I first started thinking about a new car last summer, but a big reason for the delay is my dread of going to car dealerships! Fortunately, the process was remarkably smooth this time. First, I sent out an electronic request for quotes to about 8-10 dealerships via Edmunds.com and directly emailed a dealership’s Internet Sales department. I received about 4 quotes, everyone else wanted to jump on the phone to “understand what we really need.” Then we did some market research: I visited TrueCar.com to see the average price paid in my area and we searched on forums for out-the-door prices in our little corner of the greater SoCal region.

Our research indicated that $19,200 out-the-door is an extremely good price, $19,500 is a fair price, and $20,000 is on the high side. CB and I both agreed that we value good customer service and a smooth buying process more than squeezing the last $200 out of a dealership, and we decided that we’d be satisfied if we can drive away for $19,400-$19,600. (We also looked at a CR-V, but ultimately it was a little too much car for us).

The lowest internet quote I received was from a conveniently located Honda dealership – not the closest, but close enough that we can go after work on the week days. We first visited on a Saturday and test-drove the Civic. Then we came back 2 weeks later to test drive it again. The two salespeople we worked with were gracious, informative, and didn’t try to push once we made it clear that we were only interested in the base model.

When the time came to do the paperwork, there was no changing of interest rates or sneaking in more charges for accessories or features we didn’t agree to. We may have been able to shave 1.5%-2% off the interest rate if we went with an outside lender, but we were a little lazy and so we were willing to pay $100 for the convenience of having the financing done at the dealer.

If you are in SoCal and want to know which dealer I used, email me. Based on my experience so far, I’d recommend them, and definitely the two folks I worked with from the Internet Sales department.

Have you purchased a new car lately? What was your dealership experience like? 

Copyright 2010 Meet Our New Baby, er, Car! is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

My dream NYC AirBnB! click on picture to access this posting

I first used an AirBnB stay in May 2012, and since then have stayed in AirBnB properties in five cities. Often times an AirBnB provides a helpful (and cheaper) alternative to staying in hotels, especially if you are traveling with family. One of my best travel stays, in fact, was at a 2-bedroom AirBnB loft apartment that I got for $90 a night.

But even though AirBnB renters may face some risks and inconveniences that come with staying in someone else’s house vs. a hotel, AirBnB landlords (or “hosts”) arguably can get in bigger trouble. A New York judge just ruled that AirBnB is illegal for stays less than 30 days. The landlord in question was fined $2,400 (down from an initial judgment of $7,000 in fines).

This isn’t limited to New York. According to the CNET article:

As Airbnb continues to shake things up for the hotel industry, it’s increasingly running into issues with the law, particularly in areas where the law is not clear cut. It’s not just in New York — officials in the company’s hometown of San Francisco are concerned about property owners potentially using its service to get around local tenant protections and land use codes.

I am considering taking my parents to a trip to the East Coast next year, and had planned to stay in AirBnB apartments. But now I am a little hesitant to stay in AirBnB in Manhattan. I don’t want to deliberately break the law… Furthermore, this ruling might make many AirBnB landlords gun-shy and take down their postings.

Have you rented out your house with AirBnB? Are you worried about the legal liabilities? 

Copyright 2010 AirBnB / short-term rentals ruled illegal in New York is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

The longer answer included not-small-amounts of frustration and doubt, much of which I’ve hesitated to write down. But this heartfelt post from Cassie of Tales From the Trenchs on being ready for a lifelong commitment before your partner really struck a chord with me, and reminded me of what it feels like to love someone who loves you but isn’t quite ready to take the marriage step.

Long-time readers will know that my husband and I met in high school and dated pretty much continually since. I first started thinking about getting married a couple years after college graduation, at which point we have been dating 7 years. CB was less ready than I was. For a while I thought that CB didn’t propose because there was something wrong with me. It was a topic of conversation that brought up a lot of hurt feelings and made me felt really unwanted. Finally, as I was deciding on my graduate school applications, I put on my big-girl pants and decided no more tears, no more inner turmoil. I know what I want, he knows (or should know) what he wants, and we just have to figure out if what we want aligns.

