The Vegas gets old.

I don't recommend spending 3 whole weeks in Las Vegas. I stayed on the Strip, but actually went into the heart of Vegas maybe 5 or 6 times total. Still, it took its toll. I was fine until this past Wednesday--i just hit a freaking wall in terms of being here. I've only been gone on vacations for about 1 1/2 weeks max since i started working (if i was lucky), so this 3 weeks away business really got to me!

My co-worker was really nice while i was complaining about it--even though it was my fault for staying over the weekends the whole time--and suggested I take off early yesterday and not come in at all today. How lucky that a) he was my field partner and b) the work was such that i didn't need to be there, really. He even suggested that i count the time towards my hourly goal so it wouldn't count against me at the end of the month. (note: this is technically cheating the company, but I've been working really hard, we have the budget for this, and the project manager signed off on this idea, so I don't feel as bad).

so, basically, my time in Vegas has been awesome. I got off of work by about 3, on average, every day (starting at 6 am), so I had lots of free daylight time to explore. The first night i arrived I went down to the Strip and saw the fountains at the Bellagio, the Volcano at the Mirage, and saw the show at TI. the rest of the time I went to Valley of Fire State Park (4x), Hoover Dam (3x), and Red Rocks Canyon Park (2x). good hiking, great scenery, even better rocks. My college roommate lives out here and this week one of my best friends from grad school was out here for work, so we hung out Tuesday, had dinner, had a great time. Last night, my college roommate got my grad school friend and I free tix to Cirque du Soleil's "O." She works there, so she gets the opportunity to invite friends to sit in the lighting booth!! it was great to see a free $100+ show, even better to see the workings of the show, and the best to hang out with some of my good friends! (yes, 'priceless' is the word).

Some things I won't miss:

The traffic. Good God, how do these people deal with this every day? It took me 2 hours to go 10 blocks and back last night. I was really worried we wouldn't make it to the show in time to pick up the free tix, and I didn't have dinner b/c of it.

The drivers. These people do NOT know how to drive. They run red lights like their lives depended on it, honk at nothing, and will cut you off for fun. Also, I could've amassed a good 150 points, with all the people that wander in the road with no street lights, wearing black clothing. Hello? are you on a suicide mission? 'cause I can't see you. idiotas! the first night i was here i was driving around and, on the other side of the median, on a pitch-black portion of road, were two old people in hoverrounds (mechanized wheelchairs), merrily chugging along at 8 mph
going the wrong way, in the middle of the other side of the street. WTF?! wieeerd.

the heat. agh, it's the end of september and it's 98 F!!! hot, hot, hot.

the sun. again, hot, hot, hot. some clouds would be hella nice.

the dry air. my marrow is sucked out, my skin is crocadilian, and i can't wait to get back to what i thought was the desert in SoCal! it's going to feel positively humid!!

the work. getting up at 5:30 am is not my idea of fun. ever. least of all, when i am waking up that early to go stand in the sun all day.

the contamination. the Site is a Cancer Factory. i can feel my future kids dying and my ovaries shriveling up.

at least i got off that early every day so i could salvage part of my day. usually fieldwork lasts until every last drop of the sun has been squeezed out. and, i've had a 3 day weekend every week i've been here! it really hasn't felt like that, though...

i was just informed that i'm going to be coming back here every month to do some minor fieldwork, since i know the Site so well by now. Grrreat.

anyway, i changed my flight out so i leave tonight. i'm definitely psyched.

Money-wise, I can't wait to go home and check all my savings accounts and see what has amassed in my absence and shift some things around a bit, get back on top of everything. I must have saved a bunch of money in food and random things this month, too. all the better!!

next few posts: link personal cc to company? and: renter's insurance and switching auto insurance companies.

My Money History--Part III

...so that brings me to grad school. Finally, i had money coming in. a regular, steady paycheck. i had a research grant and a stipend, so i was luckier than most folks who go to grad school. not that it was enough to live off of in one of the most expensive places to live in the U.S.--i made $625 every two weeks. Rent was $575/month. So really, i was forced to live off of one paycheck. Even so, i think i did extremely well--i had a car i owned outright ($1150 for an '87 station wagon, complete with wood paneling!), a surfboard, an ok room, a very active social life, everything i needed to be happy. Luckily, my grandfather put $1000 in a money-market fund when i was 5, and it had grown to $5000 when i graduated college. i took most of it out to move way, way across country (and ocean) to go to grad school, and set up my life there. i went a little stir crazy buying crap at that point, but i had been not spending for so long in college that it had kind of built up pressure, and i needed a release. In all, i did pretty well budgeting on that little. the sticking point was the cost of flights home at Christmas and during the summer. Upwards of $1000 per trip, twice a year--$2000 per year just in transportation costs to get home! I was in grad school for almost 4 years, so I paid about $8000 in flights--well, technically I've just finished paying that off. Those flights went straight to my credit cards--there was no way i could pay $1000 at once, twice a year. my parents could barely affort their mortgage, and my sister became ill, so there was no help there. Those flights are what kept me connected to my family when they needed me, and were well worth the money, but put me into a debt that took until now to pay off. then, i just got sloppy. i already had thousands in credit card debt, several thousand more student loans i was deferring, so i figured, what the hell? may as well put groceries on my credit card and have a little cash for emergencies in my checking. so...i did. my credit card balances never topped $8000, but i wished i'd paid them off instead of charging little things. In grad school i learned both how to budget my money, how to live within my means (mostly--there was NO way i was giving up seeing my family at Christmas, no matter the cost!), and how badly out of control credit card debt can get.

