@Sharen - Thanks for the correction! I'm in the process of writing up a "part 2" to this article which profiles many of the online passport photo services and Sites. Stay tuned!
@Jack - Thank you very much for your thoughtful reply and viewpoint. I believe there is lots of validity to what you say. But you attack the lender as being the cheapskate for not lending to a friend with whom they have history, and the excess money to do it - as was the case with your friend.
What about the borrower though? I know whenever I have been indebted to a friend, I have become very paranoid about my outstanding debt to them, guilty about it, and nervous that they are holding it against me (even if they aren't). None of these are issues of morality, if the borrower is putting themself through angst for having to borrow from a friend. Don't kid yourself - lines are drawn in the sand when one friend in need has to rely on another friend with excess. The friendship changes like it or not; sometimes though the changes are imperceptible for the initial strength and solid foundation of the friendship.
I make a lot more than one would guess after a casual glance at my lifestyle. I'm 30 and currently earn about 98K, but I'm an immigrant too, so I save a bunch of it - maxing out 401(k), Roth IRA while I could, index fund investing on top of that, CDs on top of that.
I think the biggest reason I save so much is because I kind of don't need so much, and am careful about moving things from the want pile to the need pile, just because I can afford them. Manicures, pedicures, 600 threadcount sheets? Definitely wants.
I'm also careful about moving things from the "everybody wants" pile to the "i want" pile. Like a flat screen TV... people seem to think if you can afford one, why wouldn't you get one? I'm not sure that's right. On the other hand, I love photography and *want want want* photo stuff. So twice a year I buy myself a new photo related toy, a new lens/flash etc... I also love to travel, and never say no to a travel opportunity, although I research the best bang for my buck.
@Kate - Thanks for your input on Uluru....I believe that where there's a will, there's a way. Many of my Aussie friends consider it a sacred place, worth visiting. Cheers!
@HollyP - You nailed it: without kids, more traveling options seem possible! Kids offer a whole new direction in life.
Wow, amazing advice. It's hard enough to get out of debt without everyone from the government to "debt consolidation counselors" trying to trick you. I guess the best advice is to seek out advice that you trust, rather than thinking there's a way to get out of debt without paying it all off. I think the best thing is usually to work with the creditor directly, but that's easier said than done. The old adage is true: everything has a string attached.
If our friends don't know what we make, it's because they are recent college grads who simply haven't been in the working world long enough. Friends closer to our age (late 20s/early 30s) probably have a pretty good idea since my husband is a programmer. I doubt people are particularly surprised at what we save since my husband used to tell people how much he had saved (before we were married).
If there's anything about our money that people might be surprised at it is how much we give away which is probably 15-20% per year. A good chunk of this supports various local community efforts by our church, but we also give to friends around the world who are doing non-profit work.
I grew up in a family that was very frugal: coupon clipping, only buying things that were 'on sale', eating McDonalds' burgers because they were less expensive than Burger King's, driving across the country rather than flying...etc :). As a result, I tend to live pretty conservatively. Even though my financial situation is different, I have a hard time breaking any of the financial 'rules' that influenced my childhood.
Living in L.A. - more specifically Hollywood - for years, I have managed my image. As an actress I have never made a lot of $ - but because how one is perceived = reality, and looking good = success, I have always tried to keep up a stylish image while really cutting costs (see my blog!). So in that sense some people would be surprised. But on the other hand, we live in a rent-controlled apartment - in an area that's getting better all the time, so our rent is low - that's how we can afford our boat and our slip rental! Hearing that we have a boat makes people think we make A LOT more than we do. Then again, my husband, a "respected professional" who works in education really isn't paid according to his qualifications - and what's more, the powers that be are always demanding that he upgrade/renew his various credentials, which costs US quite a bit! With all of our frugality and ingenuity, we live pretty nicely,(with occasional bad streaks) but we do wonder HOW FAMILIES make it!
Every person I work with makes similar salaries to me and they are living the high life, but since I am a one person income family its not that way for me.
The roommate and I keep a fairly large supply of staples in the house -- dried beans, barley, rice, oats, red winter wheat, pasta, salt, flour, sugar, honey etc., as well as cans of tomato sauce and such. We keep water purification supplies on hand. We've talked about getting a small stove to boil water outside in case of power outages. I've been cooking grains with boiling water and a Stanley thermos for years -- it's energy-efficient and means I don't have to actually cook anything in the morning.
My colleagues might think this is strange, but I don't see anything wrong with saving up for financial independence AND saving up for possible zombie apocalypse. I just set aside a certain amount of money from my monthly budget for buying preparedness supplies. Why not cover both sides? Invest in index funds AND ammunition. ;)
We do number 26, too! I got into a habit of it two years ago when we had a massive drought in Alabama and the Water Works Board was surcharging any household who went over a certain usage amount. Now that water levels are back to normal, I just haven't gotten out of the habit. Its good conservation of resources and its saves a little bit of money.