One night I sat CB down and said something along these lines: “I love you and I want to build a life with you, which for me means getting married. If you do not feel this way, that’s OK. But you need to be fair to me and let me know so that I can make my decisions accordingly. If you do want to build a life with me, then we need to be talking about engagement within a year.” I believe I even rehearsed this little speech.

What I tell my girlfriends who come to me with tales of woe on why they aren’t engaged is this: first, you have to decide: are you willing to stay in this relationship if it never results in marriage? And if the answer is no, then second question: how long are you willing to wait? There is nothing wrong with NOT getting married. The problem arises when there is a mismatch between the two parties on what they want. Also, laying your cards on the table isn’t giving an ultimatum. You have value, your feelings and desires have value, and your time has value. Your partner should respect all of these above, even if what he/she wants may not necessarily coincide with what you want. This is what “laying the cards on the table” should get you – honesty and respect.

(Also, don’t believe there is something wrong with you if you want to get married. Wanting to get married doesn’t mean you are not a feminist, doesn’t mean you are too old-fashioned, doesn’t mean you are unenlightened.)

We had the “do we want the same thing” conversation in April 2010. He proposed in April 2011. The funny thing is that since we have been engaged, and then since our wedding, CB has been full force “in it to win it,” marriage-edition. He has been supportive through a cross-country marriage (our first year, no less), given me time when I needed to focus on job recruiting, and demonstrated willingness to move to wherever my job lands us. And I really believe that we got here because I was honest with myself and what I wanted, and I was honest with him.

Copyright 2010 How I got engaged / (or what if one person is ready but the other is less so) is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

Are you in debt and want to get out of it? If so, you are not alone. Debt has become an international phenomenon. After all, over 70% of American household carries non-mortgage debt in 2012, and over 50% of UK households does so. Most of the time, debt isn’t incurred in one day, and so to get out of debt can take a lot of time and determination. If you are committed to become debt-free, however, read on for a few ways that it can be done.

Use cash only:

Many debt counselors advocate a cash and the envelope system where card is completely eschewed. Under a cash-only system, a consumer will set aside the cash they expect to use throughout the term (say, a week or a month) at the beginning of that term. By avoiding credit cards, it’s much harder to get into consumer debt. You can only spend what you have! Many bloggers have advocated using cash only if you are not sure you can control your spending with credit. If you can’t jump to cash cold-turkey, try a month of cash-only spending and see if the method helps. Using cash only also forces you to save up for bigger purchases instead of just handing over your credit card. This self-discipline will be vital to prevent yourself from slipping further into debt.

Cut up your credit cards:

If you already have credit cards and want to use them less, you can physically cut up your credit cards. This ensures that the amount of credit on the card is still available – have a low credit used / available credit ratio impacts your credit score in the U.S. – but also guards against spur of the moment purchases. Do you think cutting up cards is a little too drastic? If so, at least remove credit cards from easy access. For example, some people keep unused cards in a special box at home and do not carry them with on their persons. This way, they still have that line of credit, but won’t be tempted to whip a card out when they see something they want in the window display.

Restructure your debt:

Aside from the givens of setting a budget, cutting back your expenses and increasing income, you can also look into restructuring your debt and renegotiating interest rates with your lenders. If cutting up credit cards and using cash aren’t enough and you really need help with debt, there are debt management companies who may be able to work out a plan. But remember – look over the fine print carefully and make sure you understand your obligations under any plan, and most importantly, make sure you aren’t falling into a new cycle of indebtedness as you work to overcome existing debt. 

Copyright 2010 Debt Solutions is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

One of the best piece of advice for would-be car buyers is: do not buy more car than you need. Auto costs are a big part of many Americans’ budget, and if you purchase a car you can’t afford, you can drive yourself into the poorhouse (har har har, pun intended!) I thought I was pretty practical in that regard, but I can feel my heartstrings tugging me to something that’s just a wee bit outside of my budget.

After two days of car-shopping that resulted in no car purchased, CB and I are gearing up for more dealership visits this weekend. We are going back to a Honda dealership to test drive the 2013 Honda Civic sedan again, but I’ve been eyeing the 2013 Honda CR-V as well.

Guys, I need you to talk me OUT of the Honda CR-V.

