Archives for November 2013

3 Charities You Should Support This Thanksgiving

First Class Flight On American — First-Class View On American

As I flew home to enjoy the holiday with family, my feeling of privilege couldn’t have been greater. I sat in a cozy first-row seat of first-class on American thanks to a rewards credit card with bonus miles. While the seat may have been “free,” the opportunity was afforded to me.

While my Thanksgiving has been a bit non-traditional, as a number of family members are being asked to work the holiday, I’m fortunate that those around me are healthy and well. Likewise, I’m fortunate to be healthy, temporarily-abled, and to be in graduate school.

With this wonderful privilege, I cannot help wondering how I can give back. As the cheesy line in Spiderman goes:

With great power comes great responsibility. –Stan Lee

Despite being in massive amounts of debt, I decided to donate to 3 special causes. The following are three organizations that I’d ask you to support with me:

1. No Kid Hungry

The actor, Jeff Bridges, has a mission to end child hunger. No Kid Hungry is a charity that’s supported by the actor and helps feed children nationwide. Just $1 of support equals 10 meals for children.

This is the perfect charity to give to this Thanksgiving, as you think about those who may have less. Food is a necessity, and the charity helps aid the people that need it most. Donate here: http://www.nokidhungry.org/

2. Always Remember Never Surrender Scholarship

This is a scholarship endowment that will always be near the top of my list. The Always Remember Never Surrender Scholarship supports undergraduate students in psychology to research, study, and pursue a field that helps prevent suicide. This issue is very dear to me, and I always like to give to help support the educations of others.

Each year, $500 is awarded to a student that applies for the scholarship. You can give to the endowment here: http://www.alwaysrememberscholarship.com

3. American Civil Liberties Union

The ACLU is famous for supporting individual liberties and protecting the most vulnerable people in our society. The famed organization is currently advocating in four major arenas: “Keep America Safe and Free,” “Fair Justice, Smart Justice,” “Defending Targets of Discrimination,” and “Protecting Civil Liberties in a Digital Age.”

The ACLU has long been a champion of freedom, liberty, and social equality. They have a long history of fighting for free speech and empowering minority groups. Please consider giving here: https://www.aclu.org/

The Costs Of Following A Dream

By Frugaling 35 Comments

This is a guest article from Stefanie! She’s trying to find ways to stretch her budget in one of the most expensive cities out there, New York City. A graduate of New York University’s drama and psychology programs at the height of the financial crisis, Stefanie discovered the world of financial planning out of necessity. Thanks for sharing your insight, Stefanie!

For those who don’t know, I am a professional theatre actress. At 27 years old, I’ve never made more than 30k in a year. Most of the time it’s somewhere between ten and twenty thousand; although, I want to say closer to ten. I face frequent and long periods of unemployment. After every job I don’t know when or even IF I will work again (in my field).

I can supplement my income by working in a place that doesn’t interfere with my job search (aka, auditioning, which limits me to service, babysitting, trades show hostessing, bartending, and any other place you’d expect to find a wannabe, or rather, a professional actor). My career also necessitates that I live in one of the most expensive cities in the world which compounds the fiscal strain.

While I’ve found a way to make the financial implications of my chosen career path work for me, the desire for a home, family, stability, etc., makes me question my endurance in living this nomadic and uncertain lifestyle. I see friends and coworkers deferring their other life dreams and continuing to tackle “the grind” at 30, 40, 50, 60, and beyond. And I don’t mean the grind of daily work, I mean the grind of getting up at six AM to stand in line for an audition, run across town to get to the next audition, take what little money there is to buy new headshots or take an acting class, then rush to work at four o’clock and close out at two or three in the morning. It’s the grind of trying to survive on passion.

It’s hard. They said it would be. I knew it would be. The only thing I didn’t count on was the trajectory. In most professions, careers are linear. There may be unexpected setbacks or a change that requires a temporary hardship, but generally speaking, you can progressively work your way up in a logical manner.

