{Week 6 Check In} 52 Week Money Challenge Bingo Style!!

Published on February 7, 2014April 4, 2014 by Danielle YB Vason10 Comments

It’s Friday and your weekly reminder to make your deposit toward your 52 Week Money Challenge. At the end of your 52 weeks, you have an extra $1300.00+ to use however you decide. I do it every Friday and I urge you to do so. The more consistent you are in the beginning the more likely you are to be successful doing it. I completed the challenge last year, which helped me to pay down my credit card balance, as well as, pay for holiday gifts. We are on week six of 2014 and I have used my savings to continue to pay down my credit card debt (just like last year). So far I have saved $99.00, every bit counts, and I am less than six months away from a zero balance on my credit card. If you would like my BINGO style sheet, email me with SUBJECT: SMC Bingo Style Sheet.

What are you saving for?

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{SMC Giveaway} Fabulous Cha-Ching Money Purse!!!

Published on January 2, 2014February 24, 2014 by Danielle YB Vason3 Comments

Hello lovelies and welcome to a New Year. In celebration of the wonderful changes and resolutions that will actually happen this year (fingers crossed), I want to reward YOU, the readers of SMC, with a small token of my appreciation. To enter the giveaway, please “share” your favorite SMC post (hint hint… the share buttons are located on the bottom of this post) with the hashtag #shemakescents and leave a cool comment below telling me one financial goals for the new year. One lucky winner will have the choice between being Pretty In Pink or Chic in Black. Good Luck!

Fine Print: The giveaway begins on Thursday, January 2, 2014 and all entries must be received by Saturday, February 1st, 2014 at midnight (EST). The winner will be chosen at random and announced on SheMakesCents.com on Friday, February 7, 2014.

Which Do You Like Best? Black or Pink?

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{Hello 2014} January Photo-A-Day Challenge

Published on December 31, 2013February 24, 2014 by Danielle YB Vason3 Comments

Lights. Camera. Action!

Hello lovelies! It’s time for you to grab your cameras and join our January photo challenge. I am really looking forward to seeing everyone’s Day 24 pictures featuring their 52 Week Money Challenge (Bingo Remix) and the progress you all are making toward your financial goals in the new year. Want to join me for the challenge? Use #shemakescents and #photoaday when uploading to instagram, twitter, & facebook!

Use hashtag #shemakescents and #photoaday

Which Do Use Most? Instagram, Twitter, or Facebook?

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{Money & Friendships} How to Take the Eek Out of Splitting Costs with Friends

Published on December 17, 2013January 13, 2014 by Danielle YB Vason2 Comments

Gone are the days of six girlfriends splitting the cost of a hotel suite for spring break. If you haven’t realized it, we are now adults and we have new…more grown up financial dilemmas. I have never been one who is weird about money and friends, but I know people who dare not mix the two. I get it; I myself have been burned by the combination, more so from splitting checks than from lending money. Which is why I have to ask myself, how do you take the eek out of splitting bills with friends? Yes, girlfriend, your I.O.U is denied!

Know the Correct Price of the Total Bill

The operative words in this section are CORRECT and TOTAL. It is very easy for people to use lazy math when figuring out who owns what. For example, every time I go to a concert with a group, one person always ends up purchasing all the tickets to make sure that we all get seats together. If concert tickets are $90.00 a pop and everyone pays $90.00 to that lucky friend who pulled the short end of the stick, then that friend is actually losing money. Why, you ask? Well, lets just say the circle of friends used lazy math that did not include taxes and convenience fees. That $90.00 ticket comes with a $16.95 convenience fee, and $7.00 in taxes, multiplied times all four friends, equals no bueno for the one who put it on their card and almost $100.00 of unpaid money.

