Everyday Goddess

Two more drugstore brands later, I gave in.

Here's an interesting post from Wise Bread: On choosing and defending your luxuries.

Putting My Money Where My Mind Is: Choosing American Airlines over Southwest

So there's this little conference I go to in the summer called BlogHer. When I first priced the plane ticket on American Airlines, it was over $500. I cried a little inside.

And I waited. And it went down quite a bit, and then by the time I could purchase it, back up a little. I ended up with a ticket for $400.

Southwest Airlines would have been significantly cheaper. But I have finally arrived at a place in my life where I don't have to purchase plane tickets based solely on price. (Hallelujah!) Finally, I was able to consider other issues that are important to me when purchasing a plane ticket:

1. My miles are with American. I'm likely taking a personal trip to South Florida this August (Hallelujah again!), and by the miracle of miles, acquired slowly but surely, I have actually earned a free plane ticket. So I'm liking that. American flies the places I am most likely to go in any given year.
2. I hate the Southwest air bus concept. I want an assigned seat. (Although at the moment aa.com won't let me see the seat map to change my seat which kinda blows. I'll have to give a call, it seems.)
3. I prefer to fly into O'Hare where I've been once and am familiar with taking the train into Chicago. Southwest flies into Midway.
4. And a big one for me, these situations just really turned me off Southwest Airlines:

Assvertising: The Sports Illustrated Swimsuit Issue Edition (Shakesville)

Come fly the slut-shaming skies (Feministing)

Now, I haven't always had the world's best flights ever on American, and I'm certainly not a huge fan of the bag fees. But I am familiar with the terminals and usually check-in and boarding go like butter. So despite the (strong) allure of a cheaper ticket, I'm flying American Airlines to BlogHer. Here's hoping for a peaceful, on-time flight.

Goals Update: Reading, Writing, and Arithmetic.

Reading

So, I'm on track so far for my goal of reading 24 books in 2009 (12 fiction and 12 non-fiction). In April, on the nonfiction side, the good news is that He's a Stud, She's a Slut, and 49 Other Double Standards Every Woman Should Know was such a quick read that I've got like a month and 3 weeks to read The Omnivore's Dilemma: A Natural History of Four Meals. The bad news is, reading about 50 double standards all in a row is rather depressing, even though Jessica Valenti is funny.

Writing

In screenwriting news, I wrote four out of five Tuesday evenings in March, missing my goal for the month by one. On the Tuesday I missed I was pitching webisode concepts to a friend, so I guess that's pretty much the greatest reason ever. :) In April I've got four Tuesdays and my goal is to beat out my adaptation on index cards using the system described in Save The Cat! The Last Book on Screenwriting You'll Ever Need. I'm tackling a quite challenging adaptation, and moving into the second half I've been feeling a bit lost so I definitely think this will be time well spent.

Arithmetic

I got my taxes done and pulling my business expenses together was as much of a nightmare as ever. I've decided that this is the year I get my business expenses organized throughout the year. I'm using a small business American Express card for most of my business expenses, and my goal in April is to download some accounting software and organize my business income and expenses so far this year. I'm totally dreaming of 2009 business taxes that are a breeze...

Note To Self Regarding Next Year's Tax Return

Congratulations, you filed your taxes! And it only took, all told, about 10 or 12 hours. And a piece of your heart soul mind.

I swear, in April, you will get a program or use a spreadsheet, and you will organized your business expense thus far this year. And then you will keep up with that. Because I seriously can't do it this way again

Reviewing Kiplinger’s Financial Commandments for your 20s... in my 30s

OK, so yesterday I reviewed the 10 Financial Commandments for Your 30s by Erin Burt, contributing editor for Kiplinger.com. At the end of my post, I posited that 37 in the Los Angeles film industry is in many ways like 27 in other areas and industries, so today I'm going to review the 10 Financial Commandments for Your 20s, if for no other reason than to make myself feel better.  (h/t Get Rich Slowly)

1. Plan ahead - This is difficult for me because my life at any point could be one of two things. I could still be an executive assistant, or I could be a working director. Needless to say, these are very different financial situations, so I tend to focus on short term goals. OK, so five years? No credit card debt and a real emergency fund.

