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Saving for Christmas/Holidays

August 17, 2011 BY Michelle Schroeder-Gardner - 12 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

I know Christmas and the winter holidays are not for quite some time, but I know many people who deposit money into a fund specifically for the winter holidays. I have never done this but I feel that this is a great idea, so that the amount you spend at Christmas time doesn’t seem to be as much of a burden.

Me and the BF do not have any kids (and don’t plan on having any for at least another 10 years), but we always end up spending a TON of money around Christmas time. He has a massive family (when I say massive, I am seriously not kidding, there’s maybe 100 of them and there are ALWAYS family gatherings, which I really really do love) and we always buy a lot of presents for the kids.

Last year we decided on a budget of around $30 for each of the kids that we are closest to, but we went way over budget. And then we always spend a lot on each other, way more than we ever bargain for. This year I hope to set a very clear budget for us to follow.

Do you have a holiday fund? How much do you usually spend?

Working on your Resume

August 16, 2011 BY Michelle Schroeder-Gardner - 7 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Creating a resume can be very difficult. However, with some help and guidance, it can be very easy. I would like to think that I am very good at creating and improving resumes. When I was looking for jobs last year before I was about to graduate, I used the career office at my school very effectively and efficiently in my job search. I brought my resume there and had multiple people check and review it, and everyone said it was perfect (except for a few very minor errors).

Here are some tips for your resume:

If you can, I would definitely have someone else review your resume. You might have read it 30 times, but another set of eyes never hurts.
I heard that using a Gmail or school e-mail on your resume looks better than using an AOL or Hotmail account. I don’t know if this is true (I used a hotmail, but I just recently switched to Gmail). In the article I read (I believe it was Daily Worth), it said that using an AOL or Hotmail account might come across as that you are not very tech savvy and/or might be older and stuck in a rut. I do not believe than an e-mail account could affect you this much, but like I said, I do not know.
The rule that your resume needs to be one page does not always apply. My friend is in the anthropology field, and the longer her resume is, the better. Her resume is around 5 or 6 pages now.
You should try to include references in your resume. Every place I applied at was very happy that I included my references along with each references’ contact information in my resume because it made it much easier for them.
If you potential employer asks for your GPA or academic standing, do NOT LIE! Employers can request your grades and do background checks, so I would not lie about anything.
Create a cover letter to go along with your resume
State a purpose or objective which specifically applies to the job you are applying to
Don’t use any pictures (unless of course you need a head shot for the job you are applying to)

If you have any other tips that you would like to add, please share.

Working out worth the money?

August 15, 2011 BY Michelle Schroeder-Gardner - 15 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

I bought my first gym membership in April or May of this year. This was my first time ever going to a commercial gym. I’m not trying to lose weight, I’m trying to get more toned, defined abs, look healthy and so on.

My bill is only $10 a month because I signed on through my BF and we have a family plan, so together it costs us $32 a month. I know this price is super cheap, especially compared to other gyms, but I haven’t worked out even once at the gym since the beginning of June. At first I went to the gym nearly every other day, then the days I went just kept on dwindling down.

I constantly wonder if paying this amount is worth it, even though it’s such a small amount. Me and the BF constantly wish that we would have just invested in a home gym (such as weights and ab stuff). I’m starting to also think it’s a waste because instead of running at the gym, I could just be going for a run with my dogs, so I also feel like I’m neglecting them.

Your turn: Do you work out at the gym? How much is your membership? Do you think it’s worth it?

Crazy Busy Week

August 15, 2011 BY Michelle Schroeder-Gardner - 3 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

I flew to Chicago this past weekend to visit my grandmother for a day. She recently got sick but she’s a little better. I love my grandmother and I wish I could see her more.

