Another First Day

Monday I started my first “grown-up job.” Working for an HR company means that these people are really up on their new-hire game. I got about four emails with information about the first day. My friends and family are not too surprised that my favorite part of the whole thing was when they noted that attire is business casual. Finally my heels, blazers, dress pants, and blouses will be put to good use. My Facebook Memories reminded me of a quote from my mother about this time this year. She said, “Maggie, you’re too stylish to be unemployed.” Not only do I get to dress up, but it’s highly encouraged.

Coming from retail and summer jobs this position is definitely an upgrade. Probably the most normal part of the job is that which I am most appreciative. I can go to the bathroom whenever I want! (Not completely whenever, but obviously within reason.) I worked at a farm stand for a summer and it seemed like as soon as I would go to the nearest gas station someone would walk up to the stand. Same thing goes for working at a cosmetics counter. As soon as you make a bee-line for the restroom the customers all swarm. It’s like they all see it as an opportunity to shop without you there. 

I even have a real title now! I’m an Interview Specialist. Of course everyone inflates their title a little, but that is the legitimate one. No inflating with you guys. I’m excited to update my LinkedIn and get to networking in the real world. 

Also, I can actually go to events and mill around with other millennials. At lunch today I sat and ate my mac and cheese between conversations about Clueless and destination weddings. 

I’ve heard multiple times that millennials feel entitled and are difficult to work with. That we don’t know what hard work is. I will surely say that I know many many millennials who are not that stereotype at all. Multiple people I went to college alongside worked their butts off to try and get a job after college. Some took more internships and some went on to graduate school, but all of us are just trying to get ahead enough so we can pay off those student loans. 

So Gen-X, just give us a chance. We really are just excited to be here. 

Free is My Favorite Price

I go over to my Granny’s house and every time I walk up the front steps she asks me to “check the mailbox.” Every. Darn. Time. We will be running late for church, a move, dinner, a cubs game, and she will ask us to check the mail. Most of the time all that comes are junk mail and bills. Per her habit, I usually walk in my house and see what the mail was that day. To my surprise, I actually had something exciting yesterday!

My hobby is going to concerts. I will see anyone play anywhere. I’ll see big time pop stars at arenas and I’ll see local bands at dive bars. I love it all. Because of my avid enthusiasm for live music, one of my favorite venues, The Rave, sent me four free tickets to three different concerts. How cool is that?

I always recommend this smaller venue to people. A small intimate venue is a great way to see an up-and-coming band/artist or even a well known group. Plus, this venue even does Buy One Get One Free promotions for less popular shows.

I’m sure this promotion is geared toward retaining loyal ticket buyers and these shows probably didn’t sell a lot of tickets, but I’m stoked to even be considered. If they took some of my suggestions for future entertainers I’d be there every weekend.

Where is somewhere that has great customer service? Who gives you the most perks for your patronage?

Tell me About Yourself

Today I found out that my blog has been viewed over 600 times. How crazy is that? I’m so very thankful and excited to know that people are finding this and maybe getting something out of it. I also re-read my first post.Ever have to answer the “Tell me about yourself.” interview question? It’s absolutely terrible. I know very few people who actually excel at talking only about themselves. I think you guys deserve to know a little more about me.

I want you all to know more about my actual life. Why I’m here, what I’m doing, and who is influencing me. I’m here, because I believed the “American Dream” of getting a college education and a good job would follow. I love my parents dearly, but they are teachers who had/have their own debt still from college and didn’t have a penny saved to help me out. They did offer to help me get Parent PLUS loans, which is more than I know some parents would do. I also chose to major in something not quite as stable as nursing or accounting. I chose English. Mostly because that’s what I’m good at, and secondly because I’d been convinced not to become a teacher too.

I’m trying to find my way without completely having the infamous quarter life crisis. That means being ok with living with my family for right now. Without them, I wouldn’t be able to even make the minimum payments on my loans. I’m so very thankful to have their support while I find my place. I’ll be starting a position soon at a global HRO company. It’s not a flashy job description, but it’s a start.

