Can someone please explain to me why one can MAJOR in financial services (i.e. financial planning) at a variety of accredited universities across the United States (and in other countries for that matter), but not ONE class is focused on the fact that you will very likely (and by very likely, I mean highly likely) be entering a commission based sales job upon graduation?

Just a thought.. but somewhere along the lines, someone should bring focus onto this fact. The fact that consumers aren’t just lining up in the masses for financial planning services like they do every time Apple releases a new version of the iphone. There really should be some sort of preparation for the fact that you’re going to have to go out and actually convince people that what you do is of value to them.. emotionally and financially.

Anywho, just a thought. Someone should clue these kids in.

The truth is… 2010 was not in fact the most fabulous and financially savvy of years for me. This year was easily one of the best and worst years I’ve experienced thus far.  The year started off on an incredibly high note in that I met the man of my dreams while on a weekend trip to San Diego…  what followed then was a roller coaster of events – some of which I’m proud to say I handled with class… and others which could have been dealt with a tad bit better.

2010 – the year I had labeled early on as “The Year of Making it Happen,” quickly turned into a year of confusion, stress and change. In 2010, I…

• Fell in love
• Loaned money and lost money
• Moved. 3 times.  
• Celebrated babies, weddings, friendships and life.
• Quit a great job in LA to follow my heart to San Diego.
• Sold off almost all of my household furniture and appliances. (Craigslist is a lifesaver.)
• Made friends, lost friends and was reunited with old friends.  
• Cried… a lot. A lot, a lot.
• Continued my travel adventures with my best friend and embarked on our 3^rd Europe trip touching down in London, Ireland and Brugges, Belgium.
• Flew across the country and had my first visit to Washington D.C.
• Learned to cut ties with things and people that were weighing me down.
• Watched and cried as a friend went through one of the toughest events life could throw at a person and was and still am inspired daily by her courage, faith and strength.

I can honestly say that in 2010, I did “make” things happen. Some decisions were made rashly, and could have been thought through a bit more… but in 2010, I affected change in my life.

I stopped blogging because I didn’t know how to write without addressing the issues and events that were unfolding before me or the ones that I was becoming (sometimes unnecessarily) enveloped into. I hit a wall in 2010, and while I tried to stay as “fabulous & financially savvy” as possible… there were points when I fell off the wagon. Points when I was overwhelmed, frustrated and pissed the heck off. Being my own toughest critic, most of the time, I was pissed off at myself.

If I learned anything in 2010, it was how to be thankful.  Thankful for my friends, family and relationships and appreciative for the small things that make my life a little brighter every day. I know life is tough. Everyone has their own issues. Their own qualms. I’ve learned this year though, that everyone has a story. Everyone has a past and something that they struggle with. There is fear and sadness all around. There is also hope though. Hope, faith and thankfulness. And as cheesy as it sounds, I’m just plain old thankful for the people I have in my life and the things I’m lucky enough to experience. 

I’ve struggled for the past few weeks, on topics to write about… personal experiences to share or to withhold. I’m still not sure which ones I’ll choose to address in the weeks to come. Some are sensitive topics and some bring up tough memories, but the ones with a strong message, I’ll definitely try to incorporate one way or another.

The thing about being Fabulous & Financially Savvy is that the road is never ending. There’s always room for improvement and there is no end point. It’s a lifestyle that requires continuous work and maintenance. As much as I wish I could click my heels together three times and claim “There’s no place like being financially secure,” it’s just not an option. Just like we have to put the manual labor into maintaining our fabulous bodies (we’ll start that after the holidays, of course), we also have to do the mental and emotional work to keep ourselves financially fit.    

Though I made some poor financial decisions this year and took on debt where I shouldn’t have or let my spending get off track, those events are miniscule compared to the big picture. I made some great decisions too. I lined up a new job before I made the move to San Diego so my income wouldn’t take a hit. I set up my 401(k) at my new job right away to take advantage of my company match. I re-worked my budget and set reasonable goals for saving and spending. (I found that I was being too restrictive on myself at times. I felt guilty every time I spent too much on credit or had to withdraw from my savings… when really, my savings is there for these events in which I’d possibly need the cash.)  Relaxing and setting reasonable goals definitely helped ease the stress in my life.

