Bloggers & Budgets: Ashe, Dramatis Personae

 

While I'm off in NYC trying on some wedding dresses (eeeee!), check out this weeks edition of Bloggers & Budgets Featuring Ashe from Dramatis Personae. I first stumbled across Ashe's blog when this post was on IFB's Links Ala Mode. Naturally I instantly fell in love with her honesty about debt and of course her amazing eye for fashion and have been reading her blog ever since.

Ashe, 27 (though I think I'm 28), New Orleans, LA. I work full-time at a local university in theatre & dance, blog full-time at Dramatis Personae (and weekly at Independent Fashion Bloggers). My boyfriend of 6 years and I recently moved back in together, and we live with our precocious cat, Lottie.

The Questions

1. How would you describe your approach to personal finance: hands-on or hands-off?
I strive to live within my means, moreso now than ever. I check my banking almost daily, and since I'm paid monthly, that means I do HAVE to be incredibly hands on--otherwise I'll be out of money by the time the month is over!
2. How do you balance your finances with style blogging? (Buy everything on sale, remix, budgets?)
I had once read in In Style magazine, a quote that essentially said, "If you won't pay full price for it, you don't love it enough to buy it." To some degree, I really believe that. I believe in building a wardrobe with pieces that you love enough you'll save for, pay top dollar for, and love forever. But on the other hand, I really believe in patience, fate, and seeking out a sale or discount. Recently I fell in love with a Marc Jacobs bag-- it's hard to find, over $400, and sells out quickly. So I bought it--out of my bank account (not plastic!). But not before finding a 15% off discount. That basically covered the cost of tax, but it also saved me $60.
Having my partner move in with me has helped me balance my love of fashion with my financial goals. It helps having someone to keep me accountable and encourage me.

3. What do you want to accomplish [financially] in the next five years?
I'd like to have no credit card debt, and to only use them for travel, monthly bills (to be paid off each month), and emergencies. I'd like to purchase a car this year, and the Beau and I would like to save up a down payment so we can buy a home. We're working to jointly create a 6 month emergency savings account, and I know paying of his students loans is a priority for him.
4. Do you have any financial regrets? (something you wish you had done sooner, hadn't done at all?)
I wish I had just stopped myself. After Hurricane Katrina, shopping became an emotional escape and coping mechanism for me. Prior to Katrina I never had more than $1000 in debt. Now I have significantly more. I wish I had cared more and realized what I was doing.

5. Share with us your best/favorite tip for saving/spending/paying off debt.
Google search for the lowest price and coupon codes! Almost everyone online is having some kind of discount at any time--whether it's so little as free shipping or 10% off. Some people buy things the first place they find them-- I try to search out every possible location, gauge shipping vs. cost, and get the best deal I can.

Bloggers & Budgets: Alyson, Alyson is Neat

This week's installment of Bloggers & Budgets comes from Alyson. If you don't know Alyson you need to. This girl gave up shopping for an entire year! Seriously. I can't even imagine that, but she did it. Not to mention that I just absolutely adore her style.



1. How would you describe your approach to personal finance: hands-on or hands-off?
I am very hands-on, but definitely not to the point of SSF. I love keeping budgets and seeing where my money has gone and where its going. I adopted the "adding on spare paper" disease from my mother. She was always keeping track of bills, expenses, incomes, etc on the back of envelopes, receipts, open spiral notebooks... you name it. I try to keep track of what I will have left over and make my budgets every two weeks (which is when I get paid). This became even more true when I lost my job in 2010. Call it worrying, but I like to see what I'm going to have when all the bills have hit the floor. I have several apps on my phone that allow me to be instantly connected to my expenses, bills and most importantly my bank account. I will definitely say I am still in the beginning stages of taking the reins of this race horse called finance, but I know the race is going to get good.


2. How do you balance your finances with style blogging? (Buy everything on sale, remix, budgets?)

Well, my first year of style blogging, I didn't buy clothes for a year. I borrowed a lot. I accepted hand me downs. I sewed. I got REAL creative with my closet. But I didn't buy any clothes for that whole year. Now that I've started shopping again, I shop very wisely. I try and get things on a discount, and definitely shop sales. I only buy stuff that I really really want. I hate paying full price on something new, but I will pay a little bit more for hand-made and vintage. I set myself a budget for clothing each two weeks. Depending on what I have coming up... birthday for a friend? vacation to save up for? a nice dinner with my man? All of those things will go before shopping. This amount can range anywhere from $30 to $100 or more. Its usually closer to about $50 a pay period, but sometimes lower.


3. What do you want to accomplish [financially] in the next five years?

Get. Out. of. DEBT! I have two credit cards with about $5,500 on them total. I have a $14,400 student loan. I need to save up a 6 month emergency fund. My job has fantastic benefits when it comes to retirement funds, and I am excited to take advantage of that as well.


