Blogging | Well Heeled Blog

Win $200 Cash!

Written by WellHeeled on March 15, 2013 · 5 Comments

You read that right… the first giveaway of 2013 is a good one: $200 of cold, hard (PayPal) cash. What would you do with $200 cold hard cash? If you win, you’ll have to decide very soon!

Well Heeled Blog has teamed up with Tomorrow Finance to offer everyone a chance to win $200 cash, to spend on whatever you wish. The personal finance blogger in me must plug that you have until April 15th to max out your Roth IRA, so hint hint!

What’s cool about blogging is the chance to work with folks from all over the world. When a Tomorrow Finance representative approached me about sponsoring a cash giveaway, I was really excited. Then I found out that Tomorrow Finance is an Australian home loan comparison website who could help you money on your home loan. As an independent company, Tomorrow Finance regularly have specials which are better than what the banks advertise and managers from the major banks to help you through the process.

a Rafflecopter giveaway

I am not from Australia, but I do want to purchase a home in the not-too-distant future, so I went on the website and played around with the loan comparison tools and read on their money saving tips and loan advice. Some of them are obviously specific to Aussies, but there is a lot of good information that is helpful to anyone who wants to buy a home. So check them out!

Fess Up Friday: What’s All This Planning FOR?

Written by WellHeeled on June 29, 2012 · 22 Comments

It’s been hard to write about money – mostly because I have now quit my job, packed up my stuff, and gotten ready to clear out my savings to pay for the first year of business school. In short, it’s been a lot of cash OUTFLOW and a bare trickle of cash inflow. I also found out that I was rejected for a pre-MBA workshop that I interviewed for. Even though I know it’s still very early in the process, that rejection made me a little nervous about the whole recruiting / going-without-income / taking-out-loans stage that I am about to embark on.

On a tangentially related note, in past 3 months, I’ve had an acquaintance and her fiance die in a car accident and the husband of a middle school friend pass away from acute leukemia. I just found out that one of my distant cousins succumbed to breast cancer, barely two years after diagnosis. These people died when they were around my age. Then, last night, my mom’s friend called her and said she just got notified by the police: her husband was killed on his commute back from work.

Which brings me to this question – what is all this worrying about money and saving FOR? Obviously, we need money to lead a comfortable life, and we need to save money so that we can be comfortable when we are older and no longer capable of working. Yet all this planning ahead doesn’t change the fact that life can change in an instant.

Ways To Save on a Hotel

Written by WellHeeled on June 20, 2012 · 7 Comments

This is a guest post by Michelle at Making Sense of Cents. She writes about personal finance related topics such as budgets, student loans, and making money, but also talk a lot about traveling, beauty and food – and especially of her favorite topic – travel!

I’ve found that the best way to save money is to find the best rate you can find on where you’re staying. I don’t like to go to cheap with the place that I choose, because I don’t want to ruin the trip by staying in a place that I hate.

When I went to San Juan last year, I scrimped on the hotel room (but it was still expensive, the room was around $200 a night). That was the cheapest I could find for a hotel that was actually on the beach during peak season.The hotel ended up being great, but the rooms were HORRIBLE.

The hotel was great. It was on the beach, only had around 30 to 40 rooms and it was VERY pretty. But once you opened up the hotel room door, it looked nothing like the pictures online.

There was stuff on the wall (food, some throw up and hair). The bed was dirty as well. It was made but it was very obvious that the sheets were not washed because there was hair in the bed (and a lot of it).

However, we have chosen cheap before and it has worked out great. I think reading reviews is key as well. In the above case, there were hardly any reviews. But for our Miami trip last year, we used Airbnb because we had just heard about it and heard such great reviews.

For our Miami trip in the summer of last year (the white 2 story condo in the picture), we used Airbnb and got the room for around $125 a night for the room. Not the cheapest place we have ever stayed at, but it was across the street from the beach, in Miami Beach, had a canal in the backyard with a boat and kayak for us to use, and a jacuzzi (way too hot in Miami when we went, so we never hopped in).

It was a great deal, and our host was very nice. We talked to him for a bit and he owns multiple properties in the Miami Beach area, but he had managers at each property. He was very easy to get a hold of as well. I believe the personal touches and customer service were great to have.

