Janes-List.com » Personal Finance

Get The Look for Less Online

jane — Fri, 09 Apr 2010 11:41:27 +0000

While you may be eagerly anticipating the release of Sex & the City The Movie 2, if you’re like me, you won’t be looking forward to Carrie flaunting her Louboutins in front of my Nine West-clad feet. Well, thanks to the advent of several websites, you can get Carrie’s designer looks for less. While we don’t advocate spending all of your hard-earned dough on these designer duds, the following websites can be excellent outlets for finding that dress that no one will have, that bag I never thought I’d own or those shoes I will have forever!

Ideeli and Rue La La

These private designer sample samples are open for a limited time only so that “members” can purchase clothes, accessories, home goods and more at ridiculously discounted prices. I’ve purchased from both sites successfully and found both to have terrific customer service if I encountered a problem. The best part? You get rewarded for inviting friends who shop on the sites – basically free money to spend on these swanky, stylish labels. Visit the sites and register to request a membership and start monitoring the great deals right away!

Bag, Borrow or Steal

You may remember this (not so subtle) product placement in the first Sex and the City Movie, when Carrie’s assistant, played by Jennifer Hudson, poses the very reasonable question, “why spend a fortune on a Louis Vuitton that will be out of season in a month when you can rent one?” Now, that’s the attitude of a Reformed Shopaholic! The members-only website boasts the largest collection of handbags, accessories and jewelry worldwide, online that you can borrow at prices more manageable on an assistant’s salary.

thredUP

If your closet is chock full of clothes that you never wear, or that still have labels, thredUP provides a great way to say “out with the old and in with the new!” The much hyped about service facilitates the peer-to-peer exchange of new or barely worn cloths for a minimal cost. A great way freshen your wardrobe and practice fiscal responsibility at the same time.

Photo by: flickrimagesearch

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Finance Friday: Taking it easy this Christmas

Kelly — Fri, 27 Nov 2009 22:07:35 +0000

If there’s anything good to come of this recession, it’s the opportunity to give my wallet (and sanity) a break this Christmas and get back in touch with the true meaning of the holiday.

For years I’ve fretted over what to get my family members and, of course, my husband (the guy who already has everything), burning gas driving all over town and clocking countless hours on the internet looking for deals. Oh, and let’s not forget the many nights after work spent baking goodies, decorating their packages and distributing to friends and neighbors. This year, I’m done. There is no gift out there that could really show how much I love my family and friends; I’d rather spend the time with them, instead.

With the hubby’s deployment right around the corner, I’ve decided that quality time with him takes priority over running myself ragged for things. With everyone trying to cut back on their spending, there’s no better gift Icould give my loved ones than permission to take it easy and skip the gifts this year.

Of course, I’ll still send cards; in fact, I will most likely lure the pooch to the beach and, much to his dismay, proceed to take one hundred pictures of him with a red scarf tied around his neck. Even though I’m not opting to go crazy this Christmas, don’t get me wrong; there is nothing wrong with giving gifts this year, if that’s what you’ve chosen to do. I’m just saying that, if you’re tight on cash, there isn’t anything wrong with scaling back this year. Your loved ones will still love you, nonetheless.

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Finance Friday: Save your money and join a credit union.

Kelly — Fri, 23 Oct 2009 11:16:14 +0000

If you’ve balanced your checkbook recently, chances are you’ve been hit with a few (or many) unexpected fees by your bank.

According to the Federal Deposit Insurance Corporation, fees only accounted for 3% of a bank’s earnings ten years ago. Nowadays, it’s more than half of their total income.

A great example of this is overdraft fees. Say you have $50 in your checking account and make a purchase with your debit card for $25. Two days later, a $50 check (that you forgot about) hits your account, as well. The bank will process the check first and hit you with a $30 insufficient funds fee and then process your debit card charge and hit you with another $30 fee. A simple mistake ends up costing you $60!

