New York City Archives

I Am Stefanie OConnell, Founder Of The Broke And Beautiful Life, And This Is How I Work

My grandparents were storytellers. I could sit down with any of them and become engrossed in their words. I loved their insight, experience, and thoughtfulness. That love of learning about others continues, and now I’ve been spending some time interviewing the best of the personal finance community (like the founders of Budgets Are Sexy and Modest Money).

Surprisingly, it’s a tight-knit group of writers and financial experts. Some are certified financial planners, while others (like me) are experts in another field. The latter feel like the Supermen of the personal finance world: regular employees by day, financial bloggers by night.

Today, I have the privilege of interviewing one of the top financial bloggers, Stefanie O’Connell from The Broke and Beautiful Life. Her work has been featured around the top personal finance sites, and even on Frugaling. Here’s my interview with her:

What inspired you to begin TheBrokeAndBeautifulLife.com?

Oh, lots of things:

I spent the first several years of my acting career on tour where we would get a per diem for housing, food, and other day-to-day expenses. My goal was not only to live entirely off that modest allowance (rather than dipping into my salary), but also, to save as much of the per diem as possible. Unemployment is an inevitable reality in the acting world. Every job ends, I knew that going in, so I prepared accordingly. By implementing this strategy, I learned lots of ways to scrimp and save that I felt I should share.
Some actors are terrible with their money. I knew it would make for an uncomfortable working environment if I walked up to them and told them they were being stupid with their spending, so I decided to write about it instead.
I heard so many stories about actors in Broadway shows who were left with zero savings when the show closed because they had inflated their lifestyle so much during that time. (The minimum salary for an actor in a Broadway show is $1,807/week; yep, that’s some serious spending).

All in all, I just wanted to spread financial literacy in the acting community. If anyone needs to know how to budget well and make money last, it’s actors.

How did people (friends, family, etc.) react when you first started?

I’m not really sure. I think people may have been skeptical because they knew I was a “theatre person.” I don’t think anyone ever expected me to make a career writing about money.

What was your experience with design, code, web work prior to starting your site?

The Broke And Beautiful Life Screenshot Website — *Screenshot of TheBrokeAndBeautifulLife.com*

Zero! I started out on a free blogger template. After toying around with that for a year I decided to get a logo, hire a designer for the site, and setup self-hosting. As soon as I made that financial commitment to the blog, I suddenly felt committed to myself as a business owner–I needed to make the investment worthwhile.

What advice would you give to those thinking about starting their own site?

Two things:

Define what you want from creating your own website. Are you looking to start a business? Are you looking to have a hobby? Do you want to use it as a portal to market yourself or your service? Are you looking to make a lot of money? Clarifying your goal for the site will help guide a lot of your initial decision making.
Embrace your YOU. When I decided to transition to a self-hosted site, I hired a blog coach to help me figure out where I wanted to go with it. After talking to her for five minutes she said, “I’ve read through your entire site and I didn’t know until just now that you were an actor.” I had been afraid to pigeonhole myself and make myself irrelevant to non-artists, but the truth is, it’s my perspective and experience as an actor that sets me apart from all the other finance sites out there. Heck, that’s why I started writing in the first place!

How do you make money from your site?

While I make a fair amount of money blogging, it’s mostly from freelance writing (hire Stefanie!). My blog has served as a kind of active, online portfolio/resume to get me jobs writing for other websites.

Going forward, I’d like to generate more from the site itself through affiliate income and direct advertising. I’ve got a little bit of that going on now, but maximizing that earning potential is definitely my next big goal.

What do you think you’ve learned from your readers and fans?

I am a huge fan of alternative perspectives. Reading through the comments on each of my posts is always exciting and enlightening. I truly value the different opinions I come across, even when I don’t agree.

How can somebody in lower incomes best overcome financial hurdles and prosper?

Everybody has challenges, some of us more so than others, but the steps for overcoming them are universal: S.M.A.R.T. goals coupled with defined action steps. Chances are, you already know what you need to do, as Nike says, “just do it.”

Who are your financial role models?

Honestly, it was Suze Orman who really got me interested in my finances. I read her book, The Money Book for the Young, Fabulous & Broke, and I was hooked; not necessarily because she had some life changing techniques or advice, but because I found her engaging and interesting. That’s what I hope to do with my blog, engage people enough that they want to take control and learn more.

What personal finance sites do you read?

I once tried making a list of all the blogs I read on a regular basis and it just got to be too long. Somewhere between 50-100 (maybe more), and they’re all fantastic in their own way.

What else would you care to share with the readers of Frugaling?

One of the big messages on my site, and one that you’ve undoubtedly heard before, is balance. I’m all about pursuing dreams, while earning income, saving for the future, and living in the present. You can have it all if you’re willing to prioritize. I don’t do the daily latte, but I’m going to Europe next month. It doesn’t feel like a sacrifice when you’re thinking about the big goals.

Want to read more interviews like this one? Read the entire interview series here!

New York City: I Love You

By Frugaling 5 Comments

This week I’ve been spending some serious time exploring New York City. Halfway through, I’m falling in love with this city, and simultaneously realizing that this place might not be for me on any long-term capacity.

There’s a romanticism and history to this city that stirs an inner reflection about where I come from. My great-grandparents came through Ellis Island with droves of others to seek a better future and life for themselves and their children. They came with next to nothing, and New York City was their first open hand for assistance. One of my grandfathers grew up in the city – he still talks about his days playing with friends and going to Columbia University.

