A New Job and New Concerns

Wow, what a journey it's been these past 2 1/2 years! I started this blog in August 2019, shortly before I started a humble free course from Springboard called "Intro to User Experience Design." Now, 2 years and 9 months later, I started a new job working in tech. The job is a perfect match for what I was trained to do. My schedule is a bit different than my old "day job," and the pay is much better. Hopefully after a few months I'll be back on track and won't have to worry about debt anymore. I'm on my way to Learning Gold Can Stay for real! So, um... now what do I do?

I still feel anxiety over my spending. The anxiety hasn't really gone away yet. I was so busy building my UX design portfolio and interviewing that I still haven't worked through the exercises in The Financial Anxiety Solution Workbook by Lindsay Bryan-Podvin. That is on my list of things to do. What are some of the things I fear?

Being raised in an environment of scarcity, then moving to sufficiency or even abundance, brings its own challenges. There are so many judgments involved. True, compared to the 1%, I'm still poor haha! But when some family and friends have the mindset like it's easier for a camel to get through the eye of a needle than a rich person to get into the kingdom, it doesn't make it easy to share your news. At a time when I want to go out and celebrate, I've been keeping this recent success quiet. Well, in reality I just got over covid, so I'm still a bit in quarantine-mode rather than party-mode.

Also, I've (unintentionally) dated two millionaires in my past, and I remember how having money changed things. (Unfortunately they were both the uber-frugal type of millionaire haha! Actually my most generous boyfriend lived in a trailer after a messy divorce, far from millionaire status.) Anyway, there were times where we really didn't know who our true friends were. If we wanted to go to a concert, but couple so-n-so couldn't afford to go, then the only way we could have their company was to treat them by buying their tickets. Always awkward. I haven't seen that movie Friends with Money, maybe I need to watch it.

Really, most of my friends & family have been happy for me, only one judgmental comment so far. Probably my harshest judgments come from within. I fear how having money will change me.

Another concern is where to save and invest. I need to educate myself! This blog has traced some of my learning journey, but lately I'm suffering from information overload and don't have a clear idea of where to turn and whose advice to take. The economy feels so precarious now, no investment seems that great. Even real estate, which I like, carries risks from weird storms, floods, freak tornadoes in areas that didn't get tornadoes before, etc.

Have you ever experienced a change in circumstances financially? How did you cope with it?

P.S. I don't dread Mondays anymore! Not that I'd ever say it's my favorite day of the week, but I at least look forward to them now.

Is everybody broke lately? or is it just me?

Greetings everyone, hope you're well! Since I last wrote, I got a couple more professional certificates in a UX Design-related field. I've been going on interviews off and on for the past couple of months.

Meanwhile, I've been eating into my savings with the higher costs of living. After all the progress I made with learning about finances and writing this blog, I feel like I've backtracked somewhat in the past year. At least I'm able to identify the issues more quickly this time.

More later, not that anyone reads this but the bots. One day maybe I'll share it.

So, what do you think? Do you feel you've had to make adjustments to your budget or your spending in the past year?

Best wishes!

The Podcast Playlist that Helped Me Beat Debt

Here's an article that I wrote that I unsucessfully pitched to a finance magazine. Normally I would've persisted and tried other magazines, but I'm taking online classes at the moment and only have so much mental bandwidth as they say. But I miss this blog! so here's a nice freebie for you today, no subscription necessary :)

The Podcast Playlist that Helped Me Beat Debt, by The Finance Phobe

One ordinary, groggy Monday in my cubicle, I was jolted by my friend's cheery Instagram post: Monday, favorite day of the week. Wow, I thought with a mix of admiration and jealousy, how do you get a life like that?

I wanted time freedom, tired of working full-time just to pay bills. My dream was to turn my favorite side hustle into my main source of income and support myself with a flexible schedule. A cash cushion would help me through the transition. But sadly I was a statistic, part of the 40% of Americans without the cash to cover a $400 emergency expense. What could I do?

I knew all the tips and tricks to save money but couldn't make them stick. Why was I constantly going in and out of debt and struggling to save?

I searched financial independence in my podcast app and started to listen. Here are the 4 steps that helped me make over my money mindset.