Why Civic?

• According to my research, the Civic sedan in the LX trim will probably cost me $19,500-$19,800 out the door. The CR-V, however, will cost in the neighborhood of $25,000 out the door. We’ve crunched the numbers – and CB and I have enough money in the bank to pay for the Civic in cash or to finance only $2,000-$3,000.
• The Civic has a better gas mileage than the CR-V due to its smaller engine and lighter weight. That will really come in handy if I have to drive frequently and the gas prices go up.
• The extra $5,000 for the CR-V could be pulled out of the money I’ve set aside for tuition next year, but that means I’ll have to take out student loans. There is also the option of an interest-free loan from my parents, although I’d prefer not to go that route.

Why (not) CR-V?

• I’ve always loved CR-V (it’s the perfect size!), but have thought it’s too much car for what I need. We are not planning on adding kids and we don’t go camping… ever… so there is no need for the additional passenger room or the cargo space of a crossover/mini-SUV.
• CB’s car is a 1995 Civic and is over 150,000 miles, so he may have to replace it in a few years. At that point, hopefully we’ll be in a stronger financial position and be able to buy a CR-V or a similar car with cash.
• More expensive car = lower gas mileage and possibly more expensive to insure.
• The only reason I’d buy the CR-V now would be for 1. comfort (I like to be able to sit up higher in a car), and 2. safety in crashes against bigger cars. The Civic is a top safety pick, but it’s still a compact. The laws of physics are not kind to small cars in small vs. big matchups.

Have you purchased more car than you needed? Talk me out of the CR-V!

Copyright 2010 Talk Me Out of Getting More Car Than I Need is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

As the temperatures hover around the triple digits in many parts of the U.S., I imagine all the ice cream shops are doing brisk business. Did you know that Americans eat more than a billion gallons of ice cream and frozen desserts every year? I am quite contribute that I more than my fair share to that figure.

Last night CB and I could not stand the heat any longer, so we ventured out in search of something cold and creamy – ice cream, gelato, or frozen yogurt would all hit the spot. We headed to an ice cream parlor called Fosselman’s, which has been family-owned and operated since the 1919. Fosselman’s has a charming old-timey feel and very generous scoops – 2 handmade scoops plus a waffle cone only cost $6. It also has a 4.5 star rating from 1,200+ reviews on Yelp.

When CB saw the prices, though, he said, “oh, that seems more expensive.” Which made me think – what’s our reference for “expensive” or “a good deal” when it comes to ice cream? (CB’s reference, apparently, is the Baskin Robbins – Fosselman’s is more expensive, but only by about 20-30 cents a scoop. And I suspect the scoops may be bigger. It’s certainly cheaper than Coldstone Creamery). I am a sucker for cold, sweet and creamy on a hot day, and so have never thought of ice cream pricing too much. As long as it seems reasonable (under $4 or $5 a person), I don’t pay much attention to the prices.

Last summer we were frequent visitors to a place called Handel’s, which has been written up in National Geographic as one of the best ice cream shops IN THE WORLD. Some Handel’s locations have $1 scoop days, and if you are willing to wait in line with half the population of Southern California, it’s one of the best deals – best things – ever – on a hot summer night. I am too afraid of the crowds, however, and gladly pay $2 per scoop with only a 10 minute way during the normal price days.

I’ll be the first to pay extra for organic, handmade, artisanal ice cream that tastes amazing. After all, ice cream is a once-in-a-while treat, and it’s not more expensive than a Starbucks drink. Your direct pay-for-happiness ratio is pretty high with ice cream, in my humble opinion. But I probably wouldn’t hand over my money for something that’s more gimmicky or designer. A blogger, All That Glitters, mentioned a designer ice cream shop called Ice Cream Lab in Beverly Hills that cost $5 for a 5 oz. ”small” and concludes it was pretty expensive. I agree - $5 can get me a pint of Haagan Daaz!

It’s cheaper to just buy a pint of ice cream, even from a smaller shop, than buying scoops. But I’ve discovered – the hard way – that I can’t keep pints in my fridge. They’d all be gone in a day.

What is your favorite ice cream shop (and flavor)? How much would you pay for a scoop of ice cream?

