Confessions on Tax Day

Yes, the deadline for filing tax returns is finally here. It was my original plan to complete the process before April, but due to my out-of-state move, an increase in my work load, and other complications, I did not get to finish it until last week. To be completely honest, I dread tax season, and I am glad it is coming to an end today. I always get more anxious than I probably need to be, especially right before I find out how much I have to pay (or not pay) in taxes. Last year I had to pay a sizeable amount to the federal government; this year was much better.

This year also marks a change on how I handle taxes; I decided to pre-pay taxes quarterly this year, due to my status as a contractor and being responsible to deduct the amount myself. It should make next year’s tax return filing a more stress-free experience, or at least I hope so. For me, splitting the tax amount in four installments is better than paying it all in one lump sum later on. I have already marked my calendar for the remaining three deadlines this year, so I will be ready to mail my voucher and check to the U.S. Treasury each quarter.

So while I breathe a sigh of relief as the tax season comes to end, I wonder about millions of my fellow Americans on this day of financial reckoning. Have any of you waited until the last minute, or did you file your returns soon after receiving your W2s or 1099s? Do you have big plans for your tax refund checks?

See you next year, Tax Day. I will be better prepared to face you the next time around!

Reality Check

This is an edited version of a post that originally appeared on my personal blog:


This post is not a reality check for me, instead it's for all the people who have an incredibly warped idea of my life in Paris. I'm starting to get really sick of people commenting on me living the "nice" life or "luxurious" life in Paris, and even the people who say, "must be nice to up and move to Paris."

For starters, my life is in no way "luxurious" and even "nice" is a bit of a stretch. It's comfortable, sure, just as it is in NYC. At least, as comfortable as it can be for a person who spent the first half worried about a place to stay and will spend the second half worried about money. Yes, I indulged in some things I've always wanted to do, like a bread-making class, but I often eat nothing but a demi baguette and pre-packaged pasta from Monoprix all day because it only costs me 3 euros. I'm not dining at fancy restaurants. I avoid museums and attractions I have to pay for. I skip more meals than I'm comfortable admitting to my best friends. Trust me, life is not luxurious.

Now, as to the question of how I got to Paris in the first place. I freelanced a lot last year, which allowed me to save a good chunk of money. Almost half of that money was supposed to go to paying taxes, which I will now have to file an extension for and pay interest on because that money is long gone. I had no choice but to do that because I'm jobless and not eligible for unemployment.

Don't get me wrong, this isn't a pity parade. I've chosen this. It was my decision to quit my job, a job that was turning me into somebody I didn't recognize. I decided I would rather be broke in Paris and know that I gave it a try than be miserable in NYC, wondering "what if?" And of course there's the fact that I'm single and childless, so I don't have to consider anybody else when I make decisions like this.

I'm just tired of the looks and comments and general misunderstanding of what my life is like here. Every time somebody says something like, "can I have your life?" I want to answer "of course you can! Save up some money, quit your job, book a ticket." It's as easy as that. I didn't have a place lined up before getting here. My only "friend" was a person I had met exactly three times. I had no plan whatsoever and spent the first two months incapable of thinking past the end of the next week (a habit which will continue, I'm sure). I've made it this far by luck and not caring.

And since I'm being completely open at this point, I'll admit that I have no idea what's next, so there's also that. I've blown through my savings and am totally winging it. I have just enough money to pay rent and credit card bills through the end of my trip and that is it. I now have to think of creative ways to eat and live for the next two months. I also have to figure out how to pay rent and credit card bills once I'm back in New York because I don't have money for that either. Hell, I don't even have money to get back to New York but I'm lucky enough to have a friend who can lend me some until I figure it out. (Now, that's a luxury.)

That's your reality check for the day, folks. Basically save some money and have faith that it'll all work out beyond that. There's your key to living my life. If you choose to follow in my footsteps, let me know and HAVE FUN!

Renovations And Revelations

Since last month, I have been working with a contractor who is finishing renovations on an apartment in New York City that my family owns. It was something I did not expect to take the lead on, but I have enjoyed the process overall. There was some stress when it came to deadlines on choosing a bathroom vanity and light fixtures for the bathroom and kitchen by certain dates, but I have enjoyed imagining what the completed apartment will look like when everything is done. Before the renovations began, the apartment had a leaky faucet, dark walls that made the space feel smaller than it is, and an uncomfortably small kitchen. Now the plumbing has been completely re-done, the walls are a sunny yellow color, and the kitchen is part of an open floor plan that flows into the living room. It is a great space now, and I am glad to have contributed to making it that way.

