Dare we share a little secret? A list of financial terms is this year’s raciest reading material. 

Let us explain: sexiness is about confidence, and nothing boosts your confidence like knowing your stuff and taking care of business. To have financial confidence is to be financially literate; you owe it to yourself to know where your money is going and what it all means (if you don’t believe us, read this article on making your finances a daily thing).

We asked Laurie Girsky and Cindy Golub of G Squared Advisory, a financial planning firm especially for women, to put together a list of ten financial terms that every woman should know. You’ll feel confident and capable as you become familiar with these concepts–and we dare say, with your financial empowerment, that you’ll feel sexier too!

Knowing these ten financial terms will make you feel sexy

Over the last couple of weeks, a major women’s health issue has been one of the top stories in the news, consistently making the national headlines–but it seems the conversation has been less about how this issue pertains to women in America and more about how it pertains to American politics.

Birth control legislation: the background

In brief, the national discussion is over whether or not legislation will require most health insurance plans to cover birth control for women, including those insurance companies utilized by religious institutions (though the religious institutions themselves would neither be required to provide or subsidize birth control to women).

To pull a quote from an article in The New York Times, Illinois Representative Joe Walsh insisted that “This is not about women. This is not about birth control. This is about religious freedom.”

The thing is, whether America likes it or not, it is about women, and women have unfortunately been largely excluded from the conversation. New York Senator Kristen Gillibrand brings to light how male-dominated the conversation of women’s birth control has been in this short video:

Incredibly enough, a hearing last week pertaining to this issue featured a panel made up entirely of men, indicating that men would play the leading, if not unanimous role in ultimately passing legislation that will affect an entire nation of women.

Beyond birth control legislation: the need for women’s voices

With this exclusion in mind, it becomes clear that there are bigger issues at stake here than birth control. The take home message, articulated by Senator Gillibrand, is this:

“We need more women’s voices in our decision-making process. We need more women at the table in government and in business. When women are at the table, they bring a very different perspective to the same problems, a different set of solutions, a different approach, and I think at the end of the day, the outcomes are better when women’s voices are heard.”

Photo source

To celebrate Valentine’s Day, we hosted our first Twitter party. Diving into the vital yet seldom discussed topic of money and relationships, we turned to Twitter to dish the details of our financial love life using the hashtag, #ourmoneylove.

Over 70 contributors joined in, sharing tips, exchanging life experiences, and seeking the advice of our on-board expert, Brittney Castro of Financially Wise Women.

Who handles the money in your relationship?

To start out the discussion, we asked everyone about who handles the finances in their relationship. Jen of An Everyday Family, said, “I handle all our finances – my husband hates doing it while I don’t mind–I like seeing where the money goes.” Another answered, “My husband (he’s better at numbers)!”

Some let us know their relationship was a give and take, but we heard lots of the only-one-person-does-it-and-I-wish-it-wasn’t-like-that sentiment. Letting the family accounting fall on one spouse is tempting. However, Castro, also a certified financial professional, expressed the value of equality in relationship money management. She explained how to be open about money with your partner.

How to talk money with your spouse

“Try team huddles – start with talking about your money past, money values, and short-term financial goals,” Castro tweeted. She urged women to fund their own retirement accounts even if they do not work. She also suggested maintaining joint and separate accounts to achieve a desired balance of shared responsibility and financial independence.

The conversation drifted to wondering what purchasing point calls for discussion. Some agreed that anything over $200 calls for a check-in chat. The overall consensus was “depends on the item;” the majority expressed the notion that staples like groceries and clothing aren’t necessary to be contemplated beforehand or rehashed, but a splurge (like electronics) is. One contributor tweeted that it’s not about the amount spent but rather the agreements made and how a couple honors them.

Fighting over money (Hey! It’s okay. Happens to the best of us!)

From price points, the Twitter chat shifted to money fights. Some shared that their money-related arguments revolve around their state of financial lack instead of overspending occurrences. But the underlying culprits for financial disputes mentioned were lack of involvement and the stress-inducing economy. According to Castro, money arguments can’t exactly be prevented, but the potential for fewer instances increases when couples talk freely and frequently about money.

While chat contributors recognized that our nation’s high divorce rate reflects the need for improved spousal financial communication, we didn’t dismiss the supreme worth of staying connected through meaningful, enjoyable (and cheap!) dates. The outpouring of suggestions for low-cost romance ranged from funny (go to Costco on sample day) to sweet (sit together at home by the fireplace or with a Netflix movie).

