Monday, February 6, 2017

Check Your Balances

A few weeks ago, I logged into one of my credit card accounts and came across a fraud alert that a couple of transactions had been flagged. I called, they weren't mine, I was not charged for any charges that weren't mine (and confirmed those that were), they issued me a new card and all was well.

Not two weeks later, I noticed another couple fraudulent charges on another card! Called, confirmed they weren't mine (and which were), and I will not be charged.

This hasn't happened to me in years, so I guess it was just a matter of time before I got hit again, but man! That's twice in like 2-3 weeks! One of them I use really infrequently and had I not just used it, I may not have logged in to check my balance for another few weeks!

The other is the one I use most often, so it's not surprising we caught it so soon.

I'm wondering if the post-holiday season has anything to do with this. I wonder if some people don't check their transactions, dreading what they'll see. It is in your best interest for a number of reasons to always know what's going on with your money.

And it's much better that it happened on my credit cards than a debit card. I probably still wouldn't have been liable, but it would take longer to replace those funds in my account.

Seemed like a good reason to post this PSA: check your balances and review your transactions on a regular basis.

I check mine (and pay my credit cards) fairly habitually.  I check my bank account every day. With my frequently used credit cards, I check them at least once a week. With my less frequent cards, I do this whenever they've been used - I am going to start checking all of them once a week now.

If you are experiencing some post-holiday financial hangover, you don't want to make it worse by finding out too late that you've also been a victim of fraud. Oh, and you might want to change a few passwords while you're at it!

We probably (sadly) will never be able to eliminate this kind of fraud from happening. But we can pay enough attention to our money that it's merely an inconvenience instead of a nightmare.

Wednesday, January 25, 2017

My Money, My Mouth and all that

I think about world events and politics every day. Sometimes, I wish I didn't. I'm not trying to turn this into a political blog, but I did want to talk about how I'm thinking about my personal finances in connection with my personal politics.

I simply do not have a lot of money to give. I am working on where to spend more time on the issues that matter most to me, but I'm not jumping into anything just yet.

There are a lot of non-profits and PACs that interest me. So what I've decided to do is give to one organization per month. 

I used to let my Giving category in my budget accrue and then give a larger sum when the impulse strikes. But the impulse strikes all the time now!

If there's an event or something that requires a larger amount, I will use funds from another category (theatre tickets, clothing or fun money), but at least 12 different organizations will get at least something from me this year. I'm keeping a running tally now that I've made my January donation.

I also try to shop with companies that may not necessarily share my views, but at least don't support those people/organizations/parties that I oppose. I hesitate to use the word "boycott," because I have no belief or even really a desire to see those places go out of business (most of the time). It's just that I don't want to give them my money. So far, this hasn't been difficult or even inconvenient. I just don't go to some places.

As always, I will continue to work on shaving the budget where I can to make room for more Giving this year, and in the years to come.

I suppose I do have a political message after all: it's your money, it's your voice. Use them.

Thursday, January 5, 2017

1st Financial Update of 2017

I decided to check out my Net Worth report for 2016. I was beyond thrilled to discover that it's grown by more than $10,000! That doesn't include my 401k, Betterment account or my student loan debt. I only track my cash accounts in YNAB, which is where I ran the report.

I expect it to decrease significantly this year because part of that is saving for a new car, which will be purchased this year and for our NY vacation. Also, I may be planning another vacation later this year so I'm increasing my cash savings to spend it later.

So I'm totally okay with not seeing that kind of increase for 2017, but I'm still pretty happy about it!

I've changed my mind hundreds of times about what I'll do when my car lease is up, but I think I've made up my mind that I'll buy a new hybrid. I thought about buying used, but I think I'd prefer to spend more now so that I won't have to think about buying a replacement for at least a decade. As much as I love having the fully electric Fiat now, I want the flexibility of a hybrid. I've got a price in mind that I'm fairly sure is doable and while I'll still have to borrow some, I want it paid off in 5 years max, but I hope to do so in 3.

