“Multitasking in the Power Bitch World”

To be or Not to be a Power B? That is the question...
To be or Not to be a Power B? That is the question…

I know! Excuse my language! But I finally caught up on last weeks Hills (guilty pleasure) and LC and Whitney’s Boss, Kelly of Peoples Revolution, said this when she asked a male model out to drinks for Whit. It just stood out as the perfect expression for a fashionista on the go.

I’m told that I do too much. I respond with, “well, what else should I be doing”. At times, I neglect my friends and family because I’m always running around, putting assignments and, I have to admit, Miss New Money (the site) before making that phone call home. It’s not that I like to be busy, it’s just that I get bored easily.

However, I do recognize that my life is not completely balanced. If I were to use a pie chart to describe where and what I spend the majority of my time on it would look like this:

With friends and family accounting for a measly 10%. An out of balance life, in my opinion, is a life unfulfilled. The problem is that I am convinced that a fulfilled life is one where you do everything you ever wanted to do. Remember yesterdays conversation about your relationship with money? Well, how important are your relationships with other things in your life? Like other peopple (your family, friends and spouses)? Or your work, both the place that employs you daily and the side work you do for yourself?

Its a random post today but still food for thought. So, think about it!

One Woman’s Junk is Another Woman’s Junk?

Hopefully all is well and you  had a fabulous weekend, despite the remnants of Tropical Storm Hannah rolling through the East Coast. While Saturday was the indoor Sex & the City, Chicago, Dreamgirls, Across the Universe, Chick-Flick Marathon, Sunday was an absolutely lovely day. And what a perfect day for a Hamilton Street Yard Sale!

My lovely new “NYC in Philly Flat” (that’s the cool name for ‘apartment’)is located on Hamilton Street and in such a welcoming neighborhood that holds yearly block long sales. Now when I say block, I really mean ten. All of Hamilton St was closed off with budding entrepreneurs )and junk salesman).

"Yea. I'm rich b***h"

The tactics ranged from minimal eye contact to actually physically touching me. One lady shouted the whole day “Make me an offer I can’t refuse”. Among others, there was the “the salesman is always right” salesman. And the snooty, “no one can afford my prices” salesman. I like to call those the “Pretty Woman” types, based off the film.

Just walking the block, seeing the value that people place on their items and the value that I placed on those same items, it got me to thinking about the relationships that people have with their possessions and their money. What kind of relationship would you like to have with your money? What role would you like it to play?

Would you like it to play the role of the indicator: “flashy, flashy, I obviously have money” Or, the role of the provider: “regardless of what I wear, or where I eat, I can afford all expenses, even the unexpected ones”. That role is based off the reclaimed book “The Millionaire Next Door” , where the authors Thomas J Stanley and William Danko discuss living on one third of your income.

I personally want my money to play the role of the employee and the opportunist. Meaning, I want my money to work for me and not the other way around and provide me the flexibility and ability to make more money through various investment opportunities. Remember Mailbox Money?

I think everyone has a very different relationship with their money currently. Look at the US Government as an example. Now I’m not one to get too deep into political issues, but I read. The US deficit (pay me my money!) is swiftly approaching $10 Trillion! What kind of relationship do you think that is? “Big baller, shot caller”. And unfortunately look at what has trickled down to the American people. We are a nation of wannabe big ballers. Pretty soon the US is going to be dodging the phone in fear of bill collectors.

Think about it.

Your Move

Yesterday, I moved. No one likes to move. it definitely brings out the ugly in people.

What's your next move?

What's Your Next Move?

Friends become enemies. Steps? Your worst nightmare. An hour into the process you’re already ready to give up and throw half your stuff away. Sorting, packing and trashing your life can stir up some memories you had completely forgotten. Like, I forgot I was a hoarder. Or I forgot I stashed old pics of ex’s in that box my boyfriend just dropped open on the floor. What’s the point here? The point is no one likes to moving.

But after the move, in the calm after the storm, my boyfriend asks me: “So what’s your next move?” At the time, I brushed it off and simply responded “I don’t know”. But after some time, I realized the importance of that question. As Bruce Lee will tell you and I believe Stephen Covey (author: Seven Habits of Highly Effective People) is that life and life accomplishments should continue…well, continuously. Continual Improvement will lead to an effective and accomplished individual.

What do I mean by continuous improvement? Well, it’s always topping yourself. We all know the expression “Been there, done that, bought the t-shirt”. Well first off, you should never buy the t-shirt. It’s tacky and cheap and feels how it looks. But you should challenge yourself. I now need to top myself. This past summer was quite an accomplishment but now I need to do more.

A great way to track your achievements (big and small) is to keep a portfolio. Mine is simply an old binder with clear inserts. In it I have pictures and newsletters that I wrote and any awards that I have gotten. Looking at it helps to keep me motivated. Continuous imporvement is not only for those who have been possessed by the entrepreneurial wind, but for everyone: young, old, employee or employer. Think about it.

Will Drool for Shoes

Recently, one of my favorite finance bloggers Trent Hamm of The Simple Dollar posted an interesting thoughts surrounding rewarding yourself for being good. That’s actually the title: How to Avoid the Trap of Splurging as a Reward for “Being Good”. Now Trent is a smart guy and a great resource for, as his tag line states, “financial talk for the rest of us” but we don’t always agree. And that’s fine. He speaks to ultimate frugality and I, to fashion.

While any excess is usually too extreme, treating oneself with gifts is simply Pavlovian Theory. Ya know, where the dogs salivate because after associating the ringing of a bell with meal time. After a while you salivate or perform better because you are conditioned to. I do well and treat myself to a movie or new suit. Where is the harm Trent?

A reward lets you know that you did something extraordinary. What love is greater than self love? This method can be dangerous though and it does take personal discipline.  Rewarding yourself for every accomplishment is simply over indulgence and you are setting yourself back in your financial plan by rationalizing frivolous spending. “I did not hit the snooze button this morning. I jumped right out of bed! Therefore, I deserve new shoes…New Shoes; New Shoes!!!” While this way of thinking will result in a fabulous closet it will also result in a broke [beep]*.  You know the rest. “I successfully taught financial literacy to eleven high school students culminating in a successful, high powered awards ceremony”. Now I deserve new shoes!

If you do plan on rewarding yourself with gifts, make sure you can legitimately afford to do so. Trent lists recommendations of ways to plan for or break this ‘habit’ and his last one was actually what I do now.

Keep an entertainment portion of your budget. If you still want to splurge but want to control it, keep a portion of your budget for entertainment and make all splurge purchases come out of that portion.

Don’t ever let someone make you feel guilty for treating yourself (an undeserving boyfriend, definitely). But remember too much of a good thing is….well, glitter! Enjoy the end of summer. Fall’s ‘a comin’

 

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