Which brings me to present day. I had been putting $25 or so per month in my money-market fund while in grad school, so i had a nice nest egg when i graduated. i moved across country again, back home for a few months, and then moved to SoCal with the $3000 i had saved up. For what reason did i move there? i'm not sure. just to experience it, i guess. I had no job, no car, no apartment, and no friends. but i was determined to make it work. i got a pet-sitting gig the first month, which allowed me to live for free while searching for a job and a place to live. i found a place within 3 weeks, and then found a job after a month and a half--after i was down to my last $100. it was part of my self-education--can i do it? i like challenges.

So i stayed sloppy while i figured out how much my new salary would afford. I bought stuff i wanted--an mp3 player, a car (again, i own it outright, a '98 neon with 72K miles for $2750), a fancy cell phone, a digital camera, groceries, furniture, and all the start-up costs. my credit card debt actually ballooned even though i made way more money than i thought i would (my starting salary was 10K more than i thought it would be). i went along this way, started paying the minimum on my student loans, for a year and a half. then...it hit me. right around the first of this year i sat down, calculated how much i owed, and it floored me. I've NEVER been comfortable oweing anyone so much as a dime, and here i was, happily ignoring the $11K in debt i had. ELEVEN THOUSAND DOLLARS. that i owed. that weren't mine. that i was paying a little here, a little there, but really wasn't going anywhere since i kept spending. what was i thinking? what was i DOING? my family is in disrepair and i'll eventually have to take care of both them and myself, and i OWED THAT MUCH?! this was so very unlike me. i knew how to live off of a grad student's salary, i made enough to take care of my monthly expenses, plus i had some extra, so how was i going MORE into debt?! how? something needed to be done! immediately!

and that brings us to today. I've just scheduled my last credit card payment--and can't help but brag a little to anyone who will listen. I've got a 401K, plans to get a Roth, and will shore up my emergency fund. I am on my way, and I like myself that much more for that.

My Money History--Part II

My parents' philosophy then was that while I was in school, my job was to be a kid and work hard and get good grades--which i expected of myself, anyway. They didn't want me distracted by a part-time job at Hardee's. I was lucky that they felt that way and had the funds to make that happen, but that also means i never really understood that work = money.

I think i even tried to start a business as a kid--i was big on being environmentally conscious after seeing a presentation on recycling and water conservation in the 5th grade. I immediately taught my mom and sister how to turn off the tap when they brushed their teeth (something that has persisted to this day!), and I wanted so badly to Save the Earth. This was something that i felt (and still feel) so strongly about. So, i dreamed up a club for me and my friends, with a focus on teaching people how to recycle, and pick up litter (i was big on litter back then). This was before the days of adopting a road to clean up, and our road had litter all over it. So I went around my neighborhood, trying to gather funds to buy those pokey-sticks the janitor-people had at amusement parks to pick up trash. I organized a clean up day for our road, I was all about it. However, when my mom found out that i was taking money from the neighbors (they each gave us something like a dollar or so, to humor us), she was very embarrassed and made us give it back! and the club was disbanded...too bad. I think that was seriously a turning point in my development.

I also was a big collector of things. I surprisingly knew alot more than i thought i did, looking back. I think i saw an antiques roadshow or something like that, and that prompted me to build collections of things that i thought may be valuable later on. at our church auction, I bought a butt-ugly pepto-bismol colored McCoy vase, simply because I thought it would be an investment. I'd heard the term, "a real McCoy," and boy did i think i was going to be rich! ...that vase is still in my room at home. :) My other short-lived collections included: stamps (from all over the world), buttons, rocks (i still collect those; i'm a geologist!), stickers, shoelaces (don't ask), peppermint candies, and finally, the biggest, longest-lasting one: coins. I was obsessed with money, anyway, so that made perfect sense. I received a book about coin collecting from my parents, and lucky for me, my grandfather also collected coins, so it was a great boon to have him around, and we bonded over that, as well. He gave me a couple of rare-ish coins (no idea where they are now...), and i taught myself what to look for and what everything printed on a coin means. I got a great education about the history of money that way. However, it still didn't teach me how to use it wisely. all i knew was that wheat pennies were special.

In 7th grade math class--I think it was pre-algebra--we had a 6-weeks Stock-Following project. We formed groups, got $5000 of play pretend money, and picked a couple of stocks. It was a contest--the winner received a prize for making the most money. But really, none of us had a clue how to pick stocks! Nor did we really understand how to diversify or cost-average. I don't think any of us learned anything except that picking stocks is a gamble, and it's pure luck if it works out, especially in the short-term. That was the extent of formal financial education until I took it upon myself to read "Money for Dummies" a couple years ago when I graduated from grad school and entered the Real World.