While I am planning to live there, it will not be forever; every choice I made is in mind to increase the value of the apartment if it has to be sold in the near future, which is likely. I followed a budget, which was the hardest thing to do when prices of certain items were higher than I wanted them to be. Thankfully, the contractor I worked with guided me in the right direction by providing various options and price points on things like kitchen countertops, appliances, and refurbishing the bathtub instead of replacing it. I am grateful that he did his job so well AND educated me about what to pay attention to during the renovations.

The refrigerator has yet to be delivered, and there a few final details that need to be completed, but I can safely say the bulk of the work is done. I look forward to enjoying the apartment while I still have it, and will look forward to renovations’ projects that come my way in the future.

Do renovations’ projects put you off, or do you welcome the challenges they bring?

Investing In The Future

I have always known that saving for the future is important, but I have only recently started to understand what it takes to do it right. As we slowly move out of the Great Recession, I am aware more than ever than making sound and stable investments are the best way to go. Does anyone really stash cash under their mattresses anymore? More power to those who do, but I would rather not worry about the potential for burglary, fire, or worse. Sure, the world of stocks and trading can be compared to the “Wild West,” but with self-education and the right guides, I have discovered people who have survived and even flourished during the worst of economic times.

I am no gambler. Sure, I would not mind striking it rich someday, but with dizzying highs come incredible lows, so if I ever do, I will want to maintain financial security more than anything else. A hot company now will not necessarily be so in a few years. I am more interested in companies that have proven longevity, and I would also like to believe in their practices and overall business model. I have lost some respect in Apple these days, as I suspect have many others, due to its poor and even scandalous working conditions in China. It may sound unrealistic, but I do not care: I would love to see a number of American companies with significant numbers of American workers with ethical business practices make positive impacts in the global economy, and have many more Americans invest in them. It could happen, and hopefully sooner rather than later.

All I know is that I refuse to shy away from money and remaining financially ignorant any more. I will never be an expert, but I will also not be accused of criticizing a system I know little about. Knowledge is power, and I just want more of it. I look forward to improving my financial education, so I will be more prepared for an uncertain future.

Made Anywhere But Here

It's happened before, but it hit me again when I went to a nearby grocery store and browsed through the greeting card aisle. This is nothing new to most people, but I was put off by the fact that everything was made in China. I planned to buy some Halloween, Thanksgiving, and other everyday cards, but walked away with neither. I could not find one card that was made somewhere else, like here in the U.S.A., or Canada, or anywhere else in the world. I will have to try my luck elsewhere, perhaps at a greeting card retail store that should have more offerings, hopefully with some of them being made domestically.

I am definitely not alone in preferring to buy domestic products. There are websites dedicated to all manner of companies that still produce their wares here in the U.S.A. By chance, I came across an article about olive oil from olives grown in California, and am now on the waiting list for a limited supply of a recommended reserve olive oil that must be used within a shorter time before expiration. I love Italian-made goods, but I could not give up the chance to try an olive oil made within the U.S.A. I am looking forward to getting it time for the holidays.

We can’t completely avoid buying things made outside of the fifty states, especially those items made in China. They are everywhere, and sometimes the only options available in stores. I have nothing against the Chinese people; it’s just their government’s cut-throat economic practices and human rights violations I cannot stand. When it comes to buying fresh fruits and vegetables, I almost always buy domestic. I immediately settled the choice between buying lemons grown in California versus those grown in Chile at my latest visit to the grocery store by choosing the former. In that case, they were the same price, but in many cases, buying domestically often means more money. I grin and bear it because I think it is worth it.

Do you think it is worth it?

Another Time to "Just Say No"

Vacations are great for a lot of reasons: you get to relax, there's a change of scenery, you spend time with friends or family, maybe you get to soak in the sun. But one thing that's not so great about vacations is all the money you spend, and that's certainly true in a place like Las Vegas.

