"Winning at money is 80 percent behavior and 20 percent head knowledge. Most of us know what to do, but we just don’t do it." - Dave Ramsey
Last night I started my first of a 13-week class, Financial Peace University (FPU). FPU was created by BFF Dave and is designed to help you learn how to better manage your money. This week's class spoke about savings and how it is crucial to make savings a priority.
As I've mentioned before, the first of the seven baby steps from Dave Ramsey is to start a $1000 emergency fund. Though I have worked on this baby step in the past, my plan is to restart this step and hopefully save a $1000 throughout the class. While it is said most people can do this in a month, I know that would be quite the hefty challenge to do in a month so I'm giving myself a bit more time.
For this week, we will be reading various chapters in BFF Dave's book, Financial Peace Revisited as well as creating a 'quickie budget.'
So, here are my beginning totals. According to data from the class, the average person pays down approximately $5000 of his or her debt and is able to save approximately $2000 during the duration of the class.
New emergency fund: $0
Balance on my car: $7,426.99
Balance on my student loans: $46,248.21
I challenge anyone to embark on this 13-week journey with me! Maybe you would like to create your emergency fund or would like to try to pay off a credit card. Let me know if you would like to motivate each other along the way!
My goal is to post an update from the class and updated totals every Wednesday as my class is every Tuesday through August 9th.
Showing posts with label savings. Show all posts
Showing posts with label savings. Show all posts
Wednesday, May 18, 2011
Tuesday, April 26, 2011
Beginner Couponing 101
Let me start off by saying that I, myself, am totally a beginning coupon-er :)
I LOVE that everyone enjoys seeing the deals that I get and asks me for tips. I hope that along the way, I can get better and we can all help each other be savvy, saving shoppers!
Where do I get my coupons?
There are a TON of ways to get coupons. I subscribe to the Sunday-only Washington Post. Truthfully, I receive my subscription for free (currently) because I had left over flying flyer miles from when I worked at UVA and had to fly a lot.
Aside from the Washington Post, there are ways to get them online. I'm partial to coupons.com because I access their site through Swagbucks. By printing my coupons.com from the Swagbucks website, I get 10 Swagbucks for every coupon I redeem. This has helped me get (so far) $85 FREE dollars worth of Amazon.com giftcards. If you are interested in signing up for Swagbucks, click HERE and you can sign up! If you have questions about Swagbucks, let me know!
Links to print coupons:
Coupons.com (without signing up for Swagbucks)
Smart Source
Mambo Sprouts (organic and green living ones!)
How do I get the best deals possible?
My suggestions for getting the best deals possible are really easy but can take a little bit more time. I like to check the weekly advertisements to see what is on sale, then match my coupons to the sale items.
Stores like Target and Rite Aid have their own coupons. For Target, it is as simple as going to THIS website and printing them but for Rite Aid, you do have to watch their videos HERE - but it is worth it because for both Target and Rite Aid, you can use one of their store coupons PLUS a manufacturer's coupon (also called 'stacking').
Yes, it does take some time, but I do NOT spend that much time with my couponing. A little planning can go along way! A few ways to save big: take a few minutes to check the sales paper to see what is one sale, plan your menu for the week - perhaps plan around what's on sale, see what coupons you have to go along with your sale items. That's it! You're bound to save money with just a few easy steps.
How do I organize my coupons?
I'm not gonna lie, I have a binder. I love my binder. It is just a regular, three-prong binder. I picked up the little plastic holders that hold baseball cards and use those to display my coupons. I use one pocket per coupon so that it is easy to see which coupons I have. They aren't organized alphabetically, but because I can see the coupon through the plastic, it is easy to see which items I have coupons for when I'm at the store.
I also have a smaller, accordion-type folder that is often called a 'coupon organizer' or even a check organizer. I do use that sometimes when I have coupons that are stackable so that I appear organized when I go to the store.
How do I hear about deals, super double coupon days, etc?
Social media is a beautiful thing. I follow all sorts of grocery stores (Wegmans, Harris Teeter, Bloom, Giant) through a variety of means: Twitter, Facebook and email listservs. I have a 'junk' email address that I use for shopping and list sign up so my 'real' email address isn't cluttered with sales and deals. Even if you don't get their emails or their hard-copy flyers, you can go to the grocery store websites and view their weekly ads. Also, you can create a shopping list so you'll know exactly what you are looking for when you go to the store!
Bonus information: Harris Teeter is having Super Double Coupon days starting tomorrow, Wed. April 27th through Tues. May 3rd! (The folks I follow on social media post this type of information every day! It's great!)
How do I get things for free?
I absolutely love getting things for free. A lot of companies use Facebook to advertise free items. Also, I follow a lot money saving blogs. I learned about these blogs from my little sister in my sorority - who also has her own savings blog now! From the blogs to other social media outlets, I've heard about many giveaways and it is always fun coming home to freebies in my mailbox!
A great site for free items is All You. You can sign up for their daily email and they will direct you to various to sites to sign up for the free item of the day, or give you instructions on how to receive the free thing.
Some of my favorite deal blogs (who you can also follow on Twitter and Facebook for some) include:
Money Saving Mom
Deal Seeking Mom
Smart Couponing
Living Rich with Coupons
A Happy Saver
A final suggestion for blogs/deal sites is to look up some in your area. For example, if I want deals specific for the Northern Virginia area, there are two blogs I go to:
Capitally Frugal
Coupon Cravings
Any final tips or suggestions?
Couponing can be fun and it can save you money but I advise you to proceed with caution. Yes, it might be awesome to get a lot of things for free or for pennies but unless you have the space and want to be prepared for the next 150 years, it's NOT necessary to be an extremely extreme couponer. Also, it is important to make sure you are using coupons for items you need or would be purchasing without the coupon. If you buy something just because you have a coupon and you don't use the item, you have lost money.
