Live Beneath Your Means. The “I’ll pay for it later” mentality is a common pitfall among young adults, according to Danger. “Assuming your paychecks will only get bigger and that paying the bills will be easier when more money is rolling in can get you into big trouble. Always spend less than you earn (aim for living on 80% of what you earn) and your financial future will take care of itself.”

Resist the Urge to Spend. If you’re a new graduate, your first paycheck may be burning a hole in your pocket. “Resist the temptation to go out and treat yourself with big-ticket items,” says Danger. “Let your friends go into debt buying cars they really can’t afford and always carrying the latest designer handbag.” It’s ok to reward yourself for your hard work by buying small pleasures and “realizing that financial security is a bigger luxury than anything you can buy.”

Student Loans. According to official statistics, the average graduate leaves college with about $20,000 in student loans. “It’s a natural urge to want to pay down your student loan as quickly as possible, but if you have a low rate and good terms you may want to re-think,” says Danger. “If you’re able to apply extra to your loan, pay off higher rate debt such as credit cards first. Then, consider investing in something with a higher rate of return to build wealth.” 

Don’t Abuse Credit Cards. In today’s world, getting a credit card is extremely easy. Paying it off isn’t quite so simple. “Having one or two cards to establish credit history is a good idea, but leave it at that,” says Danger. “Many credit card companies target newly minted college graduates with low introductory rates. Read the fine print and make sure that your rate doesn’t skyrocket after the initial introductory period.” 

Young adulthood is an exciting time. You’ve got your entire life ahead of you and minimal obligations.  With systems in place to ensure a good financial footing, be sure to enjoy your money too. Now’s the time to live it up!  

I made it a point to leave my credit/debit cards at home so I wouldn’t be tempted to overspend, but I did bring about $200 in cash, just so I could shop a little or have lunch or whatever we felt like doing. My friend, however, wanted to spend most of the time visiting the different casinos and she was having such a difficult day that none of us had the heart to tell her no. So we all ended up winning and then eventually losing pretty much all the money. I came back home about $120 poorer and with nothing to show for it –Not even a happily full stomach, since I’m on a diet. Turns out I have a lot more control when it comes to food than money. I’m totally proud of myself for the first point and totally ashamed about the second. I mean, I’m old enough to know better, right?

I’ve been feeling really guilty about the whole situation today and keep wondering if this is an indication of the lack of control I seem to have over my finances in general. Do I do this often? Spend money when I know I shouldn’t? Save cents here and there and then throw dollars away without giving it a second thought? I need to sit down and deal with these feelings and ideas at some point, but today they just feel a little overwhelming.

As with many things, it seems the answer is relative.

If you are jotting down something on your notebook as you step out of the office and take a pen with you, is it really stealing? What about taking pens deliberately every time you run out? What if you need an envelope to send something ASAP but there are no office supply stores close-by? Is it the same as taking envelopes EVERY SINGLE TIME you need to go to the post office?

The office where I work allows employees to use their printers, scanners and internet connection for personal and private purposes, even during work hours. So if I bring a letter and print it out there, I’m not stealing ink or paper because I’ve been given the ok to do it. But what about those offices where no permission has been expressly given? Is it stealing to use two pages of white paper to print something for yourself?

I’ve noticed over the years that most people take from their jobs in direct proportion to their level of contentment with their work. People who are happy in their jobs tend to be more respectful of the surroundings in general, while those who hate their bosses or their jobs are more likely to take things as a way to “even out” things.

So… would you take things that are not necessarily yours just to save a few cents? Where do you draw the line regarding personal property?

In my efforts to cut down on expenses, I’ve been looking around for a cheaper gym. Nothing yet in the timeframe I can actually go there to work out. I don’t want to cancel my membership because I’m too lazy to exercise anywhere else BUT a gym, so I need to find an alternative that actually works for me. My contract was up last week, so I’m hoping I’ll get something new in the next couple of days.

I did pretty well with food shopping, though. Spent only $20 and got enough to last me for a week (if added to whatever I already had in my pantry).