I’ve looked at other places on Airbnb and I usually fall in love with all of the places. They are always such great deals in nice areas. You can either get a room within a house, a condo, a guest house, or share a room with others.

We also went to Kauai this year, and we used Priceline to bid on our hotel. This was the first time I had ever done this, so I was very nervous. But after looking at many Priceline forums and tips, I got the Sheraton Kauai Resort for $140 a night, whereas it usually started at around $250 a night. I was very happy with this hotel as well!

There are so many ways to save on a hotel:

Sites such as Expedia and Priceline can be great. They usually have great deals, and you can usually call the hotel directly to haggle for an even lower price.
Bid for your hotel on Priceline. We saved a lot on our Kauai trip by bidding for it. We weren’t too specific on what we wanted, just that we wanted to be on the beach, so this made it easy to bid for.
Couchsurfing. I’ve signed up for this site, but I have never used it. It sounds very interesting though. You offer up a room or a couch in your house and hopefully you can crash at someone else’s place for free as well. And these people will hopefully tell you or show you where you should visit while on vacation.
Airbnb. Our Miami trip went very smoothly due to us using this site. You can read other’s reviews (they have to pay in order to leave a review, so they are more likely to be true). [Note: I've used AirBnB twice, and were very happy both times - Well Heeled Blog]

What do you usually do to save on your hotel costs?

Where Did You Get Your Financial Habits?

Written by WellHeeled on June 14, 2012 · 23 Comments

This is a guest post from Andrea at So Over Debt, a 29 year-old single mom working to overcome a ton of financial mistakes. Visit her site to read about her journey to get out of debt, make better choices, and help others do the same.

It’s no secret among my family and friends that I’m in recovery from a serious spending addiction. Just six years ago, I cut up around twenty-five credit cards and filed for Chapter 7 bankruptcy at the lowest point of my downward spiral. Two years ago, I was in debt again – to the tune of 5 credit cards and over $6000. And a year ago this month, I paid off my final credit card and haven’t carried a balance since. (Yay, me!)

The one thing people always ask is where in the world my habit of overspending came from. My parents don’t live beyond their means, and neither do my grandparents. I was probably in 8th grade before I even knew what a credit card was! Yet it’s exactly those circumstances that molded me into the shopaholic I was. While I’ve come a long way and take responsibility for my choices, my upbringing is the exactly reason I call myself “recovering” instead of “recovered.”

Humans generally form habits in one of two ways – imitation and reverse imitation. We all know what imitation means. It’s the baby who smears lipstick everywhere trying to be like Mommy. Almost every scene in Home Alone. People buying Ugg boots after seeing celebrities wear them. (At least that’s the only explanation I’ve managed to come up with for those atrocities – please don’t tell me otherwise!)

Reverse imitation, though, isn’t always as easy to pinpoint. Ever hear someone say they don’t drink because one of their parents is/was an alcoholic? How about the people who use time-out with their kids because they were spanked growing up? These “reverse imitation” habits are usually an absence of something rather than the presence of it, so they can be overlooked. However, as I’ve learned in my own life, that doesn’t make those habits or traits any less prominent – it just makes them more difficult to break.

My parents never explicitly taught me anything about money or how to manage it. That’s not an excuse or criticism; it’s just a fact. Obviously I saw them spend money, but I wasn’t involved when it came to budgeting and saving it. I didn’t grow up with an understanding of what was going on when it came to the family finances, which left me to form my own conclusions in my childhood head.

Here’s what I “knew” about money as a kid:

I knew that paying bills was really stressful and my mom and dad usually fought about it.
I knew that my sister and I had everything we needed and a lot of what we wanted.
I knew that one could write a check and it was just like actual money.
I knew that I was never ever allowed to look at my mom’s checkbook.

And here’s how that worked out for me in adulthood:

I avoided paying bills until the last minute, viewing it as a horrible experience to be avoided.
I spent on needs, but plenty of wants as well, with no thoughts about exactly how I would pay for everything.
I wrote bad checks and paid overdraft fees constantly.
I treated my checkbook ledger like a bomb that might go off at any second (which, in retrospect, it sort of was!)

