How Do I Love Thee? Let Me Count the Ways...

Saturday marked an auspicious occasion for me - the first Valentine's Day in recent history on which I actually had a boyfriend! So, naturally, I wanted to do something special. I've never been a fan of prix-fixe menus, "catch of the day" and "free glass of champagne with our tasting extravaganza"s...I just find in general you don't necessarily get what you want, the food on the special menu is lower quality and higher-priced, and free cheap sparkling wine is not going to make anything worth my while! With the downturned economy, my already-downturned finances, and the impossibility of getting decent restaurant reservations in New York City, I turned to another approach: DIY.
I love to cook. I'm no great chef, but I am fond of delicious ingredients, inventive pairings, and trying new, creative things. So, I hightailed it over to Fairway on Broadway and 76th and filled my cart.
Here's what was on the menu:

Smoked Oysters ($2)
Tartines of fig, pesto and melted chevre (only thing purchased was the cheese, $4)

Salad of mixed greens and herbs, orange pepper, apricot, blackberries and roasted almonds with citrus ginger dressing ($8 but I had the almonds and dressing)

Sesame encrusted tuna steaks with wasabi scallion mayonnaise and coconut jasmine rice ($12)
Green beans almondine ($3)

Assorted fine chocolates ($8)

Chianti Classico ($16)

Total = $53

Granted, I already had several of the ingredients in my cupboard, but this was a gourmet meal (if I do say so myself!!) and most memorable!
Of course, my sweetie brought champagne, fresh strawberries, and even more delicious chocolates, so we were hardly scrimping.
Still, I'd be hard pressed to find a better meal (and better ambiance!).
Kisses were dispensed free of charge...

Credit Where Credit is Due...

So, last weekend, I bit the bullet and obtained copies of my FICO score and all three credit reports! Go, soon-to-be-financially savvy woman!!!
If I truly confess, this was the first time in my life that I have checked these documents, which is utterly scary. After reading how these three little numbers can influence your life (including lending rates, mortgages, loans, jobs, etc!!) I decided to get serious and face the financial music.
I also learned the difference between the credit score (those magic numbers)and the credit report. Your credit score is derived from information contained in your credit report(s), so it's important to check their accuracy. Reports can contain mistakes such as outdated personal information, to cards you no longer own, missed payments from more than 7 years ago (the statute of limitations; 10 for bankruptcy/chapter 13 info), to frank identity theft! Scary... The good news is that credit scores are FREE to obtain once a year from the following site: www.annualcreditreport.com. Apparently, there are many scam/imposter sites, but this is the only approved one out there.
Now, onto the FICO score, or Fair Isaac Corporation...again, I guess there are three scores, one for each credit bureau (Equifax, Experian, and TransUnion). They can be obtained at www.myfico.com. Unlike the credit reports, these ain't free, but they aren't too costly. I was planning on getting all three, but since Experian is no longer participating (as of February, 2009 when I logged on!), I just went with Equifax. The cost was 15$ per report, but I did an online search for a discount code and lo and behold, found a coupon that gave me 20% off. Nice.
So, after holding my breath, it wasn't as bad as I thought it would be! My credit is good to very good! (at least something had to go right with my finances!).

Here is some valuable information I've gleaned from various sources, mainly The Bible:
1. Check your reports and notify the credit bureaus of any misinformation
2. ALWAYS pay bills on time (more on this later...)
3. Length of credit history matters; along those lines, don't cancel your oldest credit card as it establishes history
4. If your balance is high relative to your limit, this isn't a good thing
5. Don't apply for too many cards all at once

A Change Will Do You Good

Today I finally managed to take ALL my loose change and bring it to the bank for conversion into cold, hard, usable cash.
I started off at Chase, my own branch, but after waiting in line alongside clueless octogenarian clients who prefer to deposit in person rather than brave the ATM, I was told my change was no good; I needed those little plastic coin-holders and could do it all myself, by hand. SIGH. This was not an option.
I went across the street to TD (Broadway and 109th) and lo and behold they have this nifty change machine: simply dump and wait, no sorting required!
They even let you guess the amount to win a prize (let's just say I was off by a sizable margin).
Total: 56$
Awesome.

Broke But Not Broken...

Suddenly, at the dawn of 2009, it became trendy to be frugal. As the world plunged into financial Armageddon, stocks plummeted, assets were liquidated, 5th Avenue came to a standstill, and what was old, borrowed, and on-sale became new again. Which was convenient for me, as my own financial ruin suddenly paled in comparison alongside the decimated retirement funds and billion dollar bailouts (only as of printing, no one is bailing me out, except myself!).

So, here is my story:
I'm a young woman in the heart of Manhattan. I have a lovely apartment and a fantastic, well-paying job (!). So, where's the problem? Well, aside from having a riches to rags childhood and excessively frugal upbringing, the only financial lesson I really took home was "buy on sale"and shop 'til you drop. So, in times of stress, let's be honest, I self-medicated with a bit o' plastic and the sweet smell of tissue and carrier bags! Always on sale, of course. This isn't so bad, you say. We all shop. Heck, all of America has credit card debt. And you're right. My credit card debt is so small, so enviable, and so trivial compared to my colossal school debt. I racked up 6-figure wallet holes during 15 years of post-graduate education on an extremely lucrative career path that I promptly abandoned upon graduation (actually, to be more precise, I dropped out during my fellowship!).
Now I find myself 30-something, single, over-educated, and broke. I have no savings and no retirement plan. I own nothing (which is great in some ways, as I have nothing to lose!), but owe lots.
I know my situation is unique, but I am also sure there are lots of others out there, like myself, struggling under a mountain of financial burdens. If there is one thing I have learned in the last few months when it comes to money matters, it is this: ignorance is not bliss.

So, I've come to share what I've learned, to wax poetic about the latest bargain find, to hear what other financial pearls might be out there, and generally work my way to the top.

As a woman, it isn't always fashionable to talk about money, to want wealth, to read up on the market and mutual funds. Some well-meaning folks have even told me "Don't worry, just marry rich" (are they serious??), to which I'll reply with a quote from the latest must-read book on personal finance: "Prince Charming is not a financial plan." And in the immortal words of Annie Lennox, this sister is doing it for herself.