budget - Surviving and Thriving

Money haters gonna hate.

October 1, 2015 by Donna Freedman

The lovely and talented J. Money has apparently had enough. In a blog post called “What haters are like,” he details some of the bummer-speak he’s encountered with regard to finances.

Stuff like:

I just paid off my debt! (You shouldn’t have had any to begin with.)

I just invested in my first stock! (You need to diversify more.)

I just saved for retirement! (Why? YOLO!)

I just bought a used car! (It’s gonna break down, you know.)

I just bought insurance! (You would have been better off saving it.)

I just saved $20.00 doing it myself! (My time is worth way more than that.)

As the kids say: Srsly????

Are milestones busting the budget?

August 14, 2015 by Donna Freedman

Personal finance geeks like to plan ahead: retirement, emergency fund, college plan, new-car-with-cash fund, et al.

We actually find this fun, or at least satisfying. You should try it sometime.

A lot of us will also set an amount to be spent for the holidays and other occasions important to us (mom’s birthday, an annual 10k, the Talkeetna Bachelors Auction and Wilderness Woman Competition, whatever).

But how many remember what I call the “milestone gifts” – weddings, graduation, babies, bar mitzvahs and the like?

This could come out of the “entertainment” section of your budget, but if you have a big family and/or a lot of friends then pretty soon you’d have no money left for the movies.

Gift-giving can be a very touchy practice. Is it the right present? Will they thank me but roll their eyes later? Is everyone judging my choice?

And, of course, the biggie: Did I spend enough?

Surviving (and thriving) on $12k a year: The reboot.

July 19, 2017June 6, 2015 by Donna Freedman

Recently a reader named Laura H. e-mailed to ask if I could re-run “Surviving (and thriving) on $12,000 a year,” an article I wrote for MSN Money back in January 2007.

When I wrote that I was 49 years old, back in college and coming off a two-year-long divorce. At the time the assignment seemed like a one-off freelance gig. I had no way of knowing that it would ultimately lead to a career as a personal finance blogger; at that point I didn’t even know what blogs were.

People still mention that $12k piece. Some ask me where they can find it. Unfortunately, MSN Money changed platforms and the work I did there between 2007 and 2013 can no longer be accessed.

Fortunately, I keep copies of everything I write.

Weird ways of saving money.

May 31, 2015May 29, 2015 by Donna Freedman

What’s the weirdest thing you ever did to save money? That’s a question that the GO Banking Rates blogger Christine Lavignia asked of me and 29 other personal finance writers. Here’s my answer:

“As a 21-year-old single mom, I was a clerk at a big-city newspaper, where an editor would ask me to run to the cafeteria for coffee for reporters, ‘and get something for myself, too.’

I would pocket the 35 cents it cost to buy an orange drink and purposely get more sugar packets than necessary; that way, I’d get an extra buck or so a week (these were 1979 dollars) plus sugar to take home for my oatmeal.

“I don’t know about ‘weird,’ but it’s certainly sad. … Just one more reminder that since I had very few resources, I’d better be creative about meeting needs for myself and my baby. My various hand-to-mouth coping strategies were pretty useful much later, when I was a mid-life college student and broke divorcee.”

Edited for clarity: I would get two or three sugars per cup of coffee. Some reporters used that much, others didn’t. At times certain writers would cut back to zero sugars for a while (maybe because they wanted to lose weight). No matter what, most weeks I brought at least a few sugar packets home.

The other answers can be seen at “The weirdest thing I did to save money.” In my opinion only a few of them are truly weird.

My favorite? “I scrounged in the Lost and Found for a free swimsuit.”

Why I sewed my underwear.

November 22, 2020May 26, 2015 by Donna Freedman

Because it was torn. Duh.

But seriously, folks: I had four pairs* of underpants with tears along seams. Side seams are especially susceptible. As the holes got bigger I’d stop using the garments.

But since I have enough for only about nine days, it bugged me that nearly half of my unmentionables were out of service. Naturally I kept vowing, “I’m going to fix those,” and just as naturally I kept putting it off.

Sometimes I’d wind up wearing the decommissioned drawers anyway due to laundry-day timing, and the stressed seams didn’t always appreciate it.

That bugged me even more. But as my friend SonyaAnn would say, it clearly it didn’t bother me enough. When it did, I’d do something about it.

Saturday was that day. I got out my sewing basket and spent just under half an hour repairing those seams. That included time to rethread the needle once.

Was it worth my time?

Crossing that (dental) bridge.

June 23, 2015May 20, 2015 by Donna Freedman

At the end of April I got some unpleasant news concerning my teeth, news so unpleasant that it made me want to go out and waste money. Regular readers know that would indicate some serious upset.

As I explained in “How to avoid takeout,” the Maryland dental bridge I’ve had for 31 years needs replacing due to a cavity underneath it. The first stage — cutting apart the bridge, fixing the cavity and crowning the tooth — would cost approximately $1,222.

Today I had the first part done and the appointment revealed both very good and very bad news. Typical.

Why I’m neglecting my Roth IRA.

May 4, 2015 by Donna Freedman

For the first time in seven years I’m shining on my contributions to a Roth IRA. The $6,500 that would have gone into that account will go into savings instead.

That doesn’t mean I’m ignoring retirement. I’m just changing the way I do it. The reason may not make 100 percent financial sense, but it will make me feel better.

Here’s why.

How to avoid takeout.

April 30, 2015 by Donna Freedman

Yesterday I woke up with this phrase in my head: “Something about the bridge.” Not the conveyance type of bridge, but the kind in my mouth.

Unfortunately, my dentist appointment proved that my precognitive flash was correct. The X-rays showed decay in a place that can’t be fixed unless the dentist removes the cantilevered bridge (aka a “Maryland bridge”) to do it.

That bridge was on borrowed time anyway. It was installed 31 years ago. When I said as much, the dentist’s eyes widened. It’s had an impressive run, but time for it to go. And for a crown to be placed on that tooth.

My self-funded dental insurance covers only preventive work like X-rays and cleaning. The work needed will run a little over $1,200 if I pay by check. Which I will, of course.

My decidedly non-frugal reaction was to say, “Let’s go out to eat.” You can see that I wasn’t thinking clearly.

A coupon miracle.

April 21, 2015 by Donna Freedman

The last time I visited my daughter I lost my coupon holder, a black nylon wallet with pasteboard dividers. FLOUR/SUGAR. CRACKERS/SNAX/DESSERTS. DAIRY PRODUCTS. TOILETRIES. FROZEN FOODS.

I emptied my backpack and suitcase. Nothing. We took the place apart but couldn’t find it. Abby called the stores we’d visited. No luck.

This truly bummed me out, and not just because of the coupons it held. I’d had the holder for at least 25 years after ordering it from a Parade magazine ad, and it had seen a lot of hard use.