So, how do we escape these ridiculous fees? Not very easily, unfortunately. Unless you have a history of never taking your account into overdraft and have a great rapport with a bank employee who has the authority to reverse the charges, you’re paying the fees. Your best bet is to balance your checkbook regularly to avoid costly mistakes and take your money to a credit union.

Credit unions are non-profit banking organizations that are owned by their members. They have very few hidden fees and offer higher interest rates than most banks. Even better news is that there are a number of credit unions exclusively for military and their families. Navy Federal Credit Union, Marine Federal Credit Union and NavyArmy Federal Credit Union are a few examples.

For more information on credit unions or to find one near you, visit www.creditunion.coop

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Finance Friday: Asking for a raise in a down economy-is it possible?

Kelly — Fri, 09 Oct 2009 11:11:47 +0000

Last week as I waited to see my dentist, I flipped through an old copy of Glamour and came upon an article telling readers how to ask for a pay raise in a tough economy. This got me to thinking, is it really possible – or even appropriate- to ask for a pay raise when businesses are still laying off employees left and right? Sure, there are certainly businesses that haven’t been as affected by the recession as others, but how does one go about asking for a raise, and, more importantly, how likely is it to be granted one?

Before you go knocking on your boss’ door with the intention of asking for a raise, consider a few things. First of all, is there a hiring or salary freeze? Larger companies usually employ such actions when times are tough, but just because you may work for a small company doesn’t mean your request won’t be shot down.

Take a look around you and keep your eyes and ears open before asking. If your company has made layoffs in recent months or is on the verge of doing so, asking for a raise is a definite no-no.

Case in point: the PR company I worked for made it’s first layoffs last November. From that day on, everyone in the office was tense about any further job cuts, so it was a matter of common sense not to ask for – or expect – a raise. If you’re in the same boat at your job, now is the time to count your blessings and to step it up as much as possible to keep your head off the chopping block.

If you are still confident that you may be granted a raise, get your ducks in a row and be prepared to prove why you deserve it and how your work has benefitted the company. Has your work increased revenue or saved the company money? Have you assisted in bringing new business to the company? If you don’t have a strong case, take my advice and don’t ask for one. It’s hard enough to prove you’re worthy of a raise when the economy is good and business is booming, but quite another during a recession-especially if you don’t have the goods with which to back it up.

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Finance Friday: Saving during a deployment.

Kelly — Fri, 18 Sep 2009 16:14:24 +0000

My husband deployed shortly after our wedding, leaving me behind with a partially-furnished house and many weekends to do some major damage decorating it in his absence. I worked such long hours during the week that when Friday night came around, I’d unwind with a cocktail and visit my favorite online shops to “browse” all the pretty eye candy.

In less than two weeks, I’d racked up what was, for me, a pretty hefty credit card balance. Despite having only purchased items that were on sale or clearance, I’d still managed to spend a pretty penny on picture frames, glass drawer pulls, a bathroom mirror, brand new bedding for our guest room and much more. Now, I’ve always prided myself on being frugal, paying my credit card off in full every month and deliberating forever before making most purchases, so I was shocked when I opened my credit card statement the following month. I reasoned that my income was substantial enough to cover it, that I worked hard and deserved a little frivolity, not to mention the fact that my husband and I were saving mad cash while he was overseas. I’ve since come to learn this is a very common mistake many military wives make.

Having worked in finance for so long, I’ve seen firsthand the devastation that spending and maxing out credit cards can bring. Granted, $1000 is far from major financial devastation, however, it can certainly lead to it if not curbed early on. My husband and I were always very diligent about saving but at that time had not set a budget for monthly spending. So I figured, with my husband away, there was never a better time to set a budget for myself and work towards staying within it every month.