in college, i was very, very good about money. i never held a credit card balance--i was afraid of them! since i had no money coming in (it was all for tuition), i knew i wouldn't be able to pay it, so it stayed for emergencies only. i signed up for a credit card back in the day, for the free t-shirt, but really, i didn't use it. again, my parents said that my job was my education, so i didn't really work my first year of college (until my dad became sick), but the deal was, i would work during the summers to pay for books and other fun stuff during the year. And i did. one summer selling sunglasses (EyeBrowse) at a kiosk in a mall, one summer selling shoes which lasted into fall when i transferred to a store near my college, one summer lasting into the entire school year working for my advisor. It worked well--i always made enough to pay for books (although i had to sell them back at the end of the semester to pay for the next semester's books, and tuition was mostly covered with loans, scholarships, and some work-study), with some left over to pay for trip somewhere during spring break. I went to Florida every spring break! my friends all went out to eat and bought stuff during the year (i went to a pretty affluent university), but i always said no--i knew that if i blew my money during the school year, i wouldn't be able to take a trip later. I'm great at not spending money. That experience was a very good lesson in prioritizing. Not that i didn't resent not having as much stuff as everyone else--at that point my family was on the decline and i was going through a tough time adjusting to being financially independent--but I knew where the cards lay and that i didn't want to get into trouble by being stupid. I wanted to wear all the cute stuff and drive a cute car and all that, but i knew i couldn't without severe repercussions, so...i went without.

And I'm so grateful I did. My situation would have been much, much worse if I were less short-sighted from 18-22.

Amendment

I have to amend my emergency plan after thinking about it a bit. After selling a few assets (step 3), I think I would have to look into getting a 0% interest credit card and use that before I tapped my Roth or 401K. it's not ideal, but...I really think that should be a stop before using up retirement funds.

My Money History---Part I

I don't know why I'm surprised at the lack of education that children get about money--parents are just as bad about learning that stuff. I was a child obsessed with money gathering, and I never knew about compounding interest (as it applies to finances) until just recently.

When i was little, say, 7 or 8, I told everyone i knew that i was going to "be rich" when i grew up. Earlier, I was going to be the 'first woman President of the United States,' (obviously that didn't pan out) or a lawyer. I KNEW, even at that young age, that money mattered. Alot. I don't know what prompted my fascination with money, but it may have come from seeing an episode of Robin Leech's "Lifestyles of the Rich and Famous." I loved that show, and i loved impersonating Robin's voice when playing tea-time and house.

Here's what i knew: 1) rich people had fun stuff, like yachts and fancy cars and big huge houses with stairs and a pool (my thought as a youngin' was that only rich people had houses with stairs or pools), 2) rich people had power (after all, they were on TV!), and 3) I wanted to have stuff and be powerful. the President thing captured my imagination because I wanted to show that girls could do anything boys could do, plus i'd make history!, and plus Presidents were rich and powerful. and of course, lawyers are famous for their reputation of high-wage earners (didn't really know their other reputation was quite yet!). i knew i didn't like seeing things cut open (my dad was a hunter, so i saw many a skinned/gutted rabbit and deer as a child--ugh, scarred for life!), so being a doctor was out. That was my mental state at 8--i knew i wanted to be rich, but had no clue how to get there except a high-paying job. i figured, everyone tells me i'm super-smart (they wanted to skip me a grade but my social skills were pretty far behind normal, so that didn't happen), i'll just figure it out! I always, always knew i was going on to a 4 year college, but the grad school stuff came much later, like, as in a split, last-second decision the summer before 4th year of college.

At 8 as well, and probably starting at about 5 or 6, we got an allowance every week. I think it was 50c or a dollar at that point. It was supposed to be for things like cleaning our rooms and helping out around the house, but my sister and I quickly figured out that we would get an allowance no matter what we did. My mom's a pushover, and very inconsistent in her rules, unfortunately. for birthdays and Christmas, i only asked for money (and still do). i remember at one point amassing 100 one dollar bills, fanning them out in my hand, and pretending i was Soooo hot that i had to use them to cool down. my sister was quite impressed. so was i! I wanted so badly to be rich. i thought i knew how to--just keep the money you have and don't spend it, ever! it was a very good lesson in how to discipline yourself, but I never really had to save up or work for anything i wanted--a birthday or something would come around and I would receive it as a gift, and my parents paid for food, shelter, fun toys, and later on, any clothes I wanted. I wish i had had to really work hard for something i wanted--i thought the point of having money was to just...have money, in order to impress people and buy stuff to impress people. This, my friends, is my story of how I was taught to Keep Up With the Joneses. Thanks Robin Leech, with your caviar dreams and champagne wishes, you could have ruined me for life...!

But luckily you didn't, as we'll see in the next installment. I became quite the little idealist. Part II to come soon.

The Cost of Security--Go for the Oh.

A post on the YF and B message board prompted me to make a plan for both my money and future financial security. As a review for Suze's site, i have to say false and misleading information is rampant. For example, "A.E" keeps telling people that the money in a Roth IRA cannot be taken out until you've had the account open for at least 5 years. Simply not true, and I think it is causing people to delay putting money into a Roth because they think the money is locked away forever. Also, it gives the impression that after 5 years, you can take $$ out without penalty, which is not the case--your contributions to a Roth are always available for withdrawal, but your earnings cannot be taken out for 5 years. And even then, if you take earnings out before retirement, you will be penalized unless you take the earnings out under very special circumstances, such as first time home buying or some financial hardship.

So, anyway, back to me (my favorite subject!):

I have ~$2300 in my various savings accounts, which is about a month of expenses, maybe 2 mo. if i really live cheaply. I plan to check into my disability plan--however long it takes to kick in, I will build up funds equal to sustain me during that time interval. I think it's 3 months. So that's probably $3700 more $$, or about 4 months of saving right there.