4. Do you have any financial regrets? (something you wish you had done sooner, hadn't done at all?)
I fully regret using credit cards before I knew how bad they could get. I wish I had believed what everyone had said which was, "Don't get a credit card. You don't need to buy those clothes." I also wish that I had gotten professional help from my days of being a shopaholic. When I decided to not buy clothing for a year, it all started when I read an article about being a shopaholic and some tell-tale signs. There were 50 characteristics I think, and if you exhibited 18 you were considered a shopaholic... well, I had way more than that. I wish I had seen it sooner, and identified why. The way we spend money can be directly related to our emotions. It is scary. Now, I understand why when I have a bad day, I want to hit up Wal-Greens and get some new nail polish. Instead of shopping, I try to take responsibility for my own role in my bad day, and what I had no control over, then let it go.

5. Share with us your best/favorite tip for saving/spending/paying off debt.
Cut off access to credit. Its the same concept as freezing your credit cards in ice but who has the freezer space for that? I've heard of people sewing their credit cards into fabric pockets. What I did though was use what I had on me at the time. I took a few sheets of paper and scribbled in bold black letters NO!, I then wrapped my credit cards in the paper, and then wrapped them in clear packing tape. I stopped using credit. I kept them in my wallet in case of an emergency. I have since had to rip them back out, but it took some WORK! They need to go back into their safe homes... its time.

Bloggers & Budgets: Tieka, Selective Potential

I'm so excited to bring you the second edition of Bloggers & Budgets. I'm sure most of you know this next blogger. She is basically ubiquitous with the genre of personal style blogging. She is one of the first bloggers I came across when I started my foray into blogging and she has continued to be a source of inspiration. She has a magnetic personality that seeps through everything she writes and of course she is from the great state of Michigan.   This week the lovely Tieka of Selective Potential talks personal finance!



My name is Tieka and I'm the blogger behind Selective Potential. Currently, I'm 24 years old and I live on the shoreline of west Michigan. I work full-time as a graphic designer at a communications company in the city. I've been married for three and a half years to my amazing husband, Brett, and currently we don't have children (yet!) We spend a lot of our time riding scooters, playing in our punk band and catching movies on the weekends. We love to take adventures and small trips around the state and find the corniest things possible to do with our time. We're kids at heart!


The Questions

1. How would you describe your approach to personal finance: hands-on or hands-off?
I am very hands-on with our personal finance situation. Brett lets me take the reigns of our budget and I thrive on it. Plus, I'm just better with money than he is. If it were up to him, we'd own a record shop and eat a $30 pizza every night for dinner! I plan way ahead for our budget. Before each month begins, I have a budget where I plan on all of the bills and additional expenses I can guess we are going to have. I track my checkbook balance in a very detailed spreadsheet - making sure to create formulas so I know how much we've spent on: groceries, dining out, entertainment, clothing, etc. If I see that we're getting close to the end-cap on a budget, I'll try to cut back. On a daily basis, I'm balancing our checkbook and paying bills! I like to be ahead of the game and always know where we stand - financially!



2. How do you balance your finances with style blogging? (Buy everything on sale, remix, budgets?)
When I first started style blogging, it was so easy for me because I had an entire closet of clothing I hadn't yet showed off to the world! After a few months and I had exhausted my closet, I knew I would have to start purchasing more items to keep it fresh on the blog. In the very beginning, I turned to thrift stores for new ideas. Some of my best ideas came from remixing and thinking of a piece of clothing in a different way than what it was meant for. Like turning a larger skirt into a dress with a belt, perusing the old men's section for grandpa cardigans, etc. I also thought of very inexpensive ways to make a bold fashion statement - and that's where I turned to crazy patterned tights or large chunky belts over everything. Now I have a full time career and a budget to shop, but I still look to my old ways of remixing items and hunting for sales. But once in a while, I'll splurge on something I truly love and it feels great!



3. What do you want to accomplish [financially] in the next five years?
Financially, in the next five years, my husband and I would love to own a house. We've been working hard at saving 10% for a down payment and having extra in the bank in case of those pesky "hidden costs". It has been insanely hard for us to save money for some reason. I feel like any extra money we get - we take a trip, or we go on a shopping spree. We don't save any money. So when our cars break down or we need to pay a medical bill, we are so unprepared. I'd love to have a savings account that can bail us out in case of emergencies and I'd love to comfortably pay a mortgage. Those are two huge goals for us!

