Sharing Saturday #5
With tonight being Christmas Eve (and the 5th night of Hanukkah), I can’t help but reflect on the gifts I’ve been given. Perhaps the greatest gift has been this blog and the phenomenal people I have met because of it. I don’t believe that it’s an accident that I’ve found my niche in personal finance writing. And what it’s opening up for me is unlike anything I’ve ever known.
There are certain bloggers who have propelled me to where I am and will help me to get to where I hope to go. So, for today’s sharing Saturday, I’m going to direct you to those who have made 2011 my best writing year ever:
So Over Debt–Andrea is the reason I started a personal finance blog. And the fact that she is a great friend is an added bonus. So really, she’s to blame for this whole thing. You can praise or blame her. I know she won’t mind.
Budgeting in the Fun Stuff–What can I say about Crystal? She was so friendly towards me at FinCon11 (I am painfully shy and socially awkward) and because of that and her support and pimping of my mad skills, I’m now a legitimate, money earning writer.
PF Firewall–Jesse’s never met me but he’s more supportive of me as a writer than almost anyone I know. I am so looking forward to meeting him at FinCon12 and giving hiim a big hug.
Mom’s Plans and Wealth Informatics–Two more great bloggers, Melissa and Suba have shown faith in my ability and have graciously brought me on as staff writers for some of their other projects. I hope I don’t let them down!
Another Housewife and The Dog Ate My Wallet–I’m putting these two ladies together because I know them from outside the blogging world and they are just amazing friends to have. They are talented, smart, warm and I am blessed and honored to call them my friends.
Careful Cents, Frugal Beautiful and The Financialite–My bitches. I met these ladies at FinCon11 and they rock. Look out for us in 2012. But be warned. The Bitches are coming (oh, and Andrea from So Over Debt? She’s a Bitch, too).
The Yakezie Network–Best. Network. Ever. Everyone I have interacted with from Yakezie is awesome. My blog would never have even gotten off the ground without this network. I can’t wait to become an official member next year alongside some of my friends like Eric from DollarVersity and Niki from Debt Free by 30.
2011 has been an interesting year for me. My life has been completely and forever changed because of this year. And next week, for New Year’s, I’ll provide you with a list of some of my favorite blogs that I’ve found in 2011.
The pros and cons of my finances
I do something that I think a lot of us tend to do. I tend to focus on the negatives rather than the positives. It doesn’t matter what it is. More often than not, I will discuss why something about me or a situation or a meal is bad rather than discussing what was done. I do this most often with anything about me personally (intelligence, appearance, parenting skills, etc) but I also do it a lot with my finances.
For so long, I had no money. I was drowning in debt and all of my paychecks went to pay someone else. Stuck in dark black hole, I never thought it possible to claw my way to the top and eventually climb out. Even now that I have no credit card debt and am much more financially secure than I was 5 years ago, I still feel like I’m doing something wrong. I still look at my financial picture and see something bleak. It’s like having body dysmorphic disorder only with my finances instead.
I wish I could stop thinking that my financial picture is dismal. Because I know it’s not. It’s just that for so long, everything I did was wrong, it’s hard to flip the mental script. So I’ve decided to try something. I’ve mentioned before that I was in a sorority. When we were voting on girls during rush, we used a “pro, con, con, pro” system. Essentially, we had to start and end on with a positive adjective with the negatives sandwiched in between. I’m not sure where this logic came from, but it’s nice to start and end a conversation on a positive note. It would also force us to realize that no matter what, there’s always something good or nice to say about another person.
I figured I could try this system with my finances. I’d list a pro, con, con, pro with a little bit of explanation for each.
Pro: I am two months away from being nonmortgage debt free! After approximately 5 years of paying down debt, I’m almost done. Honda, you can kiss my ass! If I never see a credit card statement again, I’m fine with that. Financing anything? No, thank you! I just keep singing George Michael’s “Freedom” in my head. Or maybe I’m more like Pinocchio now that my debt strings have been cut. Whatever it is, it feels terrific!
Con: I’m not saving enough for retirement, my daughter’s college or general savings. As I am in my mid-30s, I am significantly behind in my retirement savings and have a lot of ground to make up if I ever want to retire. For college savings, there is some money but not enough to even cover one semester of books in 13 years when she starts college, never mind tuition. And the husband and I seriously need to ramp up our general savings for things like new cars when ours eventually stop working, travel, home repair or new home purchase, emergency pet expenses or any other major expense. These deficiencies could plunge us back into debt.