I think a lot of Americans who are born in America have this ridiculous sense of entitlement. They actually believe that everything should be handed to them on a silver platter. Some immigrants, on the other hand, are not used to concepts such as overtime, employer provided healthcare, unemployment benefits or food stamps . . not working your ass off in the countries they are from means not eating, watching your family suffer, or worse. I worked with a guy born on Staten Island once who thought some of the functions we handled were beneath him (fresh out of DeVry) and I've worked in a Dunkin Donuts 6 days/12 hour shifts with an immigrant who used his one day off to go to school so he could better himself. I honestly feel America is producing a bunch of overweight, poorly educated, lazy brats these days.
I have been backpacking around the world for a year-ish now and people are all very incredulous when I tell them not only what I've already seen - but that I plan to keep on traveling for a couple of years from my internet-based work!
It's all about trade-offs I tell them - I make enough to either live frugally and comfortably in the states...or enough for perpetual travel in less expensive countries :-)
Here's a money-saving tip: READ! Reading is cheap, enlightening and takes up quite a bit of time that would be spent purchasing iPhone apps and watching movies at $10 a pop. Try it--you'll thank me :)
My monthly bill turned out about 5 bucks less per month than expected. I figured out it was because wit the iPhone don't call 411 for phone numbers any more. I use yellow page apps instead which have buttons to make a direct call to the number.
The Yowza app for iPhone is a great way to find deals and discounts and clip-less coupons for retailers and restaurants in your area. It uses the gps to locate nearby deals, and when you go in to use a coupon you just show them your phone screen to get the discount.
I think most people who don't know us and just look at our jobs titles and where live (CA) would be surprised, but with friends and family we're pretty open about what we make b/c I think it's a bit ridiculous that $ is such a taboo in out country. I lived in several other parts of the world when I was growing up, and oftentimes in those places one of the first things a new friend would ask is how much you make. It was rather shocking at first, and as a westerner in an very poor country, it was somewhat embarrassing, but I learned to appreciate the assumptions I didn't have to make by knowing.
My hubby and I make significantly less than his side of the family and on par with or more than my family extended family. The thing that would probably surprise people most is that, though I am self-employed, I make more than he does (though self-employment taxes make my usable income is significantly less than my pre-tax income). Hubby works 1/2 time at a public university and makes about $25,000--much less than he would in a similar position in the private sector. I am a private tutor, and, while many of my (extremely wealthy) clients assume I "do VERY well for" myself, I think they'd be surprised at how little I actually make. Everyone else I know, on the other hand, thinks that tutoring is about one step up from minimum wage and consider it temporary side-work rather than a career. My pre-tax income is about $60,000. I only work during the school year and less than 40 hrs. a week at that. In addition to working 1/2 time, hubby also has 1 month off (also unpaid) in the summer. When we were first married about 7 yrs. ago, we got into about $30,000 of debt over 2 yrs. (I had some health problems, was just starting to build my business, and hubby wasn't working)...after paying that off over the next 18 mo. we started saving and have since purchased a small home and that is and has been our only debt. We have several expensive hobbies, and although we're saving some $ each yr., we're not yet saving enough for retirement, so that is where our attention is now turned.
People who see us around town see my kids in nice clean, name brand hand-me downs. My husband and I are both sharp enough dressers. We keep our car nice and clean. But people who know me through my blog know that we make less than $1000 per month, way under the poverty line, and happily with no debt.
I am always shocked by how much my friends make, so I’m sure they’re shocked by how much I make. My friends are mostly smart, interesting people who have gone into programming and work way too many hours and make 2 – 3 times as much as I do OR MORE.
I have a 40-hour work week in a stable government job and I make the same salary as a first-year teacher in my area. I assume it’s just as difficult for them as for anyone to imagine living on 1/2 or even 1/3 as much money as they earn, but then all you have to do is look at my car, look at my house, notice that I always have roommates, etc., and then it all makes sense.
Fortunately, most of their social gatherings are parties at their houses or occasionally at a restaurant, and all of the expensive things they talk me into (like visiting them while they live in Europe) are things I really want to do and can totally afford.
My family knows I'm wealthier than I look but since most of their incomes are higher, they are too embarrassed to ask me for money. Heh.
@Sharen - Thanks for the correction! I'm in the process of writing up a "part 2" to this article which profiles many of the online passport photo services and Sites. Stay tuned!
@Jack - Thank you very much for your thoughtful reply and viewpoint. I believe there is lots of validity to what you say. But you attack the lender as being the cheapskate for not lending to a friend with whom they have history, and the excess money to do it - as was the case with your friend.