Copyright 2010 How Much Would You Pay For a Scoop of Ice Cream? is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

This past weekend, aside from a lovely Mother’s Day dim sum trip with my parents, comprised of hopping from one car dealership to another, test-driving cars.

So far, CB and I have driven the following:

• Honda Fit
• Nissan Versa
• Fiat 500
• Honda Civic
• Mazda3
• Ford Fusion
• Honda Accord

Here are some tips I’ve realized are great for a smooth test-drive process:

1. Go on a full stomach or bring a snack bar and plenty of water. Test-driving was a pretty tiring process for me, and we had to take a break to get lunch. If I had some snacks with me, it would’ve been easy to power through and get it down in one-go.
2. Go to the dealership closest to your house for casual test-driving. Seriously, there is no need to traipse all over the county for specific dealerships until you are ready to buy.
3. Have your driver’s license ready so the dealership can make a copy of it – they will need to do this before you test-drive. Remember to get your license back after the test drive (I know a few folks who have forgotten their licenses at the dealership).
4. Drive for a little bit with the windows up but without air conditioning on to get a sense of the road noise.
5. Adjust the seat and the steering wheel to your liking before setting off on a test drive. If you don’t know how to adjust, ask the dealer to help you. I didn’t do this for the Civic and felt really uncomfortable during the whole drive. Now we are planning on going back and doing another test-drive with the seats properly adjusted – this step would have been avoided if I had just remembered to ask!
6. Sit in the back seat and the shotgun seat to see how you like it.
7. Take note of the salesman’s customer service and how comfortable you feel – when you are ready to buy, customer service, along with price, will help you decide who should earn your business.

After the test drives, I ruled out the small cars – the Fit, Versa, and Fiat 500 – because I wanted just a little bit more room. The Civic was great on paper, but I felt a little underwhelmed on the first test drive. The Mazda3 was the most fun to drive but I can see the Civic being more comfortable for me on longer trips. The Fusion and the Accord were awesome cars, but probably too big and too expensive for my purposes.

Have you test driven any cars lately? What tips would you add?

Copyright 2010 My Tips to Having a Good Test Drive at Car Dealerships is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

I love decor, but have never truly decorated anything because I felt that my life was so transitional. Moving ever year or two wasn’t the best canvas for investing in solid pieces or even a new coat of paint. When I last moved, I gave up a couch I loved because it was much too heavy to be lugged across country. “But when I grow up,” I’d think, “I’d have an Apartment Therapy Small Cool Contest-worthy home.”

The current crop of entries are already up. Even though I am still a few years off from moving into a place where I can stay put for a bit, I am already filing these pictures away in my design inspiration folder. My favorite entries from years past would be Laura’s Fresh Start Studio (2007) and Ron’s Hotel “Sweet” (2007).

Here’s what the Apartment Therapy contest says:

If you live in a wonderful Small Cool home, it’s time to show it off! We invite you to inspire us – and impress our new-for-2013 judges panel –  with photos of your compact home along with your real-life tips for living well in under 1000 square feet.

Share your style in our ninth annual contest and, if you’re our grand prize winner, you’ll have a little bit more in your design budget to help take your place to the next level – and we want to know exactly how you’ll do it! This year, we’re asking for a peek at your home shopping and project wishlist.

Small Cool only comes around once a year, so be sure to join in and send us an entry or follow along by choosing all your favorites throughout the month of May.

Entries submission ends May 20.

Do you read Apartment Therapy on a weekly, if not daily, basis as I do? What’s your favorite Small Cool submission this year? 

Copyright 2010 Apartment Therapy Small Cool Contest: You Could Win $3K is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

• Granite counter tops
• Stainless steel appliances
• Walk-in (or LARGE) closets

I understand the appeal of all of those amenities, especially having to do with the appliances. When I first moved to my city for school, I was so excited to see that I had stainless steel stovetops, fridge, and dishwasher (all my previous apartments had older white refrigerators). A 2012 article on from ABC 15 says that “stainless steel may be over” and reports that manufacturers are moving on to new finishes, but I haven’t seem much evidence of that.