In my case, a combination of imitation and reverse imitation led to my poor financial habits. I was so busy picking up the nuggets of “wisdom” above that I missed the bigger picture. Like the fact that my mom bought her own clothes at thrift stores to be able to dress my sister and me like our friends at school. Or the side jobs my dad always took in the fall to earn money for Christmas gifts.

Since I was left to interpret financial matters on my own, I managed to develop a set of behaviors that are the complete opposite of the example my parents tried to provide. This has influenced me to provide my son with overkill when it comes to information about money, all with the hope that he’ll understand and imitate the habits I demonstrate now, not the ones from the past.

Where do your financial habits come from? Can you pick out certain family members who influenced your decisions, either by imitation or reverse imitation? What habits do you hope to pass on to your (actual or potential) kids someday?

I’m Married!

Written by WellHeeled on June 4, 2012 · 46 Comments

This is a quick post to capture my feelings about, well, tying the knot!

I still can’t believe that we are married. In some ways I feel like we are still way too young, and in other ways it feels like marriage will change nothing at all.
It was really nice to see our families and friends all gather around and wish us well. It made me kind of sad that there will never be another occasion where I will have that. Except for, you know, maybe my funeral.
The day passed by SO QUICKLY. I woke up at 6 am because I couldn’t sleep well the night before, and in the blink of an eye the day was over.
Right before I walked into the room, a big group of French? German? tourists exited and took pictures of me on the way out. They were so sweet and wished me the best, and that was kind of a funny moment before I walked down the aisle.
My flowers were fabulous, if I may say so myself. And I DIY’ed all the floral arrangements, including the bridal bouquet you see above. See that succulent rosette? I wired that!
Now that the wedding is over and I’ve had all of 2 days to think about it, I am very comfortable with how much we spent on the day and how we spent it – a full wedding budget recap is coming soon. On the one hand, it’s just one day, and even though I didn’t do ALL that much planning and agonizing and special crafty projects as many of the wedding bloggers I’ve read, there’s still the sense of “wow, all of that work and it’s all over in just a few hours?” On the other hand, it was a really nice day, so I’m glad I spent the money on things like wine and good food, and my dress (because it was a beautiful dress!).
I have a husband! Imagine that.

Yakezie Carnival: My Momma Told Me Edition

Written by WellHeeled on May 13, 2012 · 18 Comments

On a sunny morning in middle of May (Steve Zussino @ Grocery Alerts)
A mother goose (Amanda L Grossman @ Frugal Confessions) gathers her gooselings around
“Listen carefully to what I have to say,
Even better, here, write the keywords down” (Jon Rhodes @ Affiliate Tips)

“Education is important, but you can cut college costs (Dr. Dean @ The Millionaire Nurse Blog)
And for a higher income, a college is not a must (Sean @ One Smart Dollar)
The economy is sucky, but you can still find a job (Shilpan @ Street Smart Finance)
Listen to my career advice and trust (Jeremy @ Modest Money)

Every job teaches you something new (MMD @ MyMoneyDesign)
Here are 3 O’s of Success (KrantCents) for you to read
You can reach an income level you consider rich (Eddie @ Finance Fox)
As long as my advice you will heed

When you get a credit card (SB @ Finance Product Reviews) look for something good (Timothy @ Wealth Artisan)
Avoid consumer debt and pay cash instead (KT @ Personal Finance Journey)
You can reward yourself with some luxury (Jen @ Master the Art of Saving)
But don’t let lifestyle inflation go to your head! (Teacher Man @ My University Money)

When it comes to investing (J Wayne @ All Things Finance) you should know
There are risks in every go (SB @ One Cent at a Time)
Learn from the best like Warren Buffett (J.P. @ Novel Investor)
Establish a good allocation of asset (YFS @Your Finances Simplified)

Retiring early is hard to do (Ryan @ Early Retirement Investments)
future inflation rates can go up or down (Luke @ Learn Bonds)
S&P 500 Return Calculator (PK @ Don’t Quit Your Day Job)

Lay many nest eggs, mother goose continued
Have a few rental nest eggs (Lance @ Money Life & More) set as well
Don’t get caught up in investing fads (Teacher Man @ Young And Thrifty)
Dodge investment scams (Tushar @ Start Investing Money) from those with a scheme to sell

