Credit Card Brains

I promise I’m still alive, just totally swamped with work and vacation planning. This isn’t permanent; I’m hoping to put up some new posts soon.

In the meantime, enjoy one of my favorite finance-related video clips ever.




Oh how I love both Kristin Wiig and Suze Orman. This makes me laugh so hard my sides hurt. I actually think I liked the one with Jonah Hill better, but I can’t find the video anywhere. Darn.

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Alpha Consumer’s asking you to share your best budget date night, and she’s giving the winner a free book. I know you guys have some great ones, so post them there and then post them back here! When I think of one, I’ll submit and share it with you. This could be fun.

Also, while you’re there be sure to read a few of the great ideas her readers are posting. Here’s a good one:

“Now that it’s summertime, the Brooklyn Bridge Park Conservancy has started showing movies under the Brooklyn Bridge on Thursday nights. My boyfriend and I pack some snacks, order a pizza from Grimaldi’s for about 20 bucks, and watch a FREE movie outside. Last night we even got to watch some fireworks that were being fired from Governor’s Island before the feature, Invasion of the Body Snatchers.”

Fireworks, movies, pizza and the Brooklyn Bridge? Love it. I can’t wait to hear your thoughts.

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So many things on my mind, so little time to write. Which is the topic you’d most like me to write about next?


1) The fact that I’m noticing more and more of my friends are out of work. Young, smart, talented and totally capable people are being laid off left and right. WTF?

2) How I don’t know my credit score and I’m afraid I somehow recently messed it up. Arg! Credit!

3) To brokerage account or not, that is the (potentially) million-dollar question.

Let me know and I’ll whip something up faster than you can microwave last night’s leftovers.

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Hey guys, the Carnival is updated to include a few articles that were inadvertedly left out. Please go back and check out the Reviews and Retirement section and make sure to visit our friends!

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Lately, I’ve been feeling stuck in a bad relationship. You know the kind: the more effort you put in and the harder you try to make things work, the worse it gets. The kind where you get nothing in return for your loyalty and sacrafice. The kind where promises always disappoint, and joyfulness turns to bitterness.

That relationship describes the one I have right now with American Airlines (we’ll call it Amer). Despite how perfect we seem together — it’s for business travelers, it has great schedules, direct flights and courteous staff — I know that deep inside, Amer doesn’t really care about making this relationship work. He’s got too many other things going on to care about little ol’ me. He’s working late nights, trying to come up with efficiencies to balance the cost of fuel to keep his planes running. He’s lobbying congress for lower oil prices and higher subsidies. He’s focused on the bottom line. And our relationship is suffering.

In the beginning, Amer was the best. There was a certain glamour to flying together, a cache that came with the ticket. He offered gifts (sure, they were just peanuts, but they meant something) and we went to movies together. When I got cold, he offered me a blanket. When I got tired, he offered me a pillow. We stayed together long enough for me to earn Gold status, and I couldn’t have been happier. He even managed to take me on vacation once per year.

Our relationship wasn’t always perfect. I admit, I strayed a few times over the years. But those experiences only reinforced how strongly I felt for my superior partner.

But over the past two years, to be blunt, things have been strained. Amer first stopped doing the little things - pillows, blankets, food, movies. I could deal with that if he kept me on time and running efficiently, and especially if I managed to get a free ticket out of the deal, but for two years, due to CRAZY restrictions on travel and changes to the loyalty program, there’s been no vacation trip. (Really? Do you think I’m going to take a three-leg, 12 hour flight to San Jose??? Am I worth nothing to you?) Just a cold, online booking interface that frustrates me to no end. And a promise to sock my friends and family with extra baggage charges whenever they bring their trip supplies.

So last weekend, instead of waiting around for Amer to meet me halfway, and after waiting around for months Amer to come to its senses on price or rewards, I did the unthinkable: I applied for a loyalty program with Southwest Airlines, and then I booked two flights on it.

And now, I have a vacation scheduled. For $450 ($300 less than Amer), I’m flying to Seattle in August to enjoy a lovely coastal retreat (my favorite kind). And while I’m not terribly excited to be traveling with a bunch of families on summer vacation, (I’m a travel snob now, what can I say…it’s no fun to be around crying babes or rowdy teens when you’re on a plane and wound tight. It’s just not.), I think there’s a lot to like about Southwest.

So Amer, I know we’ll be seeing each other around, and probably will even be hanging out sometime soon. But know this: it’s not the same. I’m through being that naive girl who waits expectantly for your gifts, only to settle for broken promises. I’m moving on. Southwest may not have your glamour, but it certainly makes up for it in niceness (how’s that for a word?) and appeals to my sense of frugality.