With my new career, I’m not sure how much extra time I’ll have for blogging in the future. Hopefully a once a week post will be manageable for me. In the meantime however, especially during the holidays – try to relax and be thankful. Budgets are always tight at this time of year, so just remember it’s the thoughtfulness behind any gifts or presents that you give or receive that matters. Home baked treats, homemade art & crafts or even an old picture in a personalized frame will bring smiles to those you love.

Let’s begin with the facts:

• Statistically, women live an average of about six years longer than men. 
• According to the U.S. Department of Labor, 90 percent of women will manage their finances alone at some point. 
• Although the gap is decreasing, women still earn approximately 24% less than men do, resulting in lower Social Security and pension benefits.
• Contributing to this income gap, women spend an average of 11.5 years out of the workforce caring for children, aging parents or relatives.
• In 2007, nearly 60 percent of older women in America were single, with nearly 45 percent of that number being widows.
• Nearly 50% of all first marriages end in divorce.

I know. We’re still young and fabulous, so why all the depressing and morbid details above? Because it’s fact. It’s reality. Sooner or later you will contribute to EACH of those statistics so you better start facing it now.

The above info supports a fast growing segment of the industry dedicated to financial planning for women. (Because I don’t care what you say ladies, a man is not your financial plan).

Basically – just as your next-door neighbor has different financial goals and needs from you – we have different financial needs and goals than men… i.e. Tropical Vacation ≠ Season Tickets to the (insert NHL, NFL, MBL team here). The recent media blitz has resulted in the development of books, educational programs, customized budgeting software, and goal-setting all directed towards empowering women.  And guess what? We’re listening! A growing number of women are taking the initiative to increase their financial literacy and prepare themselves to manage their own financial well-being.

It’s not that you need to keep yourself on a one-woman path to a sound financial future. What the recent buzz boils down to is the need for women to become educated on their personal financial situation and begin asking themselves, “Do I know what’s going on with my money?”

Answering “no” to any of the questions below may signal a need to become more involved in your financial affairs:

• Do you know the value of your checking, savings, IRA and 401(k) accounts?
• Do you have money set aside in an emergency fund?
• Does your company offer a 401(k) match? If so, are you participating?
• Do you know the balance on your credit cards? If so, do you pay more than the minimum each month?
• Do you know the value of all your outstanding debts?

The most important thing you can do is take an active role in your financial life. Education is key.  Buy a book, do some research on the web, gather up your own financial statements and get organized. Whatever it is that makes you feel good – just DO something. Every little bit helps and each step you take towards getting yourself on track is a step towards a Fabulous & Financially Savvy you!

Why is this relevant?

I got to thinking today about all of the little things I’ve been spending money on lately and whether or not I should be making cut backs in my life for the greater good of my savings account. As the wheels were turning in my head and my thoughts were bouncing back and forth, I remembered learning about the so called “Latte Factor” ages ago when I first got into the whole personal finance realm.

The “Latte Factor” is a concept coined by personal finance guru David Bach years back. Essentially it says that each of us throws away / spends money every day on “little” things that add up over time. (No – it doesn’t have to be coffee. It could be anything. Personally, I’m addicted to Subway’s 6-inch veggie sandwich on wheat. $3.65 a day definitely adds up over time. There’s no denying that). These “little” things amount to big dollars over the years and eventually end up making a hit on our financial health.

While the “Latte Factor” has gone in and out of style over the years, it’s definitely something that our generation has struggled with. The notion that we can become millionaires by just cutting out our daily grande non- fat iced caramel macchiato just doesn’t sit well with us. A) We’re a generation that craves instant results and B) are we really going to stock away that extra $3.65 / day or are we going to reallocate the funds to some other appealing aspect of life… a dinner out, a concert, some new accessories – you get the point.

Really here, while I don’t agree with the minute details of Bach’s “cut out the little things that make you happy and save your way to millions philosophy,” I do agree with the overall concept of paying attention to what you’re spending your money on. Many of us tend to get into the habit of throwing down our plastic without as much as a thought. Becoming aware of and conscious of our spending is a must do on the road to becoming Fab & Financially Sav.

