Jana Says

Living life from cover to cover

Book review: Secrets of a Stingy Scoundrel

by Jana 2 Comments

I recently had the opportunity to read Phil Villarreal’s “Secrets of a Stingy Scoundrel: 100 Dirty Little Money-Grubbing Secrets”.  The premise of the book is to provide, you guessed it, secrets to saving money. Phil covers every category from kids to travel to restaurants to dating. If you want to save money, he gives you tips on how to do it. Except Phil doesn’t provide your standard advice like clipping coupons or cutting back on cable. He takes it a bit farther.

This is not your standard money saving guide. With tips like using stores like CostCo to provide your free lunch or using your money savvy skills to avoid ever bringing food to a pot luck or ending a relationship just before a major day (birthday, anniversary, etc) or even discussing why you should never buy a watch, no stone is left unturned in this book. If you want to know practical yet morally questionable ways to save money in pretty much every area of your life, this is the book for you.

I feel obliged to point out that Phil is an outstanding writer. A topic like saving money is usually a bit, well, dry. Okay, fine I’ll say it. It’s a boring topic. But the way Phil presents it is clever, entertaining, and blends just enough pop culture to drive his point home without feeling like he’s pandering to his audience (plus, he talks about how he was able to get a free preview of an episode of Prison Break. I’ve never discussed this here but I was a Prison Break fanatic and I think Wentworth Miller is one of the most perfect looking men ever. So, this mention alone made the book awesome. But I digress).  The short chapters make the information easy to digest and help prevent the book from getting too boring.

There was one part of the book that confused me, though. While the point of the book was to entertain and inform, and it did that very well, there was an overriding tone of sarcasm. That tone, which was not at all offensive, did make it confusing as to whether or not he was serious about some of the tips he was suggesting. It was hard to decide if he was providing solid, concrete information, applicable to our lives or if he was making some sort of commentary on cheapskates.

I believe he was doing both. Just beneath the surface of the sarcasm are actually some pretty good tips. But the way it’s presented provides a sort of caution against being so cheap you actually come across like an ass. No one should ever place money and frugality above ethics, morality and basic common decency. It is possible to take frugality too far, as the book points out in a humorous way, but it’s also possible to be careful with your money.

If you’re looking for a book with practical tips for saving money in a manner that, at times, bucks the system, this is the book for you. And if you have a friend who’s thisclose to extreme cheapness, pick up a copy for him, too. He may learn something.

 

The opinions expressed above are entirely my own. I was not compensated in any way for reading the book or providing my opinions. 

Manage your money like a porn star

by Jana 33 Comments

 A couple of nights ago on Twitter, I promised a very special post. This is that post.

There are a lot of financial books and experts out there. I have not written one of those books nor am I one of those experts. I am, however, someone who finds that financial expertise is all around us. Whether it’s from a repo man or from Roseanne, we can learn a lot about our money from what we see and read. It is with that introduction that I present…Daily Money Shot’s Porn Star Guide to Managing Your Money.

That’s right. Here in this comprehensive post are numerous tips, derived from porn stars about how to generate income and manage your finances. Who knew that porn stars could impart wisdom like:

Spend more on the things that enhance your life rather than hinder it

If you’ve seen one porn star, you’ve seen them all. And the one thing you’ll probably notice is that none of them look real. That’s because they know how to enhance their appearance in order to be more successful in their profession. They know that boob jobs and bleaching their hair (just to name the obvious) will cost a substantial amount of money but the payoff is worth it.

Porn star to real life translation—when calculating your budget, make sure that you’re spending more in categories that make you happy. If you like to travel or eat out (pun totally intended), then make sure that you allot more money in those categories.

Know your limitations

Porn stars know what they will and won’t do. I don’t know for sure, but I’m assuming that they discuss those limitations with their agents and directors prior to filming a movie. It’s not profitable for anyone for these men and women to join a movie only to find out later on that they won’t do that.  If they are clear up front, everyone makes the most amount of money possible and no one is uncomfortable.

Porn star to real life translation—Have a budget. A budget sets your limitations for you. It tells how much money you have to spend and save, and it lets you know if there’s any wiggle room that month. If you’re in debt repayment mode, the limitations of a budget give you the freedom to say no to friends who are spendthrifts.

