Here’s the Thing

I have this friend, we’ll call her Annie, who has been very discouraged about looking for a job. She’s not out of work or anything, but she’s young—early 20s—and has only found a part-time job in her field. [That job happens to be at my office; she works for me.] Anyway, to compensate for her part-time gig with me, she also works another job, unrelated, mostly nights. Between the two, she does OK, but she, as you can imagine, wants to find something full-time, in her field, and it’s tough right now.

So a few months ago, I did something I don’t think you should ever do: I gave her the link to my online portfolio.

You may remember my mentioning this portfolio before. It was my good friend while job-hunting because I could track what employers had looked at it, which was a lot better than waiting for the phone to ring. Some of you have e-mailed me before to ask if you could see that portfolio, and I’ve always told you that, no, sorry, I would love to, but it’s too risky because I don’t want people copying it. You’ve all been very nice about that and understood.

Annie thanked me and never said a word about it again, but I found her own portfolio, by guessing at the URL, which was similar to mine and also, because I knew she’d spent a lot of time looking at mine (Sitemeter = awesome) and was curious what she’d done with that looking. She copied it. Full-on, exact-same-thing copied it. She took my paragraphs and changed the info to match hers, she chose the same layout and design, she did everything possible to make it mine, but hers.

I was frustrated, but I felt bad for her. I mean, I’m not actively looking for a job right now—hadn’t even updated the site for Pete’s sake—and maybe she was just unsure of how to make one, so she copied mine. I waited two months, after my Sitemeter showed she hadn’t gone on for a while, and I redid mine. Changed the layout, changed the descriptions, etc.

This week, I discovered she copied it again.

This, surprise!, is the very reason you don’t give your friend your resume when he or she wants to know how to make one. This is why you don’t give out your portfolio URL. This is why I am now deleting mine and starting over, with a site she won’t be able to guess. Please, take a lesson from me, and don’t make this same mistake, OK?

*BTW in case you’re wondering if I’m going to confront her about it, no. I thought long and hard and, honestly, I know her well enough to know she’ll apologize and feel bad, but I will have already moved mine, so what would it matter? It’s really more my fault than hers, because I made it so easy. Lesson learned!

Reflecting Back

I’m a few days late, of course, but it’s time for a yearly review of my financial state and a setting of goals for the year to come. It’s what we do every year, yes? In my personal life, I have grand plans to cook more, workout more, make more time for people. Those goals seem vague, I know, but they aren’t so much resolutions as directions I am pushing my life. They are things I’m working towards always, not just as the calendar changes.

In my financial life, there are also some general goals, probably not unlike yours: spend wisely, save/invest as much as I can, take the right steps career-wise. But yearly, because money is such a, well, tangible thing, I set specific goals, too. For 2008 (I was much, much later then), I set four specific goals:

1. Max out my Roth IRA (done!)

2. Save $1K for a Cali vacation (done!)

3. Finish an $8K emergency fund (done!) and

4. Put $5K into a downpayment fund.

That last goal was never reached, but I’m OK with that. I’ll get there, and it’s not an emergency. Over all, I’m pretty happy with what did get done, and, I suppose, without setting those goals, I wouldn’t have gotten myself to work towards them.

So that was the year overall. As far as for December, I’m happy to report I was under-budget in every category but giving, but, come on, it was the holidays. I may revisit my categories and move things around a little in February, but I’ll wait and see how this month goes. Also, I was thinking I could take gift purchases out of other budget categories, if I wanted. I mean, it is MY budget after all, right?

(P.S.: My 2009 Goals will be posted, in page form, today. Look for the link at the top righthand corner of the site.)

A Christmas Surprise (Again)

You guys are great. Really. This has been an interesting Monday, and you’ve helped me learn some things.

First of all, I learned doubling $25 in 10 years is actually a fairly good deal. Even with compound interest on my side, putting $25 in an ING for the same amount of time would give me much less. I really wish I were better at math.