I've already paid for flights and theatre tickets for NY and have enough saved for food and other recreation. I'd like to get in at least one more show while I'm there, but I will see what's available on TodayTix (use referral code FAGSL for $10 off).

Not sure if I've mentioned here, but Sylvia is currently working on a cruise ship. If she does a second contract, Riley and I will probably take a cruise so I'm starting to save for that.

I also really want to get my student loan debt down. While the interest rate is low, the balance barely seems to move and the site currently says I won't pay it off for another 7 years, and I've been paying it for about 10 now! Enough already! I'll make a more concrete goal once I get the car situation under control, but for now, I'm throwing an extra $100/mo towards it.

I'm also starting to save for Riley's senior year. We've been foregoing on pictures, yearbooks, dances, etc. with the understanding that she'll do it all her senior year...which is next school year, OMG. We recently decided that she'll finish out her junior year before she gets a job, since this is the hardest academic year. She knows that means she won't get a driver's license or anything like that until after she starts earning her own money towards it. Her only "job" right now is to start looking for scholarships.

She's picked her dream school. It's not the most expensive, but it's not the cheapest either. We still don't have anything put away for that, but she's prepared to take on most of that responsibility herself. Mostly, that's next year's problem.

So all in all, 2016 was fairly successful, financially speaking!

Monday, September 19, 2016

Self-Care; Unmarried & Single Americans Week

Yes, it's that time of year again! And this article has some fascinating facts and figures that make me believe every year, more and more will be celebrating.

To kick this off, I want to start by addressing those who may not be single by choice, or wouldn't call themselves happily single.

For whatever reason, you're single at this moment, and this is your life right now so embrace it. Here are some ideas on how to take care of you.

Take time to do what you love. I'd be hard-pressed to find anyone, even among the happiest couples I know, that don't have certain activities or hobbies that don't interest their partner/spouse/whatever you want to call them. Whether it's binge-watching a certain TV show, hiking, the opera, even dancing around your living room... you can enjoy freely, and without that feeling that the other is just tolerating it. If these activities take place outside of your home, consider doing them solo. Personally, I love belting while making dinner, picking a show to binge-watch on weekends, and I have a few shows coming up where I've just bought one ticket.

Take care of your money. I sleep so much better knowing that I have a plan in place that's working for me. Of course, I'm far away from most of my financial goals, but I'm moving in the right direction. I know how it feels to not have a plan, too. It's incredibly empowering to know I'm taking care of my money.

Re-think your home.  To be clear, I don't mean spending lots of money on this, but take another look at where furniture, pictures and knick-knacks live. Sometimes, there may be only one or two lay-outs that make sense in the space, but a re-configuring of treasured items may help you appreciate them anew...or you may prefer empty space there instead now. Coming home should feel inviting, and if it doesn't, consider what changes could be made that would make it so.

Define (or re-define) your goals. Plan your future as if you'll always be single. You may or may not be, but again, this is your life right now. Are there classes you've been meaning to take to advance your career? Is there another career path that you want to research? If you're closer to retirement, have you thought about what that would look like? Figure out the small steps you can start taking today to live the future you want tomorrow. Writing the book and the upcoming workshop both came from thinking about this.

Connect/re-connect with your friends. Be forewarned: if you've dropped friends for a relationship, some may not be anxious to re-connect without at least calling you out on this. If that's the case, honor their feelings. I still don't see as many of my friends as often as I'd like, but I enjoy it whenever I do. Especially if it's some quality one-on-one time together over lunch or dinner. I actually prefer that over seeing shows or movies with friends - where talking to each other is the main activity. There's one friend in particular I have a standing lunch appointment once a month. It's always something I look forward to, it's always a good conversation, and I just always feel good after spending time with her.

Biologically, we are each whole all by ourselves.