I know it’s difficult to stick to a budget when your husband is away, especially when his paychecks are tax-free, but ask yourself this: which would make you happier-tons of stuff or the swell in your bank account every two weeks? Setting a budget can be fun, mostly because it causes you to be creative in how you spend your money. Believe it or not, setting a budget completely changed my shopping habits. Check out how:

24-hour rule. I learned this from David Bach’s Smart Women Finish Rich: before making a purchase for anything with a price tag of more than $100, give yourself 24 hours to decide if you really need it. This worked especially well for me when I wanted another pair of Citizen jeans. Did I really need them? No. Did I cut back on other purchases, namely eating and drinking out, for a few weeks to justify them? Definitely. Sometimes a larger, unnecessary purchase can be justified if it’s within your budget and you find ways to cut back in other places.

Look for discounts. Discounts are everywhere, you just need to know where to look. Wherever I go, I always ask if there is a military discount. You’d be surprised who is willing to give you 10 or 20% off your purchase. Case in point: I was in the Outer Banks this summer at a small boutique for pets. As the cashier, who was also the owner, was ringing me up, he saw my military ID and gave me 10% off my purchase then and there.

TJMaxx, Home Goods and Marshalls are great places to find designer clothes, shoes, cooking and decorative items at discounted prices. I’m a big do-it-yourselfer and love to refinish furniture, so when I see a piece that is banged up and could use some distressing and a coat of paint, I ask for the discounted price. They are more than happy to get rid of damaged inventory and usually make a hefty price slash.

Become a member. Hugely popular websites like Haute Look and One Kings Lane are members-only shopping sites that offer wholesale and drastically discounted prices on fashion and interior decor. Items are for sale for 24-72 hours before stock is refreshed.

Get free shipping. Shoe sites like Endless.com and Zappos.com offer free overnight shipping and returns on all their inventory. If you don’t live close to a metropolitan area with decent shopping, this is a great way to get fabulous footwear at reduced prices and free shipping!

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Seven things to do before you sell your house.

Kelly — Mon, 14 Sep 2009 11:08:13 +0000

As military families many of us move around quite a bit. Some of my fellow military wives have bought and sold homes with such aplomb they can give professional realtors a real run for their money.

While buying or building a home is one thing, selling your home in a down economy and a poor housing market is quite another. My husband and I can definitely attest to this. We had no say in his change of duty station, as most of you didn’t. And while I’m excited to build our new home and live together again like a “normal” couple, I must admit I’m anxious about selling our current home.

Many homes in our neighborhood have been on the market for more than a year, mostly due to overpricing. While this gives us a bit of an advantage over our competitors (we can offer a lower price and still make a pretty penny) I still wanted our house to be perfect. Thanks to a few tips from my realtor and a lot of elbow grease, I’m confident our home will show well and (knock on wood) sell quickly once we put it on the market. Below are a few steps I took with guidance from my realtor to put our home at the top of buyers’ lists. Happy selling!

1. Clean from top to bottom. Before you considering selling your house, give your home a good cleaning. Wipe down cabinets, clean windows, sills, ceiling fans, shelves, baseboards and mouldings, your oven and the inside of your microwave; vacuum furniture, rugs and draperies, scrub baths and eliminate pet hair. You wouldn’t welcome family and friends to a dirty home and you definitely shouldn’t welcome potential buyers that way, either.

2. De-clutter. This is just as important as showing a clean house. Go through piles on counters, tables and desks; shred what you don’t need and file important documents out of buyer’s sight. Recycle old newspapers and magazines and organize shelves, closets and cabinets. Buyers will open closet doors so don’t try to stow it all in there.

3. Put away toys. Walking into a home where toys are strewn about or stacked in corners is a total turnoff for buyers. Narrow your child’s stash to a few favorites and store the rest. The same goes for pet toys. I bought a small basket for my lab’s toys which I plan to put in the closet during showings.

4. Double-check your carpeting. There are plenty of inexpensive alternatives to replacing your carpeting. We had ours stretched to get rid of rolls and then rented a steam cleaner from Ace Hardware to shampoo it, saving us thousands of dollars. If you have tough, dark stains, holes or ripping, you may, in fact have to replace, but make sure you check all other options first.

5. Paint. It’s amazing what a coat of paint can do. It gives new life to shutters, front doors, baseboards, shoe moulding and spackled spots. If you’re going to paint a room be sure to use a neutral color.

