Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.
Good morning Dinks and Happy Friday. We have some great readings to start your weekend, so let’s get right into it. Enjoy these posts from our friends around the web.
Actually before we get started I have one quick question and one very important piece of information to share.
Does anyone know if the groundhog saw his shadow?
Tickets for FinCon14 in New Orleans are now on sale. You can get yours here.
Good morning Dinks. No, this is not a guest post from a college graduate. I must confess that I am a 33 year old professional who lives with her boyfriend to be frankly honest we still live like we are 19. Yes that’s right, we both work full time but we live on a student budget. This week I was talking with one of my new colleagues and she was surprised when I told her that I live downtown in a student area. She immediately asked me “Why don’t you move to the suburbs?”
The old me would have been offended that my co-worker thinks just because I’m 33 and in a long term relationship I should get married, buy a house in the suburbs and start having kids. But since I am working on my social skills (and my sometimes explosive temper) I just politely smiled and said “I like living downtown”.
We can learn a lot from students and their budgets
The truth is although I may complain about the city I live in because as you know my dream is to be a New Yorker, I honestly do like my life. I just started a new job as a Community Manager for an international investment and insurance company. Thanks to new my somewhat newfound financial responsibility I can travel a few times throughout the year. So all in all life is good.
My lifestyle is not extravagant or glamorous, but it’s perfect for me and my boyfriend Nick. I know that a lot of people think students are broke and don’t live very fulfilling lives. But I don’t think that’s true at all. We struggle financially as college students to graduate, get a degree and land a full time job so that we can start making the big bucks. But in my (humble yet overbearing) opinion, I think we call all learn a lot from a student budget.
Tips to live like a student and save money:
Keep renting an apartment. I don’t exactly live on a student budget when it comes to my housing, but it’s close enough because I do rent an apartment in a student neighbourhood. I love the carefree lifestyle that comes with renting an apartment. I don’t live with three roommates, just my boyfriend. Renting an apartment means that when I go on vacation my apartment is safe, I have a live in superintendent who can come and fix my plumbing at any time and I only have one bill to pay every month, my rent.
Don’t waste money on expensive home furnishings. I don’t spend a lot of money on decor. Students can change apartments every year and they are known for being a bit bland in the decorating department. This is absolutely OK with me. My boyfriend and I have lived in our apartment for 6 years and although we do have furniture, art on our falls and plants in all rooms our walls are still white. We don’t spend the time or the money on decorating our apartment because we never have guests over and I just don’t see the point.
Keep it convenient and be safe. There is a gym, pharmacy, grocery store and several restaurants within walking distance of our apartment. That’s convenience worth paying for. My neighbourhood is always safe; I can come home at any time of the night by public transportation or by foot and not worry about being in danger.
Good morning Dinks. We all have one thing in common…money. Some of us personal finance bloggers blog full time and some of us work full time in a 9 to 5 and use blogging as our side hustle. Regardless of how often we blog at the end of the day we all do it for the money. Am I right?
Work for your money or take the easy way out?
I work hard for my money because as a child I saw my parents work hard for their money. My mom spent well over 40 hours a week at the office and my dad had a stable job as well as a few hustles on the side. I come from a family that says if you want something you have to work for it.
If I wanted to travel I would get a second job to earn and save extra cash. If I wanted new furniture for my apartment I would save up until I could afford to buy it. Working for our money is what I was taught to do, but let me ask you a question – if given the opportunity would you take the easy way out and steal money that wasn’t yours?
Could you pull off a bank robbery?
I worked in a bank for over a decade and I was present during five different bank robberies. Actually I should say attempted bank robberies. All five of the bank robbers were caught. I can honestly say that I wish I was smart enough to commit a bank robbery, but I just don’t see how it’s possible. There are timers on vaults and multiple employees in the main safe at any given time.
I always wondered what would make someone want to plan a bank robbery. As a financial planner and former bank employee there is something so appealing to me about a Wall Street employee gone rogue and turning to bank robbery. I guess it could happen to anybody if you are pushed to your limits.
My obsession with bank robbery movies and financial crime novels has taught me a few things.
The perfect bank robbery needs…
A really good entrance and exit plan.A good bank robbery is quick and happens under a couple of minutes. Get out as soon as possible. People have to hop on a subway, get on a bus or get into a car and blend into the crowd…after you change your clothes of course.
A quick getaway where you can blend in to the crowd. Three of the five bank robberies I was involved in were committed at a bank branch on a busy shopping corner in a residential neighbourhood. If someone wants to rob a bank it has to be very easy to get away. Bank robbers should look like anyone else on the corner, they shouldn’t speed away because that attracts attention and they shouldn’t cause a ruckus on the street because that makes people look in your direction.