2. Live within your means - I think I'm finally pulling this one off. It really helps to have some means. I'll also throw in here that this post from FrugalDad really spoke to me recently: Complacency A Silent Killer Of Financial Turnaround.

3. Make saving a habit - I did this last year, but right now I'm not really saving at all due to a 15% pay cut at work. I do still have my "keep the change" savings account growing by pennies, and I don't spend that.

4. Pay off your credit cards - This should be totally doable in the next five years. I've made major progress on this front in terms of consolidation and interest rates, and I've stopped using credit completely.

5. Start investing - I used my first 401K towards graduate film school. I started a new one last year, but right now my contribution is 0%. Sigh.

6. Establish credit - This one I've got. I've been buried, and I got into a spot of trouble with American Express like a million years ago, but my credit score is pretty pleasing to me at this point.

7. Have a marketable skill - While the gamble on that expensive film degree is still on the table, my marketable, transferable skills as an executive assistant have indeed served me well. I had no problem finding a "real" job in Hollywood to pay my bills, and if the entire entertainment industry takes a Titanic-sized plunge into massive depression, I can do my job for anyone in any field. It's one of the reasons I'm an executive assistant by day. Totally Transferable Skills.

8. Cut the financial umbilical cord - LOL and that's all I'm gonna say about that.

9. Marry wisely - Well, that's very easy advice to give, difficult to execute, if you're even getting married at all. Or even able to legally marry who you want to marry. That said, I did enjoy her Ten Questions to Ask Before Saying 'I Do'. You really do need to have those conversations. Oh, I sound jaded. OK, Marry wisely - I'm working on it. Would be nice.

10. Have some fun - Seriously, she isn't kidding. I work my ass off, and if I didn't have a little fun sometimes, I think I'd keel over from the weight of it.

So, I'm 37 going on 28, and when I look at both the 20s list and the 30s list and all things considered, I'm not doing *that* bad. I really wish I was farther along, but I'm going to stay focused on making good choices and moving forward. It's frustratingly slow, but it is what it is.

I work really hard. I've got faith it's gonna pay off.

Reviewing Kiplinger’s Financial Commandments for my 30s

So Erin Burt, contributing editor for Kiplinger.com, first wrote 10 Financial Commandments for Your 20s, which I will not pain myself by reviewing. Instead, I will pain my 37-year old self by reviewing her 10 Financial Commandments for Your 30s. (h/t Get Rich Slowly)

1. Pay off your non-mortgage debt - Yeah, there was a window where it looked like I would be able to pay off my credit card debt by my 40th birthday. And then there was a writer's strike and SAG BS, and my salary got cut by 15% (which is A LOT, yo). And I put my graduate school student loan into forbearance for the third time. On the plus side, I have made significant financial progress in terms of consolidation and interest rates, and so far in this downturn I am at least holding the line. Also, mortgages and family, lol. Maybe I'll be married by 40, but a house and kids would be a surprise.

2. Kick the debt cycle altogether - Despite item #1, I'm actually pulling this item off pretty well. Finally. I did really good last year, and I've been firmly only spending what I can cover since the beginning of 2009. And I'll be driving my '94 Corolla until my career finally takes the turn I'm working my ass off for.

3. Get serious about retirement - Yeah. So I was finally able to open a 401K again, post film school... and then see item one. Ultimately, I had to stop my 401K contribution. As far as retirement goes, I hope I drop dead on set between action and cut. That said, I am worried about the possibility that I'll get sick and be unable to work as long as I'd like, not to mention that people in my family live a LONG time, so while I certainly hope to be working in my 60s... maybe it's unrealistic to think I'll be working in my 90s. So when I get my salary back (knock on wood), I'm definitely going to restart my 401K contribution, even if the percentage seems paltry.

4.Diversify your investments - My only investment is my 401K, and it's fairly diverse. And no one will ever call me risk-adverse, that's for sure.

5. Continue to learn - Hey! I've got this one down cold.

6. Protect your assets - My first instinct here is to lol, since my assets are a '94 Corolla, a refrigerator, my computers, some nice dining room furniture, and a small diamond ring. That said, I do have renter's insurance (because damned if I'm going to lose what I've got). Also, she's talking about your emergency fund here. I've got the first $1,000. This is another thing that took a blow in the pay cut, not that I was saving that much anyway, but it was regular saving, which was new for me. Sometimes, I do the math on saving 10% of my salary... and then I have to lol again.