On HGTV, many buyers passed on otherwise beautiful homes because of an old-fashioned kitchen or a kitchen without a fridge. In the comfort of my own bedroom, I’d make a face like this:

My personal preference falls firmly into the stainless steel camp (I love the clean lines), but I’d be willing to buy an older home if all I had to do would be to update or replace the appliances. Who would pass on an otherwise perfect home because of a measly stove?! On the other hand, I doubt I can take on a brand new renovation project.

Just curious, how important are stainless steel or latest, most-up-to-date appliances to you?

Copyright 2010 Updated Appliances: Must-Have for Homes? is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

A friend and I are heading to Savannah, GA in a few days for some fun, relaxation, and good ol’ girl bonding time. I first expressed an interest in visiting Savannah and Charleston two years ago, and now the Savannah trip is finally happening! I am really excited about the chance to explore this gorgeous Southern port city planned by James Edward Oglethrope. Apparently, the beauty of Savannah saved it from burning during the Civil War – even in wartime, it seems, there can be an instinct for preserving a jewel of a city. We only have 2 days in Savannah, so we will stick to the Historic District in downtown.

Here is our itinerary:

Day 1

• 1pm – Arrive in Savannah, have lunch @ TBD (no reservations will be made (perhaps this place?)
• 3pm – Check in hotel @ Spanish Moss Inn in the Historic District
• 5pm – Savannah Rambles walking tour (2-2.5 hrs)
• 8pm – Dinner reservation @ Allure Savannah

Day 2

• 9:30am – Brunch at B. Matthew’s (included in Hotel Rate)
• 11am – Exploring: Bonaventure Cemetery,Forsyth Park, City Market, etc.
• 3:00pm – Afternoon tea reservation @ The Tea Room
• 5pm – More exploring
• 8pm – Dinner reservation @ Garibaldi Savannah or Crystal Beer Parlor

Day 3

• 10am – Brunch at B. Matthew’s (included in Hotel Rate); check out of Spanish Moss Inn
• 12pm – Depart Savannah

If you have lived in / visited Savannah and have recommendations on must-see’s and must-eats, please share in the comments! We can be flexible on restaurants.

Copyright 2010 A weekend getaway to Savannah, GA is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

Anyone who has looked into a home loan knows that while the primary expense revolves around mortgage rates and monthly or fortnightly payments, there are other costs involved that can be quite substantial and affect your ability to get the cheapest deal on your loan.  In fact, the first time in the mortgage process that anyone will ask you for money comes in the form of start-up fees—also referred to as establishment fees.  These expenses can vary significantly from lender to lender and even, in some cases, between specific mortgage products from the same lender.  Part of determining the best mortgage for you is keeping the expense of the entire process as cost effective as possible and that means limiting the hidden fees and expenses.

The three main areas that form start-up costs are:

The Application Fee

This is pretty much what it sounds like:  a fee imposed to cover the paperwork and the rest of the administrative tasks involved in the mortgage process, such as running a credit check and a property title check.  This expense can vary dramatically from application to application.  In some cases, the charge will be waived completely.  In other instances, it can run into the hundreds of dollars.  Depending on circumstances, the fee may be refundable if your mortgage application is denied, so it definitely pays to understand your lender’s application fee policy before beginning the process.

Valuation Fee

Lenders want to be sure that they’re not loaning more money than is necessary to secure a property, so they often require that a property valuation be done to ensure that the price is more or less consistent with market value.  The lender will select a third party to conduct this assessment and the cost of the valuation is usually passed along to the borrower in part or in full.  The fee is typically several hundred dollars, but will vary from property to property.

Legal/Conveyance Fees

The sale of property naturally carries legal requirements, and legal fees come along with them.  The term for the process of transferring ownership of property is conveyance and the process of drawing up the legal papers is ordinarily done either by solicitors who specialise in property law or licensed conveyancers (laymen specially trained and certified to carry out standard conveyance work).  Licensed conveyancers are almost always less expensive to engage and are qualified to handle routine matters; lawyer conveyancers bring more experience to the table and are capable of handling any problems that might arise.

Copyright 2010 Start-Up Costs: A Look at the Hidden Costs of the Mortgage Process is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

What’s even cooler than a pie chart? A pie chart on an ACTUAL PIE. Yum.

