A Wedding Guest Dress (with a Baby!)

Alexis Bittar earrings and Diane von Furstenberg dress via Rent the Runway
Kate Spade clutch and Banana Republic pumps

 

Hi, friends! It's been a while since I've joined the Friday's Saturday's Fancies fun and this week's "holiday party" theme couldn't come sooner. My cousin is getting married this month, so I've been brainstorming what to wear.

Most of my dresses are summery or not quite baby/nursing friendly. Thank goodness for Rent the Runway! I have the above dress scheduled for delivery that meets all of my needs:

• Looks good on a still slightly funky postpartum body: A wrap dress (by the queen of wrap dresses!) is pretty forgiving and they're sending my dress in two sizes.
• Made of soft material: Sequins need not apply since they'll scratch Monica.
• Easy access to the boobies: A V-neck or crisscrossed neckline is preferable.
• I can wear a regular (nursing) bra.

Last time I rented a dress, I was trying to hide a mini baby bump. Now that Monica is here, renting a dress is a fabulous idea because I don't have to worry about being spit up on! RTR includes a small insurance policy with each rental and dry cleaning is also included.

And since the wedding is out of town, I'm having the dress delivered directly to Ohio. Having one less thing to worry about packing is another perk of renting. And then I just pop the dress back in the mail after the wedding.

If you're looking to sparkle this holiday season for a fraction of the price, I highly recommend Rent the Runway. And no, this isn't a sponsored post, I just really like RTR. And if you sign up through my Rent the Runway referral link, we'll both get $20 off our next orders.

Have a fabulous weekend!

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Improve Your Credit Score by Increasing Your Credit Limit

Good morning, friends! Coming off of Wednesday's guest post on negotiating lower rent, I wanted to follow up with a way to increase your credit score. Don't know your credit score? A great place to start is Credit Karma. It's absolutely free and you can monitor the progress of your credit score over time.

As last week's post said, 30% of your credit score comes from your credit utilization rate, or how much you owe divided by how much credit is available to you. If your credit card has a balance of $1,000 and a credit limit of $5,000, then your credit utilization rate is 20%. Financial experts recommend keeping your credit utilization rate below 30% for your credit cards individually and collectively.

If you're currently carrying credit card debt, one obvious way to increase your credit score is to pay down your balances and get out of debt. If you need some inspiration, J. Money shared four success stories and links to how they kicked debt to the curb.

But if (and only if) you're responsible with your credit by keeping your credit utilization rate below 30% and pay off your credit cards each month; then it's time to focus on the other side of the ratio by increasing the credit available to you.

A few weeks ago, I received an email from my bank saying that I was eligible for a credit line increase. I provided them with some information and received confirmation of my increase a few days later.

However, you don't have to wait for your bank to contact you. You can call up customer service or fill out an online application to request a credit limit increase. I would recommend calling and using Ramit's script. That way, you can talk with a live person, which tends to speed up the process. Plus, you ask whether they will be checking your credit report as a hard or soft inquiry.

A hard inquiry will show up on your credit report and slightly lower your credit score until the inquiry rolls off after two years. A soft inquiry has no affect on your credit score. It's OK to have a few hard inquiries on your credit report (we have them from refinancing and buying our car), but keep them at 1 to 2 per year.
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Negotiate Lower Rent with These 3 Tactics

Today we have a fabulous guest post from the folks at Zillow about negotiating lower rent. I'm a huge fan of Zillow! We used some of their tools when buying our home over 2 years ago and still enjoy checking out properties on Zillow on occasion. For those still renting, read on! And when you're done, you can search for apartment and home rentals on Zillow.

Most renters assume the advertised price on an apartment is the price they’ll pay, but in most cases additional costs such as deposits, fees, insurance and utilities apply. In fact, the advertised price may only apply to the cheapest available unit. Before getting discouraged, consider that renters may be able to negotiate lower monthly payments depending on demand in their local rental markets. While it takes a little legwork to effectively negotiate the price, it can save renters hundreds -- sometimes thousands -- of dollars throughout the duration of their leases. Here are three tactics to help renters negotiate rent.

Know the market
Consumers who understand their local rental markets are able to negotiate more effectively. Renters should figure out rents charged for apartments comparable to the units they want to or currently rent. If comparable properties charge less rent, then renters may have room to negotiate. In a hot rental market, landlords may receive multiple applications for each unit, with some applicants offering to pay more to ensure they get the apartments. In these competitive markets, renters are generally at the mercy of a landlord’s asking price. In cooler markets, landlords may be more willing to negotiate. 

To determine a fair market price for an apartment, renters should check out the rental section on sites such as Zillow.com, comparing asking prices, number of bedrooms and bathrooms, square footage and amenities such as dishwashers, washer/dryers, balconies, free gyms and courtyard barbeques. Renters should ask around about the rental markets they’re interested in; are the markets easy to navigate, accessible or highly competitive? Research helps renters determine whether they can negotiate rent, and if so, by how much. 

If the landlord is asking a higher-than-expected price, renters can counter with their research when asking for lower prices. Often renters should quote a slightly lower rate than they’d actually pay, as landlords typically counter with a higher price; and the two parties generally meet at a price in the middle.

Demonstrate responsibility
Before renters try to negotiate rent with a landlord, they need to look good on paper. First, renters should make sure they have good credit by checking their credit scores on AnnualCreditReport.com, which gives consumers one free score each year. Look to correct any errors on credit reports before sending in rental applications. Credit scores range from 300 (very poor) to 850 (excellent); the rating is based on how frequently consumers pay bills on time (35 percent), amount of debt owed (30 percent), how long they’ve had credit (15 percent), new credit applications (10 percent) and types of credit (10 percent). Consumers should work to pay their bills on time and pay down debt to gradually improve their credit scores, as landlords find renters with higher credit scores more desirable.

