In Case Your Weekend Wasn't Awesome Enough

Introducing... J.Crew Weekend.

Source: jcrew.com via Grace on Pinterest

I'm pretty sure if J.Crew can make wearing sweatpants and a blazer a thing, they can make anything possible. Maybe Jenna Lyons should run for president.

I'm sorry this is a short post today, it's been one of those weeks. Just exhausted basically. I loved all the feedback from my Monday post though. Sometimes you know what you should do, but you just need to hear it from others before you do it. You know?

I've basically decided to add an extra 50/month to the wedding savings and the rest will go into a savings account that I can use to either make extra payments on my car or on my student loans. I feel better already knowing my money is spent for the month. No more impulse purchases. For now. Ever. For awhile.

I hope you are all having a good week!

And remember...

Source: google.com via Keisha on Pinterest

Personal Finance Fail

Source: bayarearidersforum.com via Pao on Pinterest

Full disclosure: My wallet has been like a leaky faucet the last couple weeks. It all started with the pivotal decision to splurge on $8 nailpolish at Penn Station and it's been downhill ever since. There hasn't been any major flooding, just small insignificant purchases that make you go "WTF" at the end of the month when the credit card statement comes. Or in my case, "WTF" in the middle of the month when I checked my balance. I hate to admit it but I've been totally reckless. As much as I love the sequin tank top ($16), new gym bag ($29), and the anti-wrinkle cream ($11)-- I didn't need any of them.

On what I thought was an unrelated note I have been struggling with what to do with with an extra $140 I have in my budget from no longer having a credit card payment. To explain, let me go back a few steps. My monthly credit card payment was $500 which means, since February I've had $500/month "extra". My first plan was to put a chunk of that into savings and the rest towards my car payment, to pay it off early. Then,  SSF proposed, and I had a wedding to save for- among other things. From there, the $500 turned into this:

$77/month-Car insurance (so I have it when my premium comes due)
$33/month- City Taxes (we get the equivalent of a city tax bill each year, so I wanted to save half)
$100/month- Wedding
$150/month- Emergency Savings

Total: $360/month.

So I've been trying to decide between two options:
1. Add the remaining $140 to my wedding savings of $100/month.
2. Start making payments on my student loans and/or make extra payments on my car.

Now what does this have to do with the leaky spending? Well I'm pretty sure had I already decided where the $140 should go, I wouldn't be spending so freely right now.

So help plug the leak. What do you think I should do? Save for the wedding or pay off debt?

Are You a UAW?

As in an Under Accumulator of Wealth.

The term UAW comes from the book "The Millionaire Next Door".  In the most technical sense, a UAW is someone who's net worth is 50% less than their age multiplied by their pretax earnings and then divided by 10.



For example, a 26-year-old making 40,000 would have a target net worth of $104,000. If their net worth was below $52,000 that would make them an "Under Accumulator of Wealth". If that same person had a net worth between $52,000 and $208,000 they would be considered an Average Accumulator of Wealth (AAW). While a net worth over $204,000 would make you a saving maniac, or as the book calls it "Prodigious".

All formulas and calculations aside, what is a UAW really? Someone who is high consumption. I would say prior to 2007, I was incredibly high consumption. I would turn over my closet at breakneck speeds. I was often spending money before I even earned it. However, I was nothing compared to what SSF and I witnessed the other night on "My First Sale" (HGTV). The family featured was selling their home because they didn't have "enough room". Let me clarify, the 3 person family in the 3 bedroom home that had a playroom for their only son was running out of room because the father was a race car junky that had a car and garage containing $70,000 worth of a car and parts and the mom's self-proclaimed hobby was "shopping".

Now, I don't like to judge (on my blog) but we watched in horror as the couple pondered selling off the husband's "racecar" to cover the loss that were going to sustain to get out of there home when there was no REAL reason for them to sell at all (well, besides being able to consume more). I'm also going to assume they lacked any kind of emergency fund or savings.

That is a UAW.

But UAW shouldn't be a dirty word, it should be a signal that it's time for a change. SSF and I are UAW's (SSF kind of lacked a choice in that matter) but we are doing what we can to change that. We are paying off liabilities and setting aggressive savings plans.

So, are you an UAW? What are you doing to change that?




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True That, Double True

tank: target, cardigan and jeans: old navy, shoes: can't recall, necklace: martin and osa

How was your weekend? Mine was too short and I spent more time then I prefer driving through Delaware. I hate Deleware. Delaware thinks its soo great because it was the first state and there is no sales tax but the only reason they get away with that is because they charge you $4 dollars to both enter and exit the state. Who does Delaware think it is any way? I mean as if the price of gas wasn't already a kick in the pants on a trip to Philly. Ok, sorry that was a little rant I had all built up from Sunday. I'm done now.

This outfit is from Saturday though. I don't know if I told you this before but when I like a look, I tend to repeat it a few times just to really hammer home how much I like it. Case in point: black on black. Last week it was a black shirt and cardigan combo, this week jeans and a tank. What can I say? I'm a creature of habit. How else would you explain the fact that I basically live in denim. Maybe I should buy a pair of pajama jeans and wear them to bed.