You’ve probably already noticed it, but my family is everything to me. In high school I wrote a whole monthly newspaper column about our crazy adventures. Oddly enough it was called “I Need a Bailout Too” and had money clip art in the header. My little sister just went off to a nearby college and my Granny lives next door. I’m the kind of person that enjoys going out with my mom and her friends to the movies.

I have a pretty great boyfriend who actually enjoys talking about financial things with me. I know he’s one of my viewers and editors. Ever start something because of someone else and find that you actually enjoy it on your own? No matter what, thanks.

If I had more time (or maybe used it more wisely) I’d be baking and biking every day. My butter cream is my secret weapon and my new retro bike needs many more miles on it before winter.

I hope you readers have gotten to the end of this without being too bored. Now I want to know about you. Where are you at in your journey? Who supports you? Any advice from those already through this stage in their lives?

Living in the Middle

Before coming to grips with my crushing debt, I would have multiple savings accounts going for the multiple life goals ahead of me - a new car, paying off my granny’s mortgage, and (hopefully my eventual) wedding. All of these are pretty pricey and important parts of any 20 something’s life.

Say I save the extra $100 I’m projected to have every month via my new and not improved income. If I saved that $100 between those three goals I’d be putting $33.33 towards each one. Say my DREAM car is about $20,000 and I stick with the $33 each month. It would take me 606 months or 50 years to save enough. (I’m not calculating interest yet...That would help, but not enough.)

Instead, let’s also say I get rid of all of my debt. (WOOOHOOOO it’s 2025!) Assuming I am still at my current pay, I would have about $936 to put towards my savings goals each month. If I would focus on only my new car goal, I would be able to pay for that car in 21 months or less than two years.

Yes, my math is pretty hypothetical. Yes, it doesn’t factor interest, but what it does show is the importance of focus.  If I focus now on reducing my debt with any extra cash I have, then I will be able to pay for what I want later.

“If you will live like no one else, later you can live like no one else.” - Dave Ramsey 

How much money could you have every month if you didn’t have to pay off debt?

September Net Worth

This month I am at -64,753.87 Net Worth, which is +717.55 from last month.

 

Wins

• + 2293.19 change in debt - That’s including minimums plus paying off that first student loan.
• Was reimbursed for a business related trip, which helped offset gas and paid for other necessities.  

Struggles

• Splurged a bit at the beginning of the month.
• Had to pay off credit card statement from last month.  

I know that next month will not be quite as much of a move in the positive direction as I would like. Taking this new position will force me to put less funds toward debt each month, but there is always a time of change between paydays when switching. Right now, any move in a positive direction deserves to be noted.

How are you making baby steps towards a positive Net Worth?

 

New Opportunities

After months of interviewing, resume sending, and LinkedIn scouting and I've finally landed an entry level job after college. This is living the (current) dream. 

How much did it really cost me to get a new job? Well, the interview suit(s) ran about $200, but they were a Christmas gift I got before leaving college. Definitely a motivator to stay the same size. The KateSpade black interview purse was a splurge before a big interview last summer. I got it at an outlet and used my granny's senior discount, so it was a smart investment. The black heels - Payless all day. I lucked out by having business in the same area, so it was reimbursed mostly. The networking that got me an "in" was approximately the cost of coffee a few years ago and being nice to someone in high school and college. 

I'm excited to start this new job. It's a position that isn't the greatest, but it's a way into an awesome company and career. Since said position isn't past entry level, I had to do a little negotiating for the hourly wage in order to make my budget work. That definitely is a positive to keeping a budget and knowing what you spend on average every month. It isn't close by, so my gas budget will be going up by a ton. 

Sometimes the gain isn't so much in the income category and more in the happiness category. That's my hope. I start at the end of the month, so I'm getting ready to be a bit messed up paycheck wise. Let's see how this all works out. 

Forget That it's Payday.

Last payday I treated my mom to apps and drinks. Kinda went over budget just because of that "payday" mentality.

 

 

If we blow funds on Friday every two weeks then where does that leave money for the other 28 days? I'm not saying I regret splurging on my mom for once, but this whole weekend I had a "payday" mentality. I HAD to reign myself in. What finally gave me a reality check was an email that said I'm already over $3 in one of my budget categories. It's the 7th people.

