Gals' Guide

Get to Know Your Money

I've started lots of money management plans with detailed spreadsheets and fancy charts, only to abandon them a few weeks later when all the data entry became too tedious.  (Like I have all day to enter receipts into Excel.  I've got things to do and money to waste!)

For those of who you have the same problem, or for those who are trying to get your finances into shape for the first time, Wesabe is a great website that provides a lot of bells and whistles without a lot of work.  You can download your statements directly from your bank and credit card company and tag them with descriptors like "rent" or "dining out."  Wesabe remembers these tags and adds them every time that vendor appears.  You can then set minimum and maximum spending for each category and they'll create charts that track how your spending matches up with your goals. 

They also take knowledge from the entire Wesabe community to help you make better financial decisions.  If they notice you're spending a lot of money at one vendor, they'll recommend another that's cheaper and rated higher by their users.  You can also meet up with other people who share your goals, like paying off credit card debt or buying a house.

Read more about Wesabe and what it can do for you at their FAQ page.  Sign-up is free and you don't have to provide any financial information unless you want to, though it is safe and private.  Here's to starting out 2009 prepared to be prosperous.

"Unmarried Woman" Label When Buying a Home in Illinois

I was reading a smart post on Career Girls about financial responsibility being sexy. Cannot agree more with Nicole on this one.  As she wrote about mortgages, credit scores, etc, I couldn't help but to find the old picture of me buying my condo.  Take a look at this snapshot....I was labeled as an UNMARRIED WOMAN.  I guess I should be happy it wasn't SPINSTER, right:).

Budget Tip for Take-Out:Lettuce Entertain You Frequent Diner Program

It was Friday night. I finished a long, fun day at a conference at the Park Hyatt. From there, I met with a series of fantastic women that are helping plan the amazing, out of this world Holiday Shopping Extravaganza at Banana Republic. December 5. Save that date, ladies. You won't be disappointed!

I didn't feel like cooking and didn't have the energy to meet up with some friends at Billy Goat Tavern. My feet hurt, I needed to put my bag down, but knew I should grab some take out before heading to the train. As I grimaced with the notion of spending money, I realized I had an awards card in my wallet that could take care of both my hunger pains, but also my wallet - The Lettuce Entertain You Frequent Diner Program.

Recession Confessions

The economy is ugly right now, and I am happy. I don’t know if it was those two years living abroad, but I’ve always thought America and Americans generally live like slobs, from paycheck to paycheck, credit card to credit card. Did you know there are credit cards for everything these days? Gas cards, department store credit cards, college credit cards, Target credit cards, salon credit cards? Doesn’t anybody pay for anything these days? Absolutely not. In fact, has anyone seen actual green money lately? Quick, what President is on the bill of a $20, a $10, a $5?

Unlike my fellow Americans, I do not live on credit or credit cards. I admit, I have student loans and miserably pay those off monthly, but that’s it. I’ve spent most of my twenties and college years struggling, and it didn’t help that all my friends and peers had so much money to blow constantly. But guess what’s happening now? I’m learning that they didn’t have money; they just spent like they did because it’s not cool to admit that you’re either broke, or saving for a sunnier day. While some of these people are considering or have already foreclosed, sold the Cadillac Escalade or filed for bankruptcy, I feel bad for them. Because when it comes down to it, not only are they losing their fabulous lives, but, they’ve never learned how to live without certain amenities, without certain lifestyles, without eating at certain restaurants, or without buying certain Prada and Louis Vuitton handbags.  How can one walk if one has never learned how to crawl without crutches, I mean, credit cards? How are they going to cope now?

Taxi Cab Confessions of a Credit Card-Paying Junkie

                                                   The scenario: You stumble out of bed late this morning. It’s monsoon season in Chicago and while the rain patters quietly against your window, putting you back to sleep, you wink, look at the clock, and realize it’s Thursday, NOT Friday. Glancing over to the pile of laundry sitting in the corner of the bedroom, a dark cloud settles around your head too, as it dawns on you that you wore your last clean pair of underwear yesterday. But alas, you find a thong, throw on a red scarf, pick up a banana and make it to the street –sans coffee. Unfortunately, there goes the #151 – in sight, yet out of reach. You wish there was an old lady with her cart about to get on, as this would buy some time to run over there. Today, however the bus trudges on. No one is even waiting at your stop anyway. But the clouds part, and because your beauty is striking, no matter how late it is, a cab is always on stand-by, noticing you’ve either just missed a bus, or would be better off taking a taxi anyway. You get in, make it to work, rifle through your purse, and find four one dollar bills, while the cab fare is eight. Fortunately, something shiny stares up at you. You remember that your paycheck hits tonight, the Visa logo on your card calls, “do it, do it. What does he care anyway, now you can give him a real tip too.” What do you do? What do you do?

Chicago Sales Tax Increases to 10.25%Cook County at 10%: Highest in U.S.

Starting July 1, the Cook County Sales tax will jump up 1%. We in Chicago will also enjoy an additional .25% increase for the RTA, which gives our grand total sales tax a whopping 10.25%.  If you want to do some comparisons, New York City's sales tax is about 8.4% and Los Angeles is 8.25%.

A pair of $50 Gap jeans will cost you $55.13 in Chicago and $55 in Schaumburg.  I mention Schaumburg because this is where Woodfield Mall is located. If you think you can escape the new tax by going to another Cook County mall, think twice - the 10% applies. The tax does NOT apply to groceries, boats, cars or medicine. 

However, if you go shopping in Lake, DuPage or Will County, you'll pay about 3.75% less. Anyone want to organize a GG Saturday shopping trip in one-a those counties? :) Thanks, Todd Stroger.And thanks to Commissioner Larry Suffredin who swung his vote in the last minute in favor of the hike.

Turn $451 a Month Into One Million Smacks

Happy Friday,

Oil is up, corn is up and everyone is penny pinching.  Here is an article I dug up on how you can take $451 a month and turn that into a cool Million in 35 years. If you don't have the extra $451 a month (and your 30 years old), the post also has tips to monthly penny pinching. 

Here's to becoming millionaires!

My 'Economic Stimulus' Check

I just got a notice in the mail that I'm getting exactly $453.  No check, just a letter saying I should 'expect' $453 as my part of the 'economic stimulus' package. 

The only thing I really plan on doing with this 'spare cash' is adding it to my bank account.

Ladies, what do YOU plan on doing with your package?

UPDATE: Ok, I couldn't help it - I used some of my rebate check to go see the RED WINGS in Detroit this weekend. I love my hockey team and am going to sneak in a Mother's Day visit:)