Diversify

My favorite morning show, Preston and Steve, often has porn stars as in-studio guests (yes, I know that Howard Stern did this first). The ladies will discuss strip club appearances, book signings, in-store appearances…pretty much any place you can think of that would be appropriate for a porn star to show up, they go to. They do performances and appearances as a way of making money. They know that they cannot solely rely on movies as an income stream so they seek out other ways to generate income.

Porn star to real life translation—Same principle, more clothes. Find ways to make more money in a multitude of ways. Whether it’s through a side business, part-time job, the stock market or stealing from your kid, it’s important that you have multiple ways of generating income.

Promote, promote, promote!

As previously stated, porn stars know how to diversify their income. In order to do that, they need to promote themselves as much as possible. It’s why they do those appearances and attend parties and events (and even make appearance on quality TV programming like Celebrity Rehab). By getting their names out there, they can generate that diverse income and be able to live in houses like these.

Porn star to real life translation—Whether you’re looking for a traditional job or aiming for self-employment, you have to let people know you’re available. Tell them what you can do, what special skills you have and what sets you apart from everyone else.  Be your own agent. Negotiate what’s best for you. And get out there and sell yourself!

Protect yourself

From what I’ve seen, condoms are not exactly popular in porn movies. However, from what I understand, porn stars are required to have frequent STD and AIDS testing not only as a precaution for themselves but for those they work with.  Protection is extremely important in this line of work because their livelihoods depend on them staying safe.

Porn star to real life translation—One word: insurance. I hate insurance as much as the next person and I’m not intending for this to be a debate on the pros and cons (or a commentary on why it sucks and is too expensive) but insurance is so important. Whether it’s medical, life, car, home/renter’s insurance, you need to have insurance as protection against anything bad happening. Will it cover the entire cost in a lot of cases? No. But it will make things easier.

When it comes to dealing with money, porn stars sure do know what they’re doing.  We can all learn a lot from them. After all, just because you keep your clothes on at work doesn’t mean you can’t make the most of your money!

 

 

Maximizing time and money at Disney World

by Jana 10 Comments

On Monday, I talked about how the next time my family goes to Disney World, we’re going to make some tweaks to ensure that we stay on budget. Today, I’m going to talk about how to save time, money, and maximize your days in the park.

During our trip to Disney World, we were fortunate to go with some Disney experts. We have friends who live in Florida and go to the parks about 12 times a year. They also have a 5 year old girl, so they know how important it is to get through the parks, rides, and character meet and greets as efficiently as possible. They also showed us some inexpensive ways to keep the kids entertained at the park because the park is expensive enough. You don’t need to waste even more money when you can accomplish some of the same goals for free.

A few tricks:

  • Pixie dust. If you walk around the park, you will see little girls decked out in all kinds of princess regalia. Because for a mere $75,000 (fine, I’m exaggerating but it’s really expensive), you can get your child a princess makeover. I find this ridiculous. Instead, you can go into some of the stores, talk to a worker and that person will—for free—sprinkle your child’s head with “pixie dust” (really, it’s just glitter in a wand. But it works).  Princess magic for no cost.
  • KidCot. For the younger kids, EPCOT is really not the greatest place. Let me amend that. For the younger kids, the countries part of EPCOT is not the greatest place. There aren’t many rides and learning about culture is lost on most kids younger than 7. Enter KidCot. In each of the countries, there is a station where kids can, for free, obtain a Duffy bear (Mickey Mouse’s bear). Really, it’s just a cut-out of the bear, stapled to a wooden stick but my kid thought it was the greatest thing ever. After receiving a bear at the first time, the kids take the bear from country to country, getting a stamp from an “ambassador” of the country and coloring in the bear. It’s a nice, free way to keep the kids entertained and engaged. Plus, it gives you a chance to rest your feet. [Read more…]

Disney World? Is expensive.

by Jana 43 Comments

No matter how hard you try, a vacation to Disney World will almost always cost you more than planned. How do I know? It just happened to me.

My husband and I decided a long time ago that when our daughter was 5, we would take her to Disney World for her birthday. We knew this was coming, so about a year prior, we started to save money for it. We wound up with a budget of $2500 and we did everything we could to stay within that budget. For instance, we stayed at an on-property hotel during the off-peak season. Doing this meant about a $25 or so per night savings and, because we were staying on the property, we had access to the Disney transportation system (which is fantastic, by the way). No rental car needed! There was even a free shuttle from the airport to the hotel…perfect! We booked a package deal (hotel and park passes) through the Disney website. I’m not sure that this saved us any money but it was nice to book it all in one place.