Also, from a nutritional stand point, make sure those foods you buy with coupons aren't overly processed; it can be so easy to get sucked into purchasing foods that aren't high quality because you have a coupon.
As I get better in my couponing, I'll post follow-up posts but for now: What do you think? How can we help each other become savvy, smart shoppers? Feel free to post suggestions below!
I LOVE that everyone enjoys seeing the deals that I get and asks me for tips. I hope that along the way, I can get better and we can all help each other be savvy, saving shoppers!
Where do I get my coupons?
There are a TON of ways to get coupons. I subscribe to the Sunday-only Washington Post. Truthfully, I receive my subscription for free (currently) because I had left over flying flyer miles from when I worked at UVA and had to fly a lot.
Aside from the Washington Post, there are ways to get them online. I'm partial to coupons.com because I access their site through Swagbucks. By printing my coupons.com from the Swagbucks website, I get 10 Swagbucks for every coupon I redeem. This has helped me get (so far) $85 FREE dollars worth of Amazon.com giftcards. If you are interested in signing up for Swagbucks, click HERE and you can sign up! If you have questions about Swagbucks, let me know!
Links to print coupons:
Coupons.com (without signing up for Swagbucks)
Smart Source
Mambo Sprouts (organic and green living ones!)
How do I get the best deals possible?
My suggestions for getting the best deals possible are really easy but can take a little bit more time. I like to check the weekly advertisements to see what is on sale, then match my coupons to the sale items.
Stores like Target and Rite Aid have their own coupons. For Target, it is as simple as going to THIS website and printing them but for Rite Aid, you do have to watch their videos HERE - but it is worth it because for both Target and Rite Aid, you can use one of their store coupons PLUS a manufacturer's coupon (also called 'stacking').
Yes, it does take some time, but I do NOT spend that much time with my couponing. A little planning can go along way! A few ways to save big: take a few minutes to check the sales paper to see what is one sale, plan your menu for the week - perhaps plan around what's on sale, see what coupons you have to go along with your sale items. That's it! You're bound to save money with just a few easy steps.
How do I organize my coupons?
I'm not gonna lie, I have a binder. I love my binder. It is just a regular, three-prong binder. I picked up the little plastic holders that hold baseball cards and use those to display my coupons. I use one pocket per coupon so that it is easy to see which coupons I have. They aren't organized alphabetically, but because I can see the coupon through the plastic, it is easy to see which items I have coupons for when I'm at the store.
I also have a smaller, accordion-type folder that is often called a 'coupon organizer' or even a check organizer. I do use that sometimes when I have coupons that are stackable so that I appear organized when I go to the store.
How do I hear about deals, super double coupon days, etc?
Social media is a beautiful thing. I follow all sorts of grocery stores (Wegmans, Harris Teeter, Bloom, Giant) through a variety of means: Twitter, Facebook and email listservs. I have a 'junk' email address that I use for shopping and list sign up so my 'real' email address isn't cluttered with sales and deals. Even if you don't get their emails or their hard-copy flyers, you can go to the grocery store websites and view their weekly ads. Also, you can create a shopping list so you'll know exactly what you are looking for when you go to the store!
Bonus information: Harris Teeter is having Super Double Coupon days starting tomorrow, Wed. April 27th through Tues. May 3rd! (The folks I follow on social media post this type of information every day! It's great!)
How do I get things for free?
I absolutely love getting things for free. A lot of companies use Facebook to advertise free items. Also, I follow a lot money saving blogs. I learned about these blogs from my little sister in my sorority - who also has her own savings blog now! From the blogs to other social media outlets, I've heard about many giveaways and it is always fun coming home to freebies in my mailbox!
A great site for free items is All You. You can sign up for their daily email and they will direct you to various to sites to sign up for the free item of the day, or give you instructions on how to receive the free thing.
Some of my favorite deal blogs (who you can also follow on Twitter and Facebook for some) include:
Money Saving Mom
Deal Seeking Mom
Smart Couponing
Living Rich with Coupons
A Happy Saver
A final suggestion for blogs/deal sites is to look up some in your area. For example, if I want deals specific for the Northern Virginia area, there are two blogs I go to:
Capitally Frugal
Coupon Cravings
Any final tips or suggestions?
Couponing can be fun and it can save you money but I advise you to proceed with caution. Yes, it might be awesome to get a lot of things for free or for pennies but unless you have the space and want to be prepared for the next 150 years, it's NOT necessary to be an extremely extreme couponer. Also, it is important to make sure you are using coupons for items you need or would be purchasing without the coupon. If you buy something just because you have a coupon and you don't use the item, you have lost money.
Also, from a nutritional stand point, make sure those foods you buy with coupons aren't overly processed; it can be so easy to get sucked into purchasing foods that aren't high quality because you have a coupon.
As I get better in my couponing, I'll post follow-up posts but for now: What do you think? How can we help each other become savvy, smart shoppers? Feel free to post suggestions below!
Friday, April 15, 2011
Financial Peace University - Officially Registered!
I am super excited! I registered for BFF Dave's Financial Peace University (FPU) Friday! The instructor had an extra kit so I was able to pick it up ahead of the start of our class!
FPU runs for 13 weeks starting in May! Woo hoo!
Wednesday, April 13, 2011
New Tires! BFF Dave would approve.
So today, April 13th 2011, I am getting new tires on my kia sportage.
Why on earth is this important?
It's quite the accomplishment really. Since around October/November, I've been on a crusade to save money, reduce spending and payoff debt. It - in one word - sucks. It's hard, it makes life even more difficult than it already was and it can sometimes be frustrating.
Today is one of those moments where I feel like my hard work is paying off. New tires are not cheap. Peter put a little bit towards them because he wanted to make sure I had very good, very safe tires but I saved $530. I DID IT. For three months, I've tucked away $10 here or $20 there. Our tax return was small, but we decided to put that towards the tires. Whenever I spent under my budget on groceries or other things for the month, that went towards my tires. Instead of buying a new shirt or new pants, I threw that money towards my tires. Whenever I had any spare money at all, it went into my "Tire Fund" envelope.