Landlords also prefer renters with some savings in the bank, as this ensures their ability to pay rent even if they lose their jobs. Renters may also want to print out a list of former landlords’ contact information to provide referrals. Finally, when going to view an apartment, renters should appear groomed and professional in a business-casual outfit. All of this shows a landlord they’re responsible and prepared to take good care of the apartment.

Commit to a longer lease
If the landlord seems resistant to giving a qualified renter with good credit and references a lower rate, the renter can offer renting the apartment for longer than a year. Ask to sign an 18- or 24-month lease in exchange for lower monthly rent. Finding new tenants can be an expensive process for landlords, so many prefer to sign qualified tenants onto longer leases, even if that means a little less money each month. Be committed to the longer lease, as some leases include penalties for breaking the lease, such as paying back all concessions earned throughout the duration of tenancy.

If renting is the best financial decision or simply the most affordable option until consumers can afford purchasing a home, then they should take full advantage of the savings effective negotiating can earn them. To successfully negotiate lower monthly payments, renters should know the rental markets in their areas, improve their credit scores, collect solid references and keep savings in the bank. If those factors don’t lead landlords to offer lower rents, renters can offer to sign longer leases.

Jay Robert is a mortgage writer for Zillow and an associate with Kassoff, Robert & Lerner, LLP, focusing in the areas of elder law, real estate, special needs law and estates.
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Why We Spent $9 on a Pumpkin

Hi, friends! Long time, no chat. What's new with you? This past (extended) weekend, I was in St. Louis at FINCON13 to brush up on my financial blogging skills. Before heading back to Chicago, we took a quick trip to Eckert's to go pumpkin picking.  

Lately, I've seen a bunch of blog posts sharing ways to save money on fall activites. One tip was to skip the pumpkin patch and just buy a pumpkin at the grocery store. Ignoring the "expert" advice, we happily drove to the pumpkin patch and gladly parted with our $9. 

Isn't this the most beautiful pumpkin you've ever seen? I won't be offended if you don't think so because...

IT'S NOT ABOUT THE PUMPKIN!

Sure, we could save a few bucks by buying our pumpkin at the grocery store, but going to a pumpkin patch is about the experience and creating new memories. Memories for me as a new parent and new memories for Monica: driving to the farm in the country, riding the wagon, and choosing our pumpkin in the middle of a field.

And then changing Monica's diaper in the middle of said field and discussing life insurance on the wagon ride back.

Going to the pumpkin patch also included feasting on a giant turkey leg, corn dog, and kettle corn. We don't eat those things on a regular basis, so they're a treat. Plus, giant turkey legs remind me of our trip to the Illinois State Fair when we were still dating and corn dogs remind me of going to Cedar Point with my family.

And know what? Those memories are priceless.
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An Easy Duvet Cover Update

 

It's been a little while since I shared a DIY project, no? Let's remedy that with an easy update to a duvet cover or comforter. Truth be told, I first completed this project over four years ago. The ribbons were starting to fall off, so I decided to clean things up a little and share this project with you!

 

 

Materials

• Duvet cover or comforter (I bought this light-weight comforter at Target over four years ago)
• Ribbon, cut to the length and width (plus a few inches) of your duvet cover or comforter
• Ultrahold HeatnBond, slightly thinner than the width of your ribbon

 

Tools

• Iron and ironing board
• Scissors
• Measuring tape

Before starting, be sure to pre-wash, dry, and iron your duvet cover or comforter.

Next, one of the most important steps of this entire project is to measure the length and width your duvet cover or comforter. I'd do it twice just to be sure. This determines how much ribbon and HeatnBond you need.

One you have your measurements, add a few inches. One, because you'll be folding under the ends of the ribbon for a finished look. And two, because the duvet cover or comforter might stretch out a little while ironing on the ribbon.

 

Pre-heat your iron to medium heat (wool) setting without steam.

 

Fold the starting end of the ribbon under 1/2 inch. Place the HeatnBond adhesive-side down/paper side up on the back of your ribbon. Lightly press and hold the iron on the paper side of the adhesive for 2 seconds. Move down the ribbon and repeat until the entire length is bonded.

Go back to the starting end of the ribbon. There will be a loop where you folded under the end of the ribbon. Cut a small piece of the HeatnBond, remove the paper backing, and slide the tiny piece of adhesive into the loop. Lighly press and hold the iron on that section for 2 seconds.

 

Once the HeatnBond-ed ribbon is cool, peel off the paper backing.

 

 

Measure where you will iron the ribbon onto your duvet cover or comforter (i.e. 6 inches from the edge, 3 inches from a second ribbon, etc.). You can pin down the ribbon or recheck the measurements as you iron.

With the adhesive-side of the ribbon down on the comforter or duvet cover, press and hold the iron for 8 to 10 seconds on each section of the ribbon until the entire length of the ribbon is bonded to the duvet cover or comforter. Be sure to start with the looped end of the ribbon.

 

If you want to do a basket weave pattern, be sure to iron down the appropriate pieces of ribbon first, then overlap as necessary.

 

Once you get to the other end of the duvet cover or comforter, loop under the end of the ribbon 1/2 inch. You'll need to cut another small section of the Heatnbond. Peel off the paper backing and place the adhesive between the ribbon and duvet cover or comforter. Press and hold the iron for 8 to 10 seconds

 

Continue ironing your ribbons until your pattern is complete!

This is a great project to customize a plain duvet cover or comforter. You could also use this same technique to embellish simple curtains or basic pillow covers.

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The Best $5 We've Spent on Our Baby

Some people are quick to point out that babies cost a lot of money. Sure, daycare and schooling adds up, but so far, one of my favorite baby-related purchases was only $5. This purchase is also a time- and sanity-saver: the Baby Connect app!

While in the hospital with Monica, I was given a paper log to track her diapers, nursing, and pumping. It worked, but was a little inconvenient. During one of my last nights there, I asked one of the nurses for a baby tracking app recommendation. She told me about Baby Connect. Instead of researching more apps and winding up with analysis paralysis, I went with her recommendation and downloaded the app when we got home.

