#finlit

As you guys know, I’ve been reading money books (#finlit) throughout my personal finance journey. I’ve found that reading personal finance books keeps my motivation up, plus there’s always more to learn. Recently, I finished Suze Orman’s The Money Book for the Young Fabulous and Broke – her book devoted to helping millenials/me. I haven’t read any of Ms. Orman’s other books, but this was definitely a good personal finance primer. It covers everything from how to get a job that will pay your bills to buying your first house. It also has whole sections devoted to your credit score, how your relationships can affectRead More →

money happy

***This is a Guest Post. <3 from the Dames*** Four steps to starting the new year with a positive outlook on your finances If you’re starting the new year in debt or with a little less than you like after Christmas, then you may feel that your prospects for financial happiness are gloomy. However, you can be totally money happy in 2017 by trying out a few of the suggestions below. Being money happy doesn’t mean being mega rich, but more about being happy with your situation and using the money that you do have to live a comfortable, happy life. So read on toRead More →

asking

We talk a lot on Dames in Debt about ways to save money or smart spending, but let’s not also forget another very important piece of the no-debt puzzle: increasing your income. You can scrimp and save all you want, but at some point, you just can’t save any more. It’s unfortunate in this day and age that many of us technically considered “middle class” full-time employees can’t earn enough to live off of our 40 hour a week earnings. The answer? You need to make more money. Today’s post is about the quickest, easiest way to increase your earnings: asking your boss for aRead More →

finlit

Since starting our debt-crushing journey, I’ve read a couple of the “greats” in #FinLit (a.k.a. famous personal finance books). What I’ve realized is that not all money books are equal. For instance, Your Money or Your Life  was wholly disappointing to me. I found it outdated, somewhat condescending, not practical, and poorly written. That being said, I know a lot of people who swear by it. Well, after reading four #FinLit books…I’ve gotta say, I’m Team Ramsey. #FinLit Summary The Total Money Makeover by Dave Ramsey is definitely my favorite thus far. I found it engaging, motivating, and I loved that Ramsey managed to teach acceptance overRead More →

FIRE

  If you’re a pro at FIRE, then welcome. If your new to hearing this word in a non-burning context, also welcome…welcome to the wide world of nontraditional living. From minimalism to passive income to early retirement, there are multiple paths to whichever ending you’d prefer, and FIRE is one of them. Today, I’m talking about why I’m rejecting one of these more popular goals in the personal finance world – FIRE specifically. Let’s get lit! (Sorry, I had to) FIRE – It’s an Acronym! FIRE is a term that refers to Financial Independence and Retiring Early. While these two might seem awfully similar, they areRead More →

fighting impatience

I like to think that I’ve always been good at handling my money. I’ve been tracking my spending and using a budget since undergrad. I opened a Roth IRA while still in law school, and I’ve been trying to save whatever possible for an emergency fund. Despite doing all these things though, I never really made progress on any of my financial goals: I was spending more than I earned, my credit card debt increased, and I had approx. $25.44 in my emergency fund. This year, I set my goals for my financial life like I usually do, but then, I decided to do somethingRead More →

Take Stock

 ***This post contains an affiliate link. <3 from the Dames*** In order to make a plan to get out of debt, we need to know where to start. So we’ve already discussed taking a good hard look at my finances and determining what to focus on, now it’s time to get organized. This week I’m going to take stock of my assets.    No, no, it’s not like that – promise! I just finished reading The Life-Changing Magic of Tidying Up by Marie Kondo, and that really served as the source of inspiration for this purge. I need a space that helps me maintain focus,Read More →

budget basics

Becoming  a millionaire is so passé these days, becoming a billionaire is the new goal. Or …maybe it’s being able to stop living paycheck-to-paycheck. If you are anything like me, you got pretty excited when you signed your first job offer letter. That yearly salary sounds like more money than you’ll ever need, until of course, you crunch the numbers and realize you have a discretionary budget of $12.50 per month. Now that you’ve figured out your debt and made smart money goals, it’s time to get down to brass tacks and tame your transactions. It’s time to make a budget. So, where to start? Many well-known, financialRead More →

Remember all of those “This is your brain on drugs” PSAs that ran in the ’90s? Well, consider this your debt wake-up call. Debt is bad, and it’s bad for your finances. To understand just how bad debt is, think of it like you would a smoking habit – costly, definitely not “cool”, and seriously expensive.   The average U.S. household with debt carries $15,762 in credit card debt and $130,922 in total debt. (Courtesy of Nerd Wallet) While some of this may be related to poor spending decisions or eating out too much, not all of this debt is from reckless spending. More Americans than ever areRead More →

affordable housing

Finding a new apartment can be daunting. I know, I’ve done it about 6 times way too many. So since I just got my new place (and hopefully won’t be moving again for awhile), I thought it would be a great time to share how I find affordable housing in LA for cheap. First, let’s talk about rent. Rent is way too expensive everywhere, but especially in LA. Thanks to record keeping in Mint, I can see how much I paid for rent, and in the last 12 months, I have spent over $12,000 on rent. Oof! And I had a decently priced apartment forRead More →