Other than housing or the down payment on my car, these tires are probably the largest purchase (in terms of the amount of money) that I have made. I know that perhaps $530 doesn't sound like that much money, but to me, it's a mini-fortune! AND I SAVED IT!
The best part about it, is that I paid cash for new tires without having to add to my enormous amount of debt - woo hoo! Yay! This is my first of hopefully many 'paying cash' milestones :)
I *really* needed this accomplishment because I've been really down the past week. I started last week with two additional sources of income. While not much, they did provide a nice little bit of padding for my savings account. This week, both of those side jobs have ended - which is fine. We are going to be ok; these jobs were helping to fund my next savings goal ($2000 saved) so it will just take me a little bit longer to get there.
Another thought that weighed heavily on my mind was the possible government shutdown. Neither Peter or I work for the government; however, most of his customers where he works are government contractors or employees. If they had shutdown, it is highly likely Peter's income would have suffered.
But it made me question how would we survive if either of us either lost our jobs or if we were laid off for an undetermined amount of time? It is a really scary thought! My goal after reaching the $2000 saved mark is to try and get enough in savings that we would have one-month of expenses stowed away for our emergency fund. I know that BFF Dave wants you to have your debt paid off before working on your three to six month emergency fund, but life is way too uncertain and we must all be prepared for the unexpected.
So, more cuts will be made to my budget. Through couponing, planning ahead and looking at various grocery store sales, my goal for the rest of April is to trim $30 each week off of our grocery budget which would lower our grocery budget each week to $50. It will be a challenge, but through savvy shopping and proper planning it is totally doable!
Goals for the remainder of April:
1. Register and pay for BFF Dave's Financial Peace University class being offered in Leesburg starting in May.
2. Cut grocery budget by $30 the last two weeks of grocery shopping for April thus allowing me to pay for said class.
3. Using the final round of paychecks from the side jobs to reach $2000 goal.
4. Plan out May's budget.
I can do this. I will do this. And again, I do apologize if I seem boring or ridiculous about saving money. I'm just so determined to be debt-free by the time I'm 35...and considering I have approximately $55,000 (remainder on car + student loans), I have a looooong way to go. I refuse to waste money right now.
Everything I spend money has a line item in my budget. If it's not in the budget, it doesn't happen. You may be thinking, but Ashley if you are saving money, the doesn't that mean you can spend it? ABSOLUTELY NOT! Emergency funds are intended for emergencies, not for going out with friends, new clothes, shoes, random things that look nice. Emergency funds are there when true catastrophes happen (job loss, death in the family, major illness). If you don't have an emergency fund, I highly suggest you start one. BFF Dave suggests a $1000 fund to start (or even $500 depending on your monthly income and expenses). Currently, we live paycheck to paycheck. If either of us were to miss out on a paycheck, our ability to pay our bills would be jeopardized so trust me when I say this: if we can get an emergency fund, you can too!
Looking for ways to save money? Perhaps some of these thoughts will help:
Do you really need cable? Internet? Nope. (We don't.) Those are luxuries, not necessitates.
Do you really need to spend a ton of money on groceries? Nope. Be a smart shopper!
Do you really need a fancy coffee drink every morning? Nope. You will survive. I promise.
Do you really need a new pair of pants? Nope. There will be plenty of clothes to purchase - when you are out of debt.
Also? Every time I feel discouraged or feel like I'm not getting anywhere, I'll just look at those new tires and receive an instant dose of encouragement.
Why on earth is this important?
It's quite the accomplishment really. Since around October/November, I've been on a crusade to save money, reduce spending and payoff debt. It - in one word - sucks. It's hard, it makes life even more difficult than it already was and it can sometimes be frustrating.
Today is one of those moments where I feel like my hard work is paying off. New tires are not cheap. Peter put a little bit towards them because he wanted to make sure I had very good, very safe tires but I saved $530. I DID IT. For three months, I've tucked away $10 here or $20 there. Our tax return was small, but we decided to put that towards the tires. Whenever I spent under my budget on groceries or other things for the month, that went towards my tires. Instead of buying a new shirt or new pants, I threw that money towards my tires. Whenever I had any spare money at all, it went into my "Tire Fund" envelope.
Other than housing or the down payment on my car, these tires are probably the largest purchase (in terms of the amount of money) that I have made. I know that perhaps $530 doesn't sound like that much money, but to me, it's a mini-fortune! AND I SAVED IT!
The best part about it, is that I paid cash for new tires without having to add to my enormous amount of debt - woo hoo! Yay! This is my first of hopefully many 'paying cash' milestones :)
I *really* needed this accomplishment because I've been really down the past week. I started last week with two additional sources of income. While not much, they did provide a nice little bit of padding for my savings account. This week, both of those side jobs have ended - which is fine. We are going to be ok; these jobs were helping to fund my next savings goal ($2000 saved) so it will just take me a little bit longer to get there.
Another thought that weighed heavily on my mind was the possible government shutdown. Neither Peter or I work for the government; however, most of his customers where he works are government contractors or employees. If they had shutdown, it is highly likely Peter's income would have suffered.
But it made me question how would we survive if either of us either lost our jobs or if we were laid off for an undetermined amount of time? It is a really scary thought! My goal after reaching the $2000 saved mark is to try and get enough in savings that we would have one-month of expenses stowed away for our emergency fund. I know that BFF Dave wants you to have your debt paid off before working on your three to six month emergency fund, but life is way too uncertain and we must all be prepared for the unexpected.
So, more cuts will be made to my budget. Through couponing, planning ahead and looking at various grocery store sales, my goal for the rest of April is to trim $30 each week off of our grocery budget which would lower our grocery budget each week to $50. It will be a challenge, but through savvy shopping and proper planning it is totally doable!