OMG, I loved it! With a few taps on my iPhone, I could easily log in diapers, nursing, pumping, and her growth. This has been extremely helpful when answering questions at the pediatrician: how many diaper changes per day, how often she was eating, and such. And let's be honest, sleep deprivation makes it hard enough to remember to shower, let alone remember which side to nurse on next.

The app also helps us figure out what Monica might need. When the afternoon fussies hit, it can be a bit of baby mind reading. Monica might be hungry, tired, need a diaper change, want some snuggles, or who knows what. Seeing when she fed or slept last can help us come to the solution much faster.

As we were getting ready for daycare, I began tracking her sleep as well. We follow Monica's cues on when she's hungry or tired, so the app has been helpful in telling daycare her patterns. At three (almost four) months, Monica's day looks a little something like this: wake up, diaper change, nurse, play, and once she's been awake for 1.5-2 hours, she's ready for another nap. Naps are usually an hour, but can range from 30 minutes to 2 hours. Lather, rinse, and repeat.

Now that I'm back to work, the app is extremely helpful in reminding me when I pumped last and when it's time to go again.

And let's be honest, as helpful as the app is, my nerdy self really enjoys watching the trends and analyzing the numbers and charts. Yes, it's a little depressing seeing the number if diapers we've changed, but I'm happy to see that the amount per day has decreased. I also really enjoy the pumping data. John likes to joke as I freeze milk and get bottles ready that it combines my two loves: being a mommy and inventory. This is from the kid that performed an inventory count of her Halloween candy ;)
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Makeunder My Finances: Step 4

Welcome to the final installment of the refreshed "Makeunder My Finances" series, as inspired by Jess Lively's makeunder steps. Missed the first three steps? You can find one, two, and three here.

Step 4: Reflect and evolve

This should be the "easiest" step of a financial makeunder. The real work goes into creating a vision, exfoliating stuff, and identifying intentions. Once your budget, savings plan, and automatic deposits are in place, it's a matter of evaluating your progress. Are you being too strict in some areas or too lax in others? Does your budget need a little tweaking? Can you sock away some extra money to meet your goal early?

How often should you be evaluating? Part of that depends on your timeframe and if you've made dramatic changes. I would also take a closer look at things in the beginning to set a good foundation. Remember, you're setting yourself up for success. Don't set unrealistic expectations. In general, a weekly update and monthly review should suffice.

It's also a good idea to check in on your vision and intentions. As you grow and mature, you might realize that your vision and intentions have also evolved. As Jess says, "The more regularly you reflect on the vision the less you will need to create major changes going forward." For example, when I married John, I felt a shift in priorities. Our finances also merged, so my decisions didn't just affect me anymore. And as you achieve one financial goal, you'll have the confidence to save for something else.

In a way, this refresh of the series is like one giant exercise in reflecting and evolving. Where we were three years ago is almost a world away from where we are now. Our financial situation and responsibilities have changed, so it only makes sense to reevaluate our goals and approach to savings and spending. 

Good luck with your own financial makeunders. Small changes here and there can really add up. Send me an email at fiscallychic@gmail.com if you have any questions.

Have a great week!
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Makeunder My Finances: Step 3

Hi there! I hope you enjoyed the long holiday weekend. We took some time to do a few projects around the house. Did any of you take a look at your finances as part of the "Makeunder My Finances" refresh? If you're just joining in now, Step 1 is all about creating a vision. Step 2 is taking a closer look at how you're spending your money. After walking through those steps, have you identified spending strengths and weaknesses? I hope so because this week is all about setting specific goals and intentions.

Step 3: Identify Intentions

In the first round of our financial makeunder, John and I were saving money for a down payment on a house. This time around, our larger vision is financial freedom. While we don't spend too much money on shopping or entertainment, we now have a new budget line for baby stuff. We value living simply and spending time with family and friends. 

With your intentions in mind, it's time to create some SMART goals for saving and spending:

■S = Specific

■M = Measurable

■A = Attainable

■R = Realistic

■T = Timely

Specific

How much do you need to save? And don't just say "I need to save more." What is "more?" If you don't have a specific amount in mind, how will you know when you get there? You probably have a good idea of the price tag based on your vision.

Measurable

Dollars are pretty easy to measure, but what happens when your "vision" dollars start to mingle with your "needs" or "wants" dollars? In order to properly measure your savings, it’s best to create a separate savings account. We like to use Capital One 360* (formerly ING Direct). It’s an online bank, so it has a higher interest rate (the good kind). We can automatically transfer money from checking to savings on my schedule and withdrawals take a couple days. That means we're less likely to pull from our savings on a whim. And with automatic transfers, we don’t even miss the money if it’s not available to be spent. You can find other savings accounts and interest rates at bankrate.com.

Attainable
Your monthly savings goal should be reasonable. Set yourself up for success. No need to drive yourself into the poor house trying to save for something enjoyable (i.e. European vacation). To stay motivated, set aside an amount that’s not too far out of reach. We’ve cut out a few extra frills by dining out less frequently and bringing our lunches to work.

Realistic
At the same time, your goal should be a little bit of a reach so that you’re willing to work towards it. That makes accomplishing the goal even more worthwhile. So set the bar high enough for a satisfying achievement!

Timely
Set a timeframe and mark the date on your calendar. Again, be specific, not just "in the next 5 years." And be realistic. Automatic transfers are another way to stay timely. Schedule transfers for once or twice a month so you won't forget to stash the cash.



Print available from Mulberry Press Co.

Being SMART

John and I used Mint's goal tool to track the progress of our down payment. It’s as easy as entering our goal, setting a date, and linking a savings account. We then knew how much we needed to save each month, which is factored into our budget. Mint will email your progress every month and offers savings advice and information about the home buying process.

Now that we're focusing more on financial freedom by paying down our mortgage, increasing savings, and investing; we look at overall trends on Mint, particularly our net worth.