Cash is King

There is nothing more uncomfortable than getting a restaurant bill and trying to figure out who had the two crab cakes, who got a salad, and who just ordered a glass of wine. Do you split the bill evenly among the people at the table or are guests responsible for their own food? What happens when the payment options include a credit card, debit card, gift card, Groupon, and cash? To take the eek out of splitting the bill and saving your server his or her patience, I suggest making plan for payment clear when getting a group together. Start by letting people know if there is a minimum per person or suggest that everyone brings cash because the restaurant does not split checks. Doing this in advance helps people prepare. Wouldn’t you rather people remember how fun catching up with friends was and not how people where counting money in the corner to make sure that the bill (with tip) was paid.

There’s An App for That!

Okay, so there is an app for everything and now technology has caught up to this uncomfortable scenario. You can now deposit checks with the click of a camera and pay someone back with an email. The options are endless and the excuses are no longer valid. In a post for Daily Muse, Emily Nickerson shares what she refers to as 5 Genius Apps for Splitting Bills with Friends. According to Nickerson, “there are a bunch of great apps that do the calculating—and in some cases even the communicating—for you”. I can only image the number of people who lose out on their money because they don’t want to have that uncomfortable conversation. Of the apps listed, I must say I enjoy the ease of Splitwise… and it’s FREE!

What is Your Experience Splitting Costs with Friends?

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{Woman To Watch} Abi Ferrin

Published on November 25, 2013August 13, 2016 by Danielle YB VasonLeave a comment

Meet Abi Ferrin!

Fashion Cents She Makes Cents Abi Ferrin is a fashion designer, humanitarian, a woman who uses her “cents” to ignite awareness in global issues and define what that success means to her… oh and did I mention that she is our November Woman to Watch (#w2w). She defines success as “a moving target”, explains Ferrin in an email interview with She Makes Cents. ABI FERRIN, the company, is the versatile and sophisticated fashion brand that offers easy-to-care-for fabrics providing a chic solution for women of all ages and body types; remember the 5- Way Nikki Dress? Each of her Made in the U.S.A. garments feature hand-crafted adornments made by women rescued from the sex trade and other forms of abusive employment in Nepal and Cambodia. Ferrin adds, “My idea of what [success] is always moves ahead, so I can never seem to quite feel like I am there yet. Ten years ago the company I have created today would be a huge success in my mind, but now that I am here I have so much more I want to do! I think being successful is an ongoing project, measured by reaching certain benchmarks along the way. If you can see that you are impacting people’s lives in a positive way as a result of your daily existence and making a difference in this world, then you are successful”. Yes, there are plenty of successful women to watch in business, but it is Ferrin’s impact on others that I find compelling.

About the Freedom Project

The Freedom Project is the branch of Ferrin’s business that focuses on giving back by incorporating vendor businesses that are created for and by marginalized people. For example, all of the buttons and most accessories are from Sak Saum in Cambodia, which rescues, restores and rehabilitates trafficked people. These people then become a part of the Sak Saum business once they are healthy, and as a vendor she gets to be a part of supporting their ongoing success and empowerment through their own efforts and responsibility! Ferrin explains, “Freedom is the most important thing to me. I knew I wanted my fashion company to have substance that went past making people look good. I wanted to empower women to step up their daily style and feel good about themselves, while still living their lives”. Congrats Abi Ferrin for being our November Woman to Watch.

For more information about The Freedom Project, please visit www.abiferrin.com or www.saksaum.com.

Let’s Be Social!

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{Living Paycheck to Paycheck} Are You Working for the Weekend or Living for Payday?

Published on November 14, 2013November 13, 2013 by Danielle YB Vason1 Comment

{Every Woman Should Know} How Much You Should Tip

Published on October 21, 2013February 27, 2017 by Danielle YB Vason3 Comments

pizza-margherita-2 Everyone has a different tipping policy, which was clear from the vibrant discussion on the SMC Facebook page. I for one will always tip, even if the service is terrible. When going out, always try to remember to keep cash on hand and your budget in mind. What does that mean? It means you need to consider the tip, parking fees, and any other areas where you will come out-of-pocket when you consider treating yourself and/or others. It may sound severe, but if you cannot afford to properly tip, then you probably cannot afford to eat at that restaurant or upgrade that massage.