Those all-you-can-eat buffets aren't worth the $25-35 you spend on them. And drinks that start at $10 but are no stronger or more special than juice with a splash of alcohol in them are a waste. Some say it's okay to spend more on vacation, insisting that this isn't the time to worry about money. Others point out that things are just as overpriced in NYC. Well, I don't generally pay more for something just because I'm on vacation unless I have no choice. And I don't know about anybody else, but I avoid overpriced NYC establishments like the plague, especially when there's often a cheaper alternative a few blocks away.

If this is how I feel, then I must be saving money on this trip, right? Well, not exactly, because if I'm being completely honest, part of the problem is peer pressure.

Gone are the days when I worried about what I'd do if asked to smoke a cigarette... instead, I'm now worried about the friend who wants to order a drink, an appetizer, an entree AND dessert. Sure, we might be sharing one or all of those, but I still end up spending way more than I planned. Sadly, I've realized I just can't bring myself to say no. I hate thinking that my financial worries are getting in the way of everyone else's happiness (yes, I realize that's absolutely ridiculous).

So as I gear up for my next trip, I'm keeping this in mind and am making a concerted effort to be loud and clear about my budget. I'll look up cheaper options when possible and when it comes to eating more courses than my stomach or wallet can afford, I'll learn to just say no.

Friday Forum: Taxing Activities

Even though your calendar might say today is Tax Day, you've actually got a couple more days -- until the 18th, to be exact -- to get them in.

Have you had your taxes done for months, or do you procrastinate and wait until the last minute to turn them in?

Avoiding Holiday Excess

The Christmas holiday tends to mean busier stores, holiday decorations, more traffic, and general excess these days. The materialism of the holiday season makes many, including myself, very wary. When I started receiving and onslaught of mail about Black Friday and Cyber Monday sales, I began preparing myself for the inevitable. But just when I entered into one store in the mall two weeks before Thanksgiving and heard uninspired, recycled holiday music, I left sooner than I expected because it was too much. Before I did, one of the employees told me that he has had to hear the same soundtrack since the beginning of November, I couldn’t help but tell him I felt sorry for him; he accepted my pity with a tired laugh and a shrug.

It’s not a “bah humbug” feeling that I have about the holidays; I like giving and receiving cards and pretty decorations as much as the next person. It’s just during these difficult times when people are looking for work, or are working but can’t afford to keep up with their family, friends, and neighbors in their spending habits during the holiday season that makes me annoyed. At the same time, I know many of us have changed for the better after the lessons we have learned since the recession first hit in late 2008. Many people I know have limited their gift giving or changed what and the way they give to the people in their lives. I know it has more to do with being economical, but it also much more manageable to do it that way. I will be mailing out and hand delivering some holiday cards, sending online greetings to everyone else, and buying just a few, well thought out gifts for those closest to me. This is not because I feel like I must do so because all the commercials tell me I should; it is because I want to.

How do you combat the materialism of the holiday season?

Saying Goodbye to 2010

This year has been a very strange one for me and a few of my closest friends. There have been some great times, but also a lot of sadness, loss, and general discontent. We're all fairly happy that the year is coming to an end, and looking forward to what will hopefully be a better 2011.

At work, I'm sometimes thinking several weeks ahead, so I already had New Year's resolutions on my mind. I've been thinking about how often people forget about their resolutions or fail completely, and I am pleasantly surprised that mine worked out okay. As you might remember, I wanted to make a series of more short-term goals to make mini-resolutions that I could hold myself accountable for. My resolutions were: getting fit & being healthier, getting my finances in order, reconnecting with people I love, and traveling more.

Without even trying all that hard, I've traveled quite a bit this year, often with people I really love. I've gotten closer to my sisters, my mothers, and a few friends, not to mention that I've gotten back in touch with a couple of friends I hadn't spoken to in a while. Between hot yoga, a ballet workshop, and running, I'm much more fit now than I was at this time last year (plus, my legs look great, which was an added bonus). And while I haven't completely sorted out my finances, I have a much better grasp on them than I have in a very long time.

For 2011, I might try this approach again, but I've also been wondering if it'd be even better to share a resolution with a group of friends. If 3 or 4 of us all have the same resolution (or a set of mini-resolutions), then there's an instant support system for all of us to succeed. I'm going to think about it more and propose it soon to see if we can't make 2011 a rockin' year and forget all about 2010.

Did you start thinking about your 2011 resolutions yet? Have you ever shared a resolution with a group of friends?