You can obviously track everything in an Excel spreadsheet or on a piece of paper, but I like the convenience of having everything online. That way I can access the information on the go and make changes as necessary.

Don’t be afraid to take ownership of your finances! The best way to become financially independent is to learn about the different resources and tools. And ask questions!

*Affiliate link for Capital One 360.

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"It's Your Money: What will you do with it?" Review

I'd like to interrupt this week's refresh of Step 3 of Makeunder My Finances for another very helpful post. Since John and I are savers by nature, the only debt we have to our name is our mortgage. We pay off our credit cards every month, were extremely fortunate to have our parents pay for college (in addition to scholarships), and we paid for our new car in cash. It took a lot of hard work and discipline on ours and our parents' parts, so I don't take it for granted. This discipline is extremely freeing because we don't have to be as strict with our budget. We know how much money is coming in, have automatic transfers set for savings and retirement, and have some extra wiggle room once the monthly bills are paid.

However, I know not everyone is in this place. Since I've never been in debt, I don't feel like I have the authority to talk about it on Fiscally Chic. If you want to learn more about getting out of debt, I can recommend several blogs to you. I can also recommend the new book out by Eric Williams of Words of Williams.

It's Your Money: What will you do with it? is out today, but Eric sent me a copy a few weeks ago to read and review. It's a quick read and I probably could have knocked it out in one sitting if given the opportunity. The book is split into two parts. Part I is the backstory of how Eric and Kelsey accumulated almost $40K in debt and the lessons they learned along the way. If nothing else, this part of the book inspired me to never to get into debt. Conquering debt is more than just beating the numbers, there's also an emotional aspect. And reading Eric and Kelsey's story and desire to be out of debt before starting their family really hit home.

"We were making the sacrifice at that point in our lives (pre-kids) so we didn’t have to in the future. It was a hard lesson, but one certainly worth the effort. [I]t built character. It certainly wasn’t easy, but nothing worth the effort ever is. At one point Kelsey was really sad that I had to miss our twin nieces’ birthday party because I had to work during Memorial Day weekend. I remember telling Kelsey (in one of those grab-her-close kind of moments you see in movies) that I was missing out on the party now so I don’t have to miss out on our own kids’ birthdays in the future."

Eric dedicated this book to their daughter Rooney, who inspired them to get their financial act together and start creating a legacy for our family. Now that Monica is here, we want to do everything possible to make sure she's taken care of and that we can be at her soccer games, piano recitals, or whatever other activities she decides to pursue.

Part II of the book offers practical action steps to help you get a handle on your own finances and start developing a plan to help you achieve your goals. If you're working on getting out of debt (student loans, credit card overspending, or whatnot); this part of the book is definitely for you. Eric walks you through creating your first budget (or spending plan), paying off debt, and offers tips on keeping your budget going.

Eric and Kelsey were able to conquer their debt in 23 months. And this wasn't due to inheriting a small fortune or winning the lottery. They did it on average salaries with lots of hard work, sacrifices, and discipline when it came to managing their money. That's not to say they didn't have a little fun along the way. Eric encourages building some fun into your budget each month, be it going out to dinner, catching a movie, or purchasing a celebratory item once a large financial goal is reached.

It's Your Money can be purchased directly from Eric and Kelsey's blog, Words of Williams. There are some extra perks if you buy today (8/29/13), so you'll definitely want to check out their book release post. It's Your Money is available on Amazon as an eBook and in paperback.


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Makeunder My Finances: Step 2

This week is Step 2 of the refreshed "Makeunder My Finances" series, as inspired by Jess Lively's classic makeunder steps. If you missed Step 1 (Create a Vision) you can find it here.


Step 2: Exfoliate Stuff

According to Jess, "this is the step where you dump the stuff that isn’t needed for the life you want to live. Just like our skin, there is a lot of dead ‘skin cells’ in our homes that are clouding the healthiest, best life we want to live. And by sloughing off that unnecessary layer of crap, we emerge brighter and more purposeful." Guess what? There might be some dead skin cells lurking around your finances as well. But first, you need to take a look in the mirror see what and where they are.

This makeunder step may be the most daunting since it involves accumulating the information that makes up your past and current financial situation. Sure you could pull up old bank statements, save receipts, and write down all of your spending on a sheet of paper, but it doesn't have to be that difficult. There are several online tools for tracking your financial data; and mint.com is our financial weapon of choice. Mint is a fantastic free and secure (!) site that offers personal finance and budget software, online money management, and budget planning. Mint brings all your financial accounts together online so you can see the big picture in a single click. We have our checking and savings accounts, credit cards, mortgage, and 401(k) and investment accounts all feeding into our Mint account.


Mint screenshot

With your assistance, Mint categorizes your transactions so you can see how much you're spending on rent, food, entertainment, shopping, etc. It also monitors income, loans, and investment transactions. I also love seeing how our net income and net worth have changed over time.

Once you've compiled your financial data, it's time to take a look at how your saving and spending habits align with your overall vision. I recommend looking at the largest bucket first and then go down the list.

When we first started using Mint over three years ago, I had no idea how much I (John is really good about bringing his lunch to work) was spending on lunches or coffee during the work week. I thought that the couple dollars here and there wouldn't make a difference until I saw the grand total at the end of the month: $130 even though we bought lunch food at the grocery store.

At the time, this was a large sum of money considering we were saving for a downpayment on a house. But looking through the lens of "financial freedom," this spending was an investment in our future. On the surface, I was going out to lunch and grabbing coffee with my coworkers. In hindsight, I was building my professional network.

