gives a straight answer on what steps you need to take to achieve financial wellness. Each book comes with an interactive code, which allows you to access message boards, budget forms, all all things financial to help learn more about personal finance.
I read this book a few summers ago, and was taken in to the real life story of this young woman. The true story of Bosnak moving to New York and ending up on over $25 000 in debt turned triumphant when she created the website savekaryn.com, along with selling her wares to pay down her debt.
Angela Nissel tells us the highlights of her broke college years with humor and wit. Nissel chronicles her senior year of college by her ins and outs with holding on to a dollar. She tells of her many tricks and schemes, which can now be looked back on with a good laugh. From pretending to be a student teacher for the free books to cajoling the electric man to not shutting her power off, this is a fun and fast read.
So, this week, I have been especially excited for one thing: tax returns are going to be postmarked on Friday! Which means, this time next week, we will have W-2's collect on! Yippee!
Now, usually, every year, I have my return sent home and my mother has it filed through her accountant. Her accountant, however, has higher and higher fees every year. I decided that this year, since it's going to be a year of big steps anyway, to go out on a limb and file my own tax return. I have been doing some investigative work and have decided to go on and file online and ask for a direct deposit, which makes for a faster return.
If you are wary about going it alone, you can always search for a CPA (certified public accountant) to file your taxes for you. Just be prepared for the additional fees.
It will save you more than you ever imagined - especially since you won't have any money!
No really, we've all had those days when we've been rushing out of the door, or changed purses or cars and left all of our identification and currency at home. We get ready to buy a coffee, or food, or something and reach into our pockets... and come up empty. This happened to me the other day when I was in one of the many convenience stores on campus. I picked up several frivolous items on my mental list, and then some. As I reached into my wallet to pay for my purchases, I realized that something vital was missing: my Act Card. Silly me took it out to use when I went to the Rec and forgot to return it to its nesting place. Alas, I had to leave my purchases and curse myself for my mistake. But, I was able to hold on to my Dining Dollars a little longer.
So, has this happened to you before? What did you do?
So, sadly enough, a lot of businesses are having to liquidate their assets in order to cover their debt. Doing this, however, means the end of business for some places.
But what does that mean for you, the consumer? Great deals on some of your favorite items. During our day off , I scoured the mall and found that retailer Suncoast (Movie retailer) is liquidating, along with The Icing (accessories retailer) , where I was able to get four pairs of earrings and a headband at the cost of $8.00, a huge discount. Circuit City is liquidating as well, with many of their best products still intact. (FYI: I heard they still have several items in storage, so you may want to wait for their prices to get dangerously low.)
Liquidations are great for getting deals on the best, often latest, merchandise at steals. However, you aren't able to return any of the items, so make sure you are willing to deal with that clause. With electronics, fill out a warranty sheet with the manufacturer instead of the retailer, to make you insured against damages.
That being said, bargain shop away!
I'm glad all of this happened Monday, because Tuesday my attention was 100% focused on this:
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