Thanks to all who shared insight and experiences on love and money in our first annual Twitter party! For those of you who missed it, explore the rest of the discussion through the hashtag #ourmoneylove.

Our special guest at the Twitter Party was Brittney Castro, a Los Angeles CERTIFIED FINANCIAL PLANNER™ practitioner and creator of FinanciallyWiseWomen.com. Brittney Castro, CFP® helps create a financial road map for a woman’s different goals in life. She also educates clients on different options, enabling them to make smart decisions. She has a passion for educating individuals on financial topics and speaks for various groups and organizations. Brittney Castro is available for speaking engagements, radio and telephone interviews, and other media appearances. Connect with Brittney at www.FinanciallyWiseWomen.com. Brittney Castro is not affiliated with GoGirlFinance.com. Brittney A. Castro is a registered representative with and securities offered through LPL Financial, Member FINRA/SIPC. California Insurance License #0F33895.

Susan Sokol is one of those rare people who knew what she was passionate about from a young age. That passion was fashion, and it has led her to some of the most recognizable labels in the world—Calvin Klein, Donna Karan, Michael Kors, and Vera Wang.

Today, she is the President and COO of J. Mendel, a brand that she has transformed since she took the helm in 2008. Not only is Sokol one of the most successful women in the fashion industry, she is also a mother, and an inspiration to aspiring fashionistas. From organizing prom parties to mentoring this writer on how to follow your passions, Sokol is an indefatigable role model for women. In recognition of her multifarious achievements–including and especially her efforts in the fight against women’s cancers–she will be awarded City of Hope’s Spirit of Life Award this May. We were lucky enough to sit down with her to discuss the evolution of her astounding career, and what she’s learned on her ascent to the top of her industry.

You have four decades of experience in the fashion world. I wonder how you got started?

I started right after college at Calvin Klein, in the early 1970s. At the time, it was a start-up business. I ended up spending 23 years there. It was such an incredible experience because I learned every aspect of running a fashion brand, from product development, to merchandising, to sourcing, to marketing and public relations, to sales. I learned how to expand a business globally.

Eventually, I grew to be the president of the Calvin Klein Collection, which was and still is the umbrella for the entire brand. It set the tone and direction for everything the company did, and because of my role, I was an integral part of every expansion. Through it all, I worked very closely with Calvin Klein and Barry Schwartz, who were mentors to me.

Why did you decide to leave the brand in the mid-1990s?

I hadn’t taken time off since a very young age, and I was really burned out. I had a family, and I wanted to spend more time with them. Even when my son was born, after four weeks, I went right back to work.

How long did you stay out of the workforce?

I took about a year off. During the time, I pursued a lot of personal interests, which was a lot of fun. When I came back to work, I had a lot more perspective on life, and what I wanted to do.

After returning to the workforce, you held very influential positions with several other design houses, including Michael Kors and Vera Wang. How did you end up at J. Mendel in 2008?

A friend who is a stylist introduced me to Gilles Mendel, the heir of the line, and we really hit it off.

After all of your years working in fashion, how is J. Mendel different?

It’s such an incredible brand, with such a pristine and luxury positioning. Although its heritage stems from fur, the company introduced ready-to-wear in 2002. It was a natural transition from unapologetic luxury to beautiful evening gowns. We’ve really been evolving in these challenging economic times, and have adapted by expanding our product offering and the price range of our lines yet still remaining luxury. More than anything, J. Mendel is a house of emotions. You sense the women in the clothing.

Did you always know that you wanted to work in the fashion world?

I’m a native New Yorker—I grew up on Central Park West and 86th—and from a young age, I was surrounded by retail. My father was a textile merchant, and some of his best friends were garment center people. I was always surrounded by fashion at home, but I also had a real love for clothing. I was glued to fashion magazines, and I loved to dress up. When I went to school, I studied English, and I thought that I was going to be a teacher. But fashion was my first love, and it’s where I ended up.

How has it been balancing such an amazing career with being a mother?

I started my career a long time ago. My son is 29, and I have a stepson who was 13 at the time when I got married. When I became President of the Calvin Klein Collection, I was a brand new mother. I found myself really conflicted about it, because I’m the type of person who gives 1,000 percent to everything I do. I was so torn for so many years trying to balance work and my family to my standards.

But I’m so grateful I kept my career. I have an incredible partner in my husband, who is so supportive, and helps me to balance my life. I eventually learned to prioritize quality over length of time. If I came home at 7pm, I would spend the two hours with my son before he went to bed really focusing on him. We would do a project together, or just spend time reading.

