Advice…everyone has it—especially about money. Here is a list of advice from millennial women that can be applied to most everyone and gives you great strategies for setting financial goals!
Stephanie, 29, Finance
“Begin to save now if you ever plan to retire. We will not have pensions like our parents, and most likely, nor Social Security. It’s never too early.”
Anna, 30, Teacher
“Make sure you save 5-10% each month in case you lose your job or if your car breaks down. Remember the 5-10% savings is on top of retirement savings. Keep things simple and live within your means. Things will be a lot less stressful!”
Kim, 30, Travel Industry
“My splurge is traveling—everything else is just stuff. I cherish the gifts family and friends give me but I would never buy those items for myself. It’s more fun to have meaning behind your possessions.”
Stephanie, 30, Insurance
“Use credit cards smartly to build your credit. Also, learn the power of negotiating.”
Jenna, 29, Finance
“Take a look at your monthly spending and break it down into different categories of expenses. It’s very easy to do if you pull from your online banking into an excel spreadsheet and then sort by the type of expense. It will really help you to see where you are spending the most money or where you can possibly cut back. You’ll be shocked at how much goes to a little ole’ place called Starbucks for instance!”
Kayla, 25, Higher Ed
“Shortly after getting engaged, my (now) husband and I opened a joint savings account and began automatic deductions from our paycheck. We started small, but $25 from each of us per paycheck adds up! Over time we’ve increased the amount we contribute. It’s very comforting to know that if and when we need the money, we’ve got it. We’ve used it in planned situations like paying for airfare, but also unexpected things like replacing tires.”
Jackie, 29, Aviation
“Avoid making impulsive decisions when shopping. If you see something you like, sleep on it for a few days and if you still want it (and can afford it!) go ahead and buy. And avoid paying full retail price, it’s easier than you think!”
Megan, 29, Healthcare
“It’s important to build credit and understand what factors play into your credit score, a lot of people make big mistakes when they are young.”
Jolene, 27, Marketing
“Know where your money goes. If it’s going down the toilet, at least you know. It’s the first, and most important step in having control over your financial life.”
Kim, 29, Public Relations
“When I was interning and doing bottle service at night, I used to take my cash and divide it up into different envelopes. If I had $300 cash, I would put $100 towards food, $72 for a subway pass, and divide the rest of my money towards: taxis, shopping, and an emergency fund. This was helpful for me so I knew if I only had $10 in my cab envelope, I had to either walk or take the subway, forcing me not to take a cab. No exceptions.”
What money advice do you have for the millennial generation?
(And a big thank you to all the gals who participated!)
I’m by no means the epitome of a career woman but I’ve put in my dues. I’ve worked a few jobs and a couple of (unpaid) internships so I can eventually do what I want to do. And I got a master’s at night, while working full time along the way to help at least insure I get a few interviews.
I’ve driven 50 miles each way five days a week for a part-time job at a crappy television station just so I didn’t have a gaping hole in my resume when shit hit the fan with the economy. I’ve packed up and headed to New York City one summer during college for my dream (unpaid) internship with the New York Mets (definitely not complaining with this one). I volunteered at my college’s radio station (shout out WEGL 91.1FM, Auburn’s new music leader!) to pad my resume while in college. I also volunteered with my college’s yearbook to gain desk top publishing, photography, and software experience. I’ve also had another internship with the Women’s Sports Foundation to gain PR experience while making next to nothing and then took a job also making next to nothing in 2008 because it was a job and in ‘08, those were hard to find.
The point of this entry isn’t to toot my own horn, it’s to start a discussion of why there are so many of us millennials that just think a fabulous job is going to fall into our laps. As if an executive is going to come to our door and offer us the career of our dreams. It’s not going to happen. Ever.
I’m not saying that the majority of us feel this way—I have many friends who have worked their asses off and paved their way to a fantastic career. But the main verb in that sentence is worked.
It irks me every time I see someone wasting their potential just wishing and hoping instead of doing. You would be shocked how many professionals are more than willing to help a young, eager millennial get on their feet. I’ve had the pleasure of talking to several professionals via phone calls and email strings, getting invaluable advice and making contacts.