When you meet that one very special someone (Michelle @ See Debt Run)
And your heart suddenly go pitter patter
Spend spend some money but don’t let the pursestrings fall too loose (Everything Finance @ Everything Finance Blog)
Don’t serve your finances up on a wedding platter (Daniel @ Sweating the Big Stuff)

Help a 23-Year Old Reader Move Out & Set a Budget

Written by WellHeeled on April 25, 2012 · 27 Comments

A reader, let’s call him Ben, reached out to me and asked for some advice on getting started on the right (or left! har har) financial foot. I gave him my feedback – basically, keep your expenses low, build an emergency fund, and save for retirement even though you are only 23 - but I thought it’d be so helpful for you guys to chime in.

I’m a recent University of California college grad, recently employed full time, looking to move out of the parents’ house.

My employer does not include retirement contributions (hopefully they will by January). No health insurance to pay because I plan on staying on my parents’ plan until I’m 26.

Here are the numbers:

$3,000 a month before taxes, living in Los Angeles.

$264/month car lease that I’m stuck with.

Targeting $700-$850/month rent, splitting a place with one roommate

No 401k through employer so looking for some alternatives to putting money in a savings account.

Have $5,000 in savings right now.

Will have least $8,000 saved up by the time I move.

Thanks so much. Would love to hear your readers’ input. I had to wikipedia the 401k — it’s bizarre thinking about my retirement fund at 23.

Any quick advice on how much I can spend on rent/food on a $3,000/month pre-tax salary while still saving up? How much do you think I should save before I can make the plunge?Staying at home is not viable advice — I’m aware it’s the safest financial bet, but my heart is set on moving out.

So, wise readers, what advice do you have for Ben?

Fess Up Friday: 5 Financial Stressers

Written by WellHeeled on April 20, 2012 · 25 Comments

The developments in my life – financial and otherwise – have left me very stressed out for the past several days.

The first stresser is the fact CB didn’t receive any financial aid to his graduate program… funding has not kept pace with the applicant pool and so most people that would have received scholarships in years past only have the option of loans this year. Given that tuition is $40,000 a year, that is a very worrisome development, indeed. We are working on a Plan B, and I am hoping it will come to fruition. Please keep your fingers crossed and pray to the deity of your choice for us. Amount of money I’m stressed about: $40,000/year.

The second stresser is that my wedding is less than 2 months away, and I still have not 1. sent out our invitations. 2. finished our invitations. 3. finished our wedding website. At this point, I really wish it would be appropriate to email everyone on my invite list and include a link to my half-finished wedding site. Amount of money I’m stressed about: $0 because our invitations will be done as a gift, but email would be $0 AND stress-free!

The third stresser is that I am trying to find a roommate, find an apartment, and sign a lease cross-country. Fortunately, I am moving to a low cost of living area where a room can be had for $450+, so I am definitely looking forward to the cost savings that will bring. Amount of money I’m stressed about: $6,600/year

The fourth stresser is that the application process DOES NOT END with an MBA acceptance. I had thought that I would have a bit of a break between getting my acceptance and the start of the recruiting season in the fall. Oh no. In fact, an MBA acceptance just brings with it applications to all sorts of pre-MBA programs and conferences that are excellent networking and career-building opportunities, no doubt, but which also require more essays, more resumes, more time. Amount of money I’m stressed about: $??? depending on which conferences I get into and travel fees to said conferences. But I’d be lucky to have that stress, because it means I would be accepted.

The fifth stresser is not so much a stresser as it is a bit of a disappointment. CB and I have decided that the $11,000 Galapagos Fund really can’t be used for a Galapagos trip right now. I realized that I can’t go when Emily at Evolving PF asked what my mom would advise me to do. And I just can’t find a way to bring it up to her and have it still sound rational and prudent. And that is how I know I shouldn’t go. Instead, we are going to keep that money saved and probably spend it next year on graduate school-related costs. I know many of you encouraged me to go, and trust me, I WILL go. It will just be in a few years. In the mean time, I am sure we will be taking shorter and cheaper trips to placate my wanderlust and satisfy my need for adventure. Amount of money I’m NOT stressed about: $11,000.