Have you had to give up a lot to be so successful?

It’s funny, but I find that I have to give up a lot more now, later in my career. I have to attend more events and spend more time at work. I’ve never been busier. But when I was a young mother, my priorities were very clear, so in some ways, it made it easier to manage my time. And having a child never felt like giving anything up.

What would you have done differently?

In retrospect, it might have been easier to have a second child. Then my son would have had a companion to spend time with. But I actually wasn’t able to get pregnant after my son was born, so we had to accept the situation for what it was. I feel very lucky to have the life I’ve led, and I don’t think that my son lacked for anything. We were always the type of parents who made sure that all of his friends felt welcome at our home. We had the senior prom party at our house in the Hamptons, for example. However, even though it’s been tough at times, if I had to do it all over again, I’d do it the same way.

Do you think your career has helped you to be a better mother?

My career has definitely defined me as a person. When I was a new mother, I struggled with that. I wanted to be the good stay-at-home mommy that all of my friends were. But my husband would always tell me that so much of who I am is what I have done with my career. And it has defined what kind of mother I am as well. It got me involved with my son’s school, whether it was being the class mom, or organizing a bake sale, or fundraising. I knew how to do all of this because I knew how to run a business, so I could apply my skills to mothering as well.

If nothing else, it’s made me a really good role model for him, because through me, he saw what it meant to have a great career with a balanced life. He also learned how to really respect women, which is an important gift that women of my generation gave to the sons that we raised.

Was there anyone who has mentored you along the way, and in turn, have you mentored many people?

Calvin Klein and Barry Schwartz were probably my greatest mentors, because I was with them for so many years. They taught me everything I know about running a business. Today, I absolutely try to mentor as many women as possible. Not only do I speak to people outside of my field, but I also try to create a work environment where other women—and men—feel comfortable approaching me with problems and questions. It’s not who you are as an individual that makes you successful. It’s how you work within a group. It’s the people whom you decide to surround yourself with. I try to hire people who have strengths that I don’t have. I want them to be comfortable, and happy. I want them to be able to ask me for advice. I try to be understanding, and to give them the best advice I can based on my years of experience.

Being that you’re such a successful woman, have you always been proactive about your own financial well-being?

Absolutely. I have always been involved in the decision making about our investments, our estate planning, how we control our destiny as a family. I’m the kind of person who learns along the way. If I need to figure it out, I teach myself, on my own terms.

What advice would you give to women trying to learn more about financial literacy?

What I would say to other women is—ask the questions. Don’t be afraid. If you don’t understand something around finance, figure out how to navigate the road map.

When I first got started at Calvin Klein, it was a start-up, so I learned from the bottom up. But I got so far ahead because I really made sure I understood how the finances of the company worked and I asked questions when I didn’t understand something. I didn’t want to just sit back, and wait for someone else to answer the question. Women need to take the initiative, and be proactive about their own financial well being.

What advice do you have for young women?

I’ve always been passionate about what I was doing in fashion, ever since a young age. But more than anything, no matter what industry you’re in, if you want to be successful, you have to work hard. Work ethic is so important. If you work hard and feel passionately about what you’re doing, you’ll work it out.

Are you ready for a little Valentine’s romance, GoGirl style? Join us for our first Twitter Party on Thursday, February 16th.Valentine’s day is about more than roses and candy; it’s about giving your relationship some special TLC.

What better reason to connect with your significant other over some oh-so-personal topics – like your financial personality – than in honor of the international day of love? We’ll be talking cheap dates, financial secrets, and, of course, financial compatibility.

Oh yeah… and there will be prizes. Including some fabulous jewelry and American Express gift cards.

When: Thursday, February 16th, 2012
Time: 9-10PM EST
Party Hosts: @GoGirlFinance and special guest @Brittneycastro from Financially Wise Women (she’s an expert on money and relationships!)
Twitter Hashtag: #ourMoneyLove

Keep the romance going all week – please join us for a little post-Valentine’s day loving. We’ll show you that personal finance can be sexy!

Add your name and Twitter link below to be eligible to win!

Finding a job, especially in today’s economy, can seem overwhelming. But by investing the time in learning how to use social media effectively for your professional needs, you can make networking a little easier. After all, according to a 2011 survey conducted by Jobvite.com, 1 in 6 workers used online social networks to find their last job. With a further 1 in 3 workers claiming a professional or personal contact found them their latest position, it’s time to think about how your Facebook profile can work for you.

Why use social media in your job search?

