10 Bitch Tips for Getting Your Financial Life Together NICole lapin
Let’s just go ahead and acknowledge it: people can be really nasty to ambitious woman. As Jessica Miller Merrel writes, "When women are confident, calm, and educated, they are often seen as trouble." If you speak your mind, you’re called a bitch. If you don’t take shit from anyone, you’re called a bitch. If you aren’t afraid to go for what you want, you’re called a bitch. If you are empowered about your money and the life you want, you’re called a bitch. If you demand respect, you’re called a bitch.
Let me be clear. Being a Rich Bitch is good. (Rich Bitches are the good kinda bitches, like Glenda in The Wizard of Oz, not the bad bitches like the Wicked Witch of the West.) It’s about empowerment. It’s about taking control.
Being a Rich Bitch means going after what you want in life by getting the financial part in order. Because let’s be honest: you need money to live the life you want. My mission is to make you so financially fit that you’re confident to call yourself a Rich Bitch.
What follows are 11 easy tips that will help you on your path towards being a Rich Bitch and achieving your financial goals.
1. * Get your credit score (aka FICO score) You’ve probably seen a ton of gimmicks—catchy commercials or random pop-up ads or a ton of confusing, seemingly official sites when you do a Google search for “credit report.” But there is only one that offers truly free reports. Uno. One. It’s www. annualcreditreport.com. * BONUS: If you apply for a loan, you can ask the lender for a copy of the report and FICO score they pulled, so you don’t have to pay for them yourself.
2. Chill on the big purchases (like a big-screen TV or new computer) Chill on the big purchases (like a big-screen TV or new computer) and don't open any new lines of credit for several months before you try to refinance or get a mortgage. It could screw with your credit score and lead to a higher interest rate.
3. Buy a used car. New cars depreciate 15-20% the second you drive them off the lot. And, they lose 70% of their value in the first four years.
4. Buy cars at the end of the month. Lots of car dealerships work on a quota system, meaning that they have to sell a certain number of cars every month. In the last days of the month, the dealership will have greater incentive to knock down the price in order to move vehicles off the lot and meet their quota.
5. Walk-ins rock. Are you in between health insurance plans? Even if you're not, make friends with walk-in clinics. It’s cheap, quick and easy. You don’t need an appointment. You just show up—so you don’t have to deal with those middle- of-the-day times when you have to drop everything because your doctor can squeeze you in.
6. be a debit devotee Debit cards make bookkeeping easier because you can see exactly what you are spending on a cash basis every month. This will go straight into the outflow section of your balance sheet*/cash flow* statement since it's coming from money you have. A credit card bill, on the other hand, will have two steps accounting for the interest. That is, the things you pay for with credit cards are listed out as expenditures and then re- totaled with interest factored in.
7. Put your stock blinders on Stocks will drive you crazy if you watch them every day, and will cause you grief if you let them...especially if you fall in love with them. There's an old finance saying: "Falling in love is always expensive." If you can stomach the volatility and possibility of getting your heart broken, "own" investments.
8. Everything is negotiable. And you never know unless you try. You should always, always negotiate the interest rate you get on your credit cards, and any late fees you may incur. Never take the APR of interest rate offered as set in stone, it's not.
9. Get your boss to pay your bills See if you can get your boss to pay some of your bills. Do your employers require you to be available on your cell during off hours? That's a good reason to ask them to help pay for your phone bill. Do you bring your personal laptop into the office for work? Ask about that too. If your employers won't help you pay for it, you might be able to write whatever item you're using for work off on your taxes.
10. 401(k) matching Many 401(k)’s allow you to contribute up to 15% of your salary until you reach the cap, but there’s nothing that says you have to contribute that much. It’s ideal to put in at least as much as your employer will match, typically 5% or 6%, so you reap the benefit of that “free money.”