Speaking of jeans, if you are looking for new ones (like I am constantly) check out Old Navy's clearance section. They have tons on sale for like $11 or $12. That's where I got the ones above and the ones from last week.

Dirrty

shirt-target; jeans & scarf-old navy, boots-rocket dog via DSW, sweater-j.crew outlet

Holy crap it's Thursday. I didn't even know life could move so fast! It's already been a whole week since my visit to New York! I miss it. But truthfully, I could never live in that city. First of all it's too big and second of all I don't own a long black puffer coat (I swear I've never seen so many, I think it's a requirment). I did enjoy how walkable it was though. I didn't even miss my normal workout even a little bit.

Speaking of New York City, I decided to take a page from the NYC style book and wear black on top of black. I kind of dig the look. I feel kind of chic, but like dirty rocker chic. Is that a thing? If it's not I totally call dibs.

Are you excited for the weekend? I am, I am still exhausted from my "spring break".

Wedding Updates

Source: nickandnoragettingmarried.wordpress.com via Robin on Pinterest

First off, let me just say thank you for all the love on my last post. I wish I could have said thank you to each and every one one of you individually. It was seriously unreal to be putting on wedding dresses. Up until Thursday getting married was just a thing that was happening a long time from now. I hadn't even given much thought to it and then BAM, I'm standing in front of a Kleinfelds mirror in an amazing wedding dress. Totally surreal.

With that said, there were also some great questions raised that I wanted to answer.

Yes, I did find a dress that I am totally head over heels in love with. It wasn't pictured in the last post because you have to be very sneaky when snapping photos at Kleinfeld's and we just didn't have the opportunity to with that dress. I also don't want to dwell on it because the reality is that is costs $3200. I didn't exactly intend on spending that much money on a dress however it did make my best friend cry if that gives you any indication on how spectacular it is. Luckily, I have plenty of time to come to one of two conclusions.

a. find similiarly amazing dress
or
b. somehow raise $3200 for the one I tried on. (car wash anyone?)

As far as my budget is concerned there isn't really one yet. SSF and I decided that we are comfortable spending around $12,000 for the wedding (which includes the few items my parents have offered to pay for). The only problem is that since we are having it out of state we don't really know what to expect things to cost. So $12,000 is entirely unfounded. We are heading down to the Outerbanks in April and meeting with a few planners to understanding the wedding scene a little better.

I'm crazy excited for the trip but until then I am basically in a holding pattern as far as wedding planning goes.

New York In Pictures

Yesterday my best friend and I took a day trip up to NYC to try on my first wedding dresses at the J.Crew Bridal Boutique and Kleinfelds. We laughed, Jennifer cried, and we walked, and took tons of pictures when we could. It was a great day. The best of all though.. outside of my train ticket I only spent $30 on food and a random bottle of Essie nailpolish. Yeah, that's right. I went to New York and bought nailpolish. Impulse buys happen when you early for you departing train and are loitering around a drugstore.

(some of these pictures were taken with a cellphone so picture quality will vary)





























Have a good weekend!

Bloggers & Budgets: Ashe, Dramatis Personae

 

While I'm off in NYC trying on some wedding dresses (eeeee!), check out this weeks edition of Bloggers & Budgets Featuring Ashe from Dramatis Personae. I first stumbled across Ashe's blog when this post was on IFB's Links Ala Mode. Naturally I instantly fell in love with her honesty about debt and of course her amazing eye for fashion and have been reading her blog ever since.

Ashe, 27 (though I think I'm 28), New Orleans, LA. I work full-time at a local university in theatre & dance, blog full-time at Dramatis Personae (and weekly at Independent Fashion Bloggers). My boyfriend of 6 years and I recently moved back in together, and we live with our precocious cat, Lottie.

The Questions

1. How would you describe your approach to personal finance: hands-on or hands-off?
I strive to live within my means, moreso now than ever. I check my banking almost daily, and since I'm paid monthly, that means I do HAVE to be incredibly hands on--otherwise I'll be out of money by the time the month is over!
2. How do you balance your finances with style blogging? (Buy everything on sale, remix, budgets?)
I had once read in In Style magazine, a quote that essentially said, "If you won't pay full price for it, you don't love it enough to buy it." To some degree, I really believe that. I believe in building a wardrobe with pieces that you love enough you'll save for, pay top dollar for, and love forever. But on the other hand, I really believe in patience, fate, and seeking out a sale or discount. Recently I fell in love with a Marc Jacobs bag-- it's hard to find, over $400, and sells out quickly. So I bought it--out of my bank account (not plastic!). But not before finding a 15% off discount. That basically covered the cost of tax, but it also saved me $60.
Having my partner move in with me has helped me balance my love of fashion with my financial goals. It helps having someone to keep me accountable and encourage me.

3. What do you want to accomplish [financially] in the next five years?
I'd like to have no credit card debt, and to only use them for travel, monthly bills (to be paid off each month), and emergencies. I'd like to purchase a car this year, and the Beau and I would like to save up a down payment so we can buy a home. We're working to jointly create a 6 month emergency savings account, and I know paying of his students loans is a priority for him.
4. Do you have any financial regrets? (something you wish you had done sooner, hadn't done at all?)
I wish I had just stopped myself. After Hurricane Katrina, shopping became an emotional escape and coping mechanism for me. Prior to Katrina I never had more than $1000 in debt. Now I have significantly more. I wish I had cared more and realized what I was doing.