7. Live simply - I'm honestly working on this. It's challenging to simplify when you're already not "living large" in a town where you're surrounded by people with A LOT of money and A LOT of people living like they have more than they do. But maybe that's everywhere in some ways.

8. Make your will known - Goal to do by 40? It's difficult to imagine that this is really that important for me.

9. Get a life... insurance policy - Hey, I just did this! I couldn't help thinking though, that most people get life insurance to protect their kids, and I just got mine so my debt is covered in case of my early demise. Somebody take the rest and shoot a film, k?

10. Be charitable - I'm pulling back on donations this year because I gave too much last year. The article also mentions giving of your time, of course. Hoping I've got more of that to give in my 40s.

So that's my review of these items, however, I would like to posit that if the camera adds 10 pounds to your weight, the entertainment industry subtracts 10 years from your life age. I suppose you could think of it as being 10 years behind, but either way, 37 here doesn't mean what it means in other places. I live with a roommate; I've barely started my career; I don't intend to retire in my 50s or even my 60s unless I have to, and I suspect there's at least a chance that I may be doing a lot of things in my 40s that people traditionally do in their 30s. So with that in mind, I think I *am* going to review the 10 Financial Commandments for Your 20s, too.

What I'm Not Spending Money On In 2009

My financial situation changed dramatically at the end of 2008. I took a major pay cut at work and then decided that so long as I was taking a financial hit it might as well hurt even more - So I went from two posts a week for BlogHer to one. Good for my sanity, bad for my wallet. Stunningly bad for my wallet.

The other thing that happened was that Unnamed Credit Company tried to raise the rate on my last in-use credit card. A lot. From 5.99 to 14.99. So I had to opt out, which means the account closes and locks at the current rate. (Which I believe is technically a certain percentage over a certain government set rate. 5.99 is lower than it was when I got the card.) I wasn't using it that often anyway - But I was still using it on occasion. To buy a planet ticket before I had the money in hand, for example. By the time I have the cash to buy my plane ticket to Chicago for Blogher, it's probably going to be $800 the way it's looking now. Sigh.

So coming into 2009 I've got a whole new lower annual salary and no credit card that I care to use. So not so much with the buying:

1. magazines - This feels like an organic decision. I simply don't have time to read them anyway and reading content on paper is feeling stranger and stranger. So the only subscription I'm renewing this year is my Hollywood Reporter, which is a business expense.
2. donations - Passing the losses on. I donated a lot of money last year (for me at least), and so I've decided that this year I'm not donating anything to anyone.
3. facials - Last year I was finally able to get the occasional facial. It makes a HUGE HUGE HUGE difference in my skin. Sigh. This will be this first thing I book if I ever get my salary back. That and a hair cut.
4. salon shampoo/conditioner - Another thing I'd just stepped up to in 2008, and it makes such a difference it's insane. And insanely expensive, so back to the I-Hate-Every-Shampoo-And-Conditioner-I-Try drug store for me. (If anyone's got a recommendation for thin, sensitive hair, please let me know. I was using Bumble & Bumble Gentle with the Thickening or the Super Rich conditioner.)
5. clothes and shoes - One good thing about 2008 is that I had real money to spend - for almost the first time ever. And I bought a lot of things I needed, including clothes. And boots. And sweaters. Now I have nice clothes to wear to work and clothes to wear when it's cold - It's awesome, truth be told. So now my goal is to not buy any new clothes or shoes this year.
6. bottled water - Brita and Sigg bottle engaged!

So what does this leave? Well, mostly I already spend money primarily on business expenses as it is. And I still get my eyebrows done - although I've changed from every two weeks to every three (which drives me crazy, but saves money). The other regular "luxury" items I spend on are my facial products and yoga. I'm also going to need some plane tickets this year - fingers crossed I get a decent tax return. Oh, and I do spend money on good food. Fresh veggies and the like. My health and appearance are priorities to me, obviously.