Sitting in my travel workstation at the nearest Starbucks, I imagine all those that are joining me here in the city; clicking and clacking away to write a masterpiece, or just a mere blog post. I imagine the start for my grandparents and great-grandparents that often began here in this city of everything.

New York City seems to be a place for connection, and I’m feeling it to my core. The hoards of people aren’t overwhelming and tumultuous; rather, they’re a cacophony of sounds that connect us all. This is what humanity looks like in large numbers, and it’s a beautiful sight. Surprisingly, I’ve loved being surrounded by so many people. Walk down any sidewalk at any point in the day, and you shouldn’t be surprised to find others.

As I drink up all of these wonders and explore the never-ending Central Park, I’m bothered by the city’s powerful emphasis on consumerism. Shiny, glossy, well-lit store fronts are pervasive. They make spending seem appealing, easy. All I want to do is walk around and explore, but in the process, the exposure to advertising and opportunities for purchase are enthralling. Frankly, I’m impressed by the merchandise I see. That spells trouble for my budget.

This city really does have the best of everything. Want to have some of the best French food in America? Go to NYC. How about Thai? Again, try NYC. Want to find a unique, impassioned piece of artwork? You’ll find more than you know what to do with here. Looking for a job in business? This is clearly – still – the epicenter of finance. But it’s not just a home for market makers. Fashion, acting, artists, and writers all can call New York City their home.

As a future psychologist, it’s easy to fall in love with New York City. There are people here that flock to the city and need basic mental and medical care. On any street corner you can see the people of the neighborhoods smiling and chatting each other up. No matter how casual this may be, the community feeling is amazing. You’d think that in this massive populace, something would be lost in connection, but it’s the exact opposite.

I’ve been amazed at the friendliness of New Yorkers. I can walk up to anybody on the street and chat them up. I can ask for directions and great spots, and they’ll all have different suggestions and ideas. People are willing and desiring of connection here. The important difference between New York City and my oh-so-rural place I call home is that people here really make an effort to connect everywhere they go. The local hangouts all seem to be occupied by people that know each other’s names and groups seem to form easily.

The Starbucks I am in is now full. But instead of people standing alone, waiting for tables, they join two-tops and long tables for a congregation of social time, shared. People that have never met before are know conversing and sharing moments – together and in person. It’s easy to love this, and I’ll miss it dearly as I pack up to leave. But, I’ll be happy to be back on my normal budget, too.

How I Earn A Living As An Actress

By Frugaling 33 Comments

How I Make Living as an Actress Money — *Photo: Stefanie*

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!

A couple weeks ago I shared some of the joy and the hardship that comes from my career as an actress. Today, I want to share how I earn a “living.” And by that I mean, quite literally, how I afford to live when I’m not working in “the business,” or when I’m being grossly underpaid, or when I don’t know how long it will be until I book my next gig.

In order to keep my days free for auditions and my schedule open for performance opportunities, I avoid jobs in the traditional 9-5 realm and focus on what many in the personal finance world call “side hustles.” My so-called “hustles” have ranged from being a trade show hostess at Comic Con to administering the musical theatre department at the New York Film Academy.

But my goal today isn’t to indulge you in crazy stories from my various gigs (maybe another time), but to share how I built and maintain an arsenal of side hustle options for whenever I need an income boost.

The conventional route of applying for jobs has never earned me enough to get by. Instead, my personal and life skills have served me most in making a living. Here are my top 5 recommendations to anyone trying to do the same.

1. Be a Nice Person

I could have also called this point “networking,” but there’s something inherently impersonal and limiting about that word to me. I’ve found that when you do your best to be a good person to everyone you come in contact with – in business or your personal life – opportunities follow.

In my five short years with the professional world, I’ve gotten countless jobs – in the industry and on the side – from relationships I have built with people personally and professionally. You never know where opportunities will come from. Be good, do good, and watch it come back to you.

2. Add Value

My biggest source of freelance writing work comes from people who have found or read my blog, not from the applications and proposals I send out. I do my best to contribute value in every facet of my life – online, among friends, or in a professional setting. When people see that I have some level of expertise to offer, I automatically become a resource which may lead to a future job opportunity.

3. Talk About It

I got my job at New York Film Academy two weeks after talking to friends about my unemployment benefits running out. I wasn’t asking around for jobs (though I don’t think that’s a bad idea as you’ll see in my next point). Quite simply, I talked openly about what was going on in my life.

Rather than being embarrassed or ashamed of unemployment or tight finances, being forthcoming can put you at the front of someone’s mind when an extra income opportunity arises. I get texts from friends all the time about babysitting gigs – my sittercity profile never saw that much action.

4. Ask

I have gotten side hustles from Facebook statuses – no joke! Don’t be afraid to put yourself out there or simply ask what’s out there, as you’ll never know what you might find.

5. Deliver

For goodness sake, when you get an opportunity (income, volunteer, or otherwise), work hard and put in the effort. Be prompt and professional, no matter how casual the setting. If you overdeliver, you’re practically guaranteed a future gig or recommendation.

What tactics have you used or found most valuable when looking for work or extra income opportunities? How do you make your living?

I Am Stefanie OConnell, Founder Of The Broke And Beautiful Life, And This Is How I Work

What inspired you to begin TheBrokeAndBeautifulLife.com?

How did people (friends, family, etc.) react when you first started?

What was your experience with design, code, web work prior to starting your site?