What you see before you is my summer internship finances pie. Not quite as delicious as a pumpkin pie or an apple pie or a blueberry pie, but almost. Getting my internship means that I will finally be making money again after a year of a graduate student’s (income-less) life. It is so exciting that I’ll have cash coming in instead of going out.

After my Roth IRA contribution of $5,500 (paying myself first) and taxes (paying Uncle Sam his due), I estimate I will take home around ~$12,000.

Here is how I will divvy up that money:

• New Car Fund: $4,000 <—- will write more on this later, but essentially, I will need to get a car before June.
• Summer sublet rent + utilities: $1,400 <—- Housing is where I tried to save money the most. Instead of living right next to the office where rents go for $1,000+ a month, I managed to snag a place 10-15 minutes away for $600. I hope I won’t regret this decision, as most of the social life will be further away for me than for many other interns.
• Food: $1,000 <—- I’ve decided to
• Gas: $300
• Auto insurance: $1,000 (I’ll pay auto insurance for the full six months. Still need to get quotes).
• Travel and entertainment: $3,000 <—- I am doing some shorter, domestic trips before the internship starts (posts with budget breakdowns to come!), so I suppose I am taking an “advance” for myself right now.
• What’s left: $1,300 – will go towards next year’s tuition.

During my last internship, which was back when I was in college, my rent was also $600 a month. Of course, my college summer internship was in a much more expensive area than my MBA summer internship, but it’s still a funny coincidence.

Are you interning / taking on overtime this summer? How are you divvying up your earnings? 

Copyright 2010 Summer Internship Finances is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

Copyright 2010 Testing is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

Whether you’re paying off a mortgage or happily renting, taking care of housing costs can be time consuming. When you’ve got a full time job, a social life, and frankly, far more appealing activities to be getting on with, brushing financial admin under the carpet can be incredibly easy to do.

As a result – from splashing out on daily essentials to avoiding monthly overheads – homeowners and tenants often fall into various habits. If you’d like to ease your financial constraints in the upcoming months, consider whether you are overspending on…

Food…

Due to longer working hours and less time spent with loved ones, it’s easy to forget about sitting down and eating as a family. It’s also far easier to fall into the trap of expensive takeaways and last-minute stops at the supermarket. But could this be one of the biggest factors in your lack of money? Consider the alternative; by planning ahead and mapping out your daily meals, you could figure out all the items you’ll need to buy instead of overspending unnecessarily at the last minute. Why not get your weekly groceries delivered? As well as being a great time saver, online shopping is also a ready-made calculator, so you’ll be able to break down just how much you’re spending each week.

Insurance…

Figuring out your home insurance is one of the best ways to ensure financial security. Not only will the correct cover protect you and your family from future damage, but by getting the best rate possible, you’ll also be able to save money in the meantime. Whether you’re a homeowner or fall under your landlord’s up to £50,000 content insurance plan, it’s always worth shopping around for the deal that’s right for you. Just remember to always check exactly what you’re covered for… It’s all well and good getting a cheap deal from 50% off home insurance, but if certain contents aren’t protected, you’re guaranteed to kick yourself in future.

Utilities…

Although direct debit can be an incredibly convenient way of paying your monthly bills, it’s a method which can also contribute to you keeping your head stuck firmly in the sand. If you’re not aware of what’s going out, how can you be expected to budget? From broadband and phones, to electricity and gas, utilities are often unnecessarily pricey and easily changeable. Whatever company you are with, try asking for a cheaper deal.  If all else fails, threaten to change to another! They’re guaranteed to change their minds then.

Luxuries…

The word ‘luxury’ might not sound like the standard of living you are used to, but from furniture to washing powder, there are many different areas of the home which require an extra bit of money here and there. So whether you buy that coffee table second hand, or switch to economy branded orange juice, you can save money on luxuries without even really noticing.

Having your own home needn’t result in a financial headache. Just by being aware of the aforementioned overspending traps, you’ll be much less likely to fall into them!

Copyright 2010 Our House: Common Overspending Traps to Avoid is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

Well, what DO I want out of money?