I was talking with Deena and Andrea on Twitter, and we agreed that when finances are stressful, we lose the will to blog. Isn’t that ironic for personal finance bloggers? But it’s just so much easier to be cheery and upbeat when things are, well, cheery and upbeat. Any other blogger feel that way?

image credit: bottled_void via Flickr

If you have some stressers in your life, feel free to unload in the comments!

Win $50 Gift Card to NOVICA

Written by WellHeeled on April 10, 2012 · 22 Comments

It’s time for another giveaway to NOVICA.com, the website where you can find unique gifts and products (silk fans or batik shawls, anyone?) from all corners of the world AND have your purchases help local artisans sustain their craft and earn a living wage. I’ve put up a picture of my favorite batik shawl below.

batik shawl 1024x682 Win $50 Gift Card to NOVICA

NOVICA silk batik shawl, $39.99

One lucky reader will get a $50 Gift Card to NOVICA.com. It’s a great website to look for gifts – I really like their selection of mens cufflinks from India (there are a few things I like on the women’s accessories from Indonesia as well). And check out these Brazilian soda-pop tab belts!? Have you seen anything like it?

To enter, just do so via the Rafflecopter below. The contest will end on 12am EST on Friday April 20.

Fess Up Friday: 5 Personal Finance Topics I’m Over

Written by WellHeeled on April 6, 2012 · 36 Comments

Not to be a complainer, but there are a few things about money and finances just get my goat. So in the spirit of Fess Up Friday, I present to you the five personal finance topics that I’m over.

1. People who talk about the beautiful $2,000 wedding they had for 100 people 15 years ago, and then wonder why couples today need to spend more. I know most folks do this with the intention of demonstrating that a wedding can be done cheaply and well (true). Also, true, however, is the fact that $2,000 15, 10, or even 5 years ago is not the same as $2,000 now. Inflation (plus the above-inflation wedding industry price increases) happens.

2. The sin of buying a (gasp) new car. Given the ever-increasing cost of good used cars, buying a new car might be the right choice, both for financial reasons and for peace of mind.

3. Fashion magazines and their charming sense of what is “budget-friendly” or “steal-worthy.” Unless you make a really good living, there is no way that ANY $1,000 dress/bag/necklace is a steal, even if their more expensive counterparts cost $5,000. I was so disturbed by this trend I wrote a whole post on it.

4. Extreme – and unethical - couponing. I don’t know when it became trendy to buy 300 cases of canned pasta sauce and pile them up in the basement (or breaking laws and disregarding store policies to make such purchases), but I will be glad when this whole thing blows over. Please, coupon judiciously and conscientiously.

5. The “stupidity” of tax refunds (or, if you get a big tax refund, or want a refund, or do not mind a refund, then you are a dimwit who cannot do math). Yes, yes, I know, tax refunds are interest-free loans to the government. I know that, and even so I would much rather received a refund than owe money, and for most people having a big refund is actually a pretty good way of enforcing savings. Besides, at less than 1% interest rate for most cash accounts, just how much interest are you missing out on with a refund? Answer: probably not enough for you to lose sleep over.

Hat tip to Eemusings for the inspiration.

What 5 personal finance topics are you over?

Fess Up Friday: Bad Purchase Edition

Written by WellHeeled on March 30, 2012 · 15 Comments

Whew! A lot has happened this week.

First, Bill over at Credit Card Assist was nice enough to interview me for the Best of Bloggers series. Please check it out. Then I made a decision on which MBA program to pursue. And today, CB and I are taking the day off to get our marriage license.

As for my confession – I just did something that is probably quite unwise. I bought a pair of cognac leather boots on Zappos (kind of like these, except at multiples of the price). Even worse, I purchased the boots at full, three-figured, retail price. I am embarrassed to tell you guys how much it cost, especially as I know I need to watch my spending now that I am facing the giant budget black hole that is business school. So I’m going to just keep mum about the price right now. Maybe it won’t even fit and I will just return it and it’d be as if this spending episode never happened at all…

So tell me, did you buy anything this week that you know you probably shouldn’t have purchased?