I have work on Monday and Tuesday of this week and then on Wednesday morning at 6 am (bright and early of course), me and the BF are going to the Caribbean until Saturday. We are pretty excited. The BF took his first plane ride EVER just this past May, so he still gets a little scared, even though he’s already been on a plane around 6 times this summer. This flight will be around 6 hours, so I hope he does ok and doesn’t panic too much 🙂

Then on Monday I go back to work and I also start my MBA program again. I am taking 4 classes/12 credits, so this is going to be another busy semester. 3 of my classes are financial/securities analysis classes and my other class is business law. I’m going to sound very nerdy, but I am very much looking forward to this semester. I finally have all of my general credits for my MBA program done, so I’m happy that I don’t have take anything that I’m not too excited for. Also, I still need to buy text books, notebooks, binders and so on.

This turned out to be a VERY expensive week. Plane rides to/from Chicago, plane rides to/from Caribbean, food and fun while on vacation, tuition is due, text books are needed, as are school supplies.

What’s going on in your life? Anything exciting? Or stressful?

Buying a House?

August 14, 2011 BY Michelle Schroeder-Gardner - 9 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Are you thinking of buying a house? Have you thought about all of the expected and unexpected costs? (Of course it won’t be the white house or anything)

I bought my first house almost 2 years ago. There were many costs that I didn’t expected, but I’m glad that I can afford them.

Tips for buying a house:

If you are paying rent now, save the difference between your future expected mortgage and what your rent payment is now (example, if your rent is $600 and your mortgage is expected to be $1,000, save $400 every month)
Understand the FULL cost of your monthly mortgage (Mortgage, home insurance, PMI, and so on)
If you buy a foreclosed house or a short sale, make sure you get the house fully inspected. I have heard horror stories where the previous owners dumped cement down the sinks and pipes
I was approved for a $250,000 house and bought a house for $130,000, I would suggest not buying a house for the full amount that you are approved on, as most lenders will approve you for way more than you can actually afford
It is also recommended that your mortgage not be more than around 30% of your monthly gross income. My mortgage is around 25% of my NET income and around 20% of my gross income
Try as hard as you can to pay down at least 20% of your house or you will have to pay PMI every month. This can be as much as $150 a month!

What tips/suggestions do you have for future homeowners?

How many different savings accounts do you have?

August 14, 2011 BY Michelle Schroeder-Gardner - 9 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Like I’ve said before, I love DailyWorth. Here’s an interesting article about different savings accounts.

Do you have different savings accounts for different reasons?

But how many savings accounts does it make sense to have, outside of retirement?

A: You need at least three active savings accounts.

Curveball fund. Automatically transfer at least 5% of every paycheck, to cover random expenses (a lapse of reason at a yard sale, a broken toaster).

Emergency fund. Ditto, but only tap this in a true do-or-die crisis. When they say, “Save three to six months’ worth of living expenses,” this is where it goes.

YouNameIt fund(s). Set up at least one other account for a looming goal or project: a cushy reading chair for the bedroom, a holiday party (or getaway from the parties), adopting a child.

From Daily Worth (share this quote)

I only have an emergency fund, which I consider a fund for ANY type of emergency. It could be a potential job loss, unexpected bills, risen expenses and so on. Ever since reading DailyWorth, I feel like I’m the only one on the website who doesn’t have multiple accounts.

Your turn: How many do you have? Do you feel like it’s necessary?

Getting Out of Debt

August 13, 2011 BY Michelle Schroeder-Gardner - 9 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

I noticed that in other posts a lot of people were commenting on their debt. What have you been doing to get out of debt?

I have some debt. I have around $25,000 in debt for my two undergrad degrees and a part of my MBA. I also have around $6K in a car loan and of course my mortgage. I however do not have any credit card debt (thankfully!) I’m undecided what I want to do in order to pay off debt more quickly. I would like to get a second job or some kind of gig such as tutoring. I’ve also been thinking about if I should apply all of my extra cash towards paying off my loans, or if I should be building an emergency fund at the same time.

Now, here’s a ton of questions for everyone. Please share.

What kind of debt do you have? Car loans? Credit card debt from shopping?

To get out of debt have you been cutting back expenses? Have you been working extra hours or gotten a second job to pay down debt? Are you paying down all of your debt right now and also building up an emergency fund at the same time? Or are you working on one but not the other?

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