Goals for the remainder of April:
1. Register and pay for BFF Dave's Financial Peace University class being offered in Leesburg starting in May.
2. Cut grocery budget by $30 the last two weeks of grocery shopping for April thus allowing me to pay for said class.
3. Using the final round of paychecks from the side jobs to reach $2000 goal.
4. Plan out May's budget.
I can do this. I will do this. And again, I do apologize if I seem boring or ridiculous about saving money. I'm just so determined to be debt-free by the time I'm 35...and considering I have approximately $55,000 (remainder on car + student loans), I have a looooong way to go. I refuse to waste money right now.
Everything I spend money has a line item in my budget. If it's not in the budget, it doesn't happen. You may be thinking, but Ashley if you are saving money, the doesn't that mean you can spend it? ABSOLUTELY NOT! Emergency funds are intended for emergencies, not for going out with friends, new clothes, shoes, random things that look nice. Emergency funds are there when true catastrophes happen (job loss, death in the family, major illness). If you don't have an emergency fund, I highly suggest you start one. BFF Dave suggests a $1000 fund to start (or even $500 depending on your monthly income and expenses). Currently, we live paycheck to paycheck. If either of us were to miss out on a paycheck, our ability to pay our bills would be jeopardized so trust me when I say this: if we can get an emergency fund, you can too!
Looking for ways to save money? Perhaps some of these thoughts will help:
Do you really need cable? Internet? Nope. (We don't.) Those are luxuries, not necessitates.
Do you really need to spend a ton of money on groceries? Nope. Be a smart shopper!
Do you really need a fancy coffee drink every morning? Nope. You will survive. I promise.
Do you really need a new pair of pants? Nope. There will be plenty of clothes to purchase - when you are out of debt.
Also? Every time I feel discouraged or feel like I'm not getting anywhere, I'll just look at those new tires and receive an instant dose of encouragement.
Friday, March 11, 2011
“Your actions should show you care about money by learning something about it.” - BFF Dave
Why is saving money, being on a budget and working towards your goals so difficult?
Because it causes you to stare at yourself, criticize your habits and realize that you – yes you – made and continue to make really, really bad decisions. No one WANTS to be criticized and told that he or she is doing things incorrectly, but to make serious changes it is a necessary evil.
I am really struggling this month and I’m not quite sure why. I have done a fairly good job of saying no, putting money into savings and being a better budgeter but this month has been disastrous. It is also frustrating knowing how hard I’m working and not seeing that reflected in my bank account.
BFF Dave says to do whatever you have to do to take in extra income when you are going through his baby steps plan. I’ve already started a part-time job one day a week, but I briefly considered picking up a second shift at the gym on Wednesday nights, but after one evening shift I was so sore, so cranky and so tired that the extra money didn’t make up for how awesome I felt. Sorry, BFF Dave…
BFF Dave also says that fixing your financial plan is 80% behavior and 20% knowledge and I truly believe that. I know WHAT I need to do, I need to actually do it. It’s like saying you want to lose weight, but not changing any of your behaviors. You can’t lose 20 pounds and still eat fried foods, drink sugary drinks and eat massive portions daily. I can’t save money and pay down my debt if I lose focus and start falling back into some old traps.
Saving money + paying off debt = happiness (and a house in the future.)
Spending money frivolously + not paying down debt faster = failure (and no house in the future.)
I choose happiness over failure.
So, here’s what I’m going to work on this weekend:
-Organize my coupons.
-Plan my menu for the week and make a grocery list.
-ONLY buy items on said grocery list.
-Figure out the budget for April.
-Figure out the budget for the rest of March.
-Change direct deposit form for work so that $25 automatically goes into savings.
-De-clutter and go through items to see if anything could be sold at a consignment shop or on Amazon.
Final quote from BFF Dave, “I am not against the enjoyment of money. What I am against is spending money when you do not have money to being with.”
Tuesday, January 4, 2011
An Open Letter to College Students (And Anyone Who is Currently Re-Paying Student Loans)
Dear Bright-Eyed and Bushy-Tailed Future (and Current) College Students:
Congratulations! You have just embarked, or are currently embarking on the new American dream - go to college for 4-to-6 years then spend the next 30 years (give or take) paying for your education through a series of jobs that don't pay you nearly what you thought you would be making when you started that first day of your glorious college career.
The real world? It's not so full of roses and rainbows. It's often full of rain in the form of debt, fixed and variable rates and overwhelming interest.
Let me paint you a pretty little picture. At 17, I graduated from high school with enough credits from our local community college to start my university career with second year student classification. I graduated with my bachelor's degree in communication studies in three years instead of the traditional four. I jumped right into a two-year master's program and by the time I was 22, I had two degrees from a very prestigious university (hint: GO HOKIES!).
Fast forward to age 26. I've been repaying my loans on an off since 2008. It's 2011. How have I done? Well, my loan amount started at $44,335.46 and my current payoff amount if I wrote the Department of Education a check between now and January 14, is $46,575.12. I'd say I'm doing pretty lousy.
I was "lucky" to get my interest rate locked in at 5.375%; however, let me break it down for you by the REALLY scary numbers: it will take a total of 351 months - or 29 years and four months - for me to re-pay my student loans, in the end I will pay a grand total of $94,458.50 and of that total, $48,228.96 of it will be in...interest. The awful, ugly truth is that in the when it is all said and hopefully done, I will end up paying MORE in interest than the original amount of my loan. Can we say, punch in the stomach? Yup.
Oh? One more number for you - if I'm lucky, the education that I started at the youthful age of 17 will be paid off when I'm 53. Did I mention that I'm currently 26?
I should also let you know that I was an instate student at a public institution. For those of you either out of state, at a private school - or worse, both, - I'm truly sorry for the shock you will receive when you open your letter(s) from various loan agencies (private and/or federal) and see the ginormous amount of money you are expected to pay back to those organizations.