GMAT Prep Now Course Giveaway

Written by WellHeeled on March 15, 2012 · 13 Comments

If I have any business school applicants or alumni among my readers, you’ll share in my angst over the dreaded GMAT, a 3+ hour long test that seem rigged to bring you down and confound you. I was so happy when I finally got a score I can hang my hat on and move on to the other parts of the application. Aside from the anxiety-inducing qualities of the GMAT, test preparation preparation is NOT cheap. In fact, many courses go for thousands of dollars. But if you don’t have to spend that much, you can save those dollars for the even-more-expensive application process. That’s why I was so excited when the founder of GMAT Prep Now contacted me about the possibility of doing a giveaway.

GMAT Prep Now is an online test preparation course that includes free and paid modules. If you are just beginning to learn about the test, check it out a free module here. The full GMAT course combines over 400 premium videos with a step-by-step learning guide to guide you through your GMAT preparation. The program was created by Brett Hanneson, who has been teaching for over 20 years (and who has a 99th percentile on the test).

Please use Rafflecopter below to enter the giveaway. I’m guessing I don’t have many folks who are going to take the GMAT in the next 12 months (although I could be wrong!), so I’d say the chances are good.

Giveaway ends at 12am EST on Friday, March 30
Read more »

Fess Up Friday: All The Things I Want To Buy Edition

Written by WellHeeled on March 9, 2012 · 32 Comments

I’ve been coming down with a case of I-want-to-shop-itis.

1. Gap Fur-collar Tweed Peacoat: $28 with extra 30% off sale.

I’ve been looking for a stylish-yet-casual peacoat, and this one comes in the most delectable shade of plum. But I have so much to pay for this month… is it prudent to buy another jacket that I like but do not need?

2. Longchamp Planetes Tote Bag: $175. NEVER on sale.

This bag would be perfect as I lug my laptop and books on campus (thinking ahead to business school days). Yet given that just BEING on campus would likely require me to take out tens of thousands of dollars in student loans, should I trade down a little on my bookbag?

3. RSVP boots via Zappos: $88 on sale.

I just want cognac riding boots. In fact, I have been eyeing brown riding boots since 2009! These look nice, have a low shaft – especially important for petite gals – and is reasonably priced. But the boots are made of synthetic leather, should I hold out for a similar pair in real leather?

Tell me what you think! And what’s on your shopping wish list this Friday?

Fess Up Friday: The Lack of Attention to Detail Edition

Written by WellHeeled on March 2, 2012 · 14 Comments

School #3 sent me an email. I open it up. I see the word “Congratulations!” and then my eyes darted over to “scholarships” and “$20,000″ and immediately I started thinking “I got $20,000 per year in scholarships!” Then I did a little jig inside my office (I contemplated doing a cartwheel but I realized there’s no room). I tweeted my good news. I told my coworker. I tried frantically to call CB at my aunt to celebrate. So, imagine my chagrin (and, um, embarassment), when I realized that in my excitement, I had completely misread the award letter. Instead of $20,000 per year, I am receiving the $20,000 over the two years, or $10,000 per year. I am very grateful for this scholarship and I love this school, so I am psyched about any aid. Oh well. The thought of getting $20K a year was nice while it lasted!

CB and I just signed up for a prix fixe menu at a “pop-up” restaurant. This place has gotten excellent reviews, so we are really excited to dig into our 4-course meal with free corkage. The meal for the two of us will be $110 including tip. This is a pretty big expense for the month of March, and the truly frugal thing to do would be to NOT attend this dinner. But I rationalize. A tasting menu prepared by someone of Chef Laurent Quenioux’s caliber will normally cost far more than $45/person. So in fact, I am saving money. (Not really). But I am not feeling frugal.

My dream house in San Diego has sold. Despite the fact that I was in no position to make an offer on that house (or any house, for the next 5+ years), I was sad that my dream house now belongs to someone else. But then I brightened up… because when THEY sell, I will be there!

I am playing with this very nifty loan calculator to project the amount of loan repayments I would have depending on the loan amount, interest rates, and term of the loan. It’s a sobering look at student debt. Maybe I shouldn’t do that prix fixe dinner after all…

Now it’s your turn to fess up! Any money-related (or not) confessions for Friday?