6. Add some curb appeal. The front of your house is the first thing buyers see so be sure to make a good first impression. Trim hedges, mulch flower beds, paint shutters, clean patio furniture and add some color with potted plants or flowers. You only get one chance to make a good first impression, so do it right.

7. Put away personal items. The verdict is still out on this one. Some realtors say it’s hard for buyers to imagine themselves in your home if your pictures are all over, while others believe it helps make the home feel more complete. I put most of my pictures away just to be safe but use your judgment.

Always be thinking of what potential buyers would think. Sure, you can’t control whether or not they’ll like your decor or paint colors, but those are easy for buyers to change. Put your house on display and buyers will want to make an offer!

Photo by thinkpanama

Finance Friday: New credit card rules; what are they and how they will affect you?

Kelly — Fri, 04 Sep 2009 11:17:51 +0000

August 20 marked a new day for credit card companies and consumers alike. While there are certainly advantages to the new guidelines, be aware that the changes aren’t all beneficial. There are also disadvantages, as well.

If you have a credit card, you simply can’t afford not to understand the latest federal law passed regarding your plastic. Here is a breakdown of the latest rules and how they might affect you:

Benefits

Credit card companies must give cardholders 45 days notice prior to raising their interest rates or changing fees.
Credit card bills must be sent 21 days before the due date.
Interest rate increases will only apply to future purchases, not existing balances.
Credit card companies will be prohibited from jacking up interest rates for borrowers who do not pay their bills on time.
Balances with the highest interest rates will be paid first, helping consumers to pay off their debt quicker and incur less fees.
Credit card companies must disclose the consequences of only paying the minimum balance on their bill each month. (Ladies, if you have a credit card you should definitely be well aware of this one.)

Disadvantages

Credit card companies are increasing rates faster than you can charge those new calfskin leather boots for this fall.
Due to these new terms, which prohibit banks from slamming ridiculous fees, credit card companies are becoming pickier to whom they extend credit.
Lines of credit are being cut across the board-even for borrowers who pay their bills in full each month.

It’s never been more important to be aware of what you’re being charged for having a credit card. In times of economic despair, you simply can’t afford not to. Call your credit card company for specific information pertaining to your card. You can also read more about the new rules and guidelines at www.BankRate.com.

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Finance Friday: Get your credit score in order with the Reformed Shopaholic

jane — Fri, 28 Aug 2009 11:19:56 +0000

Guest post by Miranda Harwell, Executive Director of the Community Financial Education Foundation

Lately, it seems like numbers are taking over my life. There is the dreaded number 30 that haunts me like that tuna fillet I cooked last week in an attempt to be healthy. Then there’s that annoying four digit pin number you need for just about everything (I coined my token pin for the day and month my last name will officially go back to Gregory. A glorious day, no doubt!) In this new age of technology you need a number and password for everything. We have to remember our social security number, our spouse’s social security number, phone number, cell number, bank account number (who can ever remember that?), oh and of course the date of the last day of…well, you get point. We have a lot of numbers.

This Finance Friday is dedicated to a very important number and I would be willing to bet dollars for donuts most of us do not know it. This illustrious number I speak of is known as your “credit score.” Wait! Don’t stop reading now. I promise the knowledge presented below could really save you some major coin and perhaps make your financial future smooth sailing (or at the very least, a little less nauseating.)

So here is the deal. A credit score is a complex mathematical model that evaluates many types of information in a credit file. Credit file meaning, any line of credit you have EVER been granted, your history of paying on time – cell phone, utilities etc. This score is used by a lender to help determine whether you qualify for a particular credit card, loan, or service. Most credit scores estimate the risk a company incurs by lending you money or providing a service – specifically, the likelihood that you will make payments on time in the next two to three years. Generally, the higher the score, the less risk the person represents.

In layman’s terms, this number represents your street cred. Key point: If a lender loans you money, will you pay it back?