I definitely went through a period soon after my divorce where being alone completely terrified me, so I do get it. But once I accepted my single status, I was able to start thinking about me and my life and what I could do to make it better. We have so little control over so much of the world, and many of us are responsible for the care of others, but often feel like no one is taking care of us...and that's because as adults, we are responsible for our own care. Whether single or coupled, take that responsibility seriously. I'm pretty sure you'll find yourself well worth the effort!

Monday, September 12, 2016

9 Year Blogiversary - Announcement!

I'm holding a workshop in October on single parent budgeting. This will be in Burbank (L.A. area) on October 5 and I hope you can join me! I loved writing the eBook, but I really want to help people IRL, too!

My 9-year Blogiversary seemed a fitting time to announce this to any readers I have left :)
You can RSVP by emailing me (admccaffery at gmail). In case you can't read the attached, if you want to earn a gold star, please track your spending for about a week before the workshop and bring that with you.

Hope to see you there!

Monday, August 29, 2016

Homework-Free Election Night

I went to my daughter's Back to School Night and lobbied the Principal, Vice Principal and all of her teachers to consider giving no homework on Election Night (with the possible exception of a US History/Government teacher assigning the homework of watching Election Night results). I was pleased that everyone seemed on board with the idea and surprised that the most enthusiastic response came from the AP Chemistry teacher, since his class is the most intense.

While it should apply for the mid-term elections too, I think we'll meet less resistance this year in particular since we'll have a new President no matter what. I think it's also appealing to the teachers, since they probably want to watch, too.

Since most probably haven't had their Back to School Night yet, I encourage parents to take advantage of that opportunity to ask the teachers and administrators to consider no homework on Election Night. I will also be following up with an email in a few weeks.

Of course, this isn't just to give adults the night off. I will be requiring my daughter to watch with me. In addition to discussing the electoral college, here in California, we'll be discussing propositions, and keeping an eye on the results for the House and Senate. My daughter has also been watching The West Wing with me, so she's particularly interested in U.S. government and politics. That (and Hamilton, of course) have already given us many opportunities to discuss issues, so I think she's actually looking forward to it, too!

I hope you'll join us in educating our families about the political process and ensuring that our children look forward to the civic responsibilities of voting in the future. I believe that no homework on Election Night is a small step in raising (or at least, not decreasing) voter turn-out for elections to come.

Tuesday, August 16, 2016

Balancing Wants v Needs - or not

I heard an interesting concept on the HerMoney podcast: that wants may be needs after all. Author Sarah Newcomb makes the argument that what we normally refer to as "wants" are really meeting fundamental needs.

Thinking about this through my own budget lens, my Theatre Tix category comes to mind. Do I need to see Hamilton? I would joke that yes, yes I do, but of course, that's an exaggeration. But thinking about it, planning for it, imagining it when I listen to the cast fulfills my needs for participation, leisure, creation, identity and freedom.

So maybe, when looking at the categories where you tend to overindulge, ask yourself, "what need(s) does this satisfy? Are there other ways I can create that satisfaction?" And bonus: coming up with new ways to minimize these expenses will also satisfy your fundamental need for creativity!

Some people, for instance, won't listen to cast recordings until after they've seen a show. I prefer to spend $10-20 on a cast recording before I shell out hundreds for tickets to see if it's something that interests me. I tend to meet friends for lunch instead of dinner to save both time and money. Lunches are cheaper than dinners or even drinks sometimes, and it doesn't interfere with my schedule for picking up Riley after work.  I don't subscribe to music services because I have enough in my iTunes and Amazon Prime libraries to keep the music varied without another monthly bill. (Plus, I still listen to Hamilton more than half the time, anyway!)

If this sounds daunting, remember two things:

1) We adapt all the time. Technologically alone, we all try new things on a regular basis. Instead of thinking of this as a sacrifice, think of it as an adaptation.

2) This is an opportunity to get more of what you want: you get your needs met, plus you get to save money for other needs/wants.

And hey, when you come up with solutions and plop down the $$ for that "want", you can honestly say to yourself, "I need this!"