Second, and here’s the BIG BUMMER: the bonds have turned out to be 30-year bonds, and they’re not from my aunt, but from a credit card company that awarded them to my mom (!!). This, folks, is why you should always know what’s going on with your money, so you don’t get your kids’ hopes all up.

And, actually, since the bonds seem to be accruing at 2.6% per year, which is better than an ING, where I would have probably sent the money, this is in a way good. I mean, neither of us would have used the money right away, and at least I know the money is doing well for itself.

I hope your days are just as eventful. In a good way.

A Christmas Surprise

Over lunch this afternoon, while my family buttered rolls and sipped hot soup, my mom casually mentioned a set of savings bonds an aunt had given my brother and me in the ’90s. Each would be $50 by now, she said, but we’d have to take them in to the bank.

After we commented on the ludicrous investment of doubling $25 over the span of a 10-year wait (!), especially when a mere 2% savings account over that same time period would be so much greater, not to mention the stock market or something with a higher return, Mom said she hoped they’d be matured by now, and she estimated there were 10.

In truth, it seems there are actually 20, meaning $1000 total and $500 for each of us.

So, assuming this all works out, I have $500 coming to me. Just like that!

Christmas Reflections 2008

Besides the snow, Christmastime is a beautiful season, don’t you think? We frugal types can tend to focus on all the spending we’ll need to do—my brother’s coworker has racked up a $700+ bill so far—and ways to cut costs, ways to be smarter about giving, while also still, you know, giving.

For me, this year has been different.

For one thing, I haven’t purchased one single gift in the shopping malls. Haven’t even gone to them, in fact. Every gift was homemade or purchased online—I highly recommend this strategy, if at all possible, particularly if you live somewhere like Chicago where every other day brings a new blizzard to avoid at all costs.

More than that, though, I know there’s a very good chance I will be laid off. (Strange, right? How would this put me more in the Christmas spirit?) All I can say is that I found this reading schedule online that gives you daily Bible passages that focus on varying themes—hope, peace, joy, love, leading up to December 25.

Meditating on the reconciling of my selfish desires with a perfect love that sacrificed for me has given me such peace. If I lose my job, the same God who sent his son for me, who provided a job for me back in June, will provide me with a new job.

True, financially, I have an emergency fund. I have few expenses. If you look at my new budget, you’ll see most of it could be stopped, if need be. But mostly, I have the peace and joy of Christmas, in the midst of cost-cutting measures and plunging bottom lines. I have Christ, the Creator who became creation. The Messiah. I have peace.

New Budget

Finding myself with a lot (a LOT!) of downtime lately at the office, I took a few minutes to rethink my budget last week. Last I posted about it here, I was living on $900/month, helped by my rent situation and by my being free of debt.

Since I started using Mint.com, however, I’ve realized my former budgeting system (i.e., multiple labels, highly divided categories) just wasn’t working anymore. I was having a hard time making sense of things and, mostly, if you were to ask me what my general costs of living were now—what my basic budget was—I would have had to pull up the computer screen to know. That’s not good enough.

Dave Ramsey’s site has this nifty “gazelle budget” thing online where you can input your monthly income and have it break apart what you should be spending in each of 11 categories. Then you can alter things a little, with each change showing you what percentage of your income is going to each category. It was PERFECT for me and it took less than five minutes total for me to reorganize, think through my spending, update my Mint.com budget and feel a lot more in control of my finances.

For my needs, I’m using 8 categories.

1. Investments: Undisclosed amount. This will be my biggest chunk of money, receiving way more than the necessary 5% the gazelle budget auto-inserts. I’m actually trying to save/invest more like 40% of my income. Again, this is primarily because of my low living costs right now, but also because, well, remember how work is SLOW? I have a fully funded ER fund, but I still like to play things safe.

2. Giving: Undisclosed amount. It’s my personal conviction to always give at least (and probably more than) 10% of my income to ministries and people that need it.