If you want to be a chef, go shadow one for free. If you want to be a photographer, volunteer to be their apprentice on the weekend to learn the business. If you want to work in television, show up to the station and let you know that you’re work for free on your free time—trust me—they’ll be happy to take you. And don’t tell me you have no free time because you know your ass is at the bar every Saturday.
Doing is better than wishing—because there truly is no substitute for hard work.
What’s your take on millennials wasting their potential? Are there other factors like the unemployment rate that contribute to complacency? Tell us your thoughts.
I’ve always considered getting a manicure and pedicure a luxury—something I only do for special occasions. Dropping $40-$50 on nails just isn’t my thing. So recently I was fixated on proving to myself that I could give myself a good mani-pedi at home to save a few extra dollars.
My results are mixed: my feet came out fabulously and they’re still looking good three weeks later. My hands—that’s another story. I know that I’m extremely impatient, so waiting for my fingernails to dry is torture for me. There’s only so much you can do besides sitting like a statue for at least 40 minutes without using your hands—especially when you put on 2-3 layers of polish. Basically, I had to re-do my fingernails 3 times (due to smudging) and then re-do a few nails they next day—making it a highly annoying and redundant process.
The verdict: if you’re patient and have a lot of self control when it comes to the drying process, then at at home mani-pedi is for you! You’ll save tons of cash and won’t get death stares from your nail lady when you accidentally smudge and have to fix it. But, if you’re like me and have a hard time sitting still and are smudge-prone, you may want to reconsider. In my case, I’ll definitely do my own toe nails but for my next event, I may have to visit the salon for a manicure—and probably the gel kind! Haha.
Here’s how I gave myself an at-home spa mani-pedi:
- Trim your nails with a clipper to desired length. File to prevent an uneven surface.
- Get a large sized bowl and soak your feet in soapy water for a few minutes to soften your cuticles.
- Drizzle olive oil on your cuticles to moisturize. Dip your feet back in the bowl.
- Use a pumice stone to exfoliate the dead skin from the bottom of your feet.
- Use a cuticle remover to remove dead cuticles. I used Sally Hansen Gel Cuticle Remover. You can find it at drug stores.
- Rinse off cuticle remover and dry your feet. Apply lotion if desired.
- Paint your nails and give them 2-3 coats. Finish with a top coat to prevent chipping. I used Sally Hansen No Chip top coat.
- Wait for nails to dry!
- Repeat process with your hands.
Do you have any money-saving tips for getting your nails done?
It’s wedding season again, which means some of you are jetting off or packing up the car for bachelorette or bachelor parties. Over the past decade or so, it seems that these events have taken on a life of their own in addition to the wedding itself. This also means your wallet is getting hit pretty hard.
I just came back from a bachelorette party in Vegas last weekend myself. It was super fun but Vegas will not be on this list due to their $8 beers and $30 entrees. I’ve partied enough to know that there are many, many other fun places to have your bash that are Frugal & Fearless approved. Check out what made our list:
New Orleans
New Orleans is seriously my favorite city in the United States. I can’t get enough of the place! It’s rich in culture and art, has incredible food, endless bars, and it’s easy on the wallet! Hotel rooms are cheap and you can buy a beer for a normal price—and there’s even a casino!. There’s something for everyone in New Orleans, it’s the perfect place to celebrate with your closest friends.
Ft. Lauderdale
As a girl who grew up in South Florida, let me tell you a little secret: Ft. Lauderdale is really fun. In fact, I think it’s more fun than Miami. If you live for clubs and the desire to be “seen” and revel in your Facebook status checking you in at the Delano, then Miami is for you. But if you want a fun weekend with your friends with a myriad of choices for bars, clubs, and restaurants that are within budget and also really good, then Ft. Lauderdale is your destination. Ft. Lauderdale is more relaxed than Miami but still modern and young. The beaches are awesome with plenty of bars and restaurants across the street. Be sure to hang out at River Front and Los Olas Blvd. where nightlife is at it’s prime. And if you still want to do South Beach for a night, take I-95 south about 25-30 minutes and you’re there. It’s the best of both worlds.
Austin
Austin, Texas is a great spot to host your b-party not only for the great weather but for its unique and artsy scene that has drawn festivals such as SXSW. Aside from it’s fun and robust nightlife—Austin has much to offer such as: golfing, shopping, outdoor activities, and much more! And the best part? Austin is one of the most affordable places to live in the United States, which means prices are reasonable, so no need to worry!