Networking has long been considered the holy grail of job hunting success (for more tips on networking, see “Networking Really Works”). Social media allows you to leverage your network rapidly, while making it easier than ever for others to help you in your search. Prior to the social media revolution, your cousin’s girlfriend probably  would never have known you were looking for work; now, she not only knows but can refer you to the perfect opening in her company seconds after she hears of it.

Using social media for an effective job search: 3 great tips

Create a Professional Profile: Before you start sending out your social media feelers, make sure potential employers will see your good side. Make one professionally-attired photo your avatar in all your social media outlets – at least the ones attached to your real name! Make sure your Facebook feed isn’t a long list of college buddies detailing their recent bar exploits and consider choosing privacy settings that will keep your Flickr account or your Facebook albums, well, private.

Use Your Network: Let people know you’d like their help. Although it can be intimidating to ask people for their time and energy, posting an update or tweeting to all your followers can feel like less of an imposition. You still need to be clear and specific, explaining exactly what you’re looking for: job leads in your specific field, career advice, or introductions, for example.

Expand Your Network: A quick way to get an inside line on a company is to follow the company or an employee via Twitter. You can also search through your network’s network to find useful contacts and then ask for an introduction. Look through alumni groups for a person who is more advanced in your field; having a natural connection like the same alma mater will make that first contact much easier – and more likely to bear fruit.

Although all the standard networking rules apply, such as politeness, clarity, and specificity, using social media will make your search go further, faster, and you can do it all in your pajamas – which, let’s be honest, is absolutely the best way to find a job.

Did you know it’s social media week? Discover the impact of social media – check it out! http://socialmediaweek.org/

To inspire the next generation of female would-be innovators, the Dare2BDigital Conference began challenging girls to understand the excitement and everyday use of math and science. The conference started on Sunday, February 12 at eBay’s San Jose campus. It is continuing virtually today as “Dare2BDigital Monday,” encouraging participants to spread the word online and in their schools and communities.

In honor of Dare2BDigital Monday, we’re featuring Sheryl O’Loughlin as a model for female innovators everywhere. Her path to success and satisfaction demonstrates that no matter in which field you work, blending the personal and professional aspect of your life can help you innovate and boost your career.

Blend your personal and professional lives for true innovation

During her 10 years at Emeryville-based Clif Bar & Co., Sheryl, an avid mountain biker, skier and marathon runner, developed the Luna Bar, the first female-focused energy bar. The Luna Bar was more decadent tasting and less caloric than previous products, and filled with female-specific nutrients.

“Before the introduction of Luna [in 1999], women didn’t participate in the energy bar category,” Sheryl says. “Luna was inspired by the women at Clif Bar who wanted a bar that fit our own lives.” Despite criticism from the media and some employees, the brand took off. It was a $10 million business the first year and $70 million business three years later. The effort raised Sheryl’s profile and, in part, led to her promotion to CEO. That’s career-boosting product innovation borne from personal experience.

Learning to bridge the personal and professional: It’s not easy

Sheryl hadn’t always bridged the personal and professional to solve problems at work. “I compartmentalized my life. My love of adventure, debate and collaboration and my passion for the outdoors and for my family stayed at home,” she says. At work, she was a cooler, more robotic version of herself, and game-changing breakthroughs were few and far between. Without feeling comfortable in utilizing her personal experiences to influence her work, product innovation was difficult.

She learned how to harmonize her personal and professional life from Clif Bar founder Gary Erickson who conducted her job interview with his three-year-old daughter climbing onto his lap. “I had never seen such a whole and integrated person at work,” she says. “Sitting at his desk, Gary was not only the founder and owner of the company, he was also a loving father, a husband, an athlete, a baker, an inventor, and a happy guy.”

More on the power of integration and product innovation

Sheryl brought her belief in the power of integration into her post-Clif Bar endeavors. She continues to innovate and has since co-founded The Nest Collective, an organic food company for babies and children, of which she is the Founding CEO alongside co-founder and CEO Neil Grimmer.

Sheryl O’Loughlin is Executive Director of the Center for Entrepreneurial Studies at Stanford University, Co-founder and Founding CEO of the Nest Collective and Former CEO of Clif Bar & Company.

Photo: http://www.treehugger.com

Maintaining a good credit score isn’t rocket science; you just have to know what to do and what not to do. Keep in mind that while it takes time and consistency to build a good score, all it takes is an isolated slip-up to undo years of good credit habits. And a low credit score can impact your ability to get a loan, buy a home, or even rent an apartment. To help you avoid this easily avoidable scenario, here are five financial myths that will actually lower your credit score.