Do I believe in the college education? Absolutely! My master's degree is in higher education and student sffairs aka I love college and college students (and may be going back for a doctoral degree; what can I say? I'm a glutton for punishment).
Why am I writing this? Well, for one, my mother wanted me to relay the hard truth to my 15-year-old little brother about why it is important to start saving for college, work hard for scholarships, etc. And two, because this particular blog? Right here? This is the part that many students forget, don't know about or like to pretend won't happen. Check your memory, now you can't say you didn't know and for the record, it will happen. Whether you defer your loan, get them into forbearance or worst of all default on your them, they are the big, pink elephant in the room that no one likes to talk about. Start talking.
Best,
-A slightly disgruntled, deep-in-student-loan-debt-yet-well-educated former wide-eyed and bushy-tailed future college student who is now living in the 'real' world
Oh, and p.s. - because what good is a rambling letter of disgruntled-ness without a few ways to fix your problem before they become overwhelming?
If I had to do it all over again, I would more than likely remember the following:
-Live on campus. All four to six years. Why? No utility bills and it cuts down on your gas money.
-ONLY take what you need to borrow. If you are offered $10,000 worth of aid but only need $8,000 only take $8,000. Sure, that extra $2,000 sounds nice and a little wiggle room would be good, but do you really want to end up paying nearly $4,000 for only getting use out of half of that amount?
-In a related suggestion, get a part-time job. Yes, it will stink not being able to go to certain parties, but it will be worth it to start paying your student loans as soon as you start receiving the aid.
-In the summers and breaks, work as many hours as you can at various jobs and save the money. It is tempting to spend the money you earned, but it might make more sense to use that money to pay for college AND you might not need to take out as much aid.
-Using various websites for book ordering might save you money on supplies.
Congratulations! You have just embarked, or are currently embarking on the new American dream - go to college for 4-to-6 years then spend the next 30 years (give or take) paying for your education through a series of jobs that don't pay you nearly what you thought you would be making when you started that first day of your glorious college career.
The real world? It's not so full of roses and rainbows. It's often full of rain in the form of debt, fixed and variable rates and overwhelming interest.
Let me paint you a pretty little picture. At 17, I graduated from high school with enough credits from our local community college to start my university career with second year student classification. I graduated with my bachelor's degree in communication studies in three years instead of the traditional four. I jumped right into a two-year master's program and by the time I was 22, I had two degrees from a very prestigious university (hint: GO HOKIES!).
Fast forward to age 26. I've been repaying my loans on an off since 2008. It's 2011. How have I done? Well, my loan amount started at $44,335.46 and my current payoff amount if I wrote the Department of Education a check between now and January 14, is $46,575.12. I'd say I'm doing pretty lousy.
I was "lucky" to get my interest rate locked in at 5.375%; however, let me break it down for you by the REALLY scary numbers: it will take a total of 351 months - or 29 years and four months - for me to re-pay my student loans, in the end I will pay a grand total of $94,458.50 and of that total, $48,228.96 of it will be in...interest. The awful, ugly truth is that in the when it is all said and hopefully done, I will end up paying MORE in interest than the original amount of my loan. Can we say, punch in the stomach? Yup.
Oh? One more number for you - if I'm lucky, the education that I started at the youthful age of 17 will be paid off when I'm 53. Did I mention that I'm currently 26?
I should also let you know that I was an instate student at a public institution. For those of you either out of state, at a private school - or worse, both, - I'm truly sorry for the shock you will receive when you open your letter(s) from various loan agencies (private and/or federal) and see the ginormous amount of money you are expected to pay back to those organizations.
Do I believe in the college education? Absolutely! My master's degree is in higher education and student sffairs aka I love college and college students (and may be going back for a doctoral degree; what can I say? I'm a glutton for punishment).
Why am I writing this? Well, for one, my mother wanted me to relay the hard truth to my 15-year-old little brother about why it is important to start saving for college, work hard for scholarships, etc. And two, because this particular blog? Right here? This is the part that many students forget, don't know about or like to pretend won't happen. Check your memory, now you can't say you didn't know and for the record, it will happen. Whether you defer your loan, get them into forbearance or worst of all default on your them, they are the big, pink elephant in the room that no one likes to talk about. Start talking.
Best,
-A slightly disgruntled, deep-in-student-loan-debt-yet-well-educated former wide-eyed and bushy-tailed future college student who is now living in the 'real' world
Oh, and p.s. - because what good is a rambling letter of disgruntled-ness without a few ways to fix your problem before they become overwhelming?
If I had to do it all over again, I would more than likely remember the following:
-Live on campus. All four to six years. Why? No utility bills and it cuts down on your gas money.
-ONLY take what you need to borrow. If you are offered $10,000 worth of aid but only need $8,000 only take $8,000. Sure, that extra $2,000 sounds nice and a little wiggle room would be good, but do you really want to end up paying nearly $4,000 for only getting use out of half of that amount?
-In a related suggestion, get a part-time job. Yes, it will stink not being able to go to certain parties, but it will be worth it to start paying your student loans as soon as you start receiving the aid.
-In the summers and breaks, work as many hours as you can at various jobs and save the money. It is tempting to spend the money you earned, but it might make more sense to use that money to pay for college AND you might not need to take out as much aid.
-Using various websites for book ordering might save you money on supplies.
Friday, December 10, 2010
Week Five: Lots o' Links!
AH! Life gets in the way of the best of plans doesn't it? I missed a couple of updates, but things have been moving slowly...