(editors tip: I've always found paying yourself first is the easiest way to save. Build and amount of savings into your budget by taking it out before you pay all your other bills. Schedule an automatic transfer to savings the same day you get paid. Along the same lines as the automatic deductions for tax, health care, and/or retirement plans- it stings at first to have less, but you eventually stop noticing and have way more in savings)

4. Do you have any financial regrets? (something you wish you had done sooner, hadn't done at all?)
When I was in college, I racked up some major credit card debt. I went to a very expensive private art college and it was all paid for in financial aid and student loans - but it left me with no extra money for food, fuel, utilities, etc. It paid for classes and rent - and that was it. I had a small part-time job at a coffee shop, but that didn't go very far either, so anything extra I needed or wanted - I used my credit cards. I got engaged my freshman year in college and so Brett and I put so much of our wedding expenses on credit cards (so dumb!) so by the time we were married, we had over $7,500+ in credit card debt! I was so lost and felt totally overwhelmed that I had to sign up for a "debt relief" payment plan! They reduced all of our interest rates and closed all of our credit cards - and within 3 years - we paid it all off. I totally learned my lesson there and would never do anything like that again. We have two credit cards now - with very low limits- and I keep it that way. Even if we get the offer to increase our credit limit, I always turn it down.


5. Share with us your best/favorite tip for saving/spending/paying off debt.
Well, I can't help you with saving money. I'm still a mess in that department. But I'm great at budgeting spending costs - even though I never budget in savings. Ha! Shame on me! But, all of our bills are paid on time, every month, we always have money for groceries, entertainment, fuel and anything else we'll need that month. I would just recommend creating a budget each month. Guesstimate what you think you'll have to spend - on bills, utilities, groceries, everything. Even if you can't stick to it exactly, it will help you realize what you are spending each month and you'll be able to cut down on things you don't exactly need.

Bloggers & Budgets: Lisa, Archives

As I hinted at last week I am really excited to bring you guys my first Q&A.  I had this idea one morning to have other bloggers answer some questions about how they balance fashion blogging and personal finance. The idea came to me so quickly one morning I literally shot out of bed and fired off an e-mail to my some of my favorite bloggers. I asked each blogger to tell us a little bit about themselves and answer 5 questions about their budgets. Just as much as we all need style inspiration, it doesn't hurt to get a little financial inspiration as well. So without further ado, Lisa from Archives is going to kick off the madness of this Bloggers & Budgets series (it's a working title).




Meet Lisa!

Age: 28
Location: Chicago, IL
I currently work as an executive assistant, but am about to quit and take selling vintage in my Etsy shop full time. My boyfriend and I don't have kids, but we do have a furry friend, Atlas, who is probably the only dependent we'll have! At least for quite a while.

The Questions

1. How would you describe your approach to personal finance:
Mostly hands off....I'm awful at saving or spending responsibly. To give you an idea: the company my employer uses to manage our retirement funds has a retirement "forecast" in pictures (seriously). Mine has a big, rainy sad face with a storm cloud hovering above it. Since I'm about to make a major career change, adjusting to self employment will have to change my approach. I'm hiring an accountant to manage my business and personal finance. I think it's the only way someone like me can be successful!

2. How do you balance your finances with style blogging?

By nature, I'm a bit of a cheapskate. I will never pay full price at say, The Gap. They constantly run sales, it's kind of absurd to pay full price for merchandise that will go on sale in a few weeks. I've spent a lot of money over the years at "fast fashion" stores like H&M, Forever 21, etc. because their items were so affordable. Now, I'm finally learning that quality over quantity is important.

My love of vintage clothing has only furthered that sentiment - vintage items were often made at a higher quality, and thrift stores have no shortage of vintage clothes. So most of my recent spending has been at thrift shops; they pretty much marry everything I'm looking for at the moment: good quality vintage items at a price that doesn't break the bank. I want to inspire other ladies to make similar choices by wearing my finds and ignoring trends on Archives. Style absolutely does not come from a magazine or have to be determined by pricey designers.

3. What do you want to accomplish [financially] in the next five years?

If you asked me a few weeks ago, I would have said to save for a down payment on a house, buy said house and settle down. My boyfriend and I have wanted to buy a bigger place for a while (he owns the condo we live in now), and we decided this would be the year we get serious about saving for a house of our own.
As I started looking at how long that would take me, and how long that meant I'd have to stay at my job (read: forever and then some), it got me thinking about my life like my closet: quality is more important than quantity. I'd rather be happy working for myself than miserable working just for a paycheck. I must be the luckiest gal in the world, because my other half totally agrees and supports my decision, even if that means putting our plans on hold. So....in five years, I really have no idea what my situation will be! Hopefully I'll be a successful small business owner!


4. Do you have any financial regrets?

Definitely. Now that I see how much money I've wasted at fast fashion stores on items worn somewhere between 1-5 times, I definitely regret my reckless spending. If I could go back in time, I wish I had been saving all that money.


5. Share with us your best/favorite tip for saving/spending/paying off debt.

Clearly, I'm not the best person to be giving advice in this department! So, I would recommend setting a monthly spending budget and try to avoid impluse purchases. Easier said than done, but it's worth it in the long run.

Thanks Lisa! If you love Lisa as much as I do don't forget to check out her blog, twitter, and vintage shop!
I hope you guys enjoyed reading about someone else's finances. I've got plenty more where that came from.