Jana Says

Living life from cover to cover

Not so great expectations

by Jana 8 Comments

Back when I was in grad school, I had a gross salary of $11,000 for the entire school year. I made a little more during the summer months but not much more. It didn’t matter, though, because I never felt like I was missing anything. I had enough money to cover all of my needs and most of my wants (credit cards helped out with the rest but we won’t go there). I even had a small savings account and was able to pay for two spring break trips in cash (Cancun and Jamaica). When I reflect on how I was able to have so much on so little, it all comes back to one main point–lower expectations.

When you’re 22, 23, 24, the expectations that you and others place on you are less. You’re expected to live in a crappy apartment outfitted entirely in hand-me-downs. You’re expected to have a roommate. You’re expected to live on Ramen and pasta and beer. You’re expected to drive an not-so-nice car. You’re expected to have a crappy, low paying job.

I did all of these. And I loved every minute of it! I had my own apartment, shared with a roommate, which was supercheap, included most utilities and was on my school’s bus line (however, I either walked or used my car. The bus was utterly unreliable. But it was nice to know that it was available). I spent maybe $35 every two weeks on food. I went out with friends a lot more than I should have but we always found cheap ways to do it. There was not one minute that I thought there was anything wrong with my life. Then I graduated.

Upon graduation, I took a job paying almost 3x what I was making as a grad student. All of sudden, my crappy apartment with used furniture seemed beneath me. My taste in food and bars suddenly went up. So I adjusted my lifestyle and choices to accommodate my new salary for no other reason than now that I was a working adult and not a student. What was expected of me had changed. I was now expected to behave like a grown-up, with all the trappings that go with it (except for the car payment. I was able to avoid that for another 3 years). Reflecting back on it, I don’t know why that piece of paper saying I graduated also came with instructions for how I was expected to spend my money. But it did. And I acquiesced because I didn’t know what else to do.

It never ceases to amaze me how certain milestones imply increased spending and lifestyle adjustments. I would love to know why, as we get older, we feel so much pressure to up our expectation for our lives. What would happen if we didn’t? Would our lives really fall apart? Would our families stop loving us?

Believe me, I understand that as we get older and take on more responsibilities, it’s nice to have more income. And it is nice to have the money to afford “nicer” things. But sometimes, the stress that comes with more income just isn’t worth it. There are some days I truly don’t like the expectations that I own a home (which I do), should have more kids (which I can’t), or have plenty of money for nice furniture or restaurants or vacations or whatever society (and my parents) has decided I should have. I’m not one for making judgments about others; I find it ironic that I let the judgment of others influence the expectations for myself.

Though, I will say, it is nice to sit on my own furniture.

Has increased income changed your expectations for yourself?

Memberships make sense (if you use them)

by Jana 3 Comments

When most people are looking for budget assistance, one of the first suggestions made is to eliminate memberships and subscriptions: diet programs like Weight Watchers, gyms, Netflix, magazines, etc. While that is an excellent suggestion, there’s this to remember–what if you actually use those memberships? What if those memberships actually enhance your life?

Take the gym, for instance. I will agree that gym memberships can be expensive and if you’re on a very tight budget, it may not make sense to keep it. But what if you go to the gym every day? What if you use it not only for the health benefits but for a social outlet or a networking mechanism? You never know who you might run into while you’re on the treadmill or in a Zumba class! You might be a social worker in dire need of a job who just happens to strike up a friendship with the HR rep for a local counseling agency. You might be a high school graduate in need of some income who happens to run into a family who’s looking for a weekly babysitter. Not only that, but you might find out that your gym has an opening in one of its departments (this mainly applies if you belong to a YMCA-type place); that job might then come with a free or reduced cost membership. Let’s not forget the classes, programs and facilities that most gyms offer. Seems to me that the perks are worth the money, even on a very tight budget.

Netflix is another membership that, to me, is worth the money. The streaming feature alone will make you forget that you no longer pay one of the greedy cable companies. If you’re low on funds, movies and old TV shows may provide one of your only sources of indoor entertainment (board games and cards can get old if you’re playing with the wrong people), especially for date nights. In addition to movies and TV shows, there are also educational documentaries and exercise videos available. It’s a comprehensive source of entertainment that serves as the pepper to the salt of free TV through Hulu or streaming through the network channels.

