Hey Urbane-ites! Are you frivilously spending those hard earned dollars when you could better utilize them? The "He/She Ain't Got These" movement is wrecking our generation! Stop trying to keep up with the Jones family, when your last name is Smith. This idea of showing how much wealth you have (or don't have) is highly overrated and is leading to an insane amount of 20-somethings living above their means and under a cloud of debt.
Thestreet.com writer Farnoosh Torabi penned a book in early 2008 entitled, "You're So Money": Live Rich Even When You're Not" and it is a perfect example of how to live the fabulous life you've always wanted while staying within a reasonable budget. Now, Ms. Torabi does not reinvent the wheel or come up with any solutions that are better than sliced bread, however she will enlighten you on how to keep the dough in your pocket.
Here are some of her keypoints:
1. Splurge when it makes sense: For example, buy a pair of quality denim like 7 for All Mankind or Diesel. Sure, they may run a few hundred dollars, but you won't have to replace them every six months. With that being said, allow that to be your high ticket item as opposed to buying high-end denim, luxury sweaters, and designer shoes. Pick one. (A lot of the items showcased on this blog are great statement pieces so feel free to choose these items, just don't over-do it!)
2. Take advantage of Early Bird specials: At most establishments with a cover charge, Ladies are in free at least until eleven. So instead of making a not-so-grand entrance with your posse and spending 10-25 dollars to get in, use that cover charge money to pay for your two drinks for the night and arrive before 10:59pm. Or better yet, pre-game prior to the event so as not to pay the exorbitant markup charges. That way if the party is lame (as they often are) you still partied for the free-skie, so no harm no foul!
3. Limit the coffee drinks/dinners out: D.I.Y. This is key! When I was interning in Chicago, every morning on my way to work I stopped at Starbucks to get my daily jolt of caff. At $3 a cup, 5 days a week (some Saturdays too) for twelve weeks, I spent way more than I should have on something so small! This is also true for meals outside of the home, instead of splurging on a forty or fifty dollar meal, get your friends together and plan a potluck and movie night/game night. Same premise: spending time with friends while spending less!
Thestreet.com writer Farnoosh Torabi penned a book in early 2008 entitled, "You're So Money": Live Rich Even When You're Not" and it is a perfect example of how to live the fabulous life you've always wanted while staying within a reasonable budget. Now, Ms. Torabi does not reinvent the wheel or come up with any solutions that are better than sliced bread, however she will enlighten you on how to keep the dough in your pocket.
Here are some of her keypoints:
1. Splurge when it makes sense: For example, buy a pair of quality denim like 7 for All Mankind or Diesel. Sure, they may run a few hundred dollars, but you won't have to replace them every six months. With that being said, allow that to be your high ticket item as opposed to buying high-end denim, luxury sweaters, and designer shoes. Pick one. (A lot of the items showcased on this blog are great statement pieces so feel free to choose these items, just don't over-do it!)
2. Take advantage of Early Bird specials: At most establishments with a cover charge, Ladies are in free at least until eleven. So instead of making a not-so-grand entrance with your posse and spending 10-25 dollars to get in, use that cover charge money to pay for your two drinks for the night and arrive before 10:59pm. Or better yet, pre-game prior to the event so as not to pay the exorbitant markup charges. That way if the party is lame (as they often are) you still partied for the free-skie, so no harm no foul!
3. Limit the coffee drinks/dinners out: D.I.Y. This is key! When I was interning in Chicago, every morning on my way to work I stopped at Starbucks to get my daily jolt of caff. At $3 a cup, 5 days a week (some Saturdays too) for twelve weeks, I spent way more than I should have on something so small! This is also true for meals outside of the home, instead of splurging on a forty or fifty dollar meal, get your friends together and plan a potluck and movie night/game night. Same premise: spending time with friends while spending less!
Take a page out of Farnoosh's book "You're So Money" and continue to live like the urbane ladies and gentlemen you are. PS. Saving money for a rainy day is cool. Don't just save to buy the new XBox. Invest in the stock market or different bonds (especially now) and reap the rewards in the future.
~I.C.~
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