Montreal
If you like excellent food, history, and feeling like you’re in Europe but you’re actually in Canada, then Montreal is the place to be. Montreal is one of the more expensive places on this list but due to the easy accessibility and driving distance from a variety of states, its made our list. You truly feel like you’re in France when you visit Montreal so definitely brush up on your French before you arrive—especially if you’re driving. The street signs are also in French. There are a few colleges in Montreal so the atmosphere is young and fresh and Montreal also has excellent beer. Also, for strip club enthusiasts, word on the street that Montreal has some of the best around. And don’t forget your passport!
Seattle
When I think of Seattle, I think of Nirvana and Pearl Jam and the amazing grunge scene from the 90s. Ya know, when music was actually good. Anyway…Seattle has so much more to offer than their live music scene. If you tuned in to last season’s Top Chef, you may have noticed the food-particularly seafood-that many foodies flock to Seattle for. Nightlife is plentiful and diverse so there is something to do for every budget. Seattle’s landscape is nothing short of beautiful so there are outdoor activities to choose from as well.
No matter where you go, just make sure you stick to your budget and most of all, have fun!
Where are some of your favorite inexpensive bachelorette or bachelor party spots?
In honor of the start of baseball season, we’ve come up with a few tips and tricks of how not to spend tons of money at the ballpark. Utilize these strategies and you’ll be sure not to strike out:
- Buy bleacher seats when available. Bleacher seats are usually significantly cheaper than traditional seats and almost always have an awesome view from the outfield. And from my experience, the crowd in the bleachers is more fun anyway. I’d rather have more fun than more back support.
- Skip the souvenirs. I know it’s tempting…no one loves a nice vintage throwback tee than me. But not for $40, that’s ridic. Go online to buy your fan gear. There’s a larger selection and more reasonable pricing compared to stadium shopping. And for us ladies, there is no question there are more options available online. Touch by Alyssa Milano has done a phenomenal job with female fan gear.
- Take advantage of games that offer activities before or after the game. Last year at Citi Field, we got to see the Mets and then a free REO Speedwagon show. Many stadiums also do “fireworks nights” and have “Fan Fests” for the kids—for free.
- Unless you are lucky enough to score a corporate suite, keep yourself to a drink limit. Prices of beers and cocktails vary from park to park, so make a mental note of what you want to spend on booze and stick to it. Beers in NYC parks cost about 8-10 a pop, you can easily drain your weekly entertainment budget on just drinks if you’re not careful. Will power people!
- Use mass transit! Not only will you not be sitting in traffic but you’ll be saving on obnoxious parking fees. If mass transit isn’t an option, carpool. There is no need to spend money on extra vehicles when you could have squeezed into one. Driving from different directions? Meet up at a local, safe parking lot mutually convenient and leave your cars there until after the game.
- Skip the fancy schmancy “club.” I know it’s pretty awesome to sit at the “Diamond Club” or “Delta Club” and dine on 4-star cuisine but you’re at a baseball game. Stick to the hot dogs made of plain beef—not “farm raised, grass fed Kobe beef” or whatever they’re serving these days…
What are some of your game day savings secrets?
Ah, spring is upon us—maybe, depending on where you live. It is most certainly not upon us here in the Northeast. Regardless, I can’t help but fantasize about the sleeveless, non-wool, flip flop-filled, balmy days in my near future. It’s time to put away those pea coats and take out those shorts. Here’s a list of inexpensive, must have items that will never go out of style and will transition perfectly into summer and beyond!
- The classic plain white t-shirt. This piece goes with everything. Seriously. You can even wear this to the office underneath your suit jacket. And there are so many variations—I prefer v-neck but you have: crew neck, scoop neck, and deep v to choose from. Possibilities are endless. Check out these t’s from Old Navy for $8.50.
- Khakis. Khakis look particularly cute in spring with fun, colorful tops and a nice wedge. Plus, the weight of the pant is perfect for those chilly mornings and warmer afternoons. Khakis are also the perfect jean alternative and do just enough to make your outfit a little more sophisticated. Gap has a ton of khakis in a variety of colors. Use promo code GAPGIFT and get 15% off!
- The neutral wedge. The wedge goes great with shorts, dresses, and skirts and can go from day to night. I prefer a neutral color so it’s more versatile and perfect for a weekend away. I just bought some Aerosoles myself! Check out what DSW has to offer.
