Tag Archives: don’t borrow trouble

Put It On My Tab

It took me far longer than it should have to start making sound financial decisions.

Although, it seems to be taking everyone far longer than it should to get their money right.

So, I put together a list of the top ten money lessons I learned the hard way.

Maybe some of you can benefit from my not so savvy experience.

1. Make a monthly budget and STICK TO IT.

monthly-budget

Also make sure to include ALL expenses in your budget.

If you go out on Friday nights and regularly drop a hundo at the bar, don’t fool yourself into thinking you won’t.

There is no judgement in finance, just numbers.

No matter what it is, put it in the budget.

Like blowing coke off a hooker’s ass? No judgement! Just put it in the budget!!

2. Save 20% of your income. At least. I know it seems like a lot but when that rainy day comes and you’re in a jam you’ll be happy you did.

3. Never, ever, ever take money out of your 401k. This also applies for when you leave one job for another. ROLL THAT SHIT OVER!! Taxes and penalties aside, for those of you how don’t know how compounding interest works take a look at this:compound_interestBasically your interest is earning interest. You earn $50 from year 0 – 1. But in year 1-2, now that your total is $150, you earn $75 for the year, giving you $225. In year 2-3 you have $225, so you earn $112.50. In 3 years you more than double your return. Think about what that would look like over 20 years!

That’s a shit-ton of money to lose out on for something you could probably don’t need. No one wants to HAVE to work when they’re 80. Start saving now.

3. Always, always, always, always, always, always, pay off your credit card at the end of each month. If it helps, consider it cash, whenever you use your card, enter the amount into your checkbook just like you would a debit card transaction.

4. Do NOT live beyond your means. If you haven’t earned it, don’t spend it. Ever hear the saying “Don’t borrow trouble”?? They’re talking about money!

trouble

5. For most of us, students loans are unfortunately a necessary evil and the devil writes in very small print. Make sure you know exactly what you’re taking and how much that payment will be when the piper comes a-calling.

Forbearance sounds like an awesome idea. Indefinitely defer paying my student loans?? Why not?

Just an FYI – any unpaid interest during your forbearance time period will be added to your principal. Meaning you can go from having $20,000 in student loans to $25,000 over night. And at 8% interest that makes one huge difference come pay day.

6. Having a second job will help pay for those student loans, keep you out of trouble and stop you from spending money. Think about it.

7. There is a difference between a “want” and a “need”. You need groceries. You want the new iPhone.

iphone

8. There is absolutely nothing wrong with buying generic. Paying $10 more for a bottle of lotion just because it says Aveeno on it is stupid. Don’t be stupid.

9. Being industrious can save you serious scratch. Paint your own nails, change your own oil, wash your car at home, cook meals instead of eating out, I just wouldn’t recommend cutting your own hair…

10. Always have a little “mad” money tucked away. Some days you just want to say “fuck it” and buy the new iPhone, if you have mad money set aside, you can. Second jobs are a great source of mad money.

Or if you really, really want it – PUT IT IN THE BUDGET!

What about you guys?

What are the best financial lessons you’ve learned?

How many times did it take you to learn them??

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Filed under Dollars + Sense

Wicked Hard and Extremely Fragile

I’m not a trusting person.

Call me paranoid but I don’t take anyone’s word for it.

It’s especially hard, after someone you want to trust, has broken that bond.

How are you supposed to take that leap again?

take a leap of faith

There is no magic pill to take to guarantee a clean slate.

Old fears creep in and the most innocent of exchanges can feel like a plot against your happiness.

How can you truly trust if you haven’t figured out how to forgive?

forgiveness mark twain quoteAnd I’m not just talking about forgiving others.

I don’t know about you, but when my trust is broken, the person I blame the most is myself.

I should have known better!

not good enough

How could I have been so stupid??

Why couldn’t I tell he/she was lying?

Trust is such a vulnerable bond.

Even when you have the courage to open your heart and trust.

courage does not always roar

There are so many obstacles, so many worries that can gnaw on your mind.

The fears and anxieties pick with vicious tenacity at your fragile trust until it has been shredded. Completely destroyed, only the fears and anxieties remaining.

fear

Stop the fear!

The fears and anxieties cannot win if you fill your heart and mind with love.

As part of my Happiness Project I am making a conscious effort to be more trusting. To chose love over fear.

(For those of you who missed those posts – shame on you! Just kidding 🙂 You can check them out here and here.)

This is especially hard for me.

I have an overwhelming need to always be prepared (thank you Girl Scouts) and what may be the world’s most over-active imagination.

When these super powers combine they make me:

The Queen of the Worst.Case.Scenario.

You might be thinking, ‘well that doesn’t sound too bad.’

The problem lies in the thoughts.

all that we are budda quote

If our reality is a manifestation of our thoughts, then being worried, anxious, and distrusting will just bring you more of the same.

And who wants that??

What about you guys?

Do you trust easily?

Or is trusting someone the hardest.thing.ever for you??

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Filed under dating, family, following your dreams, friendship, growing up, Happiness Project, inspiration, looking for love