"Is He Financially Attractive?"

Last night, I made my way to WAM!NYC's event on financial literacy with personal finance expert Manisha Thakor, and I'm really glad I went because I learned a lot. (I'll probably share some of the highlights with you as I start putting these things into practice.) Manisha was friendly, funny, and talked to us like she was our friend, which all made the information she was giving us much more accessible. Seriously, I can't think of anybody else who has made me feel that comfortable when talking about money.

But of all the things she spoke about, one of the things that resonated with me the most was about finances in relationships. She kept telling us that we needed to talk money with our honey, and stressed that it's particularly important because financial opposites attract.

She gave the example of a saver going on a date with a spender, who marvels at his offer to buy popcorn and soda at the movies. We all laughed when she gave the reaction I know I've had, "you mean you EAT at the MOVIES?!?!" Meanwhile, the spender sees the saver load up on water at a fountain past the security checkpoint at an airport and is equally impressed.

The difference in habits is part of what attracts us at first, but it also comes back to cause some of the biggest problems later. As she explained, when people ask you about getting serious with your partner, they ask if you're physically, mentally, and spiritually attracted to them, but nobody asks you if you're financially compatible.

To which I say, Manisha, where the heck were you five years ago?!

Her big take-away wasn’t that you should be afraid to be with the spender if you’re the saver or vice versa, or that you should try to change their ways (because you won’t), but rather that you should know and acknowledge this from the start so you can negotiate your spending and saving habits throughout your relationship.

I know I’ll be applying her wisdom in my own life – it’s never too late to start!

Too Good To Be True

Have you ever been told you won something, but then found out there was a catch? Maybe more than one? I was recently informed that I won a cruise to the Bahamas after filling out an entry form at an amusement park last month; I wanted the first prize, which was $50,000. I was excited for a second, and then I was told that I had to go to the cruise ship company's office and listen to a presentation for one hour and I was required to have a particular annual salary per year, but I did not have to buy anything from them to qualify for the cruise. It sounded fishy to me, and since I did not meet the second requirement, I decided to pass. Even though I am cynical about these promotional scams, I am still taken in at times.

My mother plays the lottery whenever she gets the chance, and while I understand why she does it, I doubt we will ever answer the door to discover a group of well-dressed people with a cameraman, lots of balloons, and an over sized check for millions of dollars. Part of me dreads that scenario, because I know what would follow: estranged relatives and long-lost friends emerging from the shadows to kiss up to us for obvious reasons and becoming paranoid of anyone who tries to get close. I have seen people become more isolated and distrustful of others around them when more money comes into their lives. I would like to think that I could handle a fortune without succumbing to the pressures and fears of possessing it, but it is easy to say when it has not happened. I guess if something is too good to be true, it often is, especially when it comes to contests, lotteries, and other money schemes that can often blind us from reality.

Do you agree with my thoughts on these “too good to be true” situations? If you suddenly won the lottery, do you think you could handle the pressure and maintain your millions?

Blogging for Equal Pay Day

Many of you probably don’t know this, but today is Equal Pay Day. As somebody whose major in college was women’s studies, I’ve long been aware of the wage gap that persists and have stayed on top of the facts now that it affects me much more. Here's some info:

On average, women make roughly 77 cents to each dollar a man makes. For example, a recent study found that women make $4,600 less than men in their first post-MBA job. Minorities also face a wage gap, and not only because of differences in education. The difference among women is also a problem – the wage gap between mothers and non-mothers is widening. Just this week, we learned that women who have children at an older age aren’t as heavily penalized on the equal pay front as women who have children at a younger age.

There are a lot of factors at play here, but I want to bring attention to one part of it that is within our control, and that’s salary negotiation.

Of all the women friends I have, there are only two I can think of who have ever tried to negotiate their salary – one negotiated her starting salary and the other negotiated a raise. I have to admit that even I had never negotiated a salary until my most recent job offer, even with all of my knowledge about how important it is to negotiate at every level. While every negotiation you make will not always result in the outcome you want or need, it’s still crucial to make the effort and the fact is that a lot of women don't.

Aside from that course of action we can take in our own careers, it’s also good to educate ourselves and others. The National Committee on Pay Equity website has a lot of facts and figures, along with resources on evaluating your company’s practices, learning about the Paycheck Fairness Act, and so forth. So get out there and make every day Equal Pay Day until Equal Pay is a reality.