Plus, he’s offering that vacation flight way easier than you are.
+++++++++++++++++++++++++++++++++++++++++++++++++
(Moral of the story? I FINALLY booked our week-long vacation! More expensive than I wanted — I was hoping to cash in free miles to cut the flight cost in half — but less expensive than it’s been looking for the past few months. I’ll let you know how Southwest’s Rapid Rewards program goes. I think more and more of us are going to be flying it lately.)

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Happy Monday and welcome to the 161st Carnival of Personal Finance! This week’s theme is renewal, because I’ve been thinking about it a lot lately. It’s been a central focus of my site, “The Budgeting Babe” since I started blogging in 2004 with a little savings, a lot of debt and a weakness for power shopping.

When I developed The Budgeting Babe, I did it knowing that my 20’s were a time for reinvention, the decade when I would officially “grow up” and define who I would eventually become. Today, going on 29, I’m happy to be a financially independent, fiscally fit (most days), free-spirited, fun loving woman. But while I’ve spent all this time reinventing myself in hopes of growing into a mature, financially savvy adult, it never occurred to me this week that rebirth, reinvention and growth never stop.

All around me lately, I see friends and family in the midst of change and fresh starts, most incredibly positive (new jobs, new roles as a mother or farther), yet some negative (foreclosures, layoffs). And in the midst it all, it has occurred to me that life is all about growth and renewal. Just because you’re fiscally fit today can’t predict who or where you’ll be in five years. Picking yourself up after a long slump, or reevaluating yourself to manage life’s changes are key to your ability to succeed financially.

On that note, here are my editor’s picks for the week:

• So Sick of Debt announces that she’s DEBT FREE! Kudos! If anyone doubts the power of transformation, read about it here and catch the feeling.

• Kim at Alpha Consumer was reading my mind this week. She published a great letter from a reader who lost it all, along with some great advice for starting over.

• Amanda at Value for Your Life is deciding whether to reimagine the shape of her dreams.

• Twiggers at In Debt Because I Like Nice Things has started a three part series on selling your stuff. Those of you thinking about starting fresh must read her exhaustive and helpful tips for sorting through your past life.

• Young Black and Prosperous has hit a new milestone: she’s engaged! And she has the best savings plan ever for affording a wedding. Who cares how long it takes? They’re smart, young and in love.

• Benjamin at Trees Full of Money offers planning tips to those expecting a new baby. Sort of a “What to Expect” for the PF community.

Enjoy the editor’s picks this week, but don’t stop there! Each category listed below features wonderful writing, thought-provoking articles and fabulous financial tips. It’s been an absolute pleasure hosting this week and I hope you enjoy the rest of the articles. Read on for more of this week’s best of PF blogging.

BUDGETING
My two cents: It’s never too late, or too early, to start a budget. If you’ve been thinking about it, today’s the day to start! And here’s some inspiration.

• The Happy Rock has a pretty good breakdown of his financial hole. It’s interesting to read and compare strategies. I personally was shocked at the cost of day care!

• Christine at Blue Jeans Millionaire does a great job of explaining all the factors to consider when choosing a health care plan. Wow, she’s through. And smart.

• Pasadena Financial Planner recommends a few budgeting systems for you.

• Curt at PennyJobs.com gives us tips for creating a budget.

• Bob at Platinum Years Network wonders why we’re so sensitive to some kinds of spending, and so careless about others?

• Jason, the Healthcare Economist, reviews a new budget tool.

• Brice at Save and Conquer shares some details about corporate budgeting.

CREDIT
Up to your eyeballs in credit card debt? Figure out a plan to pay it back and start living again. For those starting out on their repayment journeys, here are a few great resources.

• My Credit Card Blog offers an overview of the best credit reward programs.

• Money Blue Book offers an intriguing overview of how credit card numbers are created.

• Dana at Not Made of Money breaks out of the credit card loop.

• Ask Mr. Credit Card gives his take on why store credit can be a bad idea.

DEBT

• Can I Get Rich on a Salary investigates a woman who won’t pay off her debts.

ECONOMY
The news has been bad lately, hasn’t it? Our economy is due for a renewal, I think…

• Nina at Queercents posts a thought-provoking piece on life in the exurbs.

• Tim at Canadian Dream asks: Will high priced oil change the way business works in the future?

• Emily at Taking Charge is finding the real world a little scary right now, and notes that consumers are cutting back on spending.