What about the borrower though? I know whenever I have been indebted to a friend, I have become very paranoid about my outstanding debt to them, guilty about it, and nervous that they are holding it against me (even if they aren't). None of these are issues of morality, if the borrower is putting themself through angst for having to borrow from a friend. Don't kid yourself - lines are drawn in the sand when one friend in need has to rely on another friend with excess. The friendship changes like it or not; sometimes though the changes are imperceptible for the initial strength and solid foundation of the friendship.
I make a lot more than one would guess after a casual glance at my lifestyle. I'm 30 and currently earn about 98K, but I'm an immigrant too, so I save a bunch of it - maxing out 401(k), Roth IRA while I could, index fund investing on top of that, CDs on top of that.
I think the biggest reason I save so much is because I kind of don't need so much, and am careful about moving things from the want pile to the need pile, just because I can afford them. Manicures, pedicures, 600 threadcount sheets? Definitely wants.
I'm also careful about moving things from the "everybody wants" pile to the "i want" pile. Like a flat screen TV... people seem to think if you can afford one, why wouldn't you get one? I'm not sure that's right. On the other hand, I love photography and *want want want* photo stuff. So twice a year I buy myself a new photo related toy, a new lens/flash etc... I also love to travel, and never say no to a travel opportunity, although I research the best bang for my buck.
@Kate - Thanks for your input on Uluru....I believe that where there's a will, there's a way. Many of my Aussie friends consider it a sacred place, worth visiting. Cheers!
@HollyP - You nailed it: without kids, more traveling options seem possible! Kids offer a whole new direction in life.
Wow, amazing advice. It's hard enough to get out of debt without everyone from the government to "debt consolidation counselors" trying to trick you. I guess the best advice is to seek out advice that you trust, rather than thinking there's a way to get out of debt without paying it all off. I think the best thing is usually to work with the creditor directly, but that's easier said than done. The old adage is true: everything has a string attached.
People are shocked that every internship I've had (including my current one) has been unpaid.
If our friends don't know what we make, it's because they are recent college grads who simply haven't been in the working world long enough. Friends closer to our age (late 20s/early 30s) probably have a pretty good idea since my husband is a programmer. I doubt people are particularly surprised at what we save since my husband used to tell people how much he had saved (before we were married).
If there's anything about our money that people might be surprised at it is how much we give away which is probably 15-20% per year. A good chunk of this supports various local community efforts by our church, but we also give to friends around the world who are doing non-profit work.
i am a grad student, and my working friends would probably be amazed at how little you can live on in the big city.
I grew up in a family that was very frugal: coupon clipping, only buying things that were 'on sale', eating McDonalds' burgers because they were less expensive than Burger King's, driving across the country rather than flying...etc :). As a result, I tend to live pretty conservatively. Even though my financial situation is different, I have a hard time breaking any of the financial 'rules' that influenced my childhood.
Living in L.A. - more specifically Hollywood - for years, I have managed my image. As an actress I have never made a lot of $ - but because how one is perceived = reality, and looking good = success, I have always tried to keep up a stylish image while really cutting costs (see my blog!). So in that sense some people would be surprised. But on the other hand, we live in a rent-controlled apartment - in an area that's getting better all the time, so our rent is low - that's how we can afford our boat and our slip rental! Hearing that we have a boat makes people think we make A LOT more than we do. Then again, my husband, a "respected professional" who works in education really isn't paid according to his qualifications - and what's more, the powers that be are always demanding that he upgrade/renew his various credentials, which costs US quite a bit! With all of our frugality and ingenuity, we live pretty nicely,(with occasional bad streaks) but we do wonder HOW FAMILIES make it!
Every person I work with makes similar salaries to me and they are living the high life, but since I am a one person income family its not that way for me.
The roommate and I keep a fairly large supply of staples in the house -- dried beans, barley, rice, oats, red winter wheat, pasta, salt, flour, sugar, honey etc., as well as cans of tomato sauce and such. We keep water purification supplies on hand. We've talked about getting a small stove to boil water outside in case of power outages. I've been cooking grains with boiling water and a Stanley thermos for years -- it's energy-efficient and means I don't have to actually cook anything in the morning.
My colleagues might think this is strange, but I don't see anything wrong with saving up for financial independence AND saving up for possible zombie apocalypse. I just set aside a certain amount of money from my monthly budget for buying preparedness supplies. Why not cover both sides? Invest in index funds AND ammunition. ;)
We do number 26, too! I got into a habit of it two years ago when we had a massive drought in Alabama and the Water Works Board was surcharging any household who went over a certain usage amount. Now that water levels are back to normal, I just haven't gotten out of the habit. Its good conservation of resources and its saves a little bit of money.