Step One: Take a look in the mirror

Mind Money Balance With Financial Therapist Lindsay Bryan-Podvin, Episode 08: Understand the Four Money Archetypes

This peppy, approachable episode is a good introduction before doing a deep dive. It explores four underlying core beliefs that can influence our spending habits and overall relationship with money.

(To learn more: Afford Anything with Paula Pant, Episode 127: Four Unhealthy Attitudes Towards Money -- with Dr. Brad Klontz, Financial Therapist) 

Step Two: Learn about cause and effect

Radical Personal Finance with Joshua Sheats, Episode 372: The Power of Cause and Effect

This episode asks the hard self-exam questions, for example, am I in debt due to a health event or chronic overspending? Am I not earning enough because of my skill level? Is my personality holding me back at work? I made notes in a T-chart when I listened to this episode, with eye-opening results.

Step Three: Discover my style

Choose FI by The Unstuck Network (hosted by Jonathan Mendonsa and Brad Barrett), Episode 134R: Quit Like a Millionaire | Kristy Shen and Bryce Leung

Kristy’s story of her climb out of deep poverty suggests financial independence is for anyone. Curious, I got Kristy and Bryce’s book from the library. It revealed the root of my struggle was trying to apply advice geared towards Optimizers, or savers, when I have the mindset of someone who’d rather side hustle than save her way to financial health.

Step Four: Chart my path

Afford Anything with Paula Pant, Episode 215: The Seven Stages of Financial Independence, with Joshua Sheats

By clearly defining the steps to financial independence, this episode helped me focus on the basics without being distracted by advice meant for the financially advanced. Taking one step at a time, I could happily build my emergency fund without being intimidated by stock tips and crypto clickbait (note to self, maybe skip that at any stage!)

Good news and bad news

I only have 10 minutes to write this on my lunch break (live update of why time freedom is one of my big personal and financial goals). Let’s tackle the bad news first. Even though FinconX was free and remote, I didn’t attend this year.

Whaaat? after wanting to for so long? I even downloaded a VPN so I could attend truly anonymously, haha! I signed up as the Finance Phobe. So what happened?

You may have read that I’m studying UX Design. So the good news is, I attended a virtual design conference on the same day, as myself, and I joined the group’s online design community. No screen names, just real me joining a community that will hopefully lead to me getting a better job before quarantine ends! When quarantine ends, I do not want to be in my current day-job-but-it-gives-me-health-insurance situation with barely any time freedom. Right now I’m practicing intense gratitude, trying not to be spoiled, feeling guilty for being safe at home, and trying to appreciate just having a job and every little thing I have.

Only 10 minutes. Anyway, Millie magazine (a new financial publication that just came out in print, though I read it digitally) just recommended a book by Jennifer Risher, We Need to Talk, A Memoir About Wealth. I plan to read it soon. It made me think wow, I wonder how it would feel to not have a constant state of worry about money?

Related to this, Saturday morning I was thinking about my scarcity upbringing and how it’s shaped me, and it really struck me, I don’t think it’s healthy to be always wanting, not getting. Being in a perpetual state of longing and stuckness is just so, so unhealthy!

I fought this emotion, and finished a YouTube video I was working on for my business channel. And I posted a pretty good but imperfect, edited but unprofessionally unpolished version to the web! A group of teachers is following me for my side hustle and I wanted to post some good content. So there! I posted something, and it wasn’t perfect, but I got moving and did it! Yaaayyy!!

Time’s up! Do you have any dreams deferred?

I'm going to FinCon!

Virtual FinCon, that is. The FinConX 2020 conference starts in 2 days, on Friday Nov. 13.

As I wrote last year in my FinCon FOMO post, FinCon is the world’s largest conference for financial educators and influencers. Their website, finconexpo.com, called the community "a diverse group of ‘money mediapreneurs.’"

Why am I going? Number one reason, because I can! Unfortunately, the in-person event was canceled because of the pandemic. That was likely disappointing for many of the regular attendees. But the organizers resourcefully offered this online event in its place, FinConX. Whether I plan to keep blogging mostly for myself or to blog more openly, I get to learn and get a big dose of positivity. Free education without spending time to travel? That's a win-win!