Food, Friends and Finances

Last night, I had a scrumptious meal cooked by a good friend. Along with another friend, we sipped wine, busted out the Abbey Ale, and enjoyed the pleasure of each other's company. And to make it a picture-perfect evening, we worked on our taxes.

Yes, it's tax season here in the States and my friends and I turned what's usually an annoyance into a fun night of food, drinks and good company.

For my friend, it was her first time filing taxes and we thought this would be a good way to promote financial independence. Hooray for sisterhood! We were able to coach her through the process and get her feeling more confident about being able to keep her finances in order. In fact, I think this dinner, drinks, taxes combo is a great one that I'll be doing often! Any good cooks out there who need tax help? Or any awesome accountants in need of a yummy meal? I urge you all to start this tradition.

At some point in the evening, I started wondering what it is about women and finances... It shouldn't be the case that we are easily intimidated by our personal finances, and yet I find that - at least in my groups of friends - many women are. My friend, for example, was completely freaking out about her taxes. She had no idea what she was supposed to do, what she needed, or how long it would take and the panic was getting to her.

With the rest of my friends, there are some who take complete control over their finances, making sure to keep their debt down, buying property, investing, etc. The rest are completely lost, in loads of debt, not even thinking about investing or buying anything, etc.

Do you find that the women you know fall into the "don't know anything about money" stereotype? Or do they have their finances in order? I'm curious to see how much of this is an actual problem and how much has finally changed.

(Originally posted on Feministe.)

Money Makes the World Go Round

CHICKS ROCK! is happy to have Kristina back as a guest blogger this week:

Kristina Leonardi is the founder of The Women’s Mosaic. She is a career/life path consultant, speaker, seminar leader and expert in the areas of women, diversity and personal growth.

Join her for TWM's Visioning Workshop next Saturday, March 20. You can also check out her series, Thursdays at Three for weekly inspiration.


Artists and musicians do it. Actors and writers do it. Designers do it. Nonprofits and entrepreneurs do it. To some extent, we all do it. We strive to maintain our authenticity, creativity and vision of who we are and what we want to express in the world while trying to earn a living in it.

Last week I attended a lovely event hosted by In Good Company highlighting the journey of fashion designer Selia Yang. She reinforced once again that for successful creative types, every decision cannot always be 100% creative - to truly exist and thrive, you must understand and often defer to the financial/commercial aspect.

These types of lifestyles are the 'roads less traveled' for a reason - if it was easy everyone would be doing it! It's a path that takes faith, determination, perseverance, and, perhaps most of all, courage.

The word courage is made up of the Latin root for 'heart'. There is no doubt that to do what you want to do in life, you need lots of heart - in the form of love for yourself, others and your work, and the passion and conviction to forge ahead, even if you don't know for sure where your next meal will come from.

There's a reason they call it show business, and although nonprofits are not for profit, they still need money to do the work they do. How to achieve that balance of being who we are and supporting ourselves is an eternal quest with no silver bullet answer. At the end of the day, we need to be able to decide as individuals just how much we can compromise ourselves for it.

When choosing to live a life that is most true to who you are, you need to be aware of what things you might have to sacrifice to make things happen. But as challenging as the path can be, there is always a payoff for sticking with it - we wouldn't have all the beauty, innovation, entertainment and opportunity in the world if others hadn't done so!

Swap 'til You Drop

A few weeks ago, on the same day as the blogathon I participated in, I organized a clothing swap for me and my friends. For those of you who might not know what that is, the way it works is you have people bring clothes they don't want anymore and then swap clothing with each other. The idea is that even if you don't like something anymore or it no longer fits you, somebody else might have a use for it.

I love the idea of clothing swaps for a number of reasons. For one, it's a great way to reduce waste. I've often heard of or seen people throw their clothing away, and this is such a huge waste. There are places you can take their clothing to recycle, but at the very least, folks should be donating their clothes to Goodwill or the Salvation Army. A clothing swap is in the same spirit, except your clothes go to your friends and acquaintances.

Another reason I like clothing swaps is because it can save money. During times like these, it's hard to think about spending hundreds of dollars for a few new pieces of clothing. Even if you wait around for sales or shop at a thrift store or Goodwill, finding the right item can take time and you'll still have to pay for it. At a clothing swap, everything is free! A barely-worn jacket that once cost somebody $100 is now yours for nothing.