At that point, I'll start and fund my Roth to the max. $4000, or 4 more months of saving.

Then, I'll work on maxing out my 401K. $15000. I haven't worked out how much I could actually contribute, because $15000/yr (or 30% of my salary) would probably make me go over-budget each month. I need to work out the implications for the lessened tax bite in this case, as well.

While I'm living in a dream world, I'll fantasize that one day I'll make enough to have a fully funded emer. fund, roth fund, 401K, AND have some left over--in that case, I'd start building a taxable non-retirement portfolio, with the goal that one day i'd have enough in dividends to stop working entirely.

In the event of an emergency, my proposed plan of attack would be as follows:

1) deplete cushion in my checking account (1 month)
2) deplete emergency fund (3 months)
At this point, disability should kick in, so my other funds should last me alot longer than projected, but in the case that I lose my job and for whatever reason cannot even take temp work or work of that nature:
3) sell assets/stocks/taxable non-retirement funds (1 month)
4) tap Roth (2 months)
5) tap 401K (1 month)

So as soon as i start my roth and shore up my emer. fund, i'll have about 8 months of emergency expenses.

So therefore, I don't really buy into the idea of 8 months of emergency funds just sitting around in a savings account. i think 3 months (or disability time interval) is perfect. I think retirement funds are useless if you are homeless up until you reach the age of withdrawal, and therefore should be considered extreme emergency funds. If you are going to lose your house, and renting will cost more and you've downgraded to the least amount of space you can possibly need, cash it in. if you can't afford to feed your family--cash it in. Those type of circumstances, and only after you've absolutely exhausted EVERY OTHER OPTION, are the type that I think are acceptable uses of retirement funds. I'm the type that won't touch that money unless something really dire happens, so I trust myself not to use the money when i want a jaguar instead of my neon when my neon finally dies, or when i get cast on Project Runway (Vincent, you aren't that great, i'm afraid...). Therefore, I consider my retirement funds an extension of my normal emergency fund, and I know I will use it wisely.

If you expect to need more money, that gives you plenty of time to sell some stocks, whatever, and then look into using your Roth. Any more $$ and you are probably losing compounding/time interest (what if NOTHING ever happens?), any less and you are losing security. Of course, even after I finish building my 3 mo. emer. fund, i'll continue to contribute a small amount to it in order to pad that time a little bit, but my main focus will shift to other major goals. I don't think you should ever stop contributing $25 or $50/mo to your emer. fund. If it gets so huge that you feel bad that it's just sitting in a savings account, perhaps a high-yield CD ladder, bond, or some other secure asset could be looked into.

So that's my two cents on emergency funds. There's no specific amount of money that "should" be in your emergency account, it's just what you feel comfortable with. Ideally, I'd love to have a year's worth of money just laying around "just in case." But I think it's important to forego a tiny bit of security in order to let your money start working for you. There comes a time when you are losing more money with the illusion of security than you are gaining actual security (compounding interest over time). I think this is why people get so comfortable with their debt--see mp dunleavey's article.

It's so nice to have liquid cash (I am very guilty of that--ever since college i've kept at least a $1000 buffer in my checking account, "for emergencies"), and you are so used to having debt, that the idea of going back to zero is overwhelming, like starting all over again. People don't see the detrimental effects not paying off their debt is having on their bottom line. pay it off. keep a small emergency account, but put EVERYTHING towards the debt that you can. you are losing so much by keeping that debt (in time-compounded interest, in self-worth, in integrity), and you'd be so surprised how great it feels to be unburdened by bills every month, and how much conviction, self-respect, and discipline you will gain (and then use to never go back INTO debt) once you are back to zero. For some people, zero should be the GOAL. so instead of the gold, go for the donut, the nada, the bumpkiss (what is a bumpkiss?!), you will be glad you did. Sometimes "0 net worth" can translate to amazing amounts of "self-worth." And the ball just keeps rolling from there.

October Third.

I just scheduled an automatic payment to my Chase credit card for October 3rd (the date of my next scheduled paycheck) for $1000. This represents the very last of my credit card debt!!!

I'm going to reward myself tonight with a movie. I loved Garden State--so I'm going to see The Last Kiss. Zack Braff captures my mental state as a 20 and almost-30 something perfectly. plus, he's cute and funny.

yay!!

p.s. Vegas is awesome. reminder to myself to post on this later!

The U.S. Government does not give refunds in the event of emergency evacuations

My work finished early last week and I decided to go to Hoover Dam. it's about 20-30 minutes from Vegas, a quick side trip. I was going to go on the tour and then try to make it to the Valley of Fire state park for sunset. Ah, the best laid plans...

(I'm going to preface this with the note that tragedy seems to kind of follow me around, giving rise to my recent notion that i'm going to die a violent death at a young age. I'm a walking Final Destination, which ironically is a movie that just. won't. die. the exhibits for my case: I was hit by a car my fourth year of college. One of my grad school classes found 2 dead people on the lava flows during our first field trip ever. A huge wildfire occurred near Palm Springs when i was doing field work there. I probably was sick last weekend due to the famous E. Coli poisoning that's in the news right now (i use that brand of spinach leaves and had salad the night before i started vomiting all over the place) and now a crane falls on the road mere minutes after i drive under it. wtf.)