In my field, it’s more like riding a rollercoaster. You get a job, it ends, and you start back at square one. To be fair, it’s not quite square one because you develop relationships with people, theatres, and companies every time you work. These experiences are invaluable and have actually gotten me subsequent jobs. But still, you have to start over again, unemployed and waiting in the audition line until that opportunity or a new one arises. There’s no telling if it will be better or worse than the job you had before.

Sure, it’s up to you to choose which offers you accept, but when you’ve been waiting tables for a few months, it’s really tough to turn down that performing job, even if it is in Phoenix, in the middle of the summer, for $300 a week. Plus, you don’t get your health insurance benefits if you don’t meet the 12-work week quota. Sometimes you have to accept a job where you’re essentially LOSING money just to qualify for insurance.

It’s hard to take a step backward, in either pay or prestige, but such are the realities when “living the dream”.

The only way I’ve managed to handle a lifestyle where I have so little control is to empower myself where I can, and financial planning is an excellent way to do it. Knowing the uncertainty of my future, financially and otherwise, I put systems and strategies in place to reach my goals regardless of the “dream” trajectory.

I save diligently, I have a substantial emergency fund, and I’m cultivating my “side hustles” like crazy. Maybe in the future, my other dreams will require me to put this one on the backburner. But for now, while I can, performing is priority number one – even if it means sacrificing a stable income, certain employment, likely advancement, and the benefits that come with all of those things. Some dreams are worth fighting for.

Why Google Wallet Needed To Release An Offline Debit Card

By Frugaling 4 Comments

Last week, I wrote an article bringing attention to the Google Wallet Card. This decision to print and give away a free debit card will usher in a new epoch of payments, banking, and budgeting. But when I finished writing the story, I realized there was a missing piece to all of the current press: Why did Google release an offline debit card in the first place?

Google Wallet was announced in 2011, and released as a smartphone app in September of that year. After over two years of development and company expenditures, critics suggest the experiment has failed:

…Google Wallet is a dud, at least to date, despite the company’s expenditure of an estimated $300 million in real money on its development… (USAToday)

Earlier this year, rumors began swirling that Google would be releasing a physical debit card to be paired with its Wallet service. Unfortunately, ahead of the company’s major press event, Google I/O, they scrapped the release and went back to the drawing board. Despite being considered a “dud” by some analysts, Google Wallet was already beginning to catch on – largely credited to the payment processing of Android apps and Google Play purchases.

Google is already sucking in that purchase data on many fronts — between Google Play payments, Google Checkout on the Web and also advertiser payments — in addition to the dedicated Google Wallet project. (AllThingsD)

On November 20, 2013, Google decided to follow through with the release of a physical debit card (issued with a Mastercard logo). Commentators and speculators suggest that the Google Wallet platform needed to increase users’ payment options. As much of what we buy in stores takes a physical swipe of a card, these stories suggest that the debit card would help pay for physical goods. But tech writers have questioned Google’s decision to enter the physical world:

It’s surprising because Google exists to get people off physical media and into virtual digital everything. They’ve also been a leading force in mobile payments with both Android and Google Wallet. (ComputerWorld)

The persistence of plastic suggests we’re a lot farther than we think from a world where true mobile payments are the norm. (Washington Post)

Thus far, the primary hypothesis seems to center on the idea that Google has admitted to the failure of its online-only payment platform – it’s kowtowing to the payment processing gods and issuing a physical card. These articles and writers don’t give enough credit to this decision or Google’s business acumen. The company is in the payment processing business for the long haul. Much like their advertising platform, which is considered to be the best ad system in the world, payments give vital details about user habits, transactions, and life outside Google. There’s money in that big data and Google is about to start drilling.

With the release of a debit card, Google Wallet is not admitting defeat nor is it suggesting we have a “lot” further to go before mobile payments become the norm. Rather, the Wallet platform is injecting itself into the current psychological modality for purchasing goods for evolution down the road. Users of the product will begin to natively track and spend via the online platform. This will likely cause people to start defaulting to this payment system.

Meanwhile, Google has laid a diverse framework and future for the payment system by interlinking it with Gmail, Google+, and a growing number of online services. Now, you can send money via Gmail, swipe for gas, and receive a payment – instantly and securely. But Google needed a card to segue purchasers to this mobile platform. Eventually, when people are convinced that the online, digital model works better than physical, debit card swipes, Google will win.