Of course, the best reason to have a clothing swap, in my opinion: the fun! You get to spend hours with friends and family, drinking and munching away. You'll probably end up hearing at least a couple of stories sparked by clothing items -- a dress worn to the first date with a now-husband, the outfit that got somebody their dream job, the jeans somebody wore when she fell face-flat at a college event. Their memories become intertwined with yours and everyone knows their clothes have a great new owner. It's like The Sisterhood of the Traveling Pants for grown-ups.

Applying Our Financial Knowledge

I am not one of those people who need a coffee fix at their favorite coffee shop or chain every morning, or buy $10 lunches at work. Even before the recession hit us hard, we all knew that using credit cards like limitless cash and paying just the minimum monthly payment are habits that will keep people in debt for life. Now that some of our worst financial nightmares have come true, I know that the “rainy days” are here to stay for a while. Instead of living in constant fear, we have to make the hard choices and change our bad financial habits for good. Even when the economy rebounds and employment rates go through the roof, I will not become financially complacent again. The lessons all of us are learning now are too painful to forget.

I have done my best to avoid debt like the plague. Refusing to use credit cards is the most effective method. I have a debit card that can be used like one, but I am always mindful of my bank balance and never go over it. Last year, I opened a credit card account at a well-known department store to obtain a discount on a purchase, but I immediately paid off my balance and have not used the account since. I still get letters promising all kinds of savings if I make more purchases on the account. I’m not tempted to do so.

Since my detox began, I hardly ever go out to dinner. If I have to buy something, I have dietary as well as financial limitations to consider. It can be frustrating, but I have to admit I feel good when I see how my cutbacks on eating out pay off. I have also always been a very careful shopper, and I will continue to be so. I try not to make frivolous purchases, and when I do I always try to make up for them by cutting back on others or returning them, if I am allowed.

Do you have any savings' tips to share?

Resourceful in a Recession

There is no question that the domestic and international economic situations are pretty grim. With the highest unemployment rate since the early 1980s, many people are lamenting the current crisis and fearing it will last longer than expected. While I understand the situation and know people who have been laid off or lost property during these difficult times, we cannot give in to despair. We have to think “outside of the box” to survive during this recession. It's easier said than done, because we are all used to our routines and regular paychecks, but I think it is the only way we can weather this economic storm.

This means exploring other careers in other fields and industries we may not have thought of doing before. I recently spoke to someone who lost his job working in a dentist’s office and decided to start his own remodeling and construction business. He put his creative skills as an artist and his experience with home improvement projects to good use by working on a variety of jobs for many clients at the same time. He is feeling the effects of the recession like all of us, but is still doing well because he's flexible and willing to compromise.

People looking for specific jobs in specific fields, such as finance and communications, find themselves in fierce competition with more candidates than ever before. I recently saw a report on television about how many men have lost their jobs, while many women are still working, for less pay. One man has been home for almost a year after being laid off from his financial securities position, which he had for almost twenty years. He has been sending his resume to various financial institutions everyday, hoping for the best. In this case, the man with the MBA is not faring much better than the high school graduate.

Stories like these inspire me to be more resourceful. I am looking at other positions, attending more networking events, volunteering, and so forth. This is definitely not the time for any of us to be complacent.

Are you being resourceful during this recession?

Job Loss as Personal Growth

CHICKS ROCK! is happy to have Kristina back as a guest blogger this week:

Kristina Leonardi is the founder of The Women’s Mosaic. She is a career/life path consultant, speaker, seminar leader and expert in the areas of women, diversity and personal growth.

See her speak for free this Saturday at Equinox when she presents: Pink Slips: How Losing Your Job Can Be a Good Thing


If you are one of those people who has lost your job, or feel like a pink slip is on the horizon, I want you to know that I believe this can be one of the best things that will ever happen to you.

Job loss can give you the opportunity to make a career move you've needed all along but were too afraid, lazy or apathetic to do anything about. If you've been stuck in a rut, been unhappy with your career, or needed to re-shift your work/life balance, this is the time you can do it. Losing your job forces you to examine every area of your life and gives you no choice but to take action, make changes and grow. It asks you to re-evaluate your sense of self -– is your identity and self worth solely based on your job, career or salary? Those can be some tough questions, but we should all examine ourselves like that at least once in our lives and are always better off by doing so.