So i get there, pretty excited about driving across the Dam (which i wasn't aware you could do). went through their very thorough security checkpoint (a dam dude waving every car through with nary a glance), drove across to AZ, since i had NO PLANS of going to Arizona in the near future and was eager to cross AZ off my "I have been in ____ state" checklist, and found a dam parking spot. Walked back across the bridge, in 50 mph winds--seriously, i lost my hair thingy in this wind and had to physically hold onto the side of the dam bridge to keep from flying forward at one point--and went down to take a dam tour. unfortunately, they do not allow gatorade in the dam building (but DO allow water, good thing!), so i rode back up the escalator to fill my gatorade bottle at the water fountain. the guy in front of me drops his cell phone on the escalator step, so i was looking down when i heard a rumble like you'd think an earthquake would sound like, or maybe the calving of an iceberg. the guy goes OH MY GOD! and i think he is just completely overreacting to dropping his cell phone on the escalator...i mean, pick it up, dude, it's ok. But then i look up to where the sound is--i see a large dust cloud emanating from the top of the cliff face where they are building another bridge across the Colorado. See this for more info.

Construction is going on there, and it looks like it is completed except for the section right across the Colorado. The workers use a cable and cable cars to cross from one side to the other--mind you, this is a thousand+ feet above the dam, so...it's HIGH. There's a perfect view of the bridge from the dam, so all the dam tourists who were outside saw it--the crane arm on the nevada side of the bridge collapsed across the road (possibly hitting some people?), which then put too much stress on the AZ side of the bridge, causing the cable and cable cars and the other crane to also collapse. the cable cars are just dangling in the middle of the void above the Colorado--see pictures below. I personally think the wind was too much for the crane arm to handle. i mean, i would've lost my backpack had i not had it on both arms, high school style. (remember when it was cool to just have it flung over one shoulder? only total geeks used to put their Jansports around both arms). Sirens and emergency vehicles were screaming, cops and official looking people were running around, and a crowd of people were freaking out. Anyway, i scrambled around trying to find out what happened exactly, and the dam workers all said that it was going to be a few hours before we could get back into Nevada, so i decided to take the tour while i waited. i mean, that is why i was there, right? and traffic was AWFUL, just building up like crazy. i went down, paid, and saw exactly 5 minutes of the dam movie before it was shut off and we were told that the dam was being evacuated and we should wait in line to get our refunds. 3 minutes later, the line hasn't moved and the cashier ladies are staring into space, apparently oblivious to the situation. a national guard looking guy escorts this dam dude to us, who says that we couldn't get refunds, but our ticket was still valid so we could come back anytime. the crowd went into a tizzy and people started yelling about how they were from a different state and wouldn't be back there ever and stuff. the guy then says, "the U.S. Government has a policy to never give refunds." how is this true? i mean, taxes. you know?

Before the Collapse

Right After--dust cloud still slightly visible

Hanging cable and cars

Overview--After

in addition to that, in order to get back to LV, you had to drive through -outer Mongolia- Arizona approximately 300 miles out of the way. Cops were EVERYWHERE, blocking off all forms of traffic into the area. I stopped at a town called Grasshopper Junction to pick up a map and the town (which consisted of one (1) shack-like shop) had its electricity cut off. I guess they stopped the turbines and stuff at the Dam. Nuts! It should have taken me a half hour to get back to LV, but with traffic and the detour and the half-mile long line to get gas, it took me 5 hours to get back to my hotel. argh. and remember, i 'didn't plan' on going to Arizona today at all. I effing hate Arizona now.

one good thing, though--i exchanged numbers with Andrew*, who is also alone in Vegas for work, while we were waiting to figure out what to do. so i may have a friend** to tool around Vegas with this weekend and next week! of course, with my luck, he's a serial murderer***.

*may or may not be his real name

**this is negotiable, as he's very cute.

***but at least i'd be killed by a cute serial killer.

also, ooh, i sat next to the mayor of Las Vegas at Tony Roma's tonight. Mayor Oscar Goodman used to be a lawyer for the mafia and he's kind of famous for being very outspoken. The hostess called him over to take a picture with her, and i was trying to figure out who he was but kept coming up blank (don rickles? a friend of Sigfreid's? Roy's? no clue.), so i asked her and she obliged me with all sorts of stories about him. Apparently one time he read a story to kindergardeners and then they had a Q and A session: one kid asked him what he would take if he were on a deserted island...his answer? A huge bottle of gin.

Nice. start the kids early. after all, they are in Vegas.

Pro-tect yo'self

One of the blogs i read semi-regularly (SingleMa, see the sidebar for the link) has a post asking the question, "What would you do if you were fired today?"

Well, since i'm in cc debt still, my e-fund is paltry. However, with one more paycheck, and I will be free and clear of debt--since I started college at 17 [i didn't have cc debt in college, but i'm counting student loans as part of my debt history]! I've made it a habit since i got a regular paycheck in grad school to put away $25 to $50, or whatever i could afford each month, in a high interest savings/money market account. I didn't really know what i was doing when i was in grad school, but i liked the idea of saving a little bit, just to amass funds, i think. This habit paid for me to move to Southern Ca with no job, no friends, no house, no plans...nothing, with minimal worry. by the end of grad school, i had over $3000 saved for this little endeavor! I'm still continuing that trend, with $150 per month going into a savings account each month. Right now, i have roughly $2200 saved--a great start on my e-fund but hardly over one month of expenses if i were laid off. I could maybe make two months if i ate ramen every day and didn't drive. More if i used my cc's (perish the thought!). This has to change. Again, my deal is security--if i don't have it, i'll go nuts. i'm incredibly edgy now that that has really sunk in. I hate that i NEED my job more than they need me.