Con: My husband’s student loans. Since he, like so many others, had to pay for college and graduate school by himself, his loans are quite high (in the $40K range). The goal is to pay these off before our daughter starts college. It’s possible, maybe, with a lot of hard work and dedication. But I’m exhausted from the last five years. And I have a great deal of resentment towards this particular payment because I know the circumstances behind its existence. It’s difficult keeping up the dedication towards paying off a debt that is not technically mine. I
Pro: I am a good financial role model for my child. By gaining the knowledge through my get out of debt experience, I developed a much stronger grip on personal finance. I have better, healthier habits. I understand fundamentals like how to create a budget, live within my means, set up savings goals and use my money practically instead of frivolously. I have a rudimentary understanding of complicated subjects like investing and insurance. I understand how to use credit intelligently. Most importantly, money is not a secret or taboo subject; I talk to her openly about our finances. And by doing this, I’ve broken the debt cycle in my family.
Having written it out like that, I feel better and more confident about my finances. I know where my weaknesses are just as I now know my strengths. I think now I understand why my sorority made us vote like that.
What does your pro, con, con, pro look like?
Outsourcing chores
A few years ago, at the recommendation of a co-worker, I read Tim Ferriss’s “The 4 Hour Work Week”. To be honest, I hated the book. I thought that he came off as pompous, rude, snobby and kind of douchey. Most of what he discussed could in no way, shape or form be applied to my life and my situation. Except for one idea. Outsourcing.
Quite frankly, I love the idea of outsourcing the unpleasant aspects of my life. I would love to be rid of the chores that I can’t stand so that I can focus on the things that I do love and want to cultivate. And, if I think about it, I already do outsource some things—haircuts, dog grooming, trash and recycling pick up, and car maintenance. I don’t mind paying for these services because they are convenient, make my life easier and honestly, no one wants me cutting his or her hair. Or working on a car.
The problem is that I want to outsource household chores. I’m not the most domestically inclined woman around. While I do enjoy some things like cooking and baking and child care and general errands, there are certain things I cannot stand. Those are the ones I would like to eliminate. But the cost for outsourcing those chores is way too expensive for my budget. Or is it? I decided to do a little research and come up with an amount that I would have to pay each month to outsource the 3 things I hate the most:
Laundry
Dane Cook once joked that the only way to completely have no laundry is to wash your clothes naked. Sadly, he’s right. Laundry is a cruel joke, especially when you have a child and dogs. I am forever stuck in a cycle of wash, dry, fold, put away. Repeat the next day. I think I spend a minimum of 10 hours a week doing laundry for my family (fortunately, my husband does his own laundry. This is a huge blessing). While I’m able to complete other tasks while the washer and dryer are running, it’s still annoying to be in the middle of a task only to have to stop to attend to the laundry. Not to mention that I hate the whole laundry process. So I wondered what it would cost to have someone do my laundry for me.
I looked around and there are services that will wash and fold my clothes. Here’s the info on the cheapest company I found: $1.25 a pound with a minimum of 10. That’s just for your standard wash, dry, fold that is supposedly done according to my explicit directions. They claim to have no extra fees, including delivery. Let’s assume I have 25 pounds of laundry per week. That’s a minimum cost of $125 per month. However, they don’t say how long it would take to complete the service, and I have to schlep my clothes to the place and pick them up.
The verdict? Not worth it. I’m not really saving any time by having to drive back and forth to the place, it’s expensive compared to doing it myself and I’m basically a slave to their time frame.
Cleaning
I’ll admit it. I’m a terrible housekeeper. My house would never be deemed uninhabitable as I insist that beds are made, bathrooms are tidy and there are no dirty dishes all over the house. However, I’m lazy with dusting and vacuuming, my kitchen floors don’t gleam, toys are usually all over my living room and laundry is usually everywhere (see above about how I hate laundry). My husband and I do the best we can but my house never looks quite clean enough. I would love to have one of those houses that sparkle. But with me in charge, it’s not going to happen.
Enter a cleaning service. These are pros whose job it is to make my house sparkle in that commercial, TV show way. I did use a cleaning service last year, just prior to Thanksgiving, in order to get my house respectable enough to have company. That service cost $220 for 2 hours but I figured it was expensive due to the fact that it was an initial, deep cleaning. If I remember correctly, it was approximately $100 per week for regular home maintenance, based on the size of my house and what would need to be done. Let’s say I have the service come 2 times per month. That’s roughly $200 and I would have to stay home (I have extreme paranoia issues and can’t stand when people I don’t know are left unattended in my home).
The verdict? It’s a possibility. I loathe cleaning and I’m not good at. Additionally, a cleaning service would free up time for me to work on my blog or other projects.