Americans are entitled to one free credit report within a 12-month period from each of the three credit bureaus. The three major credit bureaus are: Equifax’s ScorePower, Experian’s PLUS score, and TransUnion. These three credit bureaus run www.AnnualCreditReport.com, where users can get their free credit report. If you want to know your actual credit score….well, that will cost you. Credit scores are available as an add-on feature of the report for a fee.

There are several different companies on the market these days offering to provide consumers with credit reports. Case in point, www.FreeCreditReport.com. You know the marketing ploy. The annoying guy on the guitar singing about how his credit was “whack, now he is riding in a new sub-compact.” My favorite commercial was the one where he got married and did not know his “girl’s” credit was “whack” and now they are living in her parent’s basement. I totally could have done without that one, because he already admitted in the commercial earlier that he had bad credit. Why was it her fault? Just saying.

OK, I digress: about 60 percent of people have credit scores of 700 and above. The best number to have is 720 or above. If your score is 720, there’s really no need to try and raise it because lenders lump you in the same category as folks with a score of say 800 or 820. At 720, you are viewed as a safe risk and typically receive a loan without problem and at a low interest rate. However, if your number is below 700, it’s definitely worth your while to try and pump it up.

Here is how the credit nerds determine your score:

* 35 percent Payment History: Having a history of making payments on time and no missed payments on your bills is one of the most important items lenders look for.

* 30 percent Amount Owed: This measures the amount you owe relative to the total amount of credit available. Someone closer to maxing out all their credit limits is deemed to be a higher risk of late payments in the future and this can lower their credit score.

* 15 percent Length of Credit History: In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts.

* 10 percent New Credit: Opening several new credit accounts in a short period of time can lower your credit score. Say no to the lady at the counter offering you 10% off your purchase if you open a card. Also multiple credit report inquiries can represent a greater risk, but this does NOT include any requests made by you, an employer or by a lender who does so when sending you an unsolicited, “pre-approved” credit offer. Also, to compensate for rate shopping, the score counts multiple inquiries in any 14-day period as just one inquiry.

• 10 percent Types of Credit in Use: Your mix of credit cards, retail accounts, finance company loans and mortgage loans is considered.

OK, so say you need to do a little credit score make over. The first step is admitting it, right? Here is what you can do.

You can’t raise your score overnight, but you can do so fairly quickly. The scoring formula gives more weight to recent activity. So, even six months of “good behavior” will have an impact, demonstrating that you have cleaned up your act. Because payment history comprises the largest part of your credit score, paying bills on time is obviously going to have the largest positive impact.

The fastest way to improve your score is to pay down balances. This lowers the amount of credit you’re using compared to how much credit you have available to you. Remember, scores reward people who use a smaller percentage of their available credit. Some people suggest never using more than 50 percent of your limit on any card. Avoid opening a lot of new accounts at once – this makes lenders queasy – particularly if you don’t have a long credit history. Many recommend not having more than five credit cards. If you decide to close some credit accounts, close the newer accounts first. However, don’t close more accounts than necessary because this lowers your ratio of debt to available credit.??Rotate and use all of your cards – a dormant credit account will not help your score. If you do have a late payment, it’s worth a call to the lender to see if they will remove this information from your records in a “goodwill adjustment.” You can choose to dispute the late payment report. While it’s in dispute, the item will stay on your credit report but not factor into your score. If you have a something negative on you report; be strategic. Word.

While there’s no question that having a good credit score is essential, it’s also important to point out that scores do not take your age, income, assets or employment history into account.

Accurate negative information generally can be reported for seven years, but there are exceptions:
•   Bankruptcy information can be reported for 10 years;
•    An application for more than $50,000 worth of credit or life insurance has no time limitation;
•    A lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer; and
•    Tax liens stay on 7 years from the date PAID.

The lesson learned today is this… Your credit score is an important number. You need to get your free credit report to see your history. If you are really serious, pay the extra $30 and find out your credit scores from all three agencies. If there is anything you can dispute, do it. This might take up your Friday afternoon but will be totally worth it. Your score means the difference from getting a mortgage at 5% or 11% interest. This is huge. Don’t let something minor that you can dispute affect the next seven years of your life. Mistakes happen, be proactive and get your financial ducks in a row.

