College Money Network

Net Worth Update: February – September 2015

Thu, 01 Oct 2015 20:33:03 +0000

Hello chilllllllllllldren! It’s Three Dog- wait, no, that’s not right. This is Stephonee, not Three Dog. Sorry, I’ve been playing a lot of Fallout 3 recently. But let’s talk about my collection of real-world money, not bottle caps:

February: $15,334 (-$640 or –4.01%)
March: $15,870 (+$535 or +3.49%)
April: $17,841 (+$1,971 or + 12.42%)
May: $23,478 (+$5,637 or +31.60%)
June: $23,298 (-$180 or –0.77%)
July: $23,651 (+$353 or +1.52%)
August: $24,247 (+$596 or +2.52%)

And currently…
September: $22,838 (-$1,409 or –5.81%)

Credit Card Debt?!?

Those of you paying close attention and digging deep into the numbers (so, uh, probably no one) would have noticed that starting in February, I had a sudden addition to my Debts: $3148 in credit card debt that totally wasn’t there before.

Before anyone flips their shit on me – here’s the deal:

My husband and I bought a couch, after saving up for it. Obviously, it was a ridiculously expensive couch ($3148!), but it’s a really friggin sweet couch and like I said, we saved up for it. (It’s a Sactional from LoveSac – it comes apart for easy reconfiguration and moving, which fits our renting and having-people-over-lots lifestyle.)
Toward the end of saving up for the couch, I laid in wait. Stalking LoveSac’s website, I waited for the best deal to come up. And then suddenly, a post-holiday sale appeared! 20% off the couch covers and 36-month 0% interest financing. BINGO!
I pounced on that offer like angry Lion King Simba (adult Simba, not JTT-baby Simba). The idea was that I’d get the credit card they were offering (in both my name and my husband’s), improve everyone’s credit scores, and make the monthly payment out of the very savings account where we’d saved up, earning interest on the balance the whole while.
That worked like a charm, but something about only earning 0.75% interest on the money sitting in the savings account bothered me. Probably the “earning less than inflation” thing. So I took all the money out of the couch savings account, and threw it at my highest interest rate (5%) student loan. A month later, I was able to pull together the remaining $635.73 owed on that loan, and knocked it right out.
So now I have one less student loan payment ($79.55/month at 5% interest) and a credit card payment in its place ($88/month at 0% interest).

On the surface, it looks like voodoo trickery: I traded a student loan payment at 5% interest for a credit card payment at 0% interest, and got a free couch out of the deal! Except, no. That’s not what happened at all. That line of thinking completely ignores the months beforehand, when my husband and I spent time and money saving up for the couch/loan payoff. Don’t ever make the mistake of ignoring the hard work part of how these things work.

I’ve Gone Rogue

Wesley: I’m a Rogue Demon Hunter now.
Cordelia: Wow. What’s a rogue demon?

– “Parting Gifts” Angel

Much like Wesley Wyndam-Pryce after his unceremonious firing from the Watcher’s Council (clueless gits!), I’ve left the corporate world once again to go it on my own as an independent contractor. Though there are obvious drawbacks (paying for my own health insurance, pay inconsistency, quarterly estimated taxes), it’s the right course of action for me because of all the tasty benefits:

Paying less for my health insurance because I’m not locked into the one-and-only option my previous employer offered
Jeans and hoodies all-day erry-day
Completely setting my own schedule and changing it on a whim
Working with some of my very favorite past coworkers on their current projects
Having the amount of money I bring in explicitly tied to the work I produce
Pay security: rather than one stream of income, I have multiple now. If one ends, I can just ramp up the others the very next day and see no dip in income.

That last one is probably the biggest, for me. During an email exchange with a high school friend, he told me that he’d never be able to do the “gig economy” thing because he needs that sense of security about where he’ll be in 2-3 years. Fair enough, but for me, I like the sense of security I have about right now and knowing that should a client decide to dump me, or go bankrupt, or even if I just decide I don’t want to work on a certain project anymore, I’m not going to have to scramble to look for work or go on Unemployment. That’s what security means to me.

Heck, it’s why I can write this post in the middle of the day on a Thursday in my pajamas. Because I love being a stereotypical millennial blogger, and also because I can get more writing done if I just tell myself not to shower until I’ve finished a friggin post.

Gooooooooooals!

September 14th, 2014 was my goal date for a positive net worth, and I nailed it. I haven’t set any additional goals since then, but considering it’s been one year since that date, it’s a good time to do a check-in:

+$18,895 year-over-year (September 2014 – September 2015)

Yeah, I’ll take it. That’s some good growth.