Mint screenshot

After identifying your financial priorities and financial reality, it may be time to make some changes. There are as many spending/savings plans as there are diets. For example:

• 50% Needs, 20% Savings, and 30% Wants (per Daily Worth)
• Save to spend budget: 60% Monthly Expenses, 10% Retirement, 10% Long-Term Needs, 10% Short-Term Savings, 10% Fun (see Daily Worth)
• 35% Housing, 25% Living Expenses, 15% Debt, 15% Transportation, 10% Savings (from Jean Chatzky)
• Dollars per day for play (see Pete Mockaitis)

How much you spend in each particular area is up to you. Is shopping your thing? As long as you're automatically saving for retirement, have an emergency fund, and can pay off your credit card bill each month/pay in cash; who am I to judge if you buy expensive purses?

Maybe you've realized that your income doesn't support the lifestyle you desire. You now have a choice: you can spend less, earn more, or a combination of the two. I recommend the hybrid method where you can get the most bang for your buck: negotiate a higher salary, start a business, refinance your mortgage, negotiate lower monthly bills, and don't sweat the small stuff (like driving out of your way to save $0.05/gallon). In the long run, you can only cut expenses to a certain point. Earning more is more sustainable.

Next week is step 3: identify intentions. This will be your specific targets regarding savings and spending.

 

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Makeunder My Finances: Step 1

Shortly after starting Fiscally Chic, I wrote a 4-part series about makingunder our finances. This approach to saving and budgeting was inspired by Jess Lively and her steps for makingunder your life. A makeunder includes getting rid of the excess junk and clutter in your life to make room for nicer, more intentional purchases. Even if you aren't buying new things, your ratio of "nice" to "not nice" things will improve as you donate, recycle, or throw out the "not nice" stuff.

In a financial makeunder, cutting back on wasteful spending creates more opportunities to save and spend on the good stuff: retirement, giving more to your favorite charity, etc. In a sense, you can also makeunder the ways you earn money by negotiating a higher salary or increasing your rates or product prices.

When I first wrote about makingunder our finances, we were saving up to buy a house. Now that we've been living in said house for 2+ years, changed jobs, and have a baby; our financial situation has changed. So I thought it'd be helpful to revisit the financial makeunder steps. Additionally, I want to share the steps for those who may not have read the posts back then. Enjoy!

Step 1: Create a vision

Before overhauling your finances, think about your overall vision. Your vision could be for your personal financial situation: saving or earning more money to buy a home, for retirement, to go on vacation, or for your child's college fund. You might also want to payoff student loans, your mortgage, or credit card debt. Or maybe you're looking to buy a new car. If you have a vision of starting a business, you're probably creating a savings cushion before quitting your full time job.  

Creating a vision will set the focus for the next three steps; so get as specific as you'd like. John and I have an overall vision of financial freedom. This includes several supporting goals of paying down our mortage and saving for retirement. Soon we'll be starting a college fund for Monica. When we were saving for the down payment for our house, our vision included the neighborhood, cost, number of bedrooms and bathrooms, and when we'd like to start the home buying process.

When creating and solidifying your vision, it's helpful to put together an inspiration board. Pinterest is a great place to collect images of your dream home or exotic travel destinations. If you want to go old school, write down your vision and post it on the bathroom mirror or refrigerator door. And if your vision has a deadline, write smaller goals and reminders on your calendar.

I hope you find this series helpful. As Jess puts it, a financial makeunder "takes the stress out of it in a way and doesn't make everything good or bad, but intentional or not intentional." The goal of this series is to help you examine why you spend money and your priorities instead of just "do this" and "don't do that." I want to help you put together a plan that works for your unique situation instead of just following a formula.

Next week, step 2: exfoliate stuff.
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Inspired by the Duchess of Cambridge

via What Kate Wore

With this week's arrival of the royal baby, I was inspired to recreate one of my favorite Kate Middleton looks: her going away ensemble from the day after their wedding.



Earrings, Blazer, Belt, Wedges, Dress

 

One thing I love about the Duchess is that she's just as comfortable (and gorgeous) wearing clothes accessible to "the people" as she is wearing designer labels. It's all about finding the brands and styles that look good on your body, not about the names or numbers on the labels.

 

Have a fantastic weekend!

 

see more Friday's Fancies at {long distance loving}

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Negotiating Cable and Internet Savings: My Experience

Last year, I shared some tips on how to negotiate lower prices for cable and Internet. At the time, we had just upgraded to cable, which meant we got the new customer rate and didn't need to negotiate anything. Fast forward a year and our promotional period was up. So it was time to call up Cable and Internet Company X to see if these negotiation tips really worked.

Right off the bat, I ignored my own advice of going through the voice prompts for cancelling service. When you go through that voice prompt, you typically get connected to an operator that is a retention specialist. They will often be able to offer more promotional prices in an effort to retain you as a customer. The big companies know that in most cases, making a better deal for you is more cost effective than trying to find a new customer to make up for losing you as a customer.

Instead, I called customer service since I had some additional questions and wanted to upgrade to HD (though I didn't tell them that initially). As expected, I spoke with a normal customer service rep, not a retention specialist. At first, I didn't have it in me to say we would cancel service for a lower price. I said that the current pricing wasn't in our budget because we had a baby on the way and needed to put those extra dollars towards diapers. The rep offered some lackluster promotions for current customers, so I asked if I could get new customer pricing since I was a loyal customer of several years.

She wouldn't budge, so I pulled out the new customer promotional prices at Competitor Y. I was firm on wanting to stick to our budget, so I told her it would be much easier to save money by switching to Competitor Y. At this point, she transferred me to another rep; what I'm assuming was a retention specialist.

Magically, the second rep was able to offer much better pricing. It wasn't quite as low as the new customer pricing, but we were able to upgrade our Internet speed and add HD for $40 less than what we were currently paying. Yes, I was lax in watching the monthly bills and had let the previous promotional pricing end. That's what happens when you're pregnant and tired.

Fortunately, we're locked into our new, lower price for the next twelve months. And you better believe I have a reminder on the calendar to call back when the year is almost up. Because if I don't, our monthly bill will spike by $50. And nobody wants to waste their money on the same service that the next guy is getting for $50 less.
 