5. Share with us your best/favorite tip for saving/spending/paying off debt.
Google search for the lowest price and coupon codes! Almost everyone online is having some kind of discount at any time--whether it's so little as free shipping or 10% off. Some people buy things the first place they find them-- I try to search out every possible location, gauge shipping vs. cost, and get the best deal I can.

I've Created a Monster

I made the mistake of putting this book into the hands of SSF. He is now on a tangent of cutting all unnecessary expenses. He has single-handedly axed the movie channels, possibly fast food, and my texting plan. Ok, so maybe I axed the texting plan on my own free will. But trust me you would too if you realized you were spending close to $1000/year on a cellphone.

Anywho, with all of that going on this week in addition to my best friend who is flying in from Michigan tonight I haven't had much time for blogging in all its forms.  Luckily, Harvard Busines Review knew I was going to be busy this week and took the time to write up this blog post that I could pretend is my own share with you.

Nine Things Successful People Do Differently


Rounding out the top 3...
-Get Specific
-Sieze the moment to act on your goals
-Know exactly how far you have left to go.

(Also great tips for paying off debt)
Now, why don't you head over there and read the rest... nothing left to see here.

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You Tell Me

top: target, skirt: goodwill, tights: gap, shoes: ninewest via piperlime
total cost of outfit: $66.

Normally I would post photos from the outfit I wore over the weekend. Instead I have for your viewing pleasure an outfit I wore last week for work. I would have had an outfit from this weekend if Michigan State's basketball team hadn't decided to blow a totally winnable game against Michigan causing the decline of a certain someones mood (SSF). Kalin Lucas, Draymond Green if you are reading, Seriously get it together. You are really putting a damper on my blog.

I have a confession. I love this gray tank from Target so much I went out this weekend and bought it in black. It's that awesome. I have another confession, SSF and I have eaten at the same restaurant the last two Saturdays. Ok one more, we keep eating there because it's our favorite (it really it) and we were able to buy gift certificates for $30 at $15. 

I can't decide, is that lame or awesome?

Obsession of the Week: Gym Bags

My love for the gym has been rekindled as of late. I've been cramming in a workout whenever I have the chance. Since my gym and my office are in the same building most days I am lugging an extra bag with gym clothes or work clothes along with me. Hmmm, sounds like what I need is a new gym bag. (and maybe that Michigan State sports bra from Victoria's Secret Pink).

I'm so glad that fashion has finally found its way into the gym. How freaking cute and spacious are these bags? The Under Armour one even comes with a lined pocket safe for you hot straightner or curling iron. I may not have the funds to upgrade my gym clothes, but at least I'll have something cute to stash my smelly clothes in.
also pictured: Stella McCartney for Adidas

Grace Gets It Together: The Working To-Do List

As I mentioned last week I've been going through a self-improvement phase. Truthfully, I go through a lot of these. I am like a manic-depressive type A personality. Some days I am full-on need to be organized, clean, and perfectly put together while other days I let the cards fall where they may and will and do. The degree to which I procrastinate often determines which phase I am in. It's exhausting living like that. You can commiserate right? Which is why I'm trying to kick to the procrastination habit and I'm bringing you along for the ride. It's just what you've always wanted I'm sure.

First things first, my to-do list. I always thought a to-do list was the key to getting things done. I've am the queen of to-do lists, post-it notes, and all things that involved writing stuff down on paper. But honestly, that's all it really ever amounted to: words on paper. My to-do list never seemed to get shorter and it never really helped me complete my tasks. It was more like a nagging reminder of all the crap I needed to do. Inspired by Stephen Covey's book "The 7 Habits of Highly Effective People" (Good book) I decided to turn my to-do list into a game plan.

More specifically I focused on the 3rd habit, "first things first". The focus of this habit was the importance of assigning a value and time for tasks. I started small and implemented some changes to how I prioritize and schedule my tasks at work but I am hoping to expand it to my personal and financial life as well.

Here is an example of what my work to-do list used to look like:

It's a mess, many things to do with no concept of time, and maybe a few doodles.

Now it looks like this:

• On the right page(top)I make my to-do list. I try to set up as much as I can on Friday and then add to it as the week goes on.

• Then on the left (bottom) I make column for each day of the week. Within the columns I write key dates, deadlines, or events that will take time away from completing tasks.

• Once that is complete, I fill in 3-4 items from my to-do list for each day of the week. I've found that depending on the depth and time required to complete a project I can usually accomplish 3-4 per day. This could be different for you.

• As the week goes on I have the ability to cross things off when I am done, move them to different days if another task takes priority,


Here is an example from a full week:

So what do you think of my working to-do list? I've been using it for about a month and it's helped me tremendously with staying on top of my work. I've also noticed that seeing what I've accomplished each day helps me stay motivated.
So what are your tricks for staying on top of your to-do's?