But I am faced with a decision, whether or not to add this blog to my profile. My dad always says, you don't live in a vacuum. Basically, what you do affects other people. Or, other people can affect you. The accountability of having a public platform isn't something I'm seeking out. If blogs were only meant to be helpful, why do they all have disclaimers in the fine print? I even have one, and this blog isn't monetized at all. Maybe that's a question I could ask the pros.

Are you going to FinConX? See you there!

Prime Day prep and the online shopping experience

Ten days since Prime Day, much-anticipated shopping days for Amazon Prime members. There were sales at competing websites too, so whether or not you’re a Prime member, if you shop online you can relate to this post. How do you approach your shopping on big sale days? Are you an impulse buyer, or a careful planner?

I once scored a 3.5 out of 5 on a Wing It/Plan It Scale personality quiz, where 1 was Wing It and 5 was Plan It. But my planning for Prime Day this year was “on 11.” I spent 2 days planning for it, reading reviews from a wide variety of sites from c|net to SELF Magazine .com to NY Mag’s the Strategist. I was researching household necessities, like a new vacuum cleaner. By the time Prime Day was over, I was pleased with the experience, but felt like my brain was about to burst haha!

From my UX design studies (slow going now with 2020 screen fatigue), I learned something new about online shopping. Have you ever heard of sustainable UX or green UX? Neither had I! It’s talking about trimming down websites with a lot of data that take up a lot of time and energy to search through. After the info overload of Prime Day (try searching for an ingredients list on a product and see how many clicks and how long it takes), I experienced the need for it firsthand. Not to pick on Amazon though, my least favorite shopping experience is on Target .com. There’s soooo much information to wade through, I always try to do it on a device with a bigger screen.

Though I was happy with the outcome of Prime Day, I did have some financial anxiety leading up to it. Right now I’m reading The Financial Anxiety Solution by Lindsay Bryan-Podvin. I love her approach in the book and her podcast, Mind Money Balance. I’ll share my impressions in future posts.

So what do you think, is online shopping enjoyable for you, or stressful?

Hope you and your family are well.

Day by day

The world is in a battle now, saving lives and fighting disease. I am tearfully humbled by the sacrifices of the essential workers, from doctor to cashier. I’m among those isolating, doing our part to flatten the curve as they say but feeling like I’m not really doing anything, and having a weird survivor guilt about it. No monetary donation seems to be enough to cover it.

Besides donations, I am so not caring right now about gold can stay, despite constant headlines about recession in my feed. I appreciate all the acts of kindness and how people are trying to help out in whatever way they can. Urban balcony scenes of entire neighborhoods clapping to thank health care workers, and people making music to cheer others on are so inspiring. Small things help too, like a professional gave me a free 2-week trial of her online courses because she felt it was something she could contribute.

I got some help with the survivor guilt from a podcast, Episode 1024 of So Money with Farnoosh Torabi. The episode was about managing financial stress in a relationship, not where I’d expect to hear about guilt, but it touched on guilt some people feel because their businesses are surviving while others were financially hurt by the downturn. They had guilty feelings about earning money/ charging for their services. Sounds like survivor guilt to me. So it's not just me.

 

TL;DR I’m feeling short on social currency right now, in this new virtual world where it feels like everything. If you see a cute video in your feed of a cute family doing a #stayhome dance challenge, that’s not me. Here’s where I stand in the media world. I write this blog for myself, but try to make it helpful like a real blog haha even though I hid it in Blogger to be anonymous. I mostly use a private Instagram with 60-70 close friends, WhatsApp and Houseparty. Sometimes I make special Instagram accounts for a project/side hustle. Apps I don’t use include Tiktok, Snapchat, Marco Polo, Facebook, Twitter and Pinterest. My LinkedIn has 30+ followers, and my YouTube channel has one tutorial my friends helped me film. Before this crisis (and now when I can) I was studying to be a UX Designer and designing my own AR app. I admire YouTubers who enrich my life with travel videos, skin care tips, product reviews and helpful DIYs, and part of me really wants to join them, but I feel too private to put myself out there.

Social currency is not about numbers though. It’s about meaningful connection.

How do you feel about it? Would you say social currency is the new gold can stay?

Love to all and hopes for your safety.