Carnival of Personal Finance #350: The Little Prince’s Journey to Financial Enlightenment

Written by WellHeeled on February 27, 2012 · 36 Comments

Once upon a time, in a far away kingdom, lived a Little Prince and his Wise Wizard. The King, who is very old, wanted to make sure his Little Prince is ready to take over the mantle of ruling the kingdom before he puts the Little Prince into the will [Sustainable Personal Finance] He is rightfully concerned about the generational differences when it comes to debt [Yes I Am Cheap], and so he asked the Wise Wizard to help the Little Prince get to the Land of Financial Enlightenment. “I don’t want him to grow up all silly nilly about money! What if he marries a princess who buys purses all the time [Diva in Debt] and go broke?! I need him to be a good leader and understand investments [Grow Money]“ said the King. ”HMPH. That’s playing into gender stereotypes [My Broken Coin],” the Wise Wizard said, “but I will help the Little Prince reach his destination and understand financial matters in relationships [Busy Executive Money Blog].”

And so the Wise Wizard and the Little Prince set out on their journey. Along the way, the Wise Wizard tried to impart words of, well, wisdom to the Little Prince.

“To reach your Findependence Day [Boomer & Echo], you must overcome obstacles and learn to figure out for yourself what truly matters in life,” the Wise Wizard said. ”But I already know the 10 Commandments to Growing Wealth [Wealth and Wise],” said the Little Prince, “This will be an easy journey.”

“It is not enough to simply know, you must also act,” The Wise Wizard explained, “let me tell you about all the obstacles you will encounter.”

“Having pride in yourself and work is a good thing, but never be too proud to shop at discount stores [See Debt Run]. Along the way to Land of Financial Enlightenment, you might see alluring images of fast cars and pretty women [Saving Advice], but driving an uncool car is actually awesome [Graduating with Surplus]. If you stick to the 20% rule [Your Life, Their Life], you can help you achieve your goals more quickly.”

“But I KNOW all these obstacles already,” the Little Prince said, for he was a very smart Little Prince. “I’ve read about them in books and on blogs. I’m a great student [Humble Savers].” The Wise Wizard shook his head. You can’t just understand the numbers (although that is very important) – you have to modify your behavior [Consumerism Commentary] to make lasting change. Sometimes, you have to experience things – losing money in the stock market [Million Ways to Save], fall victim to price anchoring? [Smart on Money], co-signing a loan [Christian Debt Coach], and marrying for money [Nicole & Maggie] before you learn what works and what doesn’t.”

“Getting to Financial Enlightenment doesn’t sound much fun,” said the Little Prince, “I like to look good and enjoy my life.” ”You can!,” insists the Wise Wizard, “you can make fashion affordable [Everything Finance], you will live longer! [Squirrelers], and if you make good choices, you will be able to become a stay at home dad [Tie the Money Knot] if you wish.” The Little Prince wrinkled his nose. “But I killed my last three goldfishes,” he said. “Er, well, don’t quit your day job yet [My Money Design]!” sighed the Wise Wizard.

As the two walked and walked and walked along the road to Financial Enlightenment, they talked and talked and talked.

The Little Prince asked, “the Land of Financial Enlightenment is when I finally get RICH, right?” The Wise Wizard chuckled. “Money isn’t the only measure of success [Barbara Friedberg Personal Finance], in fact, money is just a tool. Once you build your foundations [Free Money Finance], you will be able to use money to do what you really want to do in life – whether that’s to spend more time with your future Princess, create more buildings for the royal grounds, or contribute to charity [Mrs. Nespy's World]. There are tools to help you do this: automating bill payments [Budgeting in the Fun Stuff], taking advantage of payroll tax cuts [Novel Investor], selecting a good IRA company [Qwoter], and taking advantage of no balance transfer fee credit cards [Wallet Blog].”

Finally, after many days of study, the Little Prince was ready for his important interview [Adjunctorium] with the King. The King quizzed him on all he has learned, from tax reporting forms[Nerd's Eye View], to renters and laundry fees [Start Talking Cents], to tips for easier budgeting[Money Talks Coaching], to using Google Docs spreadsheet for investing [My Journey to Millions], to making extra money [Bible Money Matters], to chargeback policy report [CardHub]. The King asked about the general economy [Narrow Bridge Finance], the local economy[Debt Black Hole], evaluating intangibles [Pinch That Penny], and when DIY works and when DIY doesn’t [DollarVersity].