Fitness/Weight Loss
I am going to the gym - woo hoo! I actually went to a zumba class a week ago and l-o-v-e-d it! I am trying to find a place to take a cheaper class. The gym I went to didn't offer a pass just for classes, which is a bummer because I don't need a whole gym membership since we have a gym in our apartment complex. I do most of my fitness/weight loss updating on my that's fit blog, which can be accessed here:
http://www.thatsfit.com/bloggers/ashley-wisniewski/
Organization
I cleaned out my closet and it was amazing. Our apartment is tiiiiiiiny. Tiny. Small. Really small, but it works for us. Also, Peter once had a customer that said, "to live like no one else, you must live like no one else." We are willing to make sacrifices now so that we can afford a house hopefully in a few years...more on that later. So, since our apartment is tiny, we don't have actual dressers. You can imagine how difficult this is for me, so my closet needed some major help. It looks ten times better and it's easier to find clothes (imagine that...).
Savings
So, yes, we'd like to buy a house. When? Who knows. Considering we don't have the money for a down payment, it's not likely to be anytime in the near future. Sigh. Oh well, we have been working our tails off figuring out how to cut costs. One way has been to use Swagbucks. I LOVE it. I have been using it since October and just redeemed my 'swagbucks' for my 8th $5 amazon giftcard so that means I've made $40 just by surfing the net, answering a few surveys, etc. If you are interested, the link is:
Also, at the suggestion of my fabulous and spending-savvy little sister in my sorority, I opened an INGdirect online savings account which has a higher interest rate. If you are interested in opening an account, let me know! I can send you a referral link and if you use the link to sign-up (plus have an initial deposit of $250 you leave in there for at least 30 days), you can get a bonus $25! It's really a great way to earn higher interest on your savings, and for you to make $25 - for free!
Now, I have three "piles" of savings opened that just need to be funded: 6 months emergency savings fund, a down payment for a house savings fund and an everyday savings fund. I am about $60 behind my savings goals for where I needed to be this week. I have it mapped out how much I need to save each week to meet my goal for the year so I "owe" myself a little bit of money. Though I am behind, I am 8.5% towards my goal so I am closing in on being 10% there! Woo hoo!
Also, I must give a recommendation to go to my little sister's savings blog! Make sure to visit:
http://ahappysaver.com/ for great tips, recommendations, savings tips and coupons!
Education
Not much has happened on the education front. I did send my advisor from grad school an email putting the bug in his ear for a potential recommendation letter. I will work on my resume as well as personal statement during December/January and get that uploaded asap. Also, I need to request my transcripts. I will feel very accomplished when I have finished the application process.
Reading
I am now three books down:
-Dexter in the Dark (Jeff Lindsey)
-Bright Lights, Big Ass (Jen Lancaster)
-Heart of the Matter (Emily Giffin)
I absolutely adore Jen Lancaster. She is HIL-arious. And she reminds me of, well, me. No, seriously. We have the same birthday, love pearls, our signature scent is even the same (J'Adore Dior) AND we are members of the same sorority (Pi Beta Phi). Her first book is Bitter is the New Black. I assure you that you will love her! Visit her website at: http://www.jennsylvania.com/
Another one of my favorite author's is Emily Giffin. I'm thrilled that they are making a movie out of her first book (Something Borrowed). I literally read Heart of the Matter in one day because I needed to know how the story ended. It was simply wonderful. You can read more about the lovely and talented Emily Giffin at her website: http://www.emilygiffin.com/
I'm currently reading the fourth Dexter book and also started a random book that I found at a book sale, Lost and Found.
Speaking of Books...
Yikes. NaNoWriMo came. And went. And all I wrote were approximately 6,000 words. That's ok. Getting started was part one. Now there isn't any pressure and I have another ten months to create characters and a manuscript I can enjoy.
Until next week!
Fitness/Weight Loss
I am going to the gym - woo hoo! I actually went to a zumba class a week ago and l-o-v-e-d it! I am trying to find a place to take a cheaper class. The gym I went to didn't offer a pass just for classes, which is a bummer because I don't need a whole gym membership since we have a gym in our apartment complex. I do most of my fitness/weight loss updating on my that's fit blog, which can be accessed here:
http://www.thatsfit.com/bloggers/ashley-wisniewski/
Organization
I cleaned out my closet and it was amazing. Our apartment is tiiiiiiiny. Tiny. Small. Really small, but it works for us. Also, Peter once had a customer that said, "to live like no one else, you must live like no one else." We are willing to make sacrifices now so that we can afford a house hopefully in a few years...more on that later. So, since our apartment is tiny, we don't have actual dressers. You can imagine how difficult this is for me, so my closet needed some major help. It looks ten times better and it's easier to find clothes (imagine that...).
Savings
So, yes, we'd like to buy a house. When? Who knows. Considering we don't have the money for a down payment, it's not likely to be anytime in the near future. Sigh. Oh well, we have been working our tails off figuring out how to cut costs. One way has been to use Swagbucks. I LOVE it. I have been using it since October and just redeemed my 'swagbucks' for my 8th $5 amazon giftcard so that means I've made $40 just by surfing the net, answering a few surveys, etc. If you are interested, the link is:
Also, at the suggestion of my fabulous and spending-savvy little sister in my sorority, I opened an INGdirect online savings account which has a higher interest rate. If you are interested in opening an account, let me know! I can send you a referral link and if you use the link to sign-up (plus have an initial deposit of $250 you leave in there for at least 30 days), you can get a bonus $25! It's really a great way to earn higher interest on your savings, and for you to make $25 - for free!
Now, I have three "piles" of savings opened that just need to be funded: 6 months emergency savings fund, a down payment for a house savings fund and an everyday savings fund. I am about $60 behind my savings goals for where I needed to be this week. I have it mapped out how much I need to save each week to meet my goal for the year so I "owe" myself a little bit of money. Though I am behind, I am 8.5% towards my goal so I am closing in on being 10% there! Woo hoo!
Also, I must give a recommendation to go to my little sister's savings blog! Make sure to visit:
http://ahappysaver.com/ for great tips, recommendations, savings tips and coupons!