A really big payoff. The most recent bank robbery I witnessed was the most pathetic get rich quick schemes I have ever heard of. The woman (yes it was a girl) got away with only $2,000. In my opinion a couple thousand dollars is definitely not worth several years in jail.
Good morning Dinks. I am sure you already know this about me but I am going to say it again, I love watching movies. Crime fiction movies are my ultimate favorite, I love a good CIA or FBI movie. I know it’s weird, but give me a good plan executed into the perfect crime and I’m hooked. If the plot is about money crimes it makes the story even better.
I should also mention that I tend to purchase my movies online nowadays because it gives me a much greater selection and allows me to save some money in the process. By browsing the online selection of DVDs, I can search by genre and find the exact films that I want to buy without any trouble whatsoever. It definitely beats trying to track down the crime dramas that I love at the store, since many of them are more obscure titles that can be difficult to find. If you are struggling to find a particular title, I highly recommend having a look online.
I spent my weekend watching movies about financial crime, specifically movies about stealing money. I watched The Town, which stars Ben Affleck and Jeremy Renner who are two men that I just can’t get enough of. Then I watched The Taking of Pelham 1 2 3, the remake with John Travolta and Denzel Washington. I love crime fiction stories so this was the perfect way to spend the weekend while my boyfriend Nick was watching football.
The one question I always ask myself when watching movies about money crime is – what’s the point in stealing money if you can’t ever spend it? That’s how the criminals always get caught. They get greedy and they start spending the money, which leaves a paper trail and they end up in jail.
Here are my top 4 favorite movies about money crimes:
Ocean’s Eleven. Other than being a movie filled with some of the hottest leading men in Hollywood, this is a great movie about robbing casinos. What starts out as a plot for personal revenge ends up in a big pay day for this crew of 11 guys.
The Town. It is said that Charlestown near Boston Massachusetts is the home to the most bank robberies anywhere in the United States. This movie follows four friends who rob banks because it’s all they know how to do. Their father’s did it and their grandfathers did it before them. Robbing banks is a family trade passed down from generation to generation in The Town.
The Taking of Phelam 123. I have admittedly never seen the original movie, but the remake is amazing. A classic story about a Wall Street employee gone bad. He learns how the stock market works then commits a crime to manipulate Wall Street and create a huge financial gain on his personal investments.
Mad Money. You gotta love a movie that involves three female criminals. Katie Holmes, Queen Latifa and Diane Keaton are the masterminds behind a plan that has them robbing the Federal Reserve Bank for three years.
Here are 3 movies about money crimes from our friends at Wise Bread:
The Firm. This may be one of Tom Cruise’s best roles ever. He plays a young lawyer whose new job at a big law firm comes with a big pay check. But as lawyers keep dying at the firm he discovers his new dream job comes with mob ties.
The Sting. This movie is about two con men who want to get revenge on a major crime boss in Chicago after he did them wrong. This movie won seven Academy Awards after its release in 1973.
Wall Street. Gordon Gekko is a stock broker whose personal motto is “Greed is good”. He loves money, but he loves the power it brings even more. Gekko starts mentoring a young broker who becomes addicted to money and starts insider trading as a way to feed his money habit.
Happy Friday Dinks. Thank goodness for the weekend, actually this weekend in particular because on Monday I START MY NEW JOB. Once again I parlayed my blogging experience into an awesome job. As of Monday morning I will be the Community Manager for an international investment and insurance firm.
My employer has not yet entered into the digital space known as the internet, so I will be a part of the marketing team. My mandate is to establish and grow our online presence and the best part is that I will be starting from ground zero. To tell you that I am excited is a bit of an understatement. Keep checking your mailboxes because I’ll be reaching out to bloggers in the upcoming weeks as my new firm breaks into the online world of personal finance.
OK that’s enough about me and my over excitement on a Friday morning. Enjoy these posts from our friends around the world wide web.
Good morning Dinks. Remember a few weeks ago when we discussed your idea of a perfect money world? There are a couple of reasons why I personally don’t think we will ever live in a world without cash and in a world that is run by virtual money.
For starters not every store accepts debit or credit cards right now so I am pretty sure they won’t be adapting new systems such as Bitcoin any time soon, at least not in my lifetime. Some places run their business on a strictly cash only basis. The second reason why I don’t think we will ever live in a world without cash is because there are several advantages when paying for purchases with cash.
4 places that are strictly a cash only business:
Your corner store. Think about the last time you ran to the corner store to pick up something small. Does the corner store near your house accept debit or credit cards? They probably accept cash only unless you spend a minimum dollar amount.