- The ballet flat. It seems like ballet flats are the perfect summer version of the boot. Goes perfectly with just about everything and is more tasteful than a sneaker. The possibilities are endless! Ballet flats from Zappos.
- Shorts. This seems obvious but even if you don’t like wearing shorts you still need a pair for those steamy afternoons. J.Crew make my personal favorite. Use promo code SPRINGTOIT and receive 30% off.
- The classic trench coat. The trench coat is a perfect weight for spring and can also transition into fall. Plus, it’s a timeless classic that you can wear for years on end. I don’t mind springing for this item because of its longevity. Here are some choices from Macy’s.
What are some of your inexpensive spring must have items?
Recently, I booked a hotel in Las Vegas not realizing that my special promo code had already expired. This promo code included a 20% room discount and a bunch of drink and food specials within the hotel. Yes, it was definitely my fault for waiting too long to book but I didn’t freak out because I knew somewhere down the pipeline I would get another email with a special offer—which I could apply to my already existing reservation.
How did I know this information? Because I simply asked. And guess what? I got everything I asked for, no problem, whatsoever.
You wouldn’t believe how many people lose out on money because they are too afraid or too lazy to simply pick up the phone or send an email asking to receive a discount or deal they missed out on—or just simply desire!
And when I say “ask,” I don’t mean demand (unless you’re talking to the cable company, haha). You one hundred percent catch more bees with honey. No one is going to delightfully help you out if you’re an asshole.
This frugal strategy is not exclusive to travel deals or promo codes. If you have a question regarding a purchase you’ve made and want to see if you can get a better deal—all you need to do is ask! Here is a sampling of situations where I got a better deal because all I did was ask:
- Group dining discount
- Event space discount
- No cover at various bars
- Hotel rate discount
- Drink specials
- Better tables at restaurants
- Salary negotiations
- Parking fee discount
- Cable bill discount (and free Showtime!)
- Free hotel room upgrade
And these are just off the top of my head!
Don’t underestimate the power of asking! It will most definitely save you money!
Tell us what you’ve saved on just by asking!
Marissa Mayer’s recent decision has sparked much debate of the ever-evolving workplace—or lack there of one. This got me thinking of the ways working from home actually saves money. I should know, I currently work from home and I must say—I’m a huge fan. Not only for the financial savings but for a myriad of other reasons that I won’t get into now.
I’ve worked in a few offices—some were a total blast and others not so much. But in terms of finances, there is no contest that working from home is a huge savings all-around on my wallet:
- There is no commute (aside from business trips) which saves thousands per year in gas
- I am less likely to spend money going out to lunch
- There is no need to buy “work clothes”
- Multitasking is taken to a new level. I can make calls, do my work, and throw a load of laundry in no problem—time is money
- I have no co-workers to buy birthday presents, birthday lunches, and endless holiday gifts or food for
- No one is stealing my office supplies
Not every workplace has the luxury of being able to work from home but for those who are able, it’s an excellent option for productive, motivated, and responsible employees. In today’s environment of Skype, Twitter, Drop Box, email, and smart phones, forcing people to be chained to their desks is not only unnecessary it’s stifling.
Do you work from home? Tell us what you think!
I’ve known about Etsy for quite some time now. I’ve heard there are awesome deals from small business owners and craftsmen alike but I’ve never really checked it out until this week. And let me tell you, there’s so much to check out, especially if you’re planning wedding! Forget retail, Etsy is where it’s at if you’re looking for unique gifts or specialty items that are one of a kind and super creative!
The best part is you get to support small business owners and artists who you may have never come across if it weren’t for this delightful site.
Etsy has everything from jewelry to clothes to handbags to wedding veils to men’s items—much cheaper than going to a boutique. Let me just say, I wish I logged onto Etsy before I started decorating my apartment!
Here’s a sampling of what Etsy has to offer:
Statement Necklaces
Decorative Pillows
Candle & Candle Holders
Candy & Confections
I know that Etsy is going to be my new favorite marketplace and maybe it will be yours too!
Have you scored awesome products from Etsy? Tell us or post a pic!
-Jackie
Check out this real-life story of how even the richest people can make crucial money mistakes that haunt them for years.
Via-LearnVest