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Summer Entertaining with Brittany of Marie Callender's Meals

I know it's only Monday, but it's never too early to think about the upcoming weekend. If you're thinking about throwing a backyard BBQ or outdoor dinner party, there's plenty of time to send out a few invites and make some plans. Brittany of Marie Callender's Meals has some budget-friendly entertaining tips to get you started.

Beer popsicle from Bakers Royale, Rooftop party from Jess Lively, Bruschetta from Fiscally Chic,
Nautical crab boil party from Design*Sponge, Clubhouse turkey burger from Iowa Girl Eats

After a long and arduous winter, summer has finally arrived. That means flip-flops, sundresses and all the BBQ your heart desires. From cook outs and picnics to outdoor dinner parties and mixers, the summer is one of the best times to entertain; and it starts to add up quickly. Food and party supplies can get pretty expensive, but with some creativity (and little common sense) you can save quite a bit on summer entertaining.

Always Get a Head Count

If you don’t want to be stuck if an extra five pounds of potato salad and twenty cheeseburgers too many then be sure to get an estimate before you grocery shop. You can also minimize unnecessary spending by taking into account what different people will eat. Find out how many vegetarians will attend, how many people will bring their children, who doesn’t eat red meat, etc. Such thorough meal planning may seem like a lot of work, but it will help insure that you have something for everyone without going over budget.

Use Seasonal Produce

This is a good rule of thumb for cooking year round. You can save quite a bit of money by purchasing seasonal produce at the grocery store or local farmers’ market. Try grilling recipes with summer squashes, artichoke hearts, eggplant, red onions, sweet potatoes or peppers. Most of these veggies can also be roasted in the oven. Loading up on fruits and vegetables will not only save you money, but it’s a healthier alternative to some of the more traditional (and caloric) BBQ side dishes.

Make Your Own Marinades

You can save quite a bit in the long run by buying the spices and oils to make your own dressing and marinades, rather purchasing ones that are premade. It also gives you the opportunity to experiment with more flavors. There are a handful of ingredients you should have on hand all summer to do so, including: sea salt, black pepper, crushed red pepper, garlic powder, soy sauce, sesame oil, cumin, brown sugar, Italian seasoning, lemon juice, olive oil, and balsamic vinegar. Chances are you already have half of these items in your pantry, so it will just be a matter of experimenting with different recipes or concocting your own!

Be Smart about Stock Piling

So many frugal living gurus push the practice of stock piling, but if you’re buying products that will sit in the pantry until they expire, than it’s a waste of money. If you do a fair amount of entertaining then stocking up on popular products can save you a lot in the long run. Keeping extra burger patties or dessert pies in the freezer will save money buy buying in bulk and help you avoid emergency grocery runs. But be weary of stocking up on things, simply because it’s on sale. If you don’t think you’ll use it, don’t even think about buying it.

DIY Décor

Decorations can add a lot to the ambiance of your party. Be it an assortment of flowers or interesting lighting, you can really transform your home and make it even more memorable. But rather than spending a ton of money at a party supply store, spend a small amount at a craft or hardware store. There are numerous ways to upcycle household items to create interesting decorations. For example, spray paint wine and beer bottles to create small vases or make your own paper lanterns for fun outdoor lightening.

Brittany writes about frugal living and family meal ideas on behalf of Marie Callender's Meals. For more about easy meals, like chicken pot pie and comfort bakes, visit www.mariecallendersmeals.com.

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The 20 Something's Guide to a Chanel Life on a Target Budget

I've been to Target far too many times in the past few weeks to admit, so when I had the opportunity to share this guest post by Amy Garrett, I jumped on it. Enjoy!

How's a girl to survive thousands of miles from home, on an entry-level salary, and with so much debt that Sallie Mae has taken up residence on the sofa? Prioritizing spending and pinching pennies, that's how. By stretching your money as far as it will go, you'll be able to get past this stage of life— and the still-recovering economy— and into one that gives you greater earning power. It's time to make your money start working for you. But what if your tastes don't allow for crystal chandeliers and a stretch Bentley? No problem, there are plenty of ways to live well on a limited budget.

Dressing Like a Star
After you've browsed through the @Targetdoesitagain Instagram feed or Tumblr for some inspiration and stocked up on staple items (cardigans, pullovers, little black dresses-- the wardrobe must-haves that you don't need designer flare to sport), it's time to hit the thrift. One of the best places to pick up designer duds is to visit your local second-hand store or consignment shoppe. Now, don't knock it till you try it. You'll be a believer once you discover a pair of never-been-worn-tags-on Levi's for $2 or a like-new Coach bag for $5. Of course, you won't score such great deals on every shopping trip, but you'll soon know which stores have better inventories (hint: head to the more affluent parts of town) and which days offer the biggest discounts. If you find something incredible, like a Gucci coat, that doesn't fit right, simply take it to a tailor-- you'll still save enough to pay your rent  . . . and vintage Gucci? Yes, please. When you do decide to buy new clothes, the Jewelry Gal Blog says to remember to go for quality rather than quantity. It's far more economical to have one skirt that will last you for five years than to have to buy a new one each year.

Dating on a Dime
While many articles with the word "budget" in the title will tell you that you must stop socializing and do things on par with joining a convent, this one won't. Going out and meeting people is important and there are plenty of ways to eat and be entertained on the cheap. Here are some ideas to get you started:

• Take advantage of lunch, happy hours, or early-bird specials when you want to dine at top-notch establishments.
• Make friends with your kitchen and go the DIY route. There are no shortage of tutorials and websites like Epicurious that show you how to whip up gourmet meals at happy meal prices.
• Afford a night out on the town by taking advantage of free museum nights, discounted theater tickets and ladies' night specials at the clubs.