3. Food & Dining: $280. I feel like such a glutton with this, but I really like to eat and cook. Mostly eat.

4. Personal Care: $260. Toiletries, services like hair cuts, etc.

5. Auto/Transportation: $200 This will cover things like car insurance, fuel, bus/train tickets, etc. Most months, I’ll probably be way under budget.

6. Clothing: $200 So, yeah. I don’t *need* $200 of clothing each month. But I really like being able to buy a new shirt or a new coat sometimes, and what the heck.

7. Entertainment: $160 Fun money, separate from clothes.

8. Health & Fitness: $100 This will include my monthly $50 prescription co-pay, as well as random doctor’s appointments or other medicines. If this ends up being a little low, I can also take money from the personal care section.

What I Like Already:

FREEDOM: I love that since I know I’m putting enough into savings/giving FIRST, the rest of this stuff is stress-free and enjoyable.

GENERAL CATEGORIES: It’s so nice to just throw shampoo into “personal care,” along with a set of bed sheets or a new spatula. Much easier than having a “toiletries” section and a “kitchen” section, etc.

Holiday Gifts: Thoughtful is > Expensive

This time of year, gift-giving is on everyone’s mind, especially the retailers. I mean, who can blame them with sales being down, right? Since Halloween ended and until New Year’s Day, every store in America has one goal: convince you to buy what they sell, in the name of gifting. There will be gift sets, pretty wrapping, “sales,” home parties thrown by people you hardly know (PartyLite, anyone?).

Here’s my advice: Ignore them. When it comes to gift-giving, what you spend is irrelevant. I swear, a million times over and over again, it’s the thought that counts. Personally, I’d take a small trinket from that store I told you I loved but never shop at much more than a $200 sweater from J.Crew.

The holidays don’t have to break your budget, honest. In fact, I think a little thoughtfulness could put the holiday spirit back into all of us. Here are some ideas:

1. Write a letter.

This is something I’ve started doing for the people that really mean a lot to me. On their birthdays, I sit down, clear my head and write out why I like them, memories I’ve had with them, how much I love them, carefully crafting what I want to say. It takes some time, but otherwise the cost is free. And the payoff is huge: Everyone likes to be appreciated, and seeing someone’s face when reading a friend letter is priceless. If you’re feeling stuck with writer’s block, try this: Take a lined piece of paper, number it top to bottom and write at the top: I’m thankful for you because. I only did this for someone once—my mom on one of her birthdays—but she still keeps it.

2. Create something.

I’m a foodie, so I lean towards baking. You might be crafty: Can you knit? Are you into wood-working? Have an artsy side? If there are things you create well, use those skills to make something for the people you love. Put thought into it: steer your gift towards their interests somehow (example: a scarf for your dad who walks two blocks from the train to work or a framed photo of the family vacation spot for your grandparents). One year, I bought a baby album and filled it with my brother’s and my baby pictures, all organized and stuff, for my mom. She still has that, too.

3. Go simple, practical.

Every baker would appreciate an extra Silpat ($15). Every budding photographer needs a tripod (I just saw one for under $50). The key with simple and practical gifts is to THINK about the recipient’s interests and THINK about what they have/don’t have, and then get something that they could use. What you spend is irrelevant. You want the person to know you care about him or her and that you are interested in what they do.

After all, that’s what giving gifts is all about.

This post is part of a series brought to you by the College Money Network. To read more frugal gift-giving ideas, check out these other sites!

o Broke Grad Student
o College Finance 101
o MFA or Bust
o Poorer Than You
o Spilling Buckets

CMN Frugal Holiday Giveaway

The College Money Network is helping you celebrate the holiday season with a giveaway! With the economy in a recession, many of us are cutting back on our holiday spending this year, but we still want to have just as much fun. Share your frugal holiday ideas (gifts, party plans, etc.) and earn chances to win one of the awesome prizes we’re giving away just in time for the holidays. Later in the week, we’ll be posting a series of valuable articles, sharing our own frugal holiday ideas, to help you spread cheer without emptying your wallets this holiday season.