It’s not a hugely ambitious goal considering what I’ve already achieved, but I’d like to see my net worth hit $38,901 by September 2016. That’s exactly 7 years after my all-time net worth low of negative $38,901 in September of 2009, so it would be some nice symmetry. Even better if I can manage it in 6 months (by the end of March 2016) instead of a year from now.

Got any other ideas for goals I should set right now? Throw those in the comments – I’d love to know what goals other people come up with for me!

Also, if you’d like to see how I stack up against other personal finance bloggers, be sure to check out The Ultimate List of Blogger Net Worths over on Rockstar Finance!

Hiring Employees for Your Business

Tue, 18 Aug 2015 04:27:25 +0000

There are many different types of businesses that a person can operate. Some businesses can be run by a single individual, while other businesses will require more than one employee. The truth is that, most business operations will eventually need employees if they want to remain competitive and profitable. While hiring employees is often necessary, ... [Read more...]

A Little About 401(K)

Tue, 18 Aug 2015 04:23:21 +0000

In the 1980s, pension plans became too expensive for employers to keep paying the employees that didn’t work for them anymore. As a result, they replaced pension plans with 401 (k) plans, although they were at first intended as a supplement to pensions. There are 2 kinds of 401(k) plans: Traditional (the most common): Traditional ... [Read more...]

Terms from Different Lending Authorities

Tue, 18 Aug 2015 03:50:56 +0000

Banks will often offer a service known as a line of credit. It is extended on behalf of consumers to any given worthy cause. They need to review expenses and get approved for a loan. It is an important first step on the way towards establishing a new business enterprise. Consumers need to sit down ... [Read more...]

Is Crowdsourcing a Good Way for Hiring Employees?

Sun, 16 Aug 2015 15:05:13 +0000

Crowdsourcing may seem like the perfect means to attain the perfect end. However, in some cases, it can work to one’s advantage or work against it despite the fact that crowdsourcing is looked upon as being the easiest, as well as, the cheapest of all ways to hire new employees. The answer is that, it ... [Read more...]

How to Fund and Open Your Restaurant

Sun, 16 Aug 2015 14:54:10 +0000

There are many different types of businesses anyone can try and open. One of the most popular businesses is a restaurant. Opening and owning this type of business is not easy to accomplish but if you put your all into it, it will definitely be rewarding to you in the end. Here are a few ... [Read more...]

Grow Your Business with Online Marketing

Sun, 16 Aug 2015 14:43:05 +0000

Whether you run a bricks and mortar business, or you are starting an internet business and using fulfillment services, you need online marketing in order for your business to grow. Most business owners now recognize the importance of having a website, but just having a website isn’t enough, people need to know you are out ... [Read more...]

Commercial Property Mortgage

Sun, 16 Aug 2015 14:37:31 +0000

When a business is setting up, it needs an office and a physical location to operate in. This is true for many different types of businesses including food services and many others. When a person is looking for a place to open his business, he is going to need a commercial property. Many cannot buy ... [Read more...]

Advantages Offered by Business Technology

Sun, 16 Aug 2015 14:28:05 +0000

Since the introduction of call lines and phone systems, business technology has been vital to nearly every industry. It makes contacting easier and hassle-free whenever teams are getting together. New conference calls are made simple by streamlined tech that managers may implement in an office setting. Employees should follow industry shifts to understand the impact ... [Read more...]

6 Surprising Time Zappers That Rob You of Personal Time

Sun, 16 Aug 2015 14:03:53 +0000

Businesses worldwide lose money every year totalling billions of dollars. How does this happen? This happens when employees essentially steal from their employers by claiming time and pay for work that wasn’t actually carried out. Our customers tell us that they have saved at least 2% of their wage cost by implementing a state of ... [Read more...]

3 Ways to Deliver a Flawless Customer Experience: Aligning Marketing, Sales, and Service

Sun, 16 Aug 2015 13:11:57 +0000

The business of any company depends on the customer service and connection between the departments. If customers find a disorganized approach, the company loses reputation and business. To ensure the best customer experience, it is vital to align marketing, sales, and customer service departments. Large matrix companies have to develop some more complex structures for ... [Read more...]

Web Designer San Antonio

Wed, 15 Jul 2015 13:30:58 +0000

The online operating platform for businesses and blogs is not forgiving especially for entrepreneurs who do not get the right web design. Your website is your representation to the outside world and determines the angle through which online visitors view your business.

A well designed and highly quality website is a valuable investment and may determine failure or success of a business enterprise. That is the reason why businesses opt for highly skilled and professional web designer San Antonio companies.

What will a professional designer do for you? Web designers based in San Antonio and from across the world will get your business idea and mold them into a well meaningful website that is appealing to online visitors. The best web designers in San Antonio such as Benson Design develop quality websites by considering the following points:

Website should display brand identity

The main idea behind a quality web design strategy is not to change your brand but to make it easy to identify with the already developed brand. It is the reason a professional designer in San Antonio will think of the bigger picture and create a visual language for the brands your business represents.