Myth #1: You have a grace period for credit card payments

It may be fun to show up fashionably late for a party – but don’t make this a rule for all facets of your life. Missed payments can reduce your credit score by 100 points or more! When it comes to credit card payments, make certain that you have allowed for “wiggle room” of at least one to two business days for the payment to arrive by the statement due date.

Myth #2: If you have too many credit cards, you should close a few

If you find newer credit card products with a more competitive rate or rewards plan than your current card offers, call your current card issuer to potentially negotiate new terms before you walk away. Don’t be shy; they want to keep your business! The longer you can hold a card in good standing, the better it is for your credit score, so weigh your options well.

Myth #3: You should charge everything on one card to get great rewards

30% of your credit score is based on what you owe, compared to your available credit. If you charge everything and pay the balance in full each month to take advantage of credit card rewards (which seems like a great idea in theory), you may be unintentionally lowering your credit score. Why? Because to a lender, balances that are close to the credit line translate to a lack of cash flow, and appear that you are “over utilizing” credit. In turn, your credit score is lowered. Know the credit limits on all your cards, and how close you are to them. Offset the impact by using two major cards each month, even if you only charge a small amount to one of the cards, and pay it in full at the end of the month. The use will ensure that your largest available credit lines are active and open, and keep your “utilization ratio” healthy.

Myth #4: If you find you’re overspending, cut up your credit cards

This may come as a surprise, but getting a credit card “out of sight and out of mind” by cutting it up, not activating it, or throwing it in the back of a drawer is not a good financial move. Doing so doesn’t mean that the card is off your credit report. Your credit score is partially calculated by how many open lines of credit that you have. When you forget about a card, you’re more likely to lose track of the account, and apply for new cards—which will ultimately lower your score.

Myth #5: You should absolutely refinance your home when interest rates are low

If you’re rate shopping in order to refinance your home, make sure that you limit the amount of hits to your credit report by speaking to the mortgage lender about all the details of the refinance offer before you allow them to make an inquiry into your credit. If you know your credit score (which you can and should access for free each year with a site like annualcreditreport.com), the lender can estimate what your refinanced payments will be. Only move forward with the credit inquiry if you are certain you are comfortable with the terms of the refinanced loan. Likewise, consider the length of your mortgage loan before you refinance. Because history matters in your credit score, remember that the refinance will essentially “wipe” the mortgage loan off your active credit. Losing a loan that you have had for ten or more years can dip into your credit score.

By the time children enter high school, their money habits have already been formed (Reuters). As a result, it’s critical to start their financial learning while they’re still young, just as you would want to establish other good habits. There’s no right or wrong way to begin introducing them to financial education, but a thought occurred to me while watching my two young boys: it’s evident how connected–ok, at times obsessed–they are with technology. When I was their age, all I had was a TV and a Speak and Spell.

Kids and technology: don’t fight it

So, I decided to work with their technology addiction, and I did some research about apps and sites that teach children about money… and I was astounded how many were out there! Some integrate lessons about saving and spending into sports or space games, while others are geared toward older children and how to manage their allowances.

The best money websites and apps for kids

Most of these apps and sites are better suited for an older elementary child-high school, but if you are playing with a younger child it is a great opportunity to start discussions about basic financial concepts. Here are ten great app and web resources that I discovered (and had my boys test the websites!) that can help you educate your financial whiz kid:

1. P2K Money (free): an app that helps track kids’ allowances by creating a wish list with images and teaching them about budgeting and saving.
2. Kids Money (free): an app that lets kids plan for a long-term expense, guiding them through long-term planning and saving–something that I could even use!
3. Save! The Game (free): Sponsored by Mass Mutual, it teaches kids about Needs vs. Wants. The app partners with the Time for Kids website and a game called “Right on the Money.” The app also has a 3D interface. The goal of “Save!” is to collect virtual money while avoiding the “wannas!”
4. Bank of Mom ($1.99): an app that gives kids a virtual credit line; they can then take “withdrawls” out from “Mom” who controls the bank. The app can track accounts, deposits, withdrawls, tv time, activities, etc.. This app is best suited for older children.
5. Allowance: Your Pocket Money ($3.99): An app that let’s kids deposit, withdraw and manage their allowance. As a parent, you can add up to five children within the program, which makes it easy for you to manage their allowances as well!
6. Planet Orange (free): An interactive, fun web game for kids grades 1-6; the game takes place in space and teaches the importance of earning, saving, spending and investing.
7. Savings Quest (free): A game on the web that allows you to play a character who has to save money by budgeting and spending; teaches you how to save for things you want while paying for what you need.
8. Rich Kid Smart Kid (free): This website provides financial lessons and games for kids starring two mice as the main characters; for grades K-12, and divided by grades.
9. H.I.P. Pocket Change (free): This is the U.S. Mint’s website for kids. It features games, art activities, and puzzles, as well as a history of the mint.
10. PBS Kids Mad Money Game (free): teaches kids about earning, spending, and saving their money, while creating goals along the way.