Magazines are a tricky one for me. I used to buy my husband a magazine subscription every year for Christmas and he would do the same for me. But the magazines wouldn’t come regularly, we would get bothersome phone calls from a company selling one of the subscriptions, they would automatically renew the subscription even though we never selected that option, and most of the content is online anyway. Not worth the headache or the money. This year, though, my in-laws bought us subscriptions and I’m quite enjoying them (probably because it’s on someone else’s dime). I get a monthly subscription to Southern Living and I am in love with the recipes! I have a pile of recipes that I’m dying to try. My husband gets Money, Maxim and Conde Nast Traveler–nothing like an ecclectic mix of magazines with expensive tastes to give someone a case of the “I wants” (for the record, I don’t care that he reads Maxim. The pictures don’t bother me and some of the articles are really good. And funny. I was as surprised as you.) I can’t say that I would purchase a subscription for myself, but I can see why if you’re in a niche industry or have a very specific hobby why a subscription would be worth it.

Obviously, it does not pay to keep memberships if you don’t regularly use them. They become a drain on your budget and a waste of services. If you’re not getting anything out of the memberships–educationally, socially, physically–then dump them, stat! But if you do find value in any memberships that you do have, I would look to see other places to cut before getting rid of those. If it’s important to you, find the money for it. I promise not to judge your priorities.

What memberships do you have that are worth the money?

E-reader: yes or no?

by Jana 4 Comments

As I mentioned yesterday, while I was at the movie theater waiting for my husband, I was reading a book (Downtown Owl by Chuck Klosterman). A man said to me that I should get a Nook. Though it took me a minute to realize exactly what he was talking about, I then felt compelled to defend my choice not to have an e-reader. I stand by my decision (unless a Nook or a Kindle happen to fall into my lap for free) for several reasons:

  1. I don’t want to pay for the reader itself. I am saving for an iPad and I’d rather put the money towards that. Money spent on an e-reader is money that takes away from the iPad.
  2. I like holding an actual book. There is something wonderful about holding an actual book and turning the pages and using a bookmark that I just love.
  3. I like that books don’t require batteries. I hate batteries. They are annoying and expensive and I usually forget that they need charging until it’s too late. I want to be able to read when I want to read, not when a battery tells me that I can.
  4. I read in the bathroom. Yup, I admit it. I read in the bathroom. Sometimes, if a book is really good and my family won’t stop hounding me, I’ll pretend that I have to go to the bathroom so I can sneak in an extra chapter or 2. I wouldn’t want to risk the e-reader falling in the toilet.
  5. I like that I can get books for free at the library. Sure, there are plenty of free e-books but from what I’ve seen, the books I like to read are not free. I’m not one for buying books anyway. I tend to read them once and then they just sit on a shelf. If someone wanted to borrow the e-book, I’d have to lend him the reader. And then what would I use? It doesn’t seem practical.

I guess I do see the upside to the Nook or the Kindle: they’re small, lightweight, easily fit in a purse or backpack, can (supposedly) be easy to read outside. But they still cost money and eventually, they’ll be outdated. You don’t get that with a book.

Do you have an e-reader or do you want one?

A short vent about “fixed income”

by Jana 1 Comment

If there is one term in personal finance I loathe, it is this–fixed income.

Fixed income is technically defined as “income that does not change”. Fixed income is usually a term reserved to describe those who are retired, living on a pension/Social Security or those who are on some sort of government assistance, trying to make ends meet on a small monthly amount. It’s a pretty negative term, designed to conjure up images of those who are poor and suffering and facing the burden of increasing costs without any chance for their income increasing. Fine. I can accept that definition. And I can accept why news outlets love to use it.

However, there are so many more of us living on a fixed income who don’t fit that description. For instance, I live on a fixed income. How? Well, I am a salaried worker. I get no overtime (there is not even an option for overtime), no bonuses, no commission, and I haven’t gotten any sort of raise in 3 years. In fact, one year, I lost pay due to our state’s budget crisis. Every payday, I get the exact same amount of money. No more, no less. No choice to have more or less. That is my fixed income. My income doesn’t change to keep up with increasing costs, either. Because that is the only money I have coming in (unless I’m working my 2nd or 3rd jobs, which have variable income), that is what I have learned to live on. And I’m OK with that, too.

I’m not at all implying that those who are less fortunate or have a lower fixed income than me are at all undeserving of the attention that they receive. But I resent the manipulation and misleading use of an objective term to tug at the heartstrings, when, in truth, there are a lot more of us who fit that description.

I don’t want any special attention; I just want an accurate term.

Connect with Me

Subscribe to Jana Says

Jana Says
© 2017 by Jana Says. All Rights Reserved.
Crafted with by sasspurrella designs.