I think a lot of Americans who are born in America have this ridiculous sense of entitlement. They actually believe that everything should be handed to them on a silver platter. Some immigrants, on the other hand, are not used to concepts such as overtime, employer provided healthcare, unemployment benefits or food stamps . . not working your ass off in the countries they are from means not eating, watching your family suffer, or worse. I worked with a guy born on Staten Island once who thought some of the functions we handled were beneath him (fresh out of DeVry) and I've worked in a Dunkin Donuts 6 days/12 hour shifts with an immigrant who used his one day off to go to school so he could better himself. I honestly feel America is producing a bunch of overweight, poorly educated, lazy brats these days.
Just go to DaveRamsey.com and in the search box type in drive free and watch the "drive free, retire rich" video.
LEARN TO READ, YOU IDIOTS! NO WONDER YOU ARE IN DEBT, BECAUSE YOU DON'T READ THE FINE PRINT.
I have been backpacking around the world for a year-ish now and people are all very incredulous when I tell them not only what I've already seen - but that I plan to keep on traveling for a couple of years from my internet-based work!
It's all about trade-offs I tell them - I make enough to either live frugally and comfortably in the states...or enough for perpetual travel in less expensive countries :-)
Here's a money-saving tip: READ! Reading is cheap, enlightening and takes up quite a bit of time that would be spent purchasing iPhone apps and watching movies at $10 a pop. Try it--you'll thank me :)
My monthly bill turned out about 5 bucks less per month than expected. I figured out it was because wit the iPhone don't call 411 for phone numbers any more. I use yellow page apps instead which have buttons to make a direct call to the number.
The Yowza app for iPhone is a great way to find deals and discounts and clip-less coupons for retailers and restaurants in your area. It uses the gps to locate nearby deals, and when you go in to use a coupon you just show them your phone screen to get the discount.
My iPhone was $99, not $300.
I do EVERYTHING on my phone, it saves me a great deal of money and time, which for me IS money sometimes.
I do not have a landline, never missed it.
since I started blogging at http://www.mewithoutdebt.com , most of my close friends and family know how much I make and how much deep I am in debt.
I think most people who don't know us and just look at our jobs titles and where live (CA) would be surprised, but with friends and family we're pretty open about what we make b/c I think it's a bit ridiculous that $ is such a taboo in out country. I lived in several other parts of the world when I was growing up, and oftentimes in those places one of the first things a new friend would ask is how much you make. It was rather shocking at first, and as a westerner in an very poor country, it was somewhat embarrassing, but I learned to appreciate the assumptions I didn't have to make by knowing.
My hubby and I make significantly less than his side of the family and on par with or more than my family extended family. The thing that would probably surprise people most is that, though I am self-employed, I make more than he does (though self-employment taxes make my usable income is significantly less than my pre-tax income). Hubby works 1/2 time at a public university and makes about $25,000--much less than he would in a similar position in the private sector. I am a private tutor, and, while many of my (extremely wealthy) clients assume I "do VERY well for" myself, I think they'd be surprised at how little I actually make. Everyone else I know, on the other hand, thinks that tutoring is about one step up from minimum wage and consider it temporary side-work rather than a career. My pre-tax income is about $60,000. I only work during the school year and less than 40 hrs. a week at that. In addition to working 1/2 time, hubby also has 1 month off (also unpaid) in the summer. When we were first married about 7 yrs. ago, we got into about $30,000 of debt over 2 yrs. (I had some health problems, was just starting to build my business, and hubby wasn't working)...after paying that off over the next 18 mo. we started saving and have since purchased a small home and that is and has been our only debt. We have several expensive hobbies, and although we're saving some $ each yr., we're not yet saving enough for retirement, so that is where our attention is now turned.
People who see us around town see my kids in nice clean, name brand hand-me downs. My husband and I are both sharp enough dressers. We keep our car nice and clean. But people who know me through my blog know that we make less than $1000 per month, way under the poverty line, and happily with no debt.
I am always shocked by how much my friends make, so I’m sure they’re shocked by how much I make. My friends are mostly smart, interesting people who have gone into programming and work way too many hours and make 2 – 3 times as much as I do OR MORE.
I have a 40-hour work week in a stable government job and I make the same salary as a first-year teacher in my area. I assume it’s just as difficult for them as for anyone to imagine living on 1/2 or even 1/3 as much money as they earn, but then all you have to do is look at my car, look at my house, notice that I always have roommates, etc., and then it all makes sense.
Fortunately, most of their social gatherings are parties at their houses or occasionally at a restaurant, and all of the expensive things they talk me into (like visiting them while they live in Europe) are things I really want to do and can totally afford.
My family knows I'm wealthier than I look but since most of their incomes are higher, they are too embarrassed to ask me for money. Heh.