FINANCE

• Anthoney at Help My Cash Grow notes that personal finance is all about attitude.

• J. Money’s biggest financial vice is…bananas?

• JS at Smart Money Daily shares the stories of billionaires.

• MoneyMonks asks: Which would you prefer?

FRUGALITY
Lookng to reinvent yourself? Read about those who have discovered the benefits of the frugal life.

• Blunt Money wonders if people who say “I have everything I need” ever really mean it.

• Funny About Money notes the perks to living a rural lifestyle.

• Chief Family Officer writes about coupon problems. Oh how we love to clip and save!

• Passive Family Income just got a cashback credit card for gasoline. Interesting concept.

• Sallie’s Niece figures she spend $900 on Gyros, and she’s done with ‘em!

• Brooke at Dollar Frugal is totally right about obsolescence.

• GradGirl finds a good use, and a good cause, for old bridesmaid dresses. Awesome!

• Ashley from Wide Open Wallet reviews the inspiring “Go Green, Live Rich.”

• Jamie at Cheap Healthy Good gives us three frugal rules she breaks, and three she lives by.

• Finance Gets Personal sells some books on Amazon.

• Sean at Financial Ramblings gives us a great overview of auto insurance. (I’ll be using this next week, when I buy mine!)

INVESTING
This is where I’d like to grow my knowledge. Maybe the Budgeting Babe will someday become a Dividends Diva!

• Kyle at Amateur Asset Allocator asks, “Do stocks get less risky with time?”

• The Dividend Guy spends some time reflecting on the fundaments of investing.

• BrianMounts.com announces his monthly stock and ETF selections.

• Andy at Saving to Invest reminds us to teach kids about investing.

• MoneyNing wants us to keep investing, despite the news.

• Megan at Counting My Pennies tells why the ladies need to step up their investing game.

• Dividend Growth Investor analyzes AT&T.

• Dividends4Life analyzes Eli Lily.

• David at Make Cash Online Today is talking about FOREX trading robots, whatever those are.

• I’m Not Cheap, I’m Fiscally Concerned is never watching CNBC again. Ever.

MONEY MANAGEMENT
Great advice here for those in search of a renewal of balance.

• Living Almost Large ponders living large.

• Aaryn at Sound Money Matters reminds us why we need a will.

• Shannon at Saving Advice reveals her secrets to success.

• Broke Grad Student shares why he hates cash.

• Free From Broke deals with financial problems with loved ones.

• Ron at The Wisdom Journal gives us 10 Commitments You Should Make for Your Own Financial Success… how wise!

• The Financial Blogger tells us how to find a good financial advisor.

• DJ at the Family Wallet shares details about insurance needs when you have a new baby.

• RC at Think Your Way to Wealth offers tips for moving to the next financial level.

• Madison at My Dollar Plan shares advice for your mid-year money check-up.

REAL ESTATE
Buying property? Then you’re in the midst of a financial reinvention! Read on and support your new goals.

• Cheap as Chips helps us avoid the rental crisis.

• Journey2Retirement asks: Is now a good time to buy a house?

RETIREMENT
For the ultimate rebirth: The day when you leave work behind and do what you’ve always dreamed of with your free time.

• Henry at InsureBlog has the true story of one woman’s retirement planning dilemna, and how difficult it is to “get it right.”

• Clint at Accumululating Money tells us how to retire comfortably with a Roth IRA.

• Jay at Personal Finance Hacks compares 401k plans.

• Dan at Everyday Finance looks at 401 asset allocation and shows what you can do to protect your nest egg.

• Daniel at A Financial Life asks: How much do you save for retirement?

SAVING
It might not be a big deal for anyone else, but the day I opened a savings account with direct deposit was the day my life changed.

• Jim at Financial Blueprint opened an HSBC savings account.

• Sun’s Financial Diary finds a savings account with 4.7% APY (!).

SPENDING
Renewal is about a commitment to a larger goal, and baby steps help you get there. Cutting back on spending is one of those baby steps.

• Lisa at Greener Pastures writes, “How are you affected by the power of suggestion? The answer might surprise you.”

• Bob at Christian Finances and Debt Help shares a cool tool to help spend safely.

• Shana at Smart Easy Money is spending her stimulus check, and won’t miss it.

• Preet at Where Does All My Money Go says smoking a pack a day costs you… millions.

• Our Fourpence Worth resists the urge to splurge.

• Dorian, The Personal Financier, shares why buying groceries online is the way to go.