Food shopping
There is nothing that makes me more anxious than the thought of a supermarket on a Saturday or Sunday morning. The small aisles, the shopping cart collisions, the wrath at the deli counter, the agony at the register. It all makes me grimace with displeasure. Unfortunately, this is the one chore per week that I cannot put off (have I mentioned that I purposefully have 3 weeks of clothes and underwear so that I can go that long without doing laundry?). I’d send my husband but he loves supermarkets like I love MAC and I fear for our budget. So each week, armed with my budget, my list and my body armor, I trudge to the supermarket for what is the worst hour and half of my week. And every week that I’m there, I wish there was a way to avoid this horror.
I have learned that there is! Apparently, my grocery store has a service where I can order my food online and then a refrigerated truck will deliver the groceries right to my front door! This is fantastic! After the first delivery, which is free, there is a delivery charge which is based on the amount of food ordered (<$150 has one set of fees, >$150 has another) and the time frame in which the food is delivered. However, like the cable companies, your food has a delivery window and the delivery charge is based on the window you pick. Let’s say I pick the 4 hour delivery window. That would run me $3.95, for a total of $103.95 each week.
The verdict? I’d give it a try for free. Although I am freaked out by the thought of someone else handling my groceries, it might be worth it to avoid having the headache of food shopping. Besides, while I’m waiting, I can always do laundry or clean!
Do you outsource any household chores? What value do you get from it (besides time)?
Jeremy Renner inspires me
I wanted to write a post today about how I am totally inspired by Jeremy Renner. I read an article on him a few weeks ago that talked about his early days as a struggling actor. How he couldn’t pay his electric bill and how Ramen was a treat. How he took small parts in movies but wasn’t getting recognized. How he started flipping houses just to pay the bills. How he was in The Hurt Locker and basically, his entire life changed. How, at 40, he is finally seeing the for which success he worked and struggled. I wanted to write about how that completely inspires me and encourages me. But my brain got stuck when I tried writing anything that makes sense. So please bear with me.
I tend to find inspiration in strange places. As I am now firmly in my 30s, I often tell myself that I’m too old to pursue a dream or learn a new skill or that I’ll never make it as a successful blogger/author/fill in the blank. There are so many people who have a fresher perspective or new ideas or confidence. Why would an audience flock to me when there are so many smarter, wittier, more talented writers than me? It’s hard to convince myself to compete with the “younger” crowd because really, who wants a fairly calm, middle aged dog when you can have an energetic, entertaining puppy?
Then I see stories about people like Jeremy Renner or Jane Lynch or Rodney Dangerfield, who didn’t find success until later in life. I realize that I’m not so much different than them. I have dreams and dedicaiton and work ethic and I hope, a little bit of talent. I’ve struggled to get to where I am. They didn’t quit even though they were competing against younger, differently talented, possibly better looking actors. They didn’t quit because it was financially tough. They didn’t quit because they knew how badly they wanted it and they believed that if they worked hard enough, it would eventually pay off (I’m not sure if this is actually true but I’m going to pretend that it is). Since they didn’t quit, I can’t quit. I try to believe that it will pay off.
Make no mistake about it, I don’t for one second believe that trying to pursue my dream of being a writer is ridiculous (though, on occasion, I do question its practicality). I don’t think anyone’s dream is ridiculous. If I do, I’m certainly not going to say anything. Because who am I to crush anyone else’s dream? That’s why I encourage my daughter to pursue her dream of being a mermaid (seriously, it’s what she wants to be when she grows up). As her mother, I will do everything possible to help her fulfill her mermaid dream. When she realizes that’s not possible, I will encourage her in whatever comes next. Because dreams are important. And you have to believe, as I do, that your dreams will eventually come true (yes, even my ludicrous one of interviewing Jason Segel).
That doesn’t mean that I think that dreams should be pursued with little to no planning. In order for me to pursue my dream, I had to have a familial support system as well as a network of other writers/bloggers. I had to find a niche where I belong (and I don’t for one second believe that finding a place in the personal finance world is an accident). Most importantly, I had to have my finances in order.
This March marks a huge month in my financial life. As of this March (possibly February), I will be completely nonmortgage debt free. My husband still has student loans but as far as what my name is on, the mortgage is all. Having this in my not-so-distant future means that I will be able to save money in an emergency-I-can’t-wait-to-quit-my-job fund and actually, for the first time in my 34 years, have the freedom to do what I want to do. I still have income sources, and I’m working on a few ideas for other income streams, so I won’t be earning $0 which is comforting. But I’ll be earning that money doing what I believe I’m supposed be doing–writing.
I might never be a New York Times best selling author or make $1,000,000. But I’m fine with that. I bet Jeremy Renner never thought that he’s have 2 Academy Award nomiations. But the bottom line is that he’s a successful, working actor who can say, with certainty, “I’m an actor”. And as long as I’m writing, and I’m earning a few dollars, I can say, with certainty, that I’m a writer.
Even if I’m an older dog, I’m pretty sure I’m not out of tricks yet.
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