Mom and Pop restaurants. There is nothing like an authentic homemade cooked meal that you don’t actually have to cook yourself. I have a favorite Mexican restaurant where I usually grab lunch on Saturday afternoons while I’m out running my weekly errands. I always have to hit up the ABM before I grab my veggie burrito to go because this restaurant is strictly a cash only business.
Street vendors. Whether you are buying a wallet or a hot dog, street vendors in cities all over the country accept cash only. I don’t know about you, but I love grabbing food on the go and I love buying unique items from street vendors that aren’t sold in every GAP around America.
The car wash. The car wash near my house is attached to a gas station and you can only pay with a debit or credit card if you are also buying gas. If you want to only get a car wash then you have to pay in cash only.
Coffee shop. No one wants to be waiting in line longer than they have to for their morning coffee. With the exception of the new MasterCard and Visa PAYPASS touch and go system, cash is the fastest form of payment.
Why you should always want to pay cash:
You can negotiate the price. I love getting a good deal. I don’t know about you but there is a sense of pride that comes over me when I negotiate the price of my purchase. When you pay with a debit or credit card there are paper trails and taxes involved. When you pay with cash you can negotiate the price and the vendor can choose not to declare the purchase. It’s a win-win situation.
You will save on taxes. The most recent item I bought and didn’t have to pay taxes was new luggage. I walked into a store in upper midtown NYC and offered to pay cash for my new rolling luggage. The sales man told me “no problem”. Instead of paying $59.99 plus taxes for my luggage I paid $50 cash and walked away. Totally a great purchase.
You can’t spend more than you want to. When you live on a cash only budget you can’t over spend. You can’t make impulse purchases and you can’t pay more for an item than you want to. This is a major advantage to always carrying cash and leaving your credit cards or debit cards at home.
Good morning Dinks. Let me ask you a question…have you ever exaggerated your skills to get a job? My younger sister once said that she was bilingual in order to get a job with an international finance company. It turned out that it wasn’t a big deal because her work ended up being only in English anyways and speaking more than one language is always an asset.
Sometimes we want a job so bad we enhance our resume with extra skills and experience that we may not necessarily have, but skills we are willing to learn. The truth is that maybe we actually do have the skills we need to get a new job and we don’t know it. It is very possible that we already have the experience we need to apply for a promotion and we just don’t know how to display those skills on our resume. Using a resume maker can surely help you out with creating a perfect resume.
Have you ever lied on your resume to get the job?
If you are trying to enhance your resume you may not have to look further than your own experience. Think about all the little things you do on a daily basis, not just your main duties but the other tasks. Let me give you an example, as a corporate communications employee I write articles on a daily basis. However, my secondary duties are also important. I have to manage our department budget to decide how we are going to allocate our resources between training, system improvements and employee salaries. That’s a great skill to have.
I have co-workers who add skills to their resumes they may have experienced, but not yet mastered. I have friends who list skills they don’t exactly have, but are required for the job. That’s not exactly lying, is it?
According to Workopolis the truth is that most employers expect you to lie on a job interview. They know potential employees want the job and that some skills or experience may be enhanced. After all it is said that our resume just gets us the interview, it’s our personality that gets us the job.
5 Things Employers Know You Are Lying About On Your Resume
Education – A common exaggeration on resumes is people who claim to have graduated from a program even if they only took a few courses or just started.
Employment dates – Nowadays people change jobs very often and that doesn’t always look good to potential employers. Candidates often change the dates of their previous employment to make commitment periods look longer or eliminate periods of unemployment in between jobs.
Second language proficiency – Job hunters often claim to be fluent in a language when in fact they actually don’t have that much of a grasp on the second or third language.
Job titles – Sometimes internal job titles don’t stand out to outside employers. Many people enhance their job titles to match the job they are applying for.
Technical skills – This is a very common exaggeration on resumes and the least likely to be caught in the early stages of the job interview process. However if you claim to have skills you don’t actually have you will most likely have a tough time adjusting to your new role.
Good morning Dinks. Today we have an awesome giveaway for you. If you want to change your financial habits this year or improve your financial ways then this book is a must read for you.
Preet Banerjee is a TV host turned author who started his career as a blogger, how great is that?! If you love TV you may know Preet from the popular show Million Dollar Neighbourhood on the Oprah Winfrey Network or you may have seen him on the W Network because he is their residential money expert. If you love reading personal finance blogs you may know Preet from his site Where Does All My Money Go. Regardless of how you heard of him, if you have met him you know that Preet is an awesome guy.
Stop Over Thinking Your Money
I had the pleasure of meeting Preet last year in Toronto at The Canadian Personal Finance Conference and let me tell you ladies, he is just as handsome in person as he is on the cover of his new book “Stop Over-Thinking Your Money! The Five Simple Rules of Financial Success”.