Every recent service Google has announced has required a segue from the search model. From Drive to Plus to Wallet, these services have been built-in to a diverse set of products. Drive is now caked into Gmail attachments. Plus is a necessity for YouTube comments. And now, Wallet… Necessary for Google Play purchases and about to grow into another multi-billion dollar industry for Google. Making a physical card was just another segue for Google to make users’ switch to a mobile payment model more seamless.

An era of mobile payments is nearly here. In the next 4 to 5 years, we’ll likely see a massive switch to digital payments. Just like the banking industry today, there will be multiple players and competition. The major difference will be that tech behemoths will compete directly with big banks. What’s clear is that the players that can create a natural blend of on and offline payments now will win later.

Save Money With Mindfulness

By Frugaling 11 Comments

happy-journey-e1373409819100 — Photo: flickr/Stefan Rüdiger

I’m hungry. I’m thirsty. I’m tired.

Just breathe.

My mind is whirling with self-doubt and questions that I need answers to immediately. My day hasn’t gone as planned, and I’m not going to be able to get everything done. There’s a running dialogue – stream of consciousness – and it feels like it cannot stop.

Just breathe.

My heart’s racing on another caffeine trip. I didn’t get enough sleep last night and my mind’s wandering. Unfortunately, I didn’t pack a lunch, either (written prior to Buy Nothing Challenge!). Rather than the norm – guilt – I feel beat from the frugal life.

Frugaling is working. I’m maximizing my budget and minimizing debt. But sometimes, I question the foundation of saving. A monstrosity of nearly $40,000 in loan debt is boring into me. Sometimes progress is like watching grass grow. Ironically, it’s the little decisions that add up.

There’s a convenience store across from work. More than anything, I want to grab a pack of Twizzlers or maybe a donut. It’s what I crave; weird, I know. Sugar and empty calories. There’s seemingly nothing better when you’re training for a marathon. In these moments of reflection, it takes serious willpower, prevention, and mindfulness to trump the convenience.

Writing these lines makes my mouth water in anticipation. Can I please have it? I’ve been working hard all day. I almost feel like I deserve that food. What’s the harm? It’s only $1.99!

Over the last year or so I’ve tried to insert a more meditative, mindful approach to my daily routine. Mindfulness is about really being present and in the moment with the world around you. It comes in handy when I’m hungry, cranky, and tired. I’m better able to feel the emotions, while also realizing they’re just that. Instead of simply stating, “I’m hungry,” I think, “I’m having thoughts of hunger.” Emotions are an endless stock ticker through the head. Changing the shape of your thoughts can powerfully distance yourself from your cravings.

Mindfulness meditation can be immensely powerful at circumventing the normal bustle; yet, in training, it’s frustrating and challenging. As I try to calm my mind, it frequently seems to run rampant and uncontrolled. I breathe again.

Recently, the New York Times featured the power of meditation in developing deeper empathy:

The next time you meditate, know that you’re not just benefiting yourself, you’re also benefiting your neighbors, community members and as-yet-unknown strangers by increasing the odds that you’ll feel their pain when the time comes, and act to lessen it as well.

Meditation and mindfulness don’t just benefit others, though. By becoming more self-aware and awake, it’s easier to save money. Suddenly rash purchases and conceptualized needs don’t seem as important. You can be present for more purchases and better establish the desires versus wants to save money.

As I left work, I peacefully walked by the convenience store; without those red, tempting Twizzlers and $2 richer.

Just breathe.

Archives for November 2013

3 Charities You Should Support This Thanksgiving

1. No Kid Hungry

2. Always Remember Never Surrender Scholarship

3. American Civil Liberties Union

The Costs Of Following A Dream

Why Google Wallet Needed To Release An Offline Debit Card

Save Money With Mindfulness

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Archives for November 2013

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1. No Kid Hungry

2. Always Remember Never Surrender Scholarship

3. American Civil Liberties Union

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