plonkee money an english-er's thoughts on personal finance

November 30, 2007

a tale of two men – a guest post

Filed under: guest posts,philosophical — plonkee @ 12:00 pm

Guest blogger Ryan Healy is gradually making changes in his own life. Read his story of debt reduction here and subscribe to his feed.

Consider this.

One man lives modestly. He contents himself with simple pleasures: reading, good food, and friendship.

He aspires to live a good life. So he finds fulfilling work and pursues those things he is passionate about.

In all this, he earns some money, spends some money, and saves some money. He avoids using credit.

Thirty years later, this man is healthy, happy, and content. He has saved enough to live comfortably and continue doing those things he loves.

Another man lives extravagantly. He indulges in luxury: fancy cars, big houses, and beautiful women.

He desires to be noticed. So he finds a high-profile corporate job and does not what he loves, but what will provide him with the biggest paycheck.

In all this, he earns a lot of money, spends even more, and saves nothing. He uses credit and carries a balance.

Thirty years later, this man is unhealthy, unhappy, and discontent. He has no savings. He continues working in a job he doesn’t like so he can keep his creditors at bay.

The lives of these two men are vastly different. What made the difference?

One man sought no public approval; only a life of simple pleasures. In the end, he found what he was looking for and was glad of it.

The other sought to be noticed. He filled himself on the fruit of pride. But pride was no easy master; it drove him to excess. In the end, he was financially and emotionally ruined.

The lives of these two men are instructive if you will but take a moment for self-reflection. You follow their patterns to one degree or another. And so you must ask yourself, “What master am I serving?”

How you answer that question will tell you much about your future and what changes you might need to make.

November 29, 2007

save money on your trip to DC: prudent financial planning – a guest post

Filed under: frugal,guest posts — plonkee @ 12:00 pm

A guest post from the wonderful Mrs. Micah who blogs about finance and life. If When you enjoy this post, consider subscribing to her feed.

Since Plonkee’s visiting DC this week, I thought it would be appropriate to make my guest post about DC. DC’s a great place to visit. It doesn’t have to be expensive…the best way to save money is to prepare ahead of time.

Here’s some tips from a DC girl, kind of long but I hope it’s helpful.

Use the metro not cabs!

The good news is that the bizarre “zone” system is gone. Now DC cabs run on meters like everyone else and a two-block trip won’t cost some crazy amount. But don’t use them. And renting a car will kill you with parking fees and DC traffic. Plus, there’ve been enough carjackings in DC that I wouldn’t want to drive downtown.

Use the Metrorail system; it’s much cheaper and takes you almost everywhere. Before you come, print out a map from the WMATA site. This is the classic system map It doesn’t overlay the streets, but it gives you a pretty good idea of where things are. You can also buy maps in DC which go into more detail about streets and stations.

If you have internet access while in DC, consider also using the handy trip planner to help you figure out where you’re going.

When it comes to metro fares, DC has two options which would be good for plonkee.
The first is the 7-day short trip pass. During “peak hours” 5:30-9:30am and 3-7pm on weekdays, it’ll cover any trip up to $2.20. That works for most trips you’d want to take, I don’t think I’ve ever traveled farther than that.

And outside those hours, you can go as far as you want. It’s good for 7 consecutive days. If you go farther than $2.20 will take you, you have to put in additional fare (keep some coins on you!!) at the kiosks right before the exit. Cost: $22.00. I’d recommend using this one and keeping a bit of change on hand just in case.

Or you can use the 7-day unlimited pass. Go wherever you want whenever you want and never add money. It costs $32.50. Good buy if you don’t want to keep change on hand or if you’re in a hurry. Or you’re just making lots of really long trips.

If you want a day pass, they sell those for $6.50, and you can go anywhere for a day. Better buy if you’re only in town for less than 4 days (3 days = $19.50; 4 days = $26.00). From 4 days on, you want the short trip card.

You can buy all these kinds of passes in any metro station farecard machine. Just select the pass option and pick the one you want. Most will accept credit cards, but if the machine’s connection isn’t working it may only take cash. Stupid machine.

And now a little warning about the DC metro system: allow extra time. Hopefully you won’t be in a rush because you’re a tourist. The Red line has particularly sucked in the last few weeks and some bad stuff has been happening on the outer limits of the Blue and Orange lines.

Oh, and for the love of everything you hold dear—the left side of the escalator is for walking. The right side is for riding. It’s very simple. I’m sure plonkee’s fine at this, but DC tourists can lead to some real traffic jams. DC residents will already be in a bad mood from the metro delays and won’t be happy with you.

If you want, you can do all your touring for free!

All the National Gallery and Smithsonian branches (that I know of) are free! The National Archives are free! The Botanical Gardens are free! The National Mall (not a shopping center) is free! The Library of Congress is free! The National Zoo is free! The Capitol building and White House are free! The monuments are free!

Most of these places offer free tours, though check their sites for more details of when they’re offered. And in some places like the Capitol and the White House, you have to be on a tour–national security and all that. (And I’m not sure you can get on a White House tour without scheduling it ahead of time….it seems confusing. But there’s a visitors’ center, anyway.)