In addition to protecting yourself in a layoff (how does unemployment work? I'll have to research this and post on it later), it is very very important to protect yourself and your family from environmental concerns. How scary are those placards detailing the possible cancer-causing contamination in every building in CA?! Without going into too much detail--ironically for this post i could probably get fired for divulging confidential information--we still are finding new contamination in various places around the country. And this is the U.S.! think about what kind of crap they are still releasing in Mexico!! The state/federal govm't does what it can, but they are very very slow to realize the extent of contamination/take action. Meanwhile, houses are being built on contaminated soil/groundwater. your kids could be swimming in it when they go down to the local stream. they could be eating it when they make mudpies and decide to 'experiment.' I'm serious about this--it's disgusting how much is out there. I deal with it every day. Take it from me, get a water filter, and RESEARCH as much as you can about the history of a potential property/surrounding areas before you buy it. You never know when you could be living in 'Erin Brockavich.' (Do inspectors usually go into this kind of detail for personal property? I know big businesses have to go through and have to prove that the land is uncontaminated before they transfer or sell the property, but how about private land-owners? I'd love to start up a business doing this kind of work. Note: proof of ownership/patent pending on this idea if it is not already available.) Your health will thank you.

An aside--since i'm away from home for the rest of the month, i have put off the insurance change until i can really be accessible. My potential agent is horrible at getting back to me at a reasonable time, and not once has he picked up the phone the 10+ times i've called him. So, i just paid the premium for my old auto insurance (it was due today), and i'll just get a refund when i switch.

Anyway, i am probably the only person on earth who can go to Vegas and 1) not gamble 2) not spend any $$ (my co. pays for food, lodging, rental car), and 3) not drink. it's so dry and hot, i can't even fathom it. I may go down to the pool later tonight and have a drink, but i doubt it. i'm a social drinker, so i don't get much out of drinking overpriced cocktails by myself.

I lucked out and the subcontractors ran out of work for the week, so i have today off! i have a small task to perform by Monday, but i can always do that later this weekend. So, my plan is to visit Hoover Dam today and stick close to the hotel in case my co. needs me to do anything else for them today. Tomorrow--i'm planning on visiting Bryce and hiking the Narrows. again, this is by myself so if the place is deserted or i feel in any way uncomfortable with this plan (i'll of course check myself in with the ranger and tell them my plans), i'll bail and just drive around to see the scenery. Also i'll maybe catch Valley of Fire at sunset--it's supposed to be amazing.

Wish me luck! and sorry for skipping around on topics like i do. i tend to get a million ideas at once and want to write about them all. But, as they say, it's my blog and i'll write about what i want--mostly money, political issues, and my life.

The Slot Virgin

So I'm here. After a long-A day in which i rushed around finishing getting ready for my 4 day trip only to come into work this morning and, an HOUR before I was to leave for my airport shuttle, the schedule was changed and I'm now here until the end of the month. which was the original plan, a month ago. So then i went home, threw some extra stuff like underwear in my suitcase, and was on my way. Now i'm here. and i'm exhausted--too exhausted to do anything too fun and vegas-y--and the dehydration has already started. my eyes hurt! no contacts for me, that's for sure.

I have a money question--those curb-side skycap people at airports--are you supposed to tip them? I mean, i've never seen anyone do it, but it seems like it's warranted. You're skipping ahead of the long line at the ticket counter. hmmm. i don't know. i felt like i should today, but didn't. the airport shuttle guy, though--he got a good tip, since it's on my company and they've been screwing around with me lately. they can afford to give this nice guy a few extra bucks...is that vindictive? or just passive-aggressive? 'cause i'm good at both.

So...I'm off to lose my Vegas virginity with a little light show at the Bellagio fountains. i may (gasp!) even put a quarter in a slot machine or two. Who knows what the night may bring?

Many things at Once

So I haven't heard back from my insurance agent yet--this post will be about something else. Also, I've decided not to keep this strictly a financial blog--many of the posts will be about money, but only because it is currently my hobby and I enjoy talking/reading/thinking about it, so it'll be a natural focus for my writing.

Given the date's anniversary and the large amount of coverage, PLUS the fact that i'm boarding a plane tomorrow, I've been thinking alot about the state of our country--in particular what "American Pride" now means. I'm originally from the South--something that has filled me with both shame and pride at various times in my life. For awhile in college/grad school, i trained myself to get rid of my accent while talking--i wanted to distance myself from that lifestyle and stereotype SO MUCH. The South represents alot of things--but to most people it's toby keith, confederate flags, extreme racism, and trailer parks. They're all true--people that buy into the redneck lifestyle (don't get me started) actually exist! whether i'm looking for them or not, i find that i run into those things alot more out there. However, that is not to say that the good things aren't also true--good ol' sweet tea (yummmm!), extremely friendly and helpful people, very relaxed, laid-back lifestyle, and much less of a focus on vapid things like prada and perfectly manicured lawns. it's definitely more down to earth back there. no one dresses up to go to the mall, you know? So there's this dichotomy and i struggle with reconciling myself with my Southern heritage every day. Talk with my accent or no? admit that i used to hunt regularly with my dad and was a member of Ducks Unlimited or no? Tell people that we have 3 broken cars and a boat on our front lawn at this very moment or not?