The best website designers develop their art on the platform of consistent brand identity. They ensure that your website is consistent with your business objectives, your business cards, your social profiles, your business colors and even your business logo. They understand that consistency with brands make the business more authentic online and more memorable for its online visitors.

Web Design should be Simple and Attractive

Another point in website design used by skilled designers is that when building a business website, it should be simple, highly attractive and quite professional. Such a website will lead to more visitors who wish to frequent and stay on the page.

Simple but attractive business sites with easy navigation not only lead online clients to stay on its pages but also create trust between the clients and the business. Professionally built business website ensures that clients are able to identify with the business and view it as a successful enterprise that will not just disappear with their finances and other vital information.

Website should be distinct from other competitors

One benefit of using San Antonio Web designers is that they know how to make your website different from the competition. Developing a unique website is an art that many designers cannot perform. The reality is that if your website looks like that of your competitors, you are probably marketing the competition without your knowledge! Let your website be unique and distinct from your competitors such that your online visitors will view it as a standalone brand.

Benefits of Styrofoam Sheets

Wed, 15 Jul 2015 13:21:47 +0000

Despite the fact that Styrofoam sheets are used in several industries, the main area where their use has been notable is in packaging of products for shipment. Styrofoam sheets are the white ‘light’ material that most often come packed alongside your goods especially electronic materials. Here are the three main benefits of Styrofoam sheets:

They have a high long time value

Due to their compound, Styrofoam sheets when used rightly will not in any way deteriorate in quality. They more often remain the same regardless of the period through which they are used. This makes them perfect for long term packaging and storage as they are sure to remain the same regardless of how long the shipment for your goods take or how long you store your goods with their usage. They only get damaged when forcefully broken.

They are water resistant

Another major benefit of Styrofoam sheets is that they are highly water resistant. Because of their water resistance properties and their buoyancy, they have been used in high seas for life jackets and life boats internal structures.

Since Styrofoam sheets do not allow moister content to pass through them, they are best for packaging materials that will be spoiled by moisture such as electronic goods. Even if moisture gets onto their surfaces, no fungi or algae can grow because they have no nutrition that support the growth of these bacteria. As a result, their surfaces remain clean and free from any smells.

Other known benefits of Styrofoam sheets

There is no doubt that Styrofoam sheets are made from polystyrene, a material with many other benefits such as being light in weight, highly durable, very easy to handle, low priced and therefore easy to purchase and use, strong and flexible, can absorb shock among many other benefits. These, among many others are the reasons why you need to purchase Styrofoam sheets for all your packaging needs.

How to Choose CFO Services in Utah

Mon, 29 Jun 2015 02:20:58 +0000

Are you a business operating in Utah County and you need a good financial consulting partner? The truth is that businesses from any part of the globe will at one point or the other need good cfo service consultants in order to succeed in the ever changing business environment.

CFO services in Utah and beyond have a primary goal of providing sound financial advice to their business partner in the line of how they can invest wisely, save on business expenditure and grow the business financial base.

How do you choose a good CFO consulting partner in Utah? Any perfect CFO Service provider will ensure that they are able to assist a business tackle given financial challenges so as to successfully achieve their financial goals and make their businesses stable.

With a good cfo service provider, managers are able to clearly get the financial picture of their business operations, avoid pitfalls and strengthen their operations. Some financial advisers will also assist businesses in estate planning and assets management. Here is how to choose CFO services in Utah County:

Choosing CFO Services: Educational Qualifications

The fact that a financial consultant is claiming to be an expert in the area of CFO Service provision does not make him one. The needed credentials are right academic papers for the job. Does he understand the nature of business operations in Utah?

Is he aware of the financial procedures governing businesses in Utah County and does he have other certifications? A financial consultant should have an undergraduate degree in related study field and his degree should be recognized and certified by known bodies like CFP (Certified Financial Planner Board of Standards.

Choosing CFO Services: Cost

When choosing CFO Services in Utah, cost is an important aspect of the matrix. You have to know how much it will cost your business to partner with a given financial service provider. The idea is not just to get financial consulting but to get it at reasonable and affordable costs.

Most of the times, CFO Services Utah are paid off through commissions paid or hourly rates on their services. However, it is wise to avoid commission based financial consultants as it is expensive for the business in the long run. Instead, it is best to work with hourly CFO Service consultants because they will offer lasting financial solutions to the business without having any vested interests.

There may be other considerations to make which selecting financial consultants such as performing a background check and getting reviews from past clients. However the two mentioned above are the most important place to begin with if you are ever going to get the best financial consultant in Utah County.