Spruce Up Your Wheels
Now that you're dressed to impress and armed with an arsenal of delicious, romantic rendezvous ideas, it's time make the ultimate budget buy. Every princess needs a suitable carriage. If your hand-me-down Chevy is on its last leg, then it's time to get shopping for a deal on your new ride. The sooner you get started the better, as the search could take some time. But you'll find it's well worth it when you find a diamond in the rough. There are hundreds of luxury vehicles at beater prices out there. It's just a matter of finding them.

Too many people overlook the car section of eBay. It might sound shady to buy a car on the Internet, but there are enough companies (like Carfax) that have your back if something goes wrong. eBay is also quite vigilant about following up on disputes.  Craigslist is another great place to take advantage of used car sales, although you want to have a trusted mechanic on hand to give the car a thorough inspection prior to finalizing the deal. For those who want a deal but aren't comfortable with buying from private parties DriveTime used cars offers a more traditional route, sans dealership hassles.

When it's time to get a new car, take the task on as if it's your second job. Learn to negotiate so you can drive down the price. For eco-conscious gals, why not consider ditching your car altogether? Kill two birds by eliminating your gym membership and purchasing a bike (used, of course) and get your daily dose of cardio as you pedal to work. For those times when you must have a car, borrow a ZipCar for a few hours or a whole day. What better way to impress potential clients than by driving a BMW you only paid a few bucks for to meetings?

With plenty of determination, some creativity and these tips, you can totally live the high life sans the requisite income and bills that usually accompany it.

About Amy Garrett

Amy is a car show fanatic who shares her tips on how to preserve the authenticity and glow of antique automobiles.

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Tips for Buying a New Car

As you may remember, one of the potential items on our baby to-do list was to buy a new car. My car, a 2003 VW Passat, was getting up there in miles and the cost-benefit of future repairs didn't seem worth it. At the time, we were considering buying a used car.

After we John did extensive research, we decided on the Honda CR-V due to its safety ratings, trunk space, low maintenance costs, decent gas mileage, and the fact that it looks good. To the horror of some personal finance "experts," we came to the conclusion that buying new would be better for us. Hondas hold their value extremely well, so we'd have to buy a CR-V with a lot of miles on it to see any savings. And at that point, why not pay a little more and put the miles on ourselves?

After a bit more research, we put together our strategy:

• Negotiate the car price.
• Negotiate the trade-in.
• Discuss financing.

It's important to negotiate and come to an agreement on each item separately because the dealer is always looking for ways to make a profit. And since we were buying as a couple, we were sure to be in agreement on everything before even starting the buying process.

How do you know what car price to negotiate?
While John did the research on which car to buy, I researched pricing and (of course) put together a spreadsheet. While the dealer may quote you the MSRP (manaufacturer's suggested retail price, i.e. list price), you never want to pay MSRP. Instead, you should know the car's factory invoice price and shoot for a price close to that. You can find out the invoice price by looking at Edmund's or TrueCar. Edmund's and TrueCar will also give the current market price, which is a good starting point for your negotiations.

TrueCar also has the option of locking in a guaranteed price at one of their certified dealers. While we didn't buy from a certified TrueCar dealer, we still printed out a Guaranteed Savings Certificate for our exact make and model and asked our dealer to match the price. We called the dealer and told them exactly what we wanted to buy, down to the exterior and interior color, and told them what price we wanted. They accepted!

Deciding on add-ons
At this point, the dealer might try to sell you all sorts of upgrades and add-ons. The only things we knew we wanted were leather and heated seats. At a previous trip to the dealership, we learned we could have leather and heated seats added to the CR-V's base level model (the LX) for much less than buying the primo level (the EX-L) with unnecessary bells and whistles. Fortunately, we had the price estimate for leather and heated seats in writing because when it came time to buy, our salesman tried to tell us that price was for the leather only.

Other options they tried extremely hard to sell us on were the extended warranty and The Protector, both with a healthy mark-up. The Protector offers rustproofing, fabric protection, and paint protection with a 10 year warranty...all at half of the usual price! (Please note the sarcasm.) There's no need to buy these additional services if you take good care of the interior and exterior of your car. And as John so politely pointed out to the salesman, "Are you suggesting that the paint job and rust-proofing on our new CR-V is subpar and that we need these additional services?" Not to mention our dealership will give us free car washes over the life of our CR-V. If you really want some additional paint or fabric protection, you can do it yourself or go elsewhere for a better price.

They also showed us a list of additional "stuff" we could buy, like a roof rack. We declined these items when signing the paperwork, but realized we wanted to get one thing when we picked up the CR-V. When we asked about buying the accessory, the salesman said he would call us with the price and availability. Guess, what? We never got the call. Shows where he's making his money...

What is your trade-in worth?
Next up is your trade-in. The trade-in price for your used car is one of the many places dealers will try to recoup concessions made for the new car price, especially if you declined their add-on's. We negotiated a darn good price on the CR-V, so the dealer tried to make up some ground with the Passat. Fortunately, we had done our homework and checked the car's value at Kelley's Blue Book, Edmund's, and NADA. I hadn't heard of NADA until I read about it on Words of Williams. While there was a bit of a range in estimates, we knew to walk away from the first (and ridiculously low) quote offered by the dealer.

Since you're not obligated to sell your used car to the dealership where you're buying the new car, we got additional trade-in estimates from Carmax and the local VW dealership. We then took the best trade-in price to the Honda dealership and asked them to match that. Yes, selling the car on our own could have yielded a higher price, but we didn't want to deal with the hassle and possibility of still having an extra car on our hands when the baby came. Plus, selling the car to the Honda dealership helped reduce the price of the CR-V further and lowered our sales taxes.

Negotiating financing
If you plan on buying your car with cash, this step is fairly straight forward. Decline financing, sign some papers, and write a check! Though the dealer may still try to talk you into a car loan to get a little bonus in their pockets.

Remember how I said to agree on the car price before financing? If you tell the salesman/financing department how much you can afford each month, they'll increase the term of the car loan (and possibly interest rate) to lower your monthly payment, but also increase their profits. You're better off knowing what you can afford and sticking to that.