And don’t forget to visit my website to sign up for my Borrow Smart America program. You can’t expect to become a reformed shopaholic until you start getting smart about the financial system and about your own financial situation. Complete the free online program and you’ll not only learn how to save, budget and repair your credit, but you’ll also qualify for a free gift – Quicken Software donated to us by Intuit to help your reformation transformation.

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Finance Friday: Save some dough and manage your college loans today!

Kelly — Fri, 21 Aug 2009 15:31:29 +0000

College graduation may have been years ago, yet many of us are still repaying the lofty loans that go along with it. Student loans may just be a fact of life but you can soften the blow of your monthly payments by consolidating multiple loans, decreasing your interest rate or changing plans. Below are a few options to decide which one will work best for you.

Lower your interest rate. It is possible, and very common, for banks to cut interest rates on student loans. Many banks, especially the larger ones, like Sallie Mae, as well as smaller, private companies will cut your interest rate from .25% to 1%. The catch? You must sign up for monthly automatic billing payments. Contact the bank holding your student loans to see how much of a reduction you can get.

Consolidate your loans. Consolidating your loans is a great way to manage your debt and decrease your chances of missing a payment. The Higher Education Act (HEA) offers a loan consolidation program that rolls a borrower’s multiple loans into one consolidated loan at a reduced interest rate. Monthly payments on consolidated loans are usually lower and the period of time you have to repay is also extended. For more information and to see if you qualify, check out http://www.loanconsolidation.ed.gov/.

Check out new payment programs. There are plans available that allow you to change the terms of your loans. Below are the two most popular plans, however, you must qualify for each and be aware that if you choose either of them it will take longer to pay them off.

Graduated repayment loans. With a graduated repayment plan, your monthly payments are lower at the start of your repayment and gradually increase over the life of the loan. You may be eligible to pay only the interest for the first four years. After that you have to catch up on the principal balance by paying higher monthly payments.

Income-sensitive loans. These payments are tied directly to your monthly gross income. Each month you pay between 4% and 25% of your income, as long as you pay at least the interest that accrues each month. Because the loan is paid more slowly you will owe more in interest over the life of the loan.

For more information about any of the above choices, check out Sallie Mae’s website to see if you qualify.

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Finance Friday: Confessions of a Reformed Shopaholic (Part Two)

jane — Fri, 07 Aug 2009 12:00:51 +0000

Guest post by Miranda Harwell, Executive Director of the Community Financial Education Foundation

I woke up Sunday knowing this week was going to be bad. First, my Blackberry died after a rainy night at the Paul McCartney concert. Monday, some nincompoop hit my car in Georgetown; thankfully his truck suffered the brunt of the damage. And today I got pulled over for turning right on red. That rent-a-cop gave me a $50 ticket. This week has been full of unexpected expenses. In my former life, this would have resulted in me selling a prized bag or piece of jewelry on eBay to make ends meet. So appropriately, the second part of my Reformed Shopaholic financial tips is meant to bring out the Scrooge in all of us.

1) Budget, baby!

Count your pennies, and the dollars will take care of themselves! This phrase comes compliments of quite possibly the wealthiest and most innovative man I know. Here is the deal – if you are serious about becoming financially sound, then taking account of exactly what your family is spending incredibly important. Budgeting your money, tracking your expenses and watching every dime, is the most certain way to be in control of your finances. Seems like a no brainer, huh? Preparing a family budget is terribly cumbersome and absolutely no fun, right? Well, not really. A budget does not have to be restrictive. It is meant to be more like a game plan- your monthly financial game plan.

Tips from a Reformed Shopaholic:

Track your expenses for a month.
Organize all those fixed expenses- mortgage/rent, utilities, car note, credit card payment, student loans, phone bill and anything else you know needs to be paid every month.
Tally your monthly net income (take home).
Estimate the costs for expenses you know are going to happen e.g. Groceries, gas, entertainment, clothing.