Here are the Prizes:
* 2 GB iPod Shuffle
* $50 Photofiddle.com Gift Certificate
* $25 Amazon.com Gift Certificate
* One-year magazine subscriptions to:

o Kiplinger’s
o Money Magazine

* A copy of The Millionaire Next Door

Here’s How to Enter:

There are multiple ways to earn entries into the CMN Frugal Holiday giveaway. Complete as many as you can to increase your chances of winning a prize! You may enter each way once.

* Leave a comment on this post about your frugal holiday ideas. (1 entry)
* Write a post on your own blog about your frugal holiday ideas and email us to let us know. (2 entries)
* Mention the CMN network and include a link to this post on one of your favorite sites (e.g. comment on a blog, post in a forum, etc.). Email us with a link to where you mentioned it, so we can confirm the entry. (2 entries)
*Subscribe to the College Money Network group feed. (1 entry)
*Subscribe to This Writer’s Wallet and e-mail me (gradgirlblog@gmail.com) the secret password (current subscribers are eligible). (3 entries)

* Visit individual College Money Network member sites to learn about opportunities to earn additional entries.

o Broke Grad Student
o College Finance 101
o MFA or Bust
o Poorer Than You
o Spilling Buckets

Here’s How to Win:

All valid entries will be assigned a unique number. We will use a random number generator to select the winning numbers. Odds of winning depend on the number of entries received.

All entries must be received by December 15, 2008 at 11:59 PM PST.

Winners will be notified the following day. After all the prizes have been claimed, we will release an official announcement listing the winners.

Rules and Restrictions:

* All winners must be 18 years of age or older and live in the United States.
* No purchase is necessary to participate in this giveaway.
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* Prizes are provided as-is, and substitutions may be made at our discretion.
* Winners must reply within 1 week from the time we notify them to claim their prize. Otherwise, they forfeit their prize, and it will be awarded to an alternate.

ER Fund Goal Reached!

I’ve been so busy lately (I hate when people say that. OK, I’ve not made time lately) that I didn’t even notice my ING ER Fund of $8K has been reached. YEAH!

The only other goal left in the sidebar is my down-payment fund, where I was planning to deposit $5K by 12/31/08. I’ve scheduled a deposit this week for another $1,000, which will bump the total to $3,500, but I’m not sure if I’ll put in the other $2K before the new year or not.

pipe dreams and coffee shops

So over the holiday weekend, I spent some time in a quaint little tourist town, popping in and out of shops and bundled up with a scarf and mittens. One of the stores I visited, a coffee/tea shop with all designer plates, gourmet goods, fancy aprons, name-brand everything, drew me in with the smell of brewing coffee and charming European decor.

I kind of wanted to live in that little shop. Smelling fresh brew, meeting new people, surrounded by beautiful things. It would be a nice life, I romantically thought to myself. I could see myself doing this.

Then, almost as soon as the daydream came, I started thinking money.

Even in a town that makes its bread and butter on tourism (though not as much in winter), I was really surprised to know this coffee house could exist. It was filled with nice things, but nothing I’d buy—too expensive! Also, I know I could buy most of that name-brand stuff online… it’s not like it’s particular to the town or region. So I really wonder how it survives.

I researched the place online and learned it’s actually been in existence since the 80s. I don’t know if it’s always carried the same things or always been a coffee/gift shop, but still. That’s some longevity.

So somehow, the shop owners must be either (a) making enough income each year to profit on what they pay for the goods/rent/wages or (b) this shop is a hobby for people who have money from another source.

Why is this on my mind? I guess because it was the kind of place I’d always dream of opening, but would never jump into because it doesn’t seem like a sure thing. Kind of like running a bakery. Or freelancing writing. Or opening a restaurant. All good ideas, all possibly profitable for some people… but longshots. Hard to do. Need passion, commitment. Very likely to fail in terms of income.

Yet. Judging from one coffee shop, it all seemed possible.