Anyway, here are today’s expenses:

• Food (just some cheese I needed) - $3
• Beauty (well, shampoo qualifies as beauty, right?) - $12
• Skype (I use it for long distance calls; WAY cheaper than a regular phone and quality is perfect) - $5 added to my account, which should last me a while

Doesn’t look bad so far, but I need to take my cat to the vet tomorrow, so this is really going to mess up my budget. Seems like there’s always something coming up, right?

This is the breakdown for today:

• $10 – lunch and coffee
• $7 – a few things at the supermarket
• $10 – dog food (I buy good quality food; this is not an area I plan on saving money on)
• $3 – transportation

Not a very bad day, but I ended spending $30 and have very little to show for it. If this is an indication of what I normally do, it’s not a good one.

• Paying $3,829 for a haircut. London stylist Lee Stafford charges this for an exclusive men’s cut done at his home. Champagne included.
• Or dishing out $200,000 for the first G.I. Joe action figure. I mean… really? The original 1970 prototype is owned by a private collector.

• Compared to that, Barbie #1 may seem a bargain at $8,000. Of course, you can also buy the 40^th anniversary Barbie (produced in 1999) for $85,000.
• Anybody who knows me knows I have a weakness for bags. No shoes, no clothes. Just bags. So paying $27,700 for a Fendi bag somehow doesn’t scare me too much. Except that is made of crocodile leather, which seems too cruel to make it worth it.

• William Shakespeare’s signature is the world’s most expensive autograph, which may make sense since there seems to be only six of them in the world, none of them currently for sale. Auction price is estimated at $5,000,000.
• I love cheese. Love it. So much, in fact, that I may be tempted to pay a lot more than “normal” people would for a pound of special cheese. Not this one, though. It’s moose cheese. And it costs $900 a pound. And you have to go to Sweden to buy it.
• And if you thought making movies was expensive, just let me close with this price: $690,000. Sounds too low? Maybe, until you understand that that’s what a private collector paid for a movie POSTER in 2004. A poster. Just paper. It belongs to the 1927 masterpiece, Metropolis, and is one of only four in existence.

Turns out I was wrong.

NYC is in the 13^th spot when it comes to most expensive place to live. Beverly Hills is #15.

So who takes the top places?

Four areas in California, with Atherton at the top (closely followed by Santa Barbara), where the median house price is almost $2.5 million.

Just in case you’re wondering, this is what the average houses in Atherton look like:

That’s a 4 bedroom, 3.5 bathroom home with a theatre room, a billiard room and a heated swimming pool

Also a 4 bedroom, 3.5 bathroom house with pool, spa and large gardens. Also a sunroom, a library and two fireplaces.

Who said a summer party has to cost a fortune? If you’ve been pushing the idea of a get-together because you’re afraid of the financial setback, don’t worry. Not only is it possible to have a fun summer party for next to nothing, it’s probably more fun to plan it this way.

LOCATION

Having a party at home is the easiest and cheapest option if you’re on a budget. “If that isn’t an option, there are affordable alternatives,” says Coupons.com Family Savings Expert Kim Danger. “Local community rooms are often an option.”  This is the best alternative if you are throwing a large party or if you don’t have a backyard.

INVITATIONS

Skip the paper invitations and instead use Evite.com, where you can also send the guests a map with directions and other cool add-ons. Or make a paper invitation yourself using photos, craft paper or your computer.

DECORATIONS

Pick a theme. This will make it easier to set a festive mood without having to spend too much on it. “Candles, plants, Christmas lights, and posters are all great props,” says Danger. You can also try looking in your own yard for some greenery. “Take some cuttings from your bushes, shrubs, and plants and tie with an elegant ribbon or place in a vase.” In a rush? Try the Dollar Store for balloons, streamers and party favors.

FOOD

If money is really tight, make it a potluck. Take charge of the drinks and dessert and ask guests to bring a large dish to share. If you want to do everything on your own, try a buffet. You can mix more expensive items with cheap fillers such as potato salad, steamed veggies and chips and dip. For drinks, offer lots of non-alcoholic beverages to cut expenses (and keep everybody sober!). Offer large pitches of juice or Kool-Aid along with sodas. “Buy soda in 2-liter bottles, beer in kegs, or make a big pitcher of sangria or margaritas,” says Danger.