One more note on something I struggle with. I'm certainly aware that to a family struggling to get by this list is... full of things they stopped buying long ago, if ever. I know what it's like to cancel a doctor's appointment because you can't pay to park outside the office or you don't have the copay. I know what it's like not to have money for food. I know the fear that comes from being terrified that you will need money for a car repair and simply won't have it. (And I am beyond thankful for the metro I had the good sense to move next to.)

I also spend my life around people with nice houses and nice cars for whom salon expenses aren't something they give any thought to at all. Sometimes it feels like I've spent my whole life like this - caught between the haves and have nots. I find it very confusing when I let myself think about it. I don't know where I fit or what's "right" in terms of spending.

So for now, I'm just focusing on my 2009 mantra: "If You Don't Have Any Money, Don't Buy Anything." So far, so good. And I am very thankful that I'm still able to spend money on some of the things that are important to me.

Do You Claim Items Received For Review As In-Kind Income?

Because I have in the past.  Written everything I've received down with values, tallied it up, and claimed it as other business income on my Schedule C.

But I've never read anything written about this specific situation. Which is getting really annoying, because Holy Hell the entire blogging world is receiving freebies for review, and I'd say most personal bloggers keep the items. Is this issue just totally cut and dried and understood by everyone but me?

And because, this year the number is fairly significant. So if I'm not supposed to be claiming goods received for review as income (note, I don't return the items), it will make a significant difference to my taxes this year.

When in doubt, I'll claim the items as income and eat it. I always err on the conservative side.

But I would really like to read a couple posts or articles on this specific issue, and you'd think that in 2009 I'd be able to find dozens of them through a simple Google search. And btw, I have to do my taxes STAT because I need my tax return to buy my massively overpriced (why!? why!?) plane ticket to go to Chicago in July for BlogHer, and if I actually made a profit this year, and am therefore *not* getting a tax return and maybe even have to pay, I *really* need to know. There's definitely a chance that this year is the year but you can be sure I'm in the window where any profit will be completely eaten up by self-employment tax.

Can you tell that my taxes make me a little tense?

2009 Resolution: Money & Banking Edition

So last year my financial goal was to put $25 in my savings account monthly, plus the "keep the change" amounts, and not touch it. I accomplished that goal, even increasing the monthly amount to $50 for the last few months of the year. It's not a lot, but my savings account currently stands untouched at $645.70.

This year, this awesome SNL skit expresses my New Year's Resolution perfectly (h/t LAist):

My financial New Year's Resolution is to charge nothing I can't pay off within the month. The reason I phrase it that way is that I use my Amex for business expenses, and when I shop at Macy's I use the card because the discounts are really awesome.

For most of last year, I have already been doing this pretty well, but the resolution is a more conscious decision to go credit-free with no exceptions. It's also going to more of a challenge because I'm under a 15% pay cut at work, and I simultaneously cut my BlogHer blogging to one post a week.

So my student loan is going back into forbearance. Again.

Which hurts. A lot.

But, living without using credit - and continuing to make real progress on my remaining credit card debt - is more important than the $40K I will seemingly owe the government until the day I die.

So this year - No New Debt.  This is day 3.

34 Months.

In 34 months I will turn 40. And all things remaining constant (ha!), in that magic month, I will be consumer credit debt free.  (The student loan will live on. And on.)

I have decided that what I want for my 40th birthday is a guest room. Or, perhaps more accurately, a home office with a bed in it for guests. In either my own apartment or in an apartment I share with a romantic partner.

So. 34 months.

Here's the thing. A thing I didn't know. When your finances start to loosen up, it actually gets harder.

Because suddenly, I could get a new car. I could almost get my own apartment.

I have some disposable income. I bought myself a Roomba (on sale!), and I have clean carpets for the first time since my birthday party in June (and a robot!).

But if I'm going to reach my goal, I can't splurge like that anywhere near regularly. And because I bought the Roomba, I have to make choices to not buy other things like new clothes or shoes or games I can live without.

And I need to not buy a new car.

And I certainly need to not move.

Instead, I must hold the course. I must stay where I am and pay, pay, pay. For 34 more months.

That's still more time than I spent in film school.

Maybe I should make a paper chain.

 

Supercool image by jek in the box.