Education
Not much has happened on the education front. I did send my advisor from grad school an email putting the bug in his ear for a potential recommendation letter. I will work on my resume as well as personal statement during December/January and get that uploaded asap. Also, I need to request my transcripts. I will feel very accomplished when I have finished the application process.
Reading
I am now three books down:
-Dexter in the Dark (Jeff Lindsey)
-Bright Lights, Big Ass (Jen Lancaster)
-Heart of the Matter (Emily Giffin)
I absolutely adore Jen Lancaster. She is HIL-arious. And she reminds me of, well, me. No, seriously. We have the same birthday, love pearls, our signature scent is even the same (J'Adore Dior) AND we are members of the same sorority (Pi Beta Phi). Her first book is Bitter is the New Black. I assure you that you will love her! Visit her website at: http://www.jennsylvania.com/
Another one of my favorite author's is Emily Giffin. I'm thrilled that they are making a movie out of her first book (Something Borrowed). I literally read Heart of the Matter in one day because I needed to know how the story ended. It was simply wonderful. You can read more about the lovely and talented Emily Giffin at her website: http://www.emilygiffin.com/
I'm currently reading the fourth Dexter book and also started a random book that I found at a book sale, Lost and Found.
Speaking of Books...
Yikes. NaNoWriMo came. And went. And all I wrote were approximately 6,000 words. That's ok. Getting started was part one. Now there isn't any pressure and I have another ten months to create characters and a manuscript I can enjoy.
Until next week!
Friday, November 19, 2010
Week Two Update for You :)
Well at least in terms of writing headlines/blog titles, I'm creative. Elsewhere, the creativity is about a big fat zero. Week two went a whole lot like week one...this is a trend that must stop in week three!
Fitness/Weight Loss
Next topic. Though, I did work out at least twice and look forward to working out at least twice between now and Monday (although that would count for week three).
Organization
I spent quite a bit of time organizing my office this week. At my previous job, we had a presentation on 'customer service' and how it related to higher education. In the presentation, the presenter had mentioned that our work space should be neat, organized and presentable. I remember the room filling with laughter. I put away files, organized my bookshelf and straightened out my desk drawers. It actually looks and feels like a grown-up office - minus those big, fake flowers sitting on my desk...and the pink picture boards...and the Pi Phi/Virginia Tech memorabilia...but you get the point :)
Savings
I am so proud of myself! I was paid this week and went through and paid the necessary bills. I then took out cash (yes, Mom, cash!) and put into individual envelopes: groceries, gas, spending money.
While I didn't stay perfectly within my range, I was able to put an extra bit of money into savings. I am at 5% towards my savings goal for the year and on a (hopefully) good track!
Education
I met with the graduate admissions counselor today. The biographical portion of my application is complete. Next will be to request transcripts, recommendation letters and to complete a personal essay. While the program I want to do won't have an actual new cohort until 2012, I can apply and hopefully be accepted to the program and take classes towards my concentration. So, if all goes right, I'll be taking classes in the fall of 2011.
Reading
Fail. Big fail. I didn't finish my first book yet, so I'm officially behind. I will finish my Dexter book this weekend and start either the fourth Dexter book or another book. I am waiting on a Jen Lancaster book to arrive; I thought it would have been here by now. Grr.
Book
Fail. Epic fail. I haven't written one flippin' word on that piece. Sigh...
Alright. So, sometimes it takes a bit of time to get started. Maybe I needed to (very) slowly build momentum so that I have a rockin' week three?
Fitness/Weight Loss
Next topic. Though, I did work out at least twice and look forward to working out at least twice between now and Monday (although that would count for week three).
Organization
I spent quite a bit of time organizing my office this week. At my previous job, we had a presentation on 'customer service' and how it related to higher education. In the presentation, the presenter had mentioned that our work space should be neat, organized and presentable. I remember the room filling with laughter. I put away files, organized my bookshelf and straightened out my desk drawers. It actually looks and feels like a grown-up office - minus those big, fake flowers sitting on my desk...and the pink picture boards...and the Pi Phi/Virginia Tech memorabilia...but you get the point :)
Savings
I am so proud of myself! I was paid this week and went through and paid the necessary bills. I then took out cash (yes, Mom, cash!) and put into individual envelopes: groceries, gas, spending money.
While I didn't stay perfectly within my range, I was able to put an extra bit of money into savings. I am at 5% towards my savings goal for the year and on a (hopefully) good track!
Education
I met with the graduate admissions counselor today. The biographical portion of my application is complete. Next will be to request transcripts, recommendation letters and to complete a personal essay. While the program I want to do won't have an actual new cohort until 2012, I can apply and hopefully be accepted to the program and take classes towards my concentration. So, if all goes right, I'll be taking classes in the fall of 2011.
Reading
Fail. Big fail. I didn't finish my first book yet, so I'm officially behind. I will finish my Dexter book this weekend and start either the fourth Dexter book or another book. I am waiting on a Jen Lancaster book to arrive; I thought it would have been here by now. Grr.
Book
Fail. Epic fail. I haven't written one flippin' word on that piece. Sigh...
Alright. So, sometimes it takes a bit of time to get started. Maybe I needed to (very) slowly build momentum so that I have a rockin' week three?
Friday, November 12, 2010
Weekly Update: Numero Uno
Well, my first week of 26-year-old-awesomeness wasn't exactly full of awesome or productivity.
While I have 10 goals, I've organized them based on themes for the purpose of my weekly updates.
Fitness/Weight Loss
I did work out twice this week - even ran 1.5 mi...at one time, woo hoo! I am almost halfway to my 5k distance! However, the scale was not my friend and it reflected a gain, not a loss. Boo.
Organization
In terms of organizing my life, I did start to organize my recipes and my office - yay! Hopefully I'll have most of my recipes organized by the end of this weekend, and I will clean out my expired coupons, cut new ones, etc. I am going to be putting together a lengthy shopping list for healthy foods for my grocery shopping trip on Monday.