The South has kind of a monopoly on the redneck image, and the redneck image is all about American Pride, at all costs--it just seems to me to be an excuse to have a closed mind and not change or force yourself to be open to new ideas. People volunteered for the Armed Forces to protect other people's right to remain idiots. Does that seem right to you? It's so ironic. If i were risking my life every day for someone, I would not want them to bury their head in the sand and not even try to change their perspective or try to understand what is going on--or at the very least be open to the fact that they may be wrong. Instead, it's this idea that if anyone says anything at all critical about the way our country is being run, they are automatically anti-American! What IS that? NO--the fact that I can even say that i disagree with the war is the very essence of being an American. It does NOT make me against my country--it is the very principle that our country was FOUNDED ON.

This fanatical need to have American flags on cars and whatnot is also very awful. The gesture seems less sincere patriotism than a jumping on the bandwagon. It's almost a witch hunt--hurry, act patriotic so no one thinks you're a bad American! c'mon, people. Get with it. you are more than popular opinion. you are more than a fad (and yes, flags on cars right now, even those 'support our troops' ribbons, are fads. yes, you SHOULD support our troops, but does that mean that all the people who DON'T have ribbons hate the troops? Of course not. In the end, cold truth? Patriotism is a fad right now. The graphic bombardment of it will lose its steam with another tax hike.). you are, as my title suggests, many things at once.

Anyway, we all have a responsibility to the people who died 5 years ago today and to those troops out there right now (presence justified or not), and all the people who've served, to think about what we believe--and WHY. are you just parroting what your parents have always said? Or do you honestly believe what you are saying? It's your duty as a citizen of this country to examine that. Don't let people die for you in vain.

Oh wow, i get really riled up about this stuff, huh?

So, sorry, that was not my original idea for a post. I'm flying into Vegas tomorrow for some fieldwork. Great, the desert in the middle of September. But--I've never been to vegas, so my off time (which will be from about 9 pm at night until 5:30 am) will be spent sleeping mostly and probably an hour or two of exploring. My roommate from college lives out there now, and works for Cirque, so she's getting me booth seats for 'O.' For free! Also, I'm catching a late flight back on Saturday, so I will have a day to explore the parks nearby. Some tips for going to Vegas/business trips:

Go during the week. flights, hotel rooms, etc. are so much cheaper!! I get $150/night allowance with my company. During the week i could easily stay in the themed casino-hotels, except for the ones like the Wynn or Bellagio--those are still out of the price range. But, I have a trick--I could care less about gambling and really won't be drinking that much since i'll be incredibly dehydrated from working outside from 6 to 8 every day, so I'm staying in a hotel on the Strip that ISN'T a casino. The Hilton on the Strip has a nightly rate of about $85 with a AAA membership during the week, and that is for a one-bedroom suite! Washer/Dryer, full kitchen, and jacuzzi tub included, not to mention free wireless Internet! It sleeps 4 people, so you can cut down on costs even further if you go with others. It's everything i look for--free internet (this just does not happen with the higher end hotels), plus a way to save money by cooking in the hotel room. A refrigerator and microwave is my minimum room requirement--this allows me to store the food that I buy (well, on my company credit card) in the field and take it back with me when I go home (usually i'm driving home from LA or Fullerton when i go into the field; I don't know if the airlines will let me bring food on the plane). Free dinner, for at least one more night!

Also, I buy snacks on the company that will last past the time I'm in the field. For example, I have a $40/day allowance for food, so one day I'll go grocery shopping instead of going out to dinner--I can pick up all kinds of extras (wheat thins, cookies, etc.) and also non-perishable staples like bread.

I may or may not have time to post this week, but I will be thinking of ideas, no worries! In the meantime, take some time to day to be grateful that your financial (however horrible you think it is) and governmental (ditto) situation is much better than most of the other people's in the world.

Earthquakes and Money

OK, i know i'm letting my freak flag fly, but how exciting is it that the Gulf coast of the US felt an earthquake today? meanwhile, I've lived in SoCal for 2 years and i've felt nary a shake. well, not technically true--my computer monitor jerked to the side once and i looked on the USGS page and there it was--an earthquake! But really, c'mon--i'm not moving back to the EastSi-eeede until i feel a good one.

which brings me to my post: Renter's Insurance. I'm getting it, after reading that it is absolutely necessary to have as a 20-something just starting out. I'm a bit doubtful about its use, as I've been renting since I was 20 and can't think of a single incident in which it'd been beneficial to have. But maybe that's because I've been lucky and ignorant (ah, blessings). You never know.

I have to say, i'm still a bit wary about paying extra for something that I'm not even sure will cover me if something crazy happens. However, my past roommate had it and she went on vacation to some faraway land and dropped her digital camera in a stream. Renter's insurance covered it!

How does it work? I've found very little advice regarding suggested deductibles and limits when choosing renter's insurance. Sure, they all SAY to have it, but there's practically nothing in the way of hard numbers. and i love hard numbers (ahem, sorry, i haven't had a date in a while.).