My youngest is almost four so most of these apps and sites were a bit over his head, but my six-year-old gave them a try. He seemed to enjoy Rich Kid Smart Kid the best because it was broken down by age group, which made the activity a bit easier to understand. All in all, in addition to feeling good about exposing my kids to good financial habits earlier rather than later, I had fun playing along–so sit alongside your child and enjoy!

Jillian Lundberg is a former teacher who is now a full-time stay-at-home mother to two boys, ages 6 and 4.

Last week, I took an amazing yoga class.  I hadn’t been to my favorite yoga studio, Laughing Lotus, in a while and I was waaaaay overdue for some serious downward dog!

By the middle of class, I was my usual sweaty mess.  And starving! So by the time class was winding down, and while the rest of my classmates were chanting “Om shanti shanti shanti” I was doing what I usually do during the chanting. I was planning lunch.
I finally decided on noodles, and I knew exactly where I could get my grubby paws on some. Here’s the problem: I really really really wanted a heaping plate of greasy generic pad Thai.  But I knew that trillion-calorie dish would erase all the sweaty poses I just endured in yoga.

So I compromised.  I decided to get the deep-fried shrimp fritters appetizer and follow it with the “healthy plate”- steamed greens and tofu with brown rice and a side of black bean sauce.  Pretty bland and a far cry from the slop of pad Thai I really craved, but it was a good compromise.  I could satiate my greasy craving with a few bites of shrimp fritters but stay on track with the healthy plate.  And with enough hot sauce, it wasn’t so bad!  Plus at $7.50, it was a bargain!

This idea of compromise can also translate to our personal finances. So many times we want to indulge—in a mani-pedi, facial, and back massage; a fancy dinner with cocktails at the bar to start, followed by a five-course meal; the sleek dress at the Madison Avenue boutique that makes you look like a million bucks; or a new haircut, color and highlights with a deep-conditioning treatment thrown in at the fancy hair salon. How many times have we pushed doubts aside and given in, reasoning, “I deserve it!”?

Once in a while, we should splurge on ourselves. A little special treat can lift our spirits, boost confidence and can sometimes inspire real change. But it’s important to balance a splurge with a saving, otherwise, before you’ll know it, you won’t be able to afford to splurge in the future!

Here are some quick and dirty tips to help you afford to live in the luxury you deserve:

-Plan ahead. If you’re hankering for some red meat and cocktails on the weekend, plan it ahead of time with friends and make it an event. Then, for the rest of the week pack your lunch and go easy on the outings.

-Stagger the beauty services. Instead of getting your nails done every week, make it a monthly thing. Other weeks, invest in a couple of cool nail shades and face masks, and give yourself some at-home beauty treatments. That could also be a cheap night-in, catching up on “The Train Wrecks of Beverly Hills.” (My guilty pleasure.)

-Make room for necessities. Keep track of pricey necessities like dry cleaning, gifts for a special birthday or when guests come into town. Make sure to cut back on extras to pay for your big expenses, and have cash saved for emergencies like car maintenance and repairs.

-Add gifts, weddings, birthdays and holiday expenses to your monthly budget. Be aware of those costs and cut back when you can. When establishing an annual budget, make sure to look ahead to those months during which you may spend more—like December or a big birthday month—and make allocations to save during preceding months.

-Lunch specials can be AWESOME!  Same with Groupons, Living Social and other coupons. But don’t go nuts. Take advantage of deals, especially for your favorite restaurants and make that your big splurge.

-Decide on a cut-off time. If you live in a city with public transportation, use it as much as possible. It’s cheaper and in many cases, a subway ride can get you to your destination faster and with less hassle (and you don’t see your life flash before your eyes during some crazy cab rides!) But give yourself a cut-off time so that if you’re out late, you can take a taxi home.

The important thing is to be aware of your present and future expenses and plan for them. Make sure your priorities—paying your bills and saving—are in check and then compromise on the splurges. It will make you look good and feel good too!