Comments on: The Money Diaries: The 20-something who doesn’t make enough to cover her shopping habit http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/ Personal finance blog for college students, recent graduates and everyone else -- including entrepreneurship -- for getting rich. Featured in the Wall Street Journal and New York Times. Thu, 18 Mar 2010 05:17:37 -0700 http://wordpress.org/?v=abc hourly 1 By: Misty http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-80406 Misty Fri, 14 Nov 2008 22:49:20 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-80406 My heart goes out to this poster because she reminds me of my older sister. My sister is know filing for bankruptcy because she has lived beyond her means since she graduated college. My parents even bailed her out of the $9,000 credit card debt she accumulated in college. But she still managed to rack it all back up and THEN SOME -at least $30,000 in credit card debt and upside down about $20,000 on a car payment.....on a teacher's salary. Anya I really hope that you are able to learn from this experience and turn your finances around, it will make you feel better when you have that control. My heart goes out to this poster because she reminds me of my older sister. My sister is know filing for bankruptcy because she has lived beyond her means since she graduated college. My parents even bailed her out of the $9,000 credit card debt she accumulated in college. But she still managed to rack it all back up and THEN SOME -at least $30,000 in credit card debt and upside down about $20,000 on a car payment…..on a teacher’s salary. Anya I really hope that you are able to learn from this experience and turn your finances around, it will make you feel better when you have that control.

]]> By: Maureen http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-80099 Maureen Wed, 12 Nov 2008 20:32:59 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-80099 I got an overwhelming sense that this girl just does not have time. I've noticed that over-spending is associated with lack of organisation. If you don't have much time it may be good, as a first step, to sort out a plan of next week. For example, allowing time to prepare lunch for work everyday. It takes 15-20 mins tops depending on whether it's prepared cold or hot. This can save you up to $8 per day. Also it's a shame that you have all this bridal stuff to do because it really can put a crimp on any changes you wish to make to your financial situation. At least you recognise that you can't go on living like this. I really can't believe you're paying so much in rent. If possible it may be worth downgrading for a year or two just so that you have the ability to build up a healthy emergency fund and also a general savings account. This means you won't have to use those credit cards to save you. (It is only short-term help too and then the extra charges and interest fees hit making it awful long-term). I got an overwhelming sense that this girl just does not have time. I’ve noticed that over-spending is associated with lack of organisation. If you don’t have much time it may be good, as a first step, to sort out a plan of next week.

For example, allowing time to prepare lunch for work everyday. It takes 15-20 mins tops depending on whether it’s prepared cold or hot. This can save you up to $8 per day.

Also it’s a shame that you have all this bridal stuff to do because it really can put a crimp on any changes you wish to make to your financial situation. At least you recognise that you can’t go on living like this. I really can’t believe you’re paying so much in rent. If possible it may be worth downgrading for a year or two just so that you have the ability to build up a healthy emergency fund and also a general savings account. This means you won’t have to use those credit cards to save you. (It is only short-term help too and then the extra charges and interest fees hit making it awful long-term).

]]> By: unifiedwebs.com » Blog Archive » How To Control Lifestyle Inflation And Survive The Recession http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-77589 unifiedwebs.com » Blog Archive » How To Control Lifestyle Inflation And Survive The Recession Tue, 21 Oct 2008 19:02:07 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-77589 [...] your cost of living stable, you spend it instead.  While I’m not saying you should never spend your money, keeping your lifestyle inflation under control will benefit you and your finances significantly in [...] [...] your cost of living stable, you spend it instead.  While I’m not saying you should never spend your money, keeping your lifestyle inflation under control will benefit you and your finances significantly in [...]

]]> By: How To Control Lifestyle Inflation And Survive The Recession - Practical advice on personal development, productivity and GTD http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-77497 How To Control Lifestyle Inflation And Survive The Recession - Practical advice on personal development, productivity and GTD Mon, 20 Oct 2008 19:21:17 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-77497 [...] your cost of living stable, you spend it instead.  While I’m not saying you should never spend your money, keeping your lifestyle inflation under control will benefit you and your finances significantly in [...] [...] your cost of living stable, you spend it instead.  While I’m not saying you should never spend your money, keeping your lifestyle inflation under control will benefit you and your finances significantly in [...]

]]> By: The Wallet : Loose Change: 10/14/08 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-77081 The Wallet : Loose Change: 10/14/08 Tue, 14 Oct 2008 13:16:35 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-77081 [...] Personal Finance: -Debt-relief firms don’t provide any relief at all! Blargh. [WSJ] -Are credit cards at a tipping point? There’s more borrowing and less paying. [RedTapeChronicles] -I Will Teach You To Be Rich is doing a regular feature called “The Money Diaries,” inspired by NY Mag’s sex diaries. Great idea! (Wish we’d thought of it!) The second installment deals with someone who doesn’t make enough to cover her spending habit. [IWillTeachYouToBeRich] [...] [...] Personal Finance: -Debt-relief firms don’t provide any relief at all! Blargh. [WSJ] -Are credit cards at a tipping point? There’s more borrowing and less paying. [RedTapeChronicles] -I Will Teach You To Be Rich is doing a regular feature called “The Money Diaries,” inspired by NY Mag’s sex diaries. Great idea! (Wish we’d thought of it!) The second installment deals with someone who doesn’t make enough to cover her spending habit. [IWillTeachYouToBeRich] [...]

