Category Archives: personal finance

Financial health day

As I was reading the nytimes.com coverage of Sarah Palin’s resignation, something else caught my eye: this column. It’s about a NYT employee who took an entire day to tackle all the financial things we put off, such as changing phone plans to save money and finding a savings account with a higher interest rate. This guy also needed to draw up a will, even though he’s been a father for over three years (helloooo, irresponsible–but at least he admits it’s pathetic).

He hoped his efforts would offset the 5 percent pay cut he had to take this year. Although he fell short of that goal, he wrote, “I got enough done that I now plan to take a fiscal health day at least once a year, 10 hours on a weekday when all phone lines and financial institutions are open, with no interruptions except for e-mail.”

Doesn’t this sound like a smart idea, even if it might make for the most annoying, boring day ever? I don’t know if I could deal with customer service reps for 10 hours straight, but I usually do end up using at least part of my days off to clear up mistakes on bills. (I swear I’m billed incorrectly practically every time I use my health insurance.) I mean, how annoying is it that these offices are only open during business hours? Who wants to haggle over a medical bill during their lunch hour while your coworkers can’t help but listen? No. Thanks.

When do you guys deal with these financial annoyances? Would you ever devote an entire day to it?

Why am I doing this?

The first post of a blog is always the toughest, so I’ll just lay out my reasons for starting this site. I’m a saver: Always have been, always will be (hopefully). But I get the feeling that I could be doing more, saving smarter, spending less. That feeling was amplified when I moved to Manhattan two years ago to work in publishing. Yes, live in Manhattan, work in publishing. In other words, I’d be considered a financial success if I didn’t go bankrupt in six months. Well, I’m not bankrupt, but I don’t feel like a huge success either.

So this blog has a few purposes:

  1. To help me be more aware of my spending habits. If I put it in writing, maybe that will shock me into being a smarter spender.
  2. To learn more about the intimidating aspects of personal finance and share what I find out with you, dear readers. CDs, 401(k)s, buying a home—the things you know are considered “good,” but that seem to be masked in a language that’s impossible to understand.
  3. To practice writing. I write for work, but not every day. I blog here and there for other sites, but I want to have real ownership of a site. And if I’m going to practice writing, I might as well take on a topic that’s challenging for me to put into words: finance.

I’m not a financial expert; I’m just a firm believer in learning from my own mistakes and those of others. I hope you feel the same way, and that you’ll learn from me and leave some comments so I can learn from you. Welcome!