It’s that simple. All it takes is five easy steps to get your finances in order and keep them that way. If you have been wanting to make positive changes in your money life, or if you know someone who wants to change their life, this is the perfect book for you and for them.
The Five Simple Rules of Financial Success
Now you know how great (and handsome) Preet Banerjee is, it’s time to actually learn how to manage your money. I am only going to give you two of the five tips – If you want to learn the whole story you’ll have to buy the book.
Rule #1 – Read the Fine Print. Sometimes we are being taken advantage of and we don’t even know it. We can protect ourselves from fees, penalties and other possible expenses by reading the fine print before signing anything.
Rule #2 – Delay consumption. You may really want something, but if you think about it for a few days you may discover that you don’t really need it.
The Expert Opinions
Don’t take my word for it. Who am I? I am just a Certified Financial Planner and personal finance blogger. If you want to know what people (other than me) really think you can read the love and praise for Preet Banerjeee’s new book for yourself.
He got some great reviews – one may even say raves – from money experts such as Gail Vaz-Oxlade and Ellen Roseman (remember we gave her book away a few weeks ago).
“We all know that despite our best-laid plans, crap happens! Preet wants you to know how to protect yourself so that when it does, you have options.” – Gail Vaz-Oxlade
“Managing money isn’t hard. But you can be confused, or paralyzed, by all the conflicting information. Preet Banerjee helps you sort through the spin and find the truth about keeping your finances on track.” – Ellen Roseman
Win Your Own Copy
Enter through the Rafflecopter link below to win your own copy of “Stop Over-Thinking Your Money! The Five Simple Rules of Financial Success” by Preet Banerjee.
Happy Friday Dinks. I am off to NYC this weekend for a little getaway. I have never actually travelled in the winter, except by plane. I have also never been to NYC in the winter; I usually travel in spring or fall. But I am getting a little bit of cabin fever and I am celebrating my new job (that starts February 3) so I am off to NYC.
What would you do on vacation in the winter? A lot of my time spent in NYC is outdoors, walking around enjoying the city and I’m not really sure what to do in the city in the winter. I know what you’re thinking and you don’t have to say it – why am I going on vacation if I have no plans. Well I love everything about New York City from the smell to the people, so basically I just want to be there.
This is my humble plea – please send me some ideas about good places to eat and fun things to do indoors in NYC.
Enjoy these posts from our personal finance friends.
Yesterday I had a conversation with my Mom about my personal financial situation and for the first time in many years it actually went well. I didn’t have to be ashamed of my personal financial situation and I could talk honestly about what was happening in my life, money wise.
After the market crash I was tens of thousands of dollars in debt and I hid it from my family. They knew I was having financial troubles, but they didn’t really know how bad it was because I couldn’t tell them, I was ashamed.
I told my mom I wanted to buy some new clothes for my new job starting on February 3, but I have to wait until my next pay check because I already spent money this week on personal splurges. I used to buy whatever I wanted, whenever I wanted and I usually I bought things on credit – which landed me tens of thousands of dollars in debt. Now I allow myself to make one personal purchase each pay check to stay out of debt, avoid overspending and not deprive myself.
“But you must be OK now financially, right?” asked my mom. “Because all your debt is paid off, now you have money, right?” Of course I reassured my mom that everything related to finances is going well in my life. “Yes mom, I have money. That doesn’t mean that I should spend it though.”
Make sure you always have money with these 3 tips:
Be afraid to spend money. Act like spending money is the scariest thing in the world. That’s how I live my life now. When I first became debt free I was scared to spend money because I didn’t want to get back into a life full of sadness and debt payments. When I was emotionally sound enough to actually start spending again I was so consumed with guilt that I stopped spending money. Being afraid of spending money is much better than living with guilt.
Think about your past. I wasn’t always bad with money. Before I ended up in debt I was financially OK but then I started spending money I didn’t have and I ended up in debt that took me four years to pay off. Learning from our mistakes is one thing, but wanting to change is a complete other thing. I knew that my spending was a bad idea, but I wasn’t ready to change…until I hit rock bottom and woke up one day and couldn’t afford to pay my rent.
Choose how you want to spend your money. Be selective and narrow down your Want List to a couple of Must Have items. I used to spend my money on stuff that doesn’t matter like clothes, candles, and other girly stuff. I would never wait for sales; I would just buy whatever I wanted regardless of the price. That was a huge mistake and now I rarely buy anything from food to hotel rooms unless it’s on sale. I have learned to live with less stuff. Now I save my money and spend it a few times a year on trips. I wait until I have the money saved instead of buying it on credit and hoping to pay it off later.
About Kristina Tahnyak
Good morning Dinks. Today we have an awesome giveaway for you. If you want to change your financial habits this year or improve your financial ways then this book is a must read for you.