Try taking some time to track your spending over a week long period to get an idea of where you’re dishing out your funds to. Either keep a notebook handy, or be sure to keep your receipts to look over. At the end of the week, take an hour or so to review your expenditures and perhaps set some small goals or adjustments for yourself. You never know – you might surprise yourself with how little you’re spending in places you thought you were going big, or how big you’re spending in the places you shouldn’t be.

Ultimately, the first step of getting yourself into a financially healthy mindset is to get yourself organized and to become aware of your personal spending patterns. If you need help getting your finances in order and keeping yourself on track, check out the online budgeting and spending platforms that your bank offers or use a site like mint.com which will help you get your money life organized and looking fabulous in no time.

After going out for pedicures with a friend yesterday, we both did the “how much are you going to tip?” dance that awkwardly occurs in those situations. Not only do you not want to look cheap in front of your friends, but you also have a receptionist staring at you (and silently judging you) on whatever dollar amount you put down on that little credit card slip.

It got me thinking about how many times these awkward situations occur in life… At a bar, club or restaurant, of course. But there’s also cab rides, hair stylists, manicurists, make-up artists, eye brow waxings, doormen, valet parkers, pizza delivery, movers… even starbucks has a tip jar! 

So what’s customary to tip? What’s decent and what’s overly generous? I did some snooping around and found the following to be a good set of general guidelines to follow when dishing out a little extra to those who help make our lives a little less stressful and our days a little brighter:

First keep in mind that typically, gratuities should be (or are) calculated on a pre-tax basis. Using the total bill is great too if you’re looking to make things simple or give a little extra.

Second, we all know that tipping isn’t necessarily required, but that isn’t an excuse to not do it or to hold back on on it. Many people work hard and put forth the effort to make your experience with them a good one and most of the time they count on that gratuity to support themselves.

Third, use the info below when you’re a little uneasy on how to proceed:

Restaurants / Bars / Clubs / Nightlife

Wait service (sit down): 15-20% pre-tax

(unless your service was horrific or your server sneezed on your food – it’s a bit tacky to tip less than 15%)

Take Out: 0-10% if you feel like making the person’s day.

Delivery: 15% of your bill

Bartender: The standard $1 per drink or 15-20% of the tab

Restroom Attendant: $1-$3 depending on services

Valet: $2-$5 (This is YOUR CAR after all… not somewhere I’d recommend skimping).

Travel

Skycap: $2 first bag, $1 per additional bag

Doorman: $1-$2 for carrying luggage, $1-$2 for hailing cab

Bell hop: $2 first bag, $1 per additional bag

Concierge: $5 for tickets or reservations, $10 if hard to get; no need to tip for answering questions

Taxi: 10-15% plus an extra $1-$2 if helped with bags

Salon / Spa

Hair Dresser: 15-20%

Manicurist: 15-20%

Facial, waxing, massage: 15-20%

The above are just some general guidelines. Obviously, go with your gut and use your best judgment when in doubt. If your hair dresser performed a miracle and corrected a DIY color job gone wrong – feel free to give her a little extra to show your appreciation. If you got shoddy service and were taken on an extra 10 minute drive by the cabbie for a trip down the block, then it’s your prerogative on what if anything to leave.

No matter what though, definitely keep in mind that these people are working hard to make your day a little easier. Rewarding them on a job well done can only make both your and their days a little brighter.

Between relocating (again)  – this time back to Pasadena (never should have left in the first place), getting myself involved in a few too many extracurricular activities and trying to keep myself on the fast track to success for my career… I think I may be just a tad overwhelmed at this point. Seriously, my google calendar has never seen so many blue rectangles of blocked out time. (Thank GOD for my google calendar though – who knows where I’d be without that and my blackberry).

I wish I had some pearls of wisdom to impart at this point, but I don’t. I’ve had tons of ideas for posts over the past month and they’re all sitting very nicely in saved list on my berry, but unfortunately the blog has taken a back seat until I can get a handle on all the other chaos wrecking havoc in my life.

The big move is happening this weekend and hopefully I’ll be blogging again shortly thereafter. Until then, feel free to check out some of my other favorite blogs to get your fix:

http://carrieonthecheap.wordpress.com/

http://work-girl.blogspot.com/

http://www.wellheeledblog.com/

http://moneymaus.blogspot.com/

http://www.punchdebtintheface.com/

http://www.fabulouslybroke.com/

http://www.prettyandpoor.com/