Tipping Cheat Sheet

{Lifestyle} Tipping at a Restaurant: a minimum of 15% pre tax

{Lifestyle} Valet Parking: $2- $5 once your car is returned. Even if valet service is complimentary, you should still tip.

{Style Cents} Manicurist, Aestheticians (for facials), Masseuse, & Waxer : 15%.

Anna Sui - Backstage - Fall 2013 Mercedes-Benz Fashion Week

{Style Cents} Hair Stylist: 15-20%. You should ask for the tip to be split among those who served you.

{Travel Cents} Hotel Staff: $1 per bag for bringing luggage to your room (but a $2 minimum if you have just one bag).

{Travel Cents} Uber: Uber drivers don’t expect the customer to tip them because there’s 20% gratuity included in the fare. However, if you want to tip on top of the 20%, by all means.

Do You Tip Even If the Service is Bad?

Finance Blogger, Danielle YB Vason of She Makes Cents, reveals her motivation to pay off debt.

{Debt Management} How to Shorten the Length of Your Loans & Reduce Interest

Published on September 10, 2013April 3, 2014 by Danielle YB Vason10 Comments

Wanting to get control of your finances is great, but there is nothing like the empowering feeling of knowing when this MAJOR life goal could actually be attainable. After examining my debts, pay off amounts, and interest rates, I am proud to announce that my magic number is 8 years and 3 months to be debt free! Having an end date for a goal helps to make it more tangible and keeps me encouraged to hit my payment milestones from my personalized Financial Plan.

One Year from Now- Operation Credit Card

In January of this year, I revealed that I racked up $5300.00 in credit card debt, after getting it down to a zero balance. It happened by not adapting my spending habits to my drop in income. Today, that balance is now around $3400.00 by paying a little more every month on the minimum and doing the 52 Week Money Challenge (Bingo Style). Dare I say it out loud, I will have NO credit card debt by this time next year (insert fireworks here)! I’m truly proud of the way I have tackled this particular debt obstacle because I’m doing it at my own speed. I don’t even miss the extra money that I’m using to knock the balance down faster. If I were okay with just paying the minimum, it would take me 4 years and 3 months, instead of one year, to complete step one of my financial plan. Once the credit card is paid off, my monthly credit card payments will become extra payments to my student loans and so on…this is called the Snowball Method.

Four and a Half Years from Now- Goodbye Sallie Mae

I have a love/hate relationship with Sallie Mae. Although we go back about ten years, she is not my friend nor is she yours. Don’t let her fool you. Yes, in times of financial need, she was there but in reality most people end up paying more than double for their educational loans. Currently, I pay the minimum $200 per month for my educational loans with more money being applied toward interest and not the principal. As I’m sure you know, paying just the minimum and nothing more will result in years and years of interest and a longer pay off timeline. In fact, by adding the money I would normally use for Operation Credit Card to make two or three lump sum payments per year toward the principle, not interest, I will shorten the length of my loan by 10 years and 11 months. Five years ago, I was a recent college graduate and while a lot has happened in that time, I still feel like time flew by. Knowing that these next five years could go by just as quickly helps keep me motivated. One day, four and a half years from today, I will be able to say goodbye to my financial frienemy- Sallie Mae for good.

Eight Years and Three Months- Debt Free

A lot can happen in eight plus years that could slow down my timeline or cause me to come up with a new goal altogether. Regardless of what life throws my way, I hope a victorious sprint toward financial freedom is in my foreseeable future. In eight years, my home will be a rental property providing is a great form of passive income. Having it completely paid off allows a greater financial contribution to my household. The idea of never having to think about another mortgage payment for my current house is a blessing in itself and I plan on tackling this debt by using the Snowball Method. In the same breath that I say goodbye to Sallie Mae, I will be begin this last phase by saying hello to extra payments, consisting of my monthly credit card payments and Sallie Mae payments, on top of my current mortgage.