I also spent a ridiculous amount of time searching for the least expensive flights. Because we fly out of Philadelphia, the fares are pretty hit or miss. They’re either excellent or supremely craptastic. I was able to seize on a pretty good deal on Southwest about 3 months before we left  (it was $600 roundtrip, nonstop for all 3 of us. Not amazing but really not bad). It was in our budget and, after we had purchased the hotel, flight and park passes, we knew exactly how much of that $2500 we had left. For the record, it was $480.  [Read more…]

Lizard Lick Towing: Repo Men, Financial Educators

by Jana 24 Comments

The stars of Lizard Lick Towing. Photo from their website, lizardlicktowing.com

A few weeks ago, my husband introduced me to a new-to-us reality show—Lizard Lick Towing. If you haven’t seen or heard of this gem of a show let me sum it up for you. It’s a reality show following the owners and employees of a repossession and towing company in North Carolina. It is, hands down, the strangest show I ever had the pleasure of watching.

For starters, people really don’t like having their things repossessed. But I did not know that some people took as far as those on this show. One of the owners, Ron, has been punched, stabbed, run over with a car and been victim to other assorted acts of violence. His wife, Amy, who handles the paperwork and administrative duties works behind bulletproof glass and a steel door (which one lumberjack kindly opened with a chainsaw). And their employee, Bobby, is usually a party to whatever Ron gets into. Oh, yeah. Let’s not forget the trailer that was set on fire so they could not take it or the survivalist who showed up with a grenade. Good stuff.

Then there’s the obligatory personal drama.  As if a show where a husband and wife own a business doesn’t already breed drama, let’s toss in the husband’s BFF and his ex-fiancee who the wife hates more than a dog hates fleas (one of the bonuses of the show? Learning all kinds of new southern expressions). I’m telling you, this show is pure gold.

But there’s also a third layer to the show. It’s buried very deep, way below the pickup trucks and Harleys and tattoos but it’s there. That layer? Financial skills. The more I watch the show, the more I realize that there are hidden financial messages. For example:

  • Always have a plan—when Ron and Bobby go to do a repossession, they always have a plan. They know how they’re going to approach the item being repossessed, they know how they’re going to handle the person or people, and they know their route in and out.  A plan is crucial if they want to leave with the item and all of their body parts. The same applies to your finances. Whether you’re in debt or saving for a goal, you need a plan. You can’t achieve your end goal if you don’t. To formulate a plan, determine what route you’re going to use. Ask yourself what resources you have.
  • Have the correct information—a repossession can task a drastically wrong turn if they try to repossess the wrong vehicle or piece of equipment.  So before they repossess it, they verify the VIN or whatever other piece of information necessary to ensure they’re taking the right item.  This is important for your money as well. You need to be sure of your balances, interest rates, terms, due dates, account numbers…everything involved in managing your money.  Transposing the wrong account number or forgetting a due date can lead to unpleasant consequences.
  • Backup is essential—Ron and Bobby almost always complete a repossession together. They know that it’s safer go in as a duo, especially if a problem arises (which, based on the show, it always does).  They know that they have each other’s backs.  And while they do whatever they can to handle a problem, 911 is always a quick phone call away if the situation gets really bad. This situation is a financial two-fer. First, don’t try to handle your money alone. Get a partner. Whether it’s a friend, a sibling or an anonymous message board, having someone to talk to works wonders. Second, When it comes to finances, your emergency fund is 911.  It’s supposed to provide backup when things go horribly awry and you need rescuing.  You may not need it but get it in order just in case you need to dial it.
  • Be objective—Ron and Bobby understand that a repossession is not personal; it’s business. They are there to do a job, not to judge the person. They don’t let their feelings cloud their judgment or impair their ability to complete the task at hand. You need to do the same with your finances. Write down all the details and look at them objectively. Don’t let your attachment to your gym or cell phone or Whole Foods get in your way of your short and long term goals. If it helps, pretend that you’re not looking at your finances; pretend that they’re someone else’s and you desperately want to help that person. What would you tell her? Use that advice for yourself.

I never thought that there’d be TV show about a repo company. And I certainly never thought I’d watch a TV show about a repo company. Even more amazing is the fact that there’s actually something that can be learned from a TV show about a repo company. Who says TV isn’t educational?

 

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