Savings
I 'saved' a whole, whopping $5.10 this week bringing my total saved to $80.36. Yay? And honestly, that was only "saved" because of a program through my bank. It's cool because when I make a purchase, they automatically take the leftover-amount-to-equal-100 and deposit it into my savings account. For example, if I make a $4.50 purchase, they round the purchase to $5. They don't 'give' me the 50 cents, but they take it from my checking account and put it into my savings account. I enjoy it. On the bright side, I'm nearly 2% towards my goal. Ha. Oh well, I get paid Monday and through some savvy spending tips, I'm hoping to be 6 to 8% towards my goal by next Friday.
My savvy spending deal of the week came last night when I used three coupons for Wholly Guacamole products. Originally $3.99 and $4.99, the coupons were for $4.00 each product. I also had a coupon for a $1.00 of an air freshner that was on sale for .97 cents. Throw in a bag of tortilla chips and my whole purchase - originally nearly $18 - was purchased for $4.90. Win.
I also went to annualcreditreport.com and pulled up a credit report. Did you know you are allowed three, free credit reports per year - and I don't mean from the "free" credit report website. Annualcreditreport.com is an actually, legit website (from what I was told by a lawyer) and I pulled my report. I've had some, well, we'll just call them setbacks, over the past year - mainly due to the bright idea I had to buy a condo (not a bright idea...) and I am working to repair my credit. I did pay $7.95 to find out what my credit score is and while it's not very shiny and pretty, it's not totally atrocious. Mediocre.
Education
I printed out information for three different graduate programs: a dprof in organizational leadership, an educational doctorate (Ed.d) in administrative leadership and the requirements for an MBA. My first choice would be the dprof doctoral program; however, both the dprof and Ed.d programs may not be taking a fall co-hort. Cue MBA print outs. We'll see, we'll see...I am reliving conversations from a former grad school professor. I remember telling him MANY times that he was crazy and that I was absolutely, positively not getting another degree. I also told my husband we'd never, ever live in Michigan. Well, I am serious about another degree and we lived in Michigan for a year. Clearly I need to stop saying "100% no" to things :)
Reading
I am hoping to finish my first book of the 26 for the year this weekend. I will make a separate blog posting listing the book titles, once I finish book one :) Currently reading: Dexter in the Dark by Jeff Lindsay
Book
Oh my oh my am I WAY behind in my NaNoWriMo word count. By today, the 12th day of November, I should be at 20,000 words. Shamefully, I am a measly 5,921 words. And I haven't written since Sunday. And I don't like my plot. And I don't like my characters. Sigh...
And there you have it, the first week down - 51 to go!
While I have 10 goals, I've organized them based on themes for the purpose of my weekly updates.
Fitness/Weight Loss
I did work out twice this week - even ran 1.5 mi...at one time, woo hoo! I am almost halfway to my 5k distance! However, the scale was not my friend and it reflected a gain, not a loss. Boo.
Organization
In terms of organizing my life, I did start to organize my recipes and my office - yay! Hopefully I'll have most of my recipes organized by the end of this weekend, and I will clean out my expired coupons, cut new ones, etc. I am going to be putting together a lengthy shopping list for healthy foods for my grocery shopping trip on Monday.
Savings
I 'saved' a whole, whopping $5.10 this week bringing my total saved to $80.36. Yay? And honestly, that was only "saved" because of a program through my bank. It's cool because when I make a purchase, they automatically take the leftover-amount-to-equal-100 and deposit it into my savings account. For example, if I make a $4.50 purchase, they round the purchase to $5. They don't 'give' me the 50 cents, but they take it from my checking account and put it into my savings account. I enjoy it. On the bright side, I'm nearly 2% towards my goal. Ha. Oh well, I get paid Monday and through some savvy spending tips, I'm hoping to be 6 to 8% towards my goal by next Friday.
My savvy spending deal of the week came last night when I used three coupons for Wholly Guacamole products. Originally $3.99 and $4.99, the coupons were for $4.00 each product. I also had a coupon for a $1.00 of an air freshner that was on sale for .97 cents. Throw in a bag of tortilla chips and my whole purchase - originally nearly $18 - was purchased for $4.90. Win.
I also went to annualcreditreport.com and pulled up a credit report. Did you know you are allowed three, free credit reports per year - and I don't mean from the "free" credit report website. Annualcreditreport.com is an actually, legit website (from what I was told by a lawyer) and I pulled my report. I've had some, well, we'll just call them setbacks, over the past year - mainly due to the bright idea I had to buy a condo (not a bright idea...) and I am working to repair my credit. I did pay $7.95 to find out what my credit score is and while it's not very shiny and pretty, it's not totally atrocious. Mediocre.
Education
I printed out information for three different graduate programs: a dprof in organizational leadership, an educational doctorate (Ed.d) in administrative leadership and the requirements for an MBA. My first choice would be the dprof doctoral program; however, both the dprof and Ed.d programs may not be taking a fall co-hort. Cue MBA print outs. We'll see, we'll see...I am reliving conversations from a former grad school professor. I remember telling him MANY times that he was crazy and that I was absolutely, positively not getting another degree. I also told my husband we'd never, ever live in Michigan. Well, I am serious about another degree and we lived in Michigan for a year. Clearly I need to stop saying "100% no" to things :)
Reading
I am hoping to finish my first book of the 26 for the year this weekend. I will make a separate blog posting listing the book titles, once I finish book one :) Currently reading: Dexter in the Dark by Jeff Lindsay
Book
Oh my oh my am I WAY behind in my NaNoWriMo word count. By today, the 12th day of November, I should be at 20,000 words. Shamefully, I am a measly 5,921 words. And I haven't written since Sunday. And I don't like my plot. And I don't like my characters. Sigh...
And there you have it, the first week down - 51 to go!
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