• One Frugal Girl avoids full retail prices for 30 days…can she do it?

• Tanesha at Personal Financial Analyst shares her love of Netflix.

• …while Money Smart Life analyzes Blockbuster’s Total Access Pass.

TAXES

• BeThisWay wants to know where his sales tax holiday is this year. Sales tax holiday? Are you kidding? Where do I sign up?

• Free Money Finance tells us how to hire a good tax professional.

TRAVEL
Because we’re all in need of a good summer vacation to feel refreshed and renewed, I opened up a new category. It’s a little self-serving for me, but I eat these articles up!

• Mighty Bargain Hunter scouts out newer, sneakier ways airlines give you a walletectomy.

• I really appreciated this article by Student Scrooge on airline miles. Given all my travel issues lately, I found it very informative.

And that rounds out this week’s edition! If you didn’t make it in this week’s edition, it’s likely due to the cut-off time I had to implement this evening in order for me to get some work in. Your submissions will be considered for next week’s Carnival.

I hope you all have a fabulous week, and if you’re new to The Budgeting Babe, be sure to check me out from time to time.

Thanks to Flexo for being such an amazing PF steward. You rock.

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Here are some of my most helpful how-to posts. If you’re just starting out, these might inspire you to learn more. Enjoy!

Welcome!
This is the post that started it all. A manifesto of sorts.

Credit 201
All you ever wanted to know about how your credit card actually works.

Free Credit Reports
Get yours here.

Lost Wallet?
Really, who hasn’t lost it at least once? Here’s what to do about it.

Student Loan Consolidation
One of my most popular posts.

Grad School Dreamin’
A few thoughts on furthering your education.

CD’s: Not what you think
An investment basic.

Shopping Addiction
Pretty self explanatory.

Health Expenses and Flex Spending
I got braces at the age of 24. This saved me a lot of money.

Determine Your Net Worth
One of the best aspects of a PF regime is watching your net worth grow. Learn how to figure it out here.

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Meet a few of my favorite budgeting friends: browse around, post comments and build your financial knowledge base. Join our beautiful budgeting revolution.

BUDGETING BABES
Beachgirl’s Budget Blog
Birds and Bills
Boston Gal’s Open Wallet
City Girl’s Financial Blog
Clutter2Cash
CT Mom’s Family Financials
Divine on a Dime
Fiscal Responsibility
Frugal for Life
Give Me Back My Five Bucks
Mapgirl’s Fiscal Challenge
Money and Values
Ms. Money Blog
My Financial Goal
Penny Foolish
Savvy Saver
Smart Easy Money
Today’s Budget
Udandi

BUDGETING DUOS
Make Love, Not Debt
Tired But Happy

BUDGETING BOYS
A Penny Saved
AllThingsFinancial
Broke in the Bay
Canadian Capitalist
Canadian Financial and Consumer Opinons
Finance Mind
Finance News Pro
Five Cent Nickel
Free Money Finance
Grow in Value
It’s Just Money
Molly’s Brother on a Budget
Money and Investing
Neville’s Financial Blog
Okdork.com
PFBlog
Phat Investor
Saving Advice
Simplify My Life
Young Finance Guy

MEET MY FAMILY
OK. These aren’t related to budgeting, but I find them inspiring, just the same.

Becky (International Adoption)
Christine (Professional Photography)

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Phew! I’ve been making changes to the site all day to make it easier to navigate. I’ve been wanting to make these changes for like two years but no one would help me (cough, cough, design school brothers) so I took it on myself. I even took the new header pic of myself! I’m pretty pleased it turned out so well. I wish the menu bar were a little snazzier, but for now, this is the extent of my design skills. I would love your feedback!

As you can see, I’m trying to free up a little room on the site. I’ve been getting a lot of inquiries from potential advertisers and as soon as I can figure out how to set up a contract and payment method, I’m going to open it up. Of course, the ads WILL NOT interfere with the site content or usability. I will be very choiceful about what I put up. That said, after four years of hard work, I’m excited to finally start making some cash to go towards my downpayment!

Monday is the big Carnival of Personal Finance HERE so tune in and help make it a success. If you’re going to submit articles, please get ‘em in by 10 p.m. on Sunday.

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I’ve found all these sites incredibly helpful on my financial journey. Visit them often.

BEST OF THE WEB
Alpha Consumer
Bank Rate
Budget Travel
CNN Money
Credit.com
Daily Cents
Frontline: Credit
Kiplinger
Kobliner
Ms. Money
Queercents
The Nest
USA Today: Financial Diet

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