Jana Says

Money Tune Tuesday: Count on Me

December 13, 2011 by Jana 4 Comments

Five years ago, my life completely changed because five years ago, my daughter was born.

My whole life is different now because I am a mother to the beautiful little girl that lives in my house. If it were not for her, I would never have taken charge of my finances. If it were not for her, I would still have relationships with people that take advantage of me and use me at their own convenience. If it were not for her, I would still work in job I hated. If it were not for her, I would not be pursuing the job of my dreams. If it were not for her, I would not know the wonders of seeing life through a child’s eyes.If it were not for her, I would not know the what it’s like to have someone look at you and say “I love you, Mommy” (which are probably my 4 favorite words). If it were not for her, my life would not be what it is and for that, I am eternally grateful to her.

I am not a big crier. I can count on one hand the amount of movies that I’ve cried at. But when I was pregnant, I cried at everything. One song in particular made me cry. All. The. Time. I would literally sob every time this song came on that it bordered on embarrassing. But when you’re pregnant and this verse is part of the lyrics, crying is understandable:

Anytime you need someone
Somebody strong to lean on
Well you can count on me
To hold you till the healing is done
And every time you fall apart
Well you can hide here in my arms
And you can count on me
To hold you till that feeling is gone

I guess I should probably tell you now that this song is Default’s Count On Me. I’m using it for today’s Money Tune because, although it has nothing to do with money, it’s meaningful to me because of my daughter. And my daughter is the reason I’m almost completely debt free and financially secure.

Happy birthday, my little E-Bug! I love you!

How to save for the future

December 12, 2011 by Jana Leave a Comment

The following is a guest post from Money Supermarket

People are now starting to realize that they cannot depend completely on the government to look after them when they retire. This is why it is so important to start putting savings into smart investment choices such as a cash ISA.

The term, ISA stands for Individual Savings Account and this is an account that allows individuals to place savings and other investments into it without having to pay taxes on the interest. These taxes can be as high as 50% depending on the tax bracket that you are in. A cash ISA can also be used to hold other investments such as stocks or bonds.

This is a great way to save for the future since the money is not taxed when it is withdrawn. There are limits to how much can be invested each year and this figure has risen annually over the last ten years. The amount that is allowed to be deposited each year continues to be adjusted to inflation.

Don’t Waste Money

In order to save enough money each year to contribute to cash ISA or other investment vehicles it is important to cut down on unnecessary spending. Many people do not realize how much money is wasted each month on items that do not add substantially to the quality of life.

Buying snack food and drinking expensive coffee at upscale coffee shops may be enjoyable but it does not contribute any added benefit to the average family. What these habits can do however is to cut substantially into the monthly savings budget. People are often surprised when they sit down and figure out where their money is being spent every month.

Because of heavy workloads many individuals find it necessary to buy fast food or eat at restaurants on a regular basis. This is very expensive and a half hour every day spent preparing a homemade meal can cut this cost substantially.

Monitor Your Spending

When Christmas comes around many parents buy their children the latest and most expensive toys on the market. Many of these expensive toys are soon discarded in favor of something new. Parents would do well to save their money and put it into an investment account instead.

This pays big dividends in the long term and can ensure there is enough money to send children to college. It is useful and highly interesting to keep track of monthly expenditure for a period of time to see where the money is flowing. This should help most individuals get their money expenditure under control and their savings back on track.

It is not that people are unable to save money every month, but rather that they often do not keep track of where unnecessary expenditure is going.

The tale of the $100 paycheck

December 12, 2011 by Jana 22 Comments

This is the true story of my first real paycheck.

As a kid from Long Island, my summers were spent at camp. First day camp, then sleep-away camp (CPLV. Best. Camp. Ever), then one summer on a west coast/Canadian Rockies tour. By the time that all ended in 1993, my parents told me that the following summer I would not be allowed to return to camp (this made me sad. Many arguments ensued) and I had to find a job. So that summer, the summer of 1994, at the ripe old age of 17, I got my very first job. As counselor-in-training. At a camp.

It was a logical job. After all, I was an experienced camper and I had plenty of experience babysitting (I had been doing it since I was 12. Yup, back then, people left 12 year olds in charge of their children) so it made sense that I would get a job supervising children in an outdoor setting in the middle of summer. Rather, I would get a job assisting someone supervising children in an outdoor setting in the middle of summer. It was my sneaky way of still being able to go to camp but meeting my parents’ requirement of getting paid.