If you do finance a new car, a good rule of thumb is to put down at least 20%, finance the car for no more than 4 years, and spend no more than 10% of your gross income on transportation costs. Another way so see how much you can afford it to get preapproved car financing from a local bank or credit union. Yes, you may ultimately go with a super-lower promotional interest rate at the dealer but it's good to have options and a little leverage in negotiations.

The car-buying process seems like it can be intimidating, but if you stick to your strategy, it isn't that bad. Just be prepared to walk away if the dealer is unwilling to negotiate or is taking advantage of you for their profits.
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Price Matching is the Best

Hey there! How was your weekend? We had baby shower #2 and are feeling completely showered with love. Our baby girl is one lucky lady :)

Now that the two big showers are under our belt, we have a better idea about what we need to buy and have on hand to bring our baby home from the hospital. One thing I wanted to get sooner rather than later was our stroller: an orange BOB Revolution SE, to be specific.
 

We're registered at Buy Buy Baby, where the price of the stroller is the most expensive ($450). Fortunately Buy Buy Baby price matches, so I checked things out online. Amazon had a great price of $319, so I brought the Amazon listing showing a price of $319 with us. Buy Buy Baby matched the price right at the register.

What's better is that they accepted a 20% off coupon on top of the price match...ch-ching! So the $450 stroller now only cost $255 before tax, plus we didn't have to wait for the stroller to be shipped.

In addition to baby gear, we bought a new oven this past week. Our old oven started beeping and showing an error message in the middle of the night. We eventually had to unplug the oven to stop the beeping. It was a nice little reality check because we won't be able to "unplug" a crying baby in the middle of the night.

Back to the topic at hand...a repair man checked out the oven and told us the replacement part would be about $250 before labor. Totally not worth it for our 1990's oven. John researched new ovens and found a middle-of-the-road (and reasonably priced) stainless steel GE oven at H.H. Gregg. At the time, the list price was $800, but on sale for $740. We knew that H.H. Gregg price matched, so we did one last Google search before heading to the store. Turns out, the same oven was on sale (but only available online) for $719 at Home Depot. Regardless of where we purchased the oven, we wanted to check it out in person before buying it.

Buying from H.H. Gregg ended up being the best of both worlds because we got the lower Home Depot price and the free (after rebate) H.H. Gregg delivery, haul away, and installation. All we had to do was print off the Home Depot price for a little price matcheroo.

The moral of today's story is to check if a store will match competitor prices. We ended up saving $212 (before taxes and the 20% off coupon to Buy Buy Baby) just by spending a few extra minutes going a quick search of prices. That's much more efficient and effective than driving out of your way to save 5 or 10 cents on a gallon of gas!

Do you have a price matching victory story to share?
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Tips to Save Money when Buying a Car

Hi, friends! How was your weekend? I had a few vacation days to use up from 2012, so it was a four-day weekend for me. I didn't do anything crazy, mostly errands and catching up on sleep. The highlight of the weekend was building our crib! Which puts us one mini-step closer to being ready!

Another potential item on our to-do list is buying a new (to us) car. My car is getting up there in miles and we're starting to get to our breaking point with repair costs. We haven't had any major work done recently (knock on wood), but would rather not continue to throw money at the car. If anyone else is in the market for a new car, I have a great guest post from Melanie Lewis on ways to save money when buying a car:

When it comes to making major purchases, buying a new or used car ranks right up at the top of the list. In fact, it can seem like too daunting of a task to some people because of the high cost. Luckily, there are several ways to reduce the cost of buying a car.

Buying a vehicle should be a thrilling experience, but it can be difficult to be excited about it considering how much money will be expended. Saving money can take some of the sting out and make it fun again.

Pay cash
The best way to save money will take some advanced planning and time. By saving enough money to buy a vehicle with cash, consumers can save a great deal of money by not paying the interest that comes along with financing through a car loan. In addition, some dealerships may offer special incentives for those that are willing to pay cash. It can also strengthen a customer’s bargaining position since it will show they are serious about the purchase.

Research
Before heading out to any dealerships, take the time to complete a little research. Know what type of vehicle will best suit your needs. If gas mileage is important, look at which ones have the best rates. Those with a good safety record might also be important to note. Making a list of the most desirable vehicles will make it less likely to be swayed by a salesman’s pitch at the dealer.

Shop around
Once the list has been made, it’s time to start shopping around. Go to more than one dealer and compare prices as well as options. This can also include shopping online at websites that collect various offers. Dealers are highly competitive, so don’t be afraid to point out what deals another seller might be offering.

Buy used
While most people dream of buying a new car, purchasing a used vehicle can mean getting a quality car at the fraction of the cost of a new one. A dealership will often still offer a warranty on used vehicles it sells, which takes away some of the risk. Even less expensive would be to search the classified ads of the local newspaper. It should be noted, however, that before buying any car from a private seller that the car should be inspected by an independent mechanic first to make sure it’s not a lemon.

Insurance
When people think about saving money on a car purchase, many think only about the purchase price, but long-term costs associate with the vehicle should also be considered. This includes insurance and fuel costs. Sportier cars will have higher insurance premiums. Look for cars with high gas mileage, which will save on fuel costs.

Saving money can put the joy back into the process of buying a car. There are several ways to accomplish this, and most just require a little patience and planning on the part of the consumer.

Thanks, Melanie! We'll definitely keep these tips in mind as we continue our search for a new car. So far, we've looked at reviews on websites like Kelley Blue Book and Edmunds.com. We also visited a dealer to gather more information and see a few car models in person. We're still deciding whether to get a car or something bigger. Either way, we're mostly likely going to buy something used and pay cash (i.e. the Bohemian credit plan).

This is a guest post from Melanie Lewis. Melanie writes for a site that has information on used car auto loans and offers advice on things to consider before borrowing money to purchase a vehicle.
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