The loss of a job gives you the chance to assess and re-prioritize what in life is meaningful to you, and what you have or have not been doing up until now to achieve those things. One’s career choice is at the top of that list, and it is a serious reality check on all levels. But in reality, this is a good thing, because then you can start making decisions that get you closer to where you really want to be.

Right now, a lot of people are doing some serious soul-searching: they are looking to value things more important than money; they are finding internal strength and personal resources they might not have discovered otherwise. An increase in community, innovation and altruism will occur as a result of all that’s happening, and as difficult as this time is, at the end of this cycle I do think we will end up being more fulfilled and grounded than ever. Although our net worth may be less, our quality of life can improve dramatically and become enriched in other ways.

It certainly is a tough time if you haven’t prepared in any way, but it can also be a good one for those who can accept change with the right attitude and can take those proverbial lemons and make some tasty lemonade!

Have you lost your job recently or in the past? How have you grown as a result? What are some changes that have occurred?

Optimism Abounds at the Savvy Ladies Gala

The Women’s Mosaic is a great organization to be a part of for many reasons. One of them is learning about other organizations that are run by people who are as dedicated to women as TWM is. Savvy Ladies is one that focuses on promoting financial education for women. On a rainy night the day after the presidential election, I was fortunate enough to attend Savvy Ladies' Holiday Gala on the Upper East Side in New York City. As I walked into the main room with a glass of champagne in hand, I knew immediately that many of the attendees were in a "giving" state of mind. Kekla and I bought raffle tickets and participated in the silent auction, both of which benefited the Savvy Ladies' scholarship fund.

Even with the live music, free food and drinks, swag bags, and elegant setting, it was the speech by the celebrity guest that was the highlight of the evening. Kim Kiyosaki, author of Rich Woman, was honored as "Savvy Ladies Changemaker of the Year," and she expressed her gratitude towards the organization by donating $1,000 to Savvy Ladies’ fundraising efforts and giving away autographed copies of her book to everyone in attendance. She spoke to the enthusiastic crowd about her and her husband Robert (author of Rich Dad, Poor Dad), and their continued efforts to teach people tips for financial success. Kiyosaki spoke directly to the women in the room, encouraging us to become the masters of our financial destinies. As I said in my previous post about personal finance, I am always open to learning from those who are positive financial role models in our society.

For me, the timing of the Savvy Ladies Holiday Gala was perfect. I feel refreshed, and optimistic about the future of our nation and our world. I can't wait to see what the next year has in store for us!

Taming Those Green and Plastic Monsters This Holiday Season

I have always loved Halloween. It is a day when adults, teens, and children can be whoever they want to be. We can get away with sugar rushes, carving pumpkins, having parties, and being silly. It is what happens after Halloween that gets me really scared.

It has already begun: every year, it seems like the Christmas cards and decorations are put on display earlier and earlier. Retailers are preparing us for their busiest money-making time of the year. The “Green and Plastic (cash and credit card) Monsters” start getting restless in our wallets and purses. We must learn to control the urge to abuse them to satisfy our materialistic tendencies. The current economic crisis has been an unfortunately effective deterrent to many of us these past few years, but it should not be the only reason why we control our spending.

Every Wednesday night in Brooklyn, I meet with others who want to take back financial control from the “Green and Plastic Monsters” in our lives. While munching on delicious snacks, we discuss "The Total Money Makeover: A Proven Plan for Financial Fitness," by Dave Ramsey. I haven't read much on the subject before this, but I already feel affected by his message of financial moderation. I don’t have to be a math whiz to understand what Ramsey, as well as many financial experts, out there tell us: ALWAYS try to purchase with cash only, have at least $1,000 set aside as an emergency fund, and start tackling bills by paying more than the stated minimum balance. The key is to prevent further debt by "suppressing the plastic," once and for all.

While I am thankful that I currently have no debt to speak of, I appreciate a common sense approach that helps to steer the financially clueless towards long term, debt-free futures. There are temptations everywhere, urging us to spend, spend, and spend some more. With the economy being what it is, I personally don't want to take any chances…I need all the help I can get!

Do you think you have a good relationship with your money? Why or why not?