I was a smart one, too. Not only did I manage to luck out with having 6-year-old girls but I signed up to be a bus counselor as well (even though I was 17 and had my own car, I still chose to be a bus counselor. There was a reason). I know you’re wondering right about now “How on Earth are those two decisions smart?” I’ll explain. It’s a rather simple explanation that can be summed up in two words–more tips. Where I’m from, it’s protocol that parents tip their children’s counselors and CITs. Parents of 6-year-old girls know what a handful they are and people always tip the bus counselor. All of these equaled more money for me. Which I desperately needed because my pay? Was pitiful.

I know that you’re thinking that this sounded like the perfect summer job. It was outside, going swimming, doing arts and crafts, avoiding horses (I am terrified of horses) and I didn’t even have to pay for my own gas to get to work. What sounds better, right? Unfortunately, there was a downfall to this job. Besides the fact that the guy I had a huge crush on all summer did not like me back (this was the first time I realized that perhaps I should not have crushes on Jewish boys, much to my parents’ dismay), my paycheck, which I was set to receive only at the end of the summer was going to be a very paltry $100.

$100. For 8 weeks worth of work. I found this out at the interview and I still took the job on purpose. Reflecting back, I realize that this was insane. But in my completely illogical, 17-year-old head, it made sense. I didn’t want to waitress and the thought of working retail was not at all appealing. I was a camper, dammit! I was going to work in a camp no matter what. I was still going to earn money through tips and babysitting on the weekends. Also, I was very fortunate that I had no expenses beyond my hobbies. What did I need money for? So, I accepted the $100 with a smile on my face, satisfied that I had landed my very first real job. And you know what? The experience was worth every penny of that $100.

If you do the math, that summer I worked for approximately $.31 per hour. I’m sure that’s somehow unlawful. But the camp was able to get around any sort of law and that’s what they paid me. I do remember that I made about $300 in tips. When you think about the fact that I had 4 or 5 campers and there were about 7 kids on the bus, that equals roughly $25 per kid. OK. Maybe that’s pretty terrible, too. But at the end of the summer I had $400 and nothing to spend it on but CDs, books, and going out with friends. Not too shabby. Fine. It is shabby, but I was proud of it. Because I had not only applied for the job, but I interviewed and was offered the job all on my own.

Now, over 17 years later, I’m still proud of that job. I learned so much (in addition to figuring out that Jewish boys don’t like me) about myself, my capabilities and my work ethic. I learned how much sunscreen it takes not to get a sunburn. I learned that, no matter how hard I try, I will always be afraid of horses. I learned that people can go way overboard with their love of Stevie Nicks. I learned how to apply for a job, how to interview for a job, and how to accept a job. Most of all, I learned the satisfaction of getting a paycheck.

And that? Was worth all $100.

Saturday sharing #3

December 10, 2011 by Jana 1 Comment

Don’t forget to like Daily Money Shot on Facebook. If you do, you could win $25!

Here are some of my favorites from this past week:

Personal finance reads (where I showcase some of my favorite personal finance posts)

8 Frugal Ideas I Hate at Money Spruce. Jeffrey hits on a lot of ideas that I think lead to frugal fatigue. I have to say that my least favorite frugal idea is DIY just to save money. Sometimes it’s actually less expensive to pay a pro. Trust me on that one.

I Don’t Regret My Mistakes at Former Banker. I totally agree with Will on this. I don’t regret any mistakes that I’ve made because they’ve made me the person I am today. Besides, I’m too busy. I don’t have time for regret!

Work Hard and Shut Up! at Your Finances Simplified. A really entertaining video about a very hard working gentleman. His work ethic puts most of us to shame.

How To Make a Hogwarts Acceptance Letter at Debt Free by 30. Niki provides a fantastically creative and interesting way to make a Christmas gift for the Harry Potter fan in your life.

Shut It, Cinderella: The High Price of the Princess Mentality at The Debt Princess. Jessica makes a lot of really valid points regarding the correlation between the princess dream that is sold to little girls and debt. For the record, Cinderella is not my least favorite princess. That would be a tie between Snow White and Sleeping Beauty.

Nonpersonal finance reads (where I showcase some of my favorite nonpersonal finance sites)

Hyperbole and a Half–Not only is Allie and awesome cartoonist, she’s a pretty damn good writer, too. Her stories are freaking hysterical and so are the illustrations. I think my favorite is the Alot. What’s yours?