I'm in the midst of switching auto insurance companies. I get mega-discounts for being a customer for so long at State Farm, but they still cost way more than what i've been getting quotes for. So, I'm switching to AAA--I already have a membership, and I get a discount for having both renter's and auto insurance policies there. If nothing changes, it'll be just $26 extra for renter's insurance for a year...not bad. Not bad at all. As my current quote stands, I'll have the following (in no way is this an endorsement for this policy):

Part I--Property: $20,000 / Deductible: $500 (I'll see if i can get this raised)
Part II--Liability: $100,000 Medical Payments: $1,000

Loss of Use: $4,000 Included in Premium
Personal Property Replacement Cost Premium: $34
Standard Premium (with discount): $81

Total: $115/ yr

What is "Loss of use?" Why is it $4,000? I plan on really grilling my insurance agent when I can get ahold of him on the phone (which i can NEVER do--I'm definitely switching agents as soon as i can). I'll let you know what I find out.

Earthquake damage is NOT covered in this policy. My question is, Is it worth it to pay extra for something if it has so many loopholes--for example, i'm screwed in the case of a huge earthquake. or if someone trips over my crap on the floor (I'll clean it up soon, Mom, I promise!) and sues me for a million dollars. I just don't want to go about my daily business thinking that I'm covered when I'm not. Then again, with renter's insurance I'm way more protected than without. So I really think it is important to keep in mind what kind of limits your policy has. It's a 'just in case' policy, not a 'your a$$ is completely covered in all situations' policy. Don't go around laying traps for people Punk'd-style just because you have renter's insurance--unless you are Ashton (and if you are, please call me, we need to talk about that night at Bungalow 8)! Good Lord, what kind of insurance do you think that show had to have?! Crazy.

Current State of the Moolah

Credit Card debt: $1375, plus $499.22 for car repair today: 1874.22
Bank account: $2,100 (minus a check to cc $375 to be pd this week)


Budget:
Total Income: $2975/mo (which is nothing in SoCal)
Rent: $830
Cable/Internet: $40
Utilities: $30
Car/Renter's Insurance: $45

Savings: $150
Food, Clothing, Misc.: $875
CC Debt: $1000

Assets:
Money market acct: $950
ING: $25
HSBC: $1050
Savings acct.: $10
401(K): $2000 (i contribute 3% of my salary, no match)
Roth IRA: Coming Soon!


(an unfortunate housing incident occurred this summer, raising my rent from $615 to $830 for the exact.same.room. well, we actually just moved next door to ourselves because they were selling our townhouse, but we couldn't find anything nearly as comparable for that kind of money. i love my room/house/location SO much, i decided i could pay $2500 extra over a year to keep it, rather than move someplace i'd hate. my room is the only thing that i really love about where i am right now, so, until i have more freedom to change some aspects of my life, i was begrudgingly ok with this course of action. i suspect my roommate and i will try and find something cheaper but just as nice when our lease is up.)

Also, as you can see, having my cc pd off will free up a substantial amount of cash. what to do...what to do?

Some ideas:
fund 401k to max (15K)
housing fund (60K?)
travel around/live in Europe for 6 mo. fund (12K?)
Roth IRA, funded to max (4K/yr)
new car fund (not new new, but this decade new) (6.5K)
shopping spree (!) -- but i'll limit myself to a couple of months of fun, don't worry. hey, i have to reward myself for 10 months of miserliness! i seriously have become a money nun. when i have a goal, i go full force. ah, now i'm dreaming: i really need new work clothes. a professional haircut would be nice...ooh, hiking gear! (2K)
wedding fund (ok, now i'm losing it) (12K)

so, great, i um, really have my work cut out for me. Dream big or go home.

The beginning is also the end

My story: recently turned 28 year old, recently out of school for the first time, recently gotten serious about my finances. it's a tough road, but better late than never.

As of January 2006, I had approximately 11,000 dollars of debt. Sadly, student loans only accounted for 3,500 of that. crazy, i know. at 27, i had no net worth, but Bachelor's and Master's degrees. most of my classmates in high school and college were well on their way to being home-, spouse-, and baby-owners. I had (and still have) none of that. But we'll get to that at another time. I've always been interested in money (who isn't? i mean, at least spending it), but for some reason the beginning of this year i realized that i really needed to get rid of my debt and start fresh, start realizing my goals, and ...bonus...quit my job and be free to do something that i liked.

I currently owe roughly $1300 on a credit card with 0% interest. It feels amazing, and i get SUCH a thrill paying off huge chunks of my credit card. the end is in sight, i'm itching to dump my emergency fund of $2000 into paying it off, but...alas, i know that isn't good. everyone says so.

so basically you are catching me on the tail end of debt removal. However, i have very few ideas what to do next. i mean, this whole time i've been concentrating so hard on getting out of debt that i didn't think about what came after. so this blog is going to help me figure it out, slowly. suze orman has been instrumental in my plan. i love her. also, m p dunleavey from msn money. i'm slightly obsessed with money right now. it's my past time. i need to feel secure. i don't know when i'm going to feel that way, but i'm going to go until i do.

my family is in a sad state. i could explain, but you'd just feel bad, and i'd end up whining and feeling sorry for myself. basically--i've been completely financially independent since 20, and i have no 'safety net.' most kids i know have had their parents bail them out of debt/tough spots and know that they have someone to turn to if things get really bad--i do not. besides the security thing, i am kind of glad, because it makes me completely dependent on myself. Also, i know eventually i'm going to be the one to have to care for them financially, so i need to start planning NOW. so follow me in my adventures as i trip the light financially, and try to figure out how to balance the need to do things while i'm young! and able! with the need to feel secure.