 

The only good thing about having bills is that at the beginning of the month is that my money has already been spent. Most people probably dislike early bills, but if I'm going to have to pay them anyway, at least I won't have many opportunities to blow my paychecks before hand.

Everyone budgets differently. I’m very “monthly” based in my calculations and payments. To curb my “payday” spending I may try out a bi-weekly savings plan. Since I have bills on the 2nd and the 9th, I typically calculate what I need to keep in my account to cover those payments. I want to make sure I can cover those before I transfer to savings. The thing is, I’ll be spending extra money I Just Got Paid during the middle of the month.

 

Right now, I could transfer about $450 to savings and be completely covered for the rest of the month. Debt reduction is my ultimate goal and I need to keep that in perspective. This month, I’m adding a $200 payment towards all of my PLUS loans and putting $200 in savings for an entire loan payoff. I can’t spend money if I don’t have it.

What do you find yourself splurging on after payday? How do you keep yourself away from your money?

**Feel free to leave a comment so we can support and learn from one another. It’s my favorite part of the financial blogging community.**

Don't Follow the Crowd into Debt

If I'm shopping alone, I can usually talk myself out of buying something. It seems that I tend to overspend when I'm with other people. I'm a social spender if that's a category. I only overspend when I go out for drinks or dinner with other people.

I still want to hangout with my friends and  spend time with my family, but I need to stay on budget. Some of the most fun activities are ones that cost the least. Here are a few of my favorite ways to save:

- Use local travel guides to help find cheap or free activities. Even if you're staying close to home they offer events you may not have considered. Festivals, music in the park nights, and art exhibits are often free in most communities.

- Happy Hour is a social butterfly's savior. Research local double bubbles or half priced apps. Split with a friend and the deals get even cheaper.

- It's a crazy idea, but consider eating before going out for the day/night. If you've already filled up at home, then you'll be less tempted to buy something unnecessary. 

- Check out historical landmarks. We all know the big ones like Niagra Falls and the Hoover Dam will cost you an arm and leg to see, but finding the historical marker for the first typewriter  in Milwaukee is completely free.

- Take local transportation or bike if you can. Some cities have better transportation systems than others, but if there’s a reliable bus or train, consider taking that instead of paying for the price of gas and parking. Also, there is typically a monthly or yearly pass that will save you money in the long run.

Lastly, Stay In. It’s so simple, but really ask your group if they would rather get dressed up, go out, and spend money, or watch Netflix, eat pizza, and actually catch up. I have a feeling the latter will be more popular than you may think.

Cash in Hand

Maybe I’ve mentioned it before, but I work retail every day of the week. I sold a customer a cup of coffee for $.75 and she paid for it with change from the bottom of her purse. How many times have you scrounged around the change jar or cupholders of the car to buy a “necessity” or and impulse? 

Whenever I talk to people about handling cash, they typically say that if they have cash, they are less likely to spend it. I am exactly the opposite way. If I have $20 in my pocket, I know I can spend that entire thing. Most people just swipe and don’t even think about it. Having cash shows them exactly how much they can spend and for me, that is a terrible idea.

 I believe I may be the one person who spends more frivolously when I have cash in hand. If I have one dollar in the bottom of my purse at work, I will spend it on a candy bar from the vending machine. If I take $20 with me at the bar, I will surely come home with zero. 

If I’m at a store I’ll take multiple reasoning steps before even swiping my debit card. 

Do I really need this? Do I have enough money in my account to cover it? Will they get mad at me for using a card on a purchase under $10? Are those funds already allocated for something else?

Maybe it would be different if I used my credit card more often, but even then I still know I’ll have to pay it off when the statement comes. 

If I have cash in my pocket/purse/car, I will try and get as much as I can for that amount of money. I’ll use coupons and find discounts, but I don’t actually rationalize if I really need something. 

Having cash at the end of last month really put me in the red. With Mint not understanding about my extra loan payment, I kind of lost track of things this month, which lead me to spending that cash a bit frivolously

My favorite part about budgeting is that on the first everything gets set back to zero. I’ll start over and have another month to get things on the right track. August didn’t set much behind, but every transaction is an opportunity to save.