]]> By: Journalism 392W: Writing for the Web » Blog Archive » Blog of interest http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-76367 Journalism 392W: Writing for the Web » Blog Archive » Blog of interest Mon, 06 Oct 2008 18:56:27 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-76367 [...] an interesting blog about young people and money by a recent Stanford [...] [...] an interesting blog about young people and money by a recent Stanford [...]

]]> By: Margo http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-76203 Margo Sun, 05 Oct 2008 17:09:25 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-76203 A few thoughts: Nix the cable bill for a few months. A lot of TV shows are online now. I haven't had cable in 2 years and don't miss it too much. Most of the shows on cable just made me want to buy things, anyways, so not seeing the makeover shows and "lifestyle porn" on FoodTV, TLC, etc. has been good for my bank account! I get a periodic cable-fix when I go visit with family & friends. Start a weekly girls' night with 3-4 girlfriends. MIne was "trashy TV Tuesday" - we'd take turns cooking dinner for everyone and pile on the hostess's sofa to watch our shows. It's a great way to catch up, to force yourself to learn to cook, and to have a lot of fun! I learned how easy it is to roast a chicken, which can be bought on sale for just $2.50 and has enough meat for 4 meals plus scraps for making chicken noodle soup. I might not have tried it if I didn't see my friend make them herself! Plus, lots of tasty foods are too much work for just one person, but work well for a group, e.g. tacos, enchiladas, etc. You can do dinner for 4, with a bit of booze, for under $20. That's $5 a week, versus $10-20 every week if you met out at a bar for cocktails. A few thoughts:
Nix the cable bill for a few months. A lot of TV shows are online now. I haven’t had cable in 2 years and don’t miss it too much. Most of the shows on cable just made me want to buy things, anyways, so not seeing the makeover shows and “lifestyle porn” on FoodTV, TLC, etc. has been good for my bank account! I get a periodic cable-fix when I go visit with family & friends.

Start a weekly girls’ night with 3-4 girlfriends. MIne was “trashy TV Tuesday” – we’d take turns cooking dinner for everyone and pile on the hostess’s sofa to watch our shows. It’s a great way to catch up, to force yourself to learn to cook, and to have a lot of fun! I learned how easy it is to roast a chicken, which can be bought on sale for just $2.50 and has enough meat for 4 meals plus scraps for making chicken noodle soup. I might not have tried it if I didn’t see my friend make them herself! Plus, lots of tasty foods are too much work for just one person, but work well for a group, e.g. tacos, enchiladas, etc.

You can do dinner for 4, with a bit of booze, for under $20. That’s $5 a week, versus $10-20 every week if you met out at a bar for cocktails.

]]> By: Weekend Reading: October 4 | Debit versus Credit http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-76200 Weekend Reading: October 4 | Debit versus Credit Sun, 05 Oct 2008 16:17:20 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-76200 [...] Ramit from I Will Teach You To Be Rich has begun an interesting series that he calls The Money Diaries. He’s asking readers to send in diaries of what their financial life is like for an entire week and he posts them anonymously on his blog. This week he’s posted one featuring a young lady who doesn’t make enough to cover her shopping habits. Check Out The Money Diaries. [...] [...] Ramit from I Will Teach You To Be Rich has begun an interesting series that he calls The Money Diaries. He’s asking readers to send in diaries of what their financial life is like for an entire week and he posts them anonymously on his blog. This week he’s posted one featuring a young lady who doesn’t make enough to cover her shopping habits. Check Out The Money Diaries. [...]

]]> By: finance girl http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-2/#comment-75848 finance girl Thu, 02 Oct 2008 19:20:03 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-75848 3 things: 1) She needs new friends. 2) She needs to hunker down and live like a hermit for a month to get ahead of the bills and 3) She needs to learn to not be a financial poser; to have the courage to say 'know what? can't afford it. If you want to come over and go on a walk with me, great. Otherwise I need to stop spending so much $" 3 things: 1) She needs new friends. 2) She needs to hunker down and live like a hermit for a month to get ahead of the bills and 3) She needs to learn to not be a financial poser; to have the courage to say ‘know what? can’t afford it. If you want to come over and go on a walk with me, great. Otherwise I need to stop spending so much $”

]]> By: Juicefairy http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit/comment-page-1/#comment-75844 Juicefairy Thu, 02 Oct 2008 17:46:07 +0000 http://www.iwillteachyoutoberich.com/blog/the-money-diaries-the-20-something-who-doesnt-make-enough-to-cover-her-shopping-habit#comment-75844 Wow. These are great! I agree they are a little depressing but I found myself reading them and being proud of myself for getting out of a similar rut. I guess that is a little selfish, but I think someday they she will read this and be proud of themselves too. Wow. These are great! I agree they are a little depressing but I found myself reading them and being proud of myself for getting out of a similar rut. I guess that is a little selfish, but I think someday they she will read this and be proud of themselves too.

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