The Old Post Office Building is now a food court, but the tower is really cool and it feels so full of history. There’s free tours of the tower. And the building gives you a great understanding of Terry Pratchett’s Going Postal!

National Geographic has a site with a huge list of things you can see free. It’s much too long to copy here. Don’t forget to check and make sure the hours are still the same ones they list.

Basically, there’s a lot of free stuff to see. Take advantage of it. Then you can visit places like the spy museum–which looks fun but costs $16 for a normal adult.
And sometimes, it’s nice just to walk around and enjoy the history.

Fine (and not-so-fine) Dining: where it gets expensive!

If you’re in the downtown area, where all the important buildings and monuments are, you’ll find a mix of cafes and restaurants. I’m sorry to say that I don’t really eat there, but I know there’s a number of places. Most of these are higher-end. And museum food is really expensive, so don’t do it!

One chain I enjoy is Chipotle–it offers reasonably priced burritos and such. They’re absolutely delicious and it’s much higher-end than a fast-food place, but it’s also good for someone on a budget.

Silver Spring, Maryland offers lots of good options, most within an easy walk of the Red line Metro station. Their city’s site has dozens listed.

Georgetown’s site has a handy feature which lets you sort by price (as well as cuisine and features).

Rosslyn, VA (part of Arlington) doesn’t have as many, but there’s still quite a few. Note, I’d recommend Cafe Asia as a good one, I’ve actually been there! Most of them are within easy walking distance of the Rosslyn Metro station (Orange and Blue lines).

These are the “good” areas of town. If you venture into my area, I can’t guarantee much—not even a good diner.

DC has food options for every budget—though the food tends towards being expensive. It’s just a matter of finding them. And, of course, you can stick with a simple appetizer at a higher-end place or split an entree/appetizer if you’re traveling with someone.

If your hotel room has a microwave, consider saving money by buying microwave meals and eating in. Or have half of last night’s dinner if you’ve got a fridge to store it in. Then eat out for lunch, which is less expensive overall. Don’t forget these standard PF tips while traveling.

So while you’re in DC:

  • Travel cheap—walk and use a 7-day metro pass.
  • Tour cheap—seriously, you can spend 7 days sightseeing and not pay a dime. Or spend your money on a few things you really want to see and do the rest for free.
  • Eat… well, you can eat cheap but it’s not always easy outside of fast food. Just do your best on the other stuff and save your money for this. Maybe if I ate out more I’d be more help. Clever Dude recommends the Chinatown Express for big portions and low prices. I like Chipotle.
  • Stay. I didn’t cover this in the post because I know very little about it. Consider alternatives like hostels and house/apartment swapping. Also, make sure your hotel isn’t too far from a metro station. Otherwise you’ll have to ride the bus, get a bus pass, or walk. Long walks in DC can be nice, but not at night in some parts. So distance from the station may mean you’ll be paying some cab or bus fare which you could have otherwise avoided.

And have fun! There’s lots to see and do in DC, I hope you enjoy it!

November 28, 2007

motivation – and where to find it – a guest post

Filed under: guest posts,philosophical — plonkee @ 12:00 pm

Today’s guest post is from fellow m-network member paidtwice over at I’ve paid for it twice already… where she blogs about her progress in snowflaking her way out of debt. If you like this post (which you will) why not subscribe to her feed.

One of the biggest ways I personally have found to be successful in managing my money is to know myself. And in knowing myself, know what types of things are motivating for me versus what types of things discourage me. What is one woman’s motivation is another woman’s downfall, after all. That’s why there can be so many different financial gurus giving their own personal spin on basically the same types of advice, and be a market and an audience for a good number of them.

A healthy dose of reality is essential for all of us, but if all that reality does is depress us and keep us from moving forward, there’s no reason to wallow in it. For some, a constant reminder of how far they have to go is motivating. For some, it is defeating. Know yourself and which you are, and be true to it. You’ll make much more progress that way.

My motivation comes in micro-goals, and it took me a while to figure that out. I know my overall picture, but I don’t spend a lot of time focusing on it. $30,000 in debt is a whole lot and the number is so large as to seem unreal to me. But breaking that number into smaller micro-goals works to keep me motivated and focused on the overall goal without setting me up for depression and anxiety. I focus on one debt at a time, and just think about reducing that total while paying the minimums elsewhere. That, of course, reduces the overall total as well, but until I got dangerously close to getting under that $30,000 mark, I really didn’t give that big number much thought. And once I am under it, I’ll stop thinking about the total again until it hovers near $20,000.

I also work at making small changes. Those small changes add up to a big difference, but I simply focus on the small changes. I don’t try to figure out ways to apply an extra $1000 to debt. Or even an extra $100. I find ways over and over again to apply an extra $10 here, and extra $20 there, and over the course of a month that adds up to more than I ever imagined.

Small things motivate me. Large things overwhelm me. I’ve learned to not ignore the big picture, but to not completely focus on it and focus on the small things I feel I can accomplish, and let the big picture take care of itself.

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