For someone who thinks a lot about her personal finances, the reason why I think about my finances is because I don’t want to worry about money. That’s my biggest personal finance driver – to be able to just not worry about money. I can’t quite articulate what exactly “not worrying about money” means, but I do know I am happiest when I can enjoy most of the splurges I want and still be putting away over 50% of gross income. That will satisfy both the shopper and the saver in me!

Control wants + increase income = no more money worries.    

There are two methods that I am employing, in tandem, to achieving my goal of “not worrying about money”:

1. to control/moderate “wants”, and
2. to increase resources

Both are important because I like beautiful things and delicious things and convenient things and enjoyable things, and those things, on the whole, cost more. So then it becomes a matter of setting an internal benchmark, if you will, on my definition of “luxury” or “beautiful” or “convenient.” This means that I know I will be much more easily satisfied (and at lower cost to my finances) if the handbag I want is a $300 tote from J.Crew instead of a $2,000 bag from Celine, or if my dream house is a 3-bedroom bungalow instead of a stately mansion. In short, I am careful to control not only my lifestyle inflation (what I buy) but also my aspirational inflation (what I want to buy). 

On the second part, is that I want to be able to enjoy these nice things and still save and invest for my financial security. And the only way to do that is to increase my resources. Hence, coming back to school. Hence, working hard to find a job that I enjoy and learn, but that provides a good compensation.

Do you have a “no more money worries” goal? How do you intend to achieve it?

Copyright 2010 No More Money Worries is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

His death has really jolted me into understanding the mortality of my parents, who are turning 60 this year. SIXTY! I’ve always had this image of my parents as 50-something folks, and it’s sobering to think that they are, well, old, and getting older. There will come a day when I will have to say goodbye to them, just as they have said goodbye to my grandparents.

It’s that realization that made me sadder than even my grandfather’s death. It’s also that realization that made me decide to not put things off to “tomorrow,” and instead, take steps to do things today.

One of my goals is to go on more family trips with my parents and CB and I. When I was young, my parents and I would go on small vacations (a day or two over the weekends). By the time I entered high school, however, family vacations stopped because we all just got so busy. I’m going to change that! So this Memorial Day weekend, I am planning a trip for the four of us. It’s going to cost some money – flights for 4 are not cheap on a long holiday weekend – but the way I look at it, these next 10 years are going to be prime family travel years for my parents and I, and the time to start is NOW.

What are things that have jolted you into action on your life or finances?

Copyright 2010 Things that jolt you into action is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

!!!

This is a really exciting development, and gives me hope that we are on track to a comfortable retirement.

Copyright 2010 $150K in Retirement Funds is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.

Take the shoe survey!

(I’d love to learn more about you and your shoes, so I thought of 5 simple questions.)

1. How many pairs of shoes do you own?

2. The most expensive pair of shoes you have ever purchased cost….? 

3. Would you take $500 or a pair of Louboutins? 

4. If your house was burning and you could only save ONE pair of shoes, which would it be (assume that your family, laptop, photos, pets, etc. are all safe)?

5. What was your most recent shoe purchase? 

My answers:

1. I have around 20 pairs of shoes, including 5 pairs of boots, 4 pairs of black pumps, several suede platforms, and a few delicate strapped sandals.
2. The most expensive pair of shoes that I have ever purchased was almost $300 – a pair of gorgeous red and black tango heels that I splurged on during a period of unemployment. I think I blocked it out of my memory because it was so painful and irresponsible (to spend $300! On tango shoes! While I was laid off!). But I spent many, many happy hours swirling in those babies – and I eventually found a job – so I’d have to say they were worth it.
3. I’d take the $500 because then I could buy FIVE pairs of shoes with the $500 instead of one pair of Louboutins.
4. As to the shoes I’d save, it’d have to be a pair of Rockport dress boots – Rockport boots are so comfortable that I can walk in them for hours.
5. My most recent purchase were these snakeskin block heels during a 30% off sale.  Love them and I can’t wait to wear them.

hat tip to Single Ma for introducing me to the documentary

Copyright 2010 With shoes you can’t lose is a post from Well Heeled Blog - Personal Finance + Savvy Living = Save for Tomorrow, Enjoy Today. This feed is for non-commercial purposes only.