The Little Prince was able to answer the King’s questions flawlessly. He gave the King the low down on RESP plans [Young & Thrifty], discussed the rules of career reinvention [Afford Anything], explained the virtues of saving paper [Funny About Money], talked about the benefits of getting a 60 month auto loan [Familyancial Wealth, listed ways to save at the gas pump[Personal Finance Success], ran over reasons why a home inspector [Happy Homeowner] is necessary, and even explained how to find jobs using social media [One Cent At A Time]. The King knew nothing about social media or SEO keywords [Mike & Molly's House], so he was very impressed indeed!

“You seemed to have learned a lot,” said the King, “I want to reward your efforts [Money Cactus].” Then the King, confident that the Little Prince can handle his finances, gifted him real estate [Investor Junkie], bonds [Dividend Growth Stocks], bond funds [Control Your Cash], and even shares of Ford stock [Dividend Monk]!

“But wait!” The Little Prince interrupted, “I haven’t told you what I REALLY learned yet.” “You haven’t?” The King was confused. “But you talked to me about knowing when to adjust your budget [Evolving Personal Finance], learning a foreign language [Darwin's Money], evaluating Betterment [Dough Roller]. You showed me how you improve your credit score [Financial Highway], save [PT Money], buy travel insurance [One Frugal Girl], and use a rewards credit card [Rewards Cards USA]. You even have the discipline to hide money — from yourself [Frugal Cool]. It sounds to me that you have achieved Financial Enlightenment.”

“All that is important,” the Little Prince admitted, “I did learn about tax forms [Free From Broke], Social Security [My Dollar Plan], Bank of America Add It Up Rewards [Financial Product Reviews], and dividend investing [Dividend Growth Investor], I learned about what happens in Chapter 11 [Prairie Eco Thrifter], when to cancel my credit card [Help Me Travel Cheap], and how to save for the holidays [Net Worth Journey]. I even learned about unconventional investment moves [Invest It Wisely]. But I don’t want to get tunnel vision when it comes to my finances [Money Beagle]. Because what the Wise Wizard taught me was that financial enlightenment is about making decisions so you can live the best life you can, and have your spending and finances reflect your priorities.”

The King smiled! The Little Prince has passed his test. He knows that the Little Prince has a bright financial future [Watson Inc], and for that he is happy. The Wise Wizard is also happy. In fact, he thought, ”Maybe I should start my own financial firm [Good Financial Cents]!”

$25 Amazon Gift Card Giveaway

Written by WellHeeled on February 19, 2012 · 3 Comments

Happy Sunday! I will be in Vegas for the next few days (where the bulk of my budget shall be spent on hotels where I can get a good night’s sleep. Because I am secretly 80). I have put together a little Amazon gift card giveaway. Please click on the permalink of the post to enter. The deadline is 12:01 am EST on March 1, 2012.

The Money Sandwich

Written by WellHeeled on February 13, 2012 · 9 Comments

Last night, CB and I were driving. R&B and rap songs were playing on the radio, and suddenly CB said, “you know what, we can build a sandwich with all the slang terms we have for money.”

Case in point:

First, you have to start with slices of bread (made from dough)… refers to basic sustenance, livelihood, to earn one’s daily bread, breadwinner

Then we add some cheddar… refers to selling foodstamps (“government cheese”) for money or the similarity in size between stacks of cheddar cheese and bills

Next, we slide in a few leaves of lettuce – refers to the green color of bills

And finally, what better meat to put into a sandwich than… BACON? bacon – as in bring home

Viola! The money sandwich.

What other terms for money can you think of? Can you build anything else with money slang?

Fess Up Friday

Written by WellHeeled on February 3, 2012 · 14 Comments

I got a traffic ticket that has yet to be paid. It’s due next month.

Taxes. They are not going to get done until March.

Even though I know they are an interest-free loan to the government, I love receiving tax refunds.

If I can go back to middle school, I’d tell my younger self that life will get better.

I look around my apartment and I see at least $300 worth of purchases that I have never used before.