Passive Aggressive Notes–Whenever I need to read the notes I wish I had written, I go here. Then I feel better.

The Problem With Young People Today Is…— I’ve recommended a post on this site before but now I’m recommending the whole site. It’s absolutely one of the funniest most well-written sites out there. Go check it out now. Seriously.

My other writing (where I showcase myself or where you can find my staff writing)

Buffett, Zombie and Branding a Passion at Go Be Rich

A Car For Christmas? No Thank You! at Richly Reasonable

Debunking Some Common Myths About Online Learning at Broke Professionals

How To Become a Vegetarian at Prairie Eco Thrifter

My job is depressing. And I want to leave.

December 9, 2011 by Jana 21 Comments

I’ve talked before about how self-employment scares the crap out of me. That still doesn’t change the fact that I have a burning desire to leave my job and pursue freelancing full-time. Why? My job is depressing.

I don’t mean my job is depressing in the normal “I hate working in an office on somebody else’s schedule and my boss is a douche and my co-workers are lame” Office Space-type depressing. I mean my job is literally depressing. I don’t know how much I’ve disclosed here, maybe some drips and drabs, but I’m going to describe it for you so you can fully understand the depths of how depressing my job is and why I feel compelled to leave.

I as a case reviewer in my state’s Kids’ Department. What this means is that typically when a case blows up for a bad reason, I get the job of looking at all the records and determining if policy was followed, if there were any systems issues…stuff like that. These are typically some of the worst cases imaginable and they hurt my head and my heart. What some people do to kids is just disgusting (I’m not talking people like Jerry Sandusky who do it to strangers. I’m talking about what parents do to their own kids). The crowning jewel of all of this is sitting on my state’s Child Death Review Panel.

Yup, twice a month I get to attend a meeting where we talk about kids dying. Actual cases, too. And all sorts of reasons for the deaths–car accidents, illnesses, SIDS, suicides, homicides, drownings, fires…all of it except deaths or near deaths by abuse or neglect. That’s reviewed in a separate panel that I don’t sit on (which is a really, really good thing). I also get the pleasure of being the liaison for the Fetal and Infant Mortality Review panel. Uplifting stuff, right?

When I took the job almost a year ago, I knew that I was going to have to do this. I didn’t care because it meant getting away from a very toxic work environment and into a much healthier one. I had previously worked for my supervisor in a different capacity and she is wonderful. I can’t say enough good things about her and my other supervisor (I have two, for two different functions of my job). But what I failed to realize was the emotional toll that a job like this would have on me. It’s one thing to supervise juvenile criminals (have I mentioned that I was a probation officer?) or investigate physicians for Medicaid fraud; it’s another to review how babies and children die. As a parent and general human being, it’s become sadder than I can handle.

I have talked to my supervisor about it and she is willing to step in for a few months to give me a break. I appreciate that so much. But eventually I’ll have to go back which makes me even more depressed. I’m tired of seeing the bad side of humanity. I want to see some good stuff. I want to affect change in a positive way, not retrospectively review what could have been done to prevent something bad. I want to see some results of what I do, not have my work linger in committee for 3 years (which is also why I’ll never be a politician). I want to know that I’m actually making a difference.

I recognize that those are pretty tough demands. But I feel that with blogging and writing, I can affect change in a positive way. I can help people learn to make changes in their mindset about money and debt. I can become an advocate for financial freedom and, if I want, I can take up an advocacy role for these kids rather than feeling like a helpless drone. I can actually use my policy background for positive, rather than negative, reasons.

Walking away from this job is not going to be easy. I work with wonderful people, I have a great office with lots of windows, I have a ton of freedom, paid vacation and sick time, a steady paycheck, a pension, medical, vision and dental benefits, a casual dress code–pretty much anything you can want in a job. But it’s just too depressing and I’m sick of the politics that go along with having a government job (the straw for me was not related to my job but to my husband’s. That’s another story for another time. Let’s just say that just because you have a PhD and are friends with a Cabinet Secretary does not mean you are qualified to run an entire division). So I’m working on a plan. I’m not leaving this kind of job, which I do feel lucky to have, without a concrete plan. But I can’t do this job much longer.

It took a lot of soul-searching to come to this conclusion. While I still don’t feel confident in my ability to earn a living as a freelancer, that lack of confidence has got to be better than being depressed every single day. I can overcome the lack of confidence; I’m not sure I can overcome the depression.