What’s the point of all of this? Sure, I could continue to pay the minimum on my bills every month and I will forever owe someone but I have 17,636 reasons why that won’t work for me. Yep, having a plan and attacking my plan will help me save an overall of $17,635.15 in interest payments. While yes, I am at the beginning of my journey, I take solace in knowing there is light at the end of the tunnel.

How Long Will It Take You to Be Debt Free?

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{Financial Cents} Are You Broke on Payday?

Published on June 6, 2013January 20, 2017 by Danielle YB Vason2 Comments

broke-on-payday It’s the weekend baby (or close enough) and for some of you that also means PAYDAY! A joyous day that, in theory, represents the culmination of your hard work. Regardless of your income, this is the day when you get the funds to take care of all the things in your life that need funding. So what happens when you get paid and you are already broke? Not broke, as in oh I have a hundred-dollar bill in the back pocket of that pair of skinny jeans, but more like, how I am going to afford the gas to get to work and eat once I’m there? For some of you this is a baffling predicament to be in and for others, this may very well be your reality. I know a woman, Carrie*, who just got paid today and is already broke. Having past due bills is her norm, she is struggling to stay afloat, and her zero balance checking account doesn’t help. From talking to her, I gathered that she is overwhelmed with her situation, feels alone, and wonders how something that is supposed to represent the culmination of your hard work is worth nothing. I often find in situations like this that it is very difficult for people to truly see how their actions may have an effect on their current situation. For those of you that are underpaid that is one thing, but for those of you who overspend, that’s another. Carrie wants the fab life but refuses to take some necessary steps to get it by overspending on wants and needs.

Naked, Bossy, & Freaky = Better Money Management!

Get Financially Naked: Being honest about your financial situation is like being naked in a crowd of strangers. You can’t fake it until they make in this situation if you are stripped down. You have to acknowledge that your financial situation represents more than money. It could be the manifestation of your mental state. Carrie feels alone and is overwhelmed. Maybe there is extra baggage/clutter in her life that is cluttering her thoughts and behaviors? Is this true for you too? Being honest with yourself will help you to recognize the problem so you can begin to create a solution. Are you complacent in your current job situation? Is it keeping you from finding your calling or a better income? It is scary and uncomfortable, but if you are serious about getting back on track, it’s time to strip and understand how a change in mindset can help improve your financial situation.

Get Bossy: Tell Your Money Where to Go. I believe the reason that people don’t like to hear the word “budget” is because they associate it with “sacrifice”. I, on the other hand, associate the same word with being financially empowered. My favorite financial quote comes from John Maxwell who maintains, “a budget is telling your money where to go instead of wondering where it went”. In one of my earlier posts, How to Make A Budget, I suggested you start by listing your sources of income and then create a list of your monthly Fixed Expenses ( i.e. Mortgage/Rent, Car Payments, Insurance, Emergency Fund) and your Variable Expenses (Utilities, Groceries, Gas, Food, Entertainment). If your expenses are more than your income, then it is time to make a realistic budget and decide if you would rather make a temporary sacrifice of luxuries say cable or weekly salon visits, or the comfort of knowing that you won’t be broke next pay-day.

Get Freaky: Neat freaks are the new cool… think Martha Stewart, not Mommy Dearest. It’s easy to forget about a bill when you never opened it in the first place, throw it in your purse, or simply ignore it. I stay organized in a few ways. For one, I keep a record of all of my service providers and current balance on the due date in the monthly view page of my calendar. If I need to check on a bill, I look there first. It is a way to see if my bills are increasing or decreasing and paid for the month. It also helps me figure out how I can best schedule payment. I also keep online records to stay organize and paper copies of any bill that requires disputing. For those documents that need paper copies, I have designated ONE place for them.

What is your best tip for Carrie*? Share below.