The best way to stay on track with your budget is to map out your financial game plan every month and WRITE IT DOWN. CFEF has a great budget worksheet that can help you get started. Check it out- www.communityfef.org

2) Saving Savvy

Recently, I read that 70% of working Americans live pay check to pay check. This honestly did not surprise me because I used to be a part of that 70%. This number obviously explains why credit card companies are eating people alive. Saving each month and setting savings goals is imperative. A good rule of thumb is to have 3 months of expenses in a cash reserve. You never know, when some idiot will hit your car, you have to buy a new $200 phone, or God forbid – you lose your job. Life happens and you have to be prepared for unforeseen events that can cost you big.

Key here: You have to set a savings goal.

Now that you have created a monthly budget, projecting potential savings will be easy. Pinch those pennies til they scream! Once you start saving, it becomes addictive. Trust me. I use Quicken to manage everything. For a free copy, go to my website www.communityfef.org and sign up.

3) Protect yourself.

Identity theft is one of the most common crimes in America. You know that commercial with the guy’s social security number posted on a billboard? I actually had the opportunity to meet Mr. Brad Davis of Life Lock several months ago at an event. Of course, the first question I asked was if that was really his social security number. Believe it or not, it is and he said you would not believe how many times crooks have tried to use it. Monitoring your credit report is very important. So important, I am making it the subject of my next Finance Friday guest column!

4) Reformed Shopaholic on Shopping.

Being a fashion plate has always been my signature, along with the red hair. Changing the way I think about fashion and shopping has been a challenge for me. But, absolutely worth it. Shopping is no longer a sport that fills my soul. I approach the event with a set spending amount, do not exceed and shop seasonally. Not weekly.

Tips from a Reformed Shopaholic:

Nothing looks as good on as buying it on sale feels. I never, ever buy anything unless it is on sale.
Trendy pieces are a waste. Odds are you will be over it in six months. Buy classic pieces that are versatile and never go out of style
Buy accessories. My favorite movie quote is from Steel Magnolias, “The only thing that separates man from apes, is our ability to accessorize.” The perfect belt, dramatic earrings a chunky necklace has the power to change your entire look (and outlook).
Save and buy a good bag. I have had the one I carry everyday for over a year and still love it. No need to change with the seasons, if you make the right purchase
Shoes/heels for me are another wasted investment. I tear through them in a month. So, I usually rack up at TJMAXX or Marshalls and never spend more that $40.

5) Take care of yourself, but don’t be a diva.

Personal grooming is a huge part of feeling good about yourself. Trimming the fat on these expenses is tough, but a must.

Tips from a Reformed Shopaholic:

Acrylic nails are out. Stop spending $50 every week to get your nails done. For me, a pedicure every couple weeks is non-negotiable, but I can save $30 and do my own nails.
Leather skin is out. Tanning beds are a waste of money and bad for your skin. I love the new tanning foams. They do not streak, and leave you with a golden tan with no chance of questionable moles.
A good stylist is a girl’s best friend. Find a reasonable one and go every 2 months. They will tell you six weeks, but you can stretch it out.
Get moving and stay moving. You will feel great about your self and look great in your clothes. Even the old ones.

Being a savvy saver, spender and investor is the most important thing you can do to invest in your future. People that have money, got there by being smart and so can you. Make your finances a priority and it will certainly make your marriage, family and you much happier. Money is not the key to happiness, but it sure makes life a lot easier.

Janes-List.com » Personal Finance

Get The Look for Less Online

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Finance Friday: Taking it easy this Christmas

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Finance Friday: Save your money and join a credit union.

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Finance Friday: Asking for a raise in a down economy-is it possible?

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Finance Friday: Saving during a deployment.

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Seven things to do before you sell your house.

Most Commented Posts

Finance Friday: New credit card rules; what are they and how they will affect you?

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Finance Friday: Get your credit score in order with the Reformed Shopaholic

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Finance Friday: Save some dough and manage your college loans today!

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