Etsy engagement rings part 2

Squeeeeee!!!! SO PRETTY!
Photo credit: Marajoyce

The Christmas season is fast coming upon us. With trees and mistletoe comes, inevitably, a slew of Christmas time proposals. A Christmas time proposal might mean snowy romance and glowing lights to some. Eternally budget-minded, for me Christmas engagements mean an important expense at a expensive time of year. 

Couples have varying views on what an engagement ring should be. I knew at the time that H proposed to me that I wanted a pretty, reclaimed ring for under  $300. 

As I've mentioned before on this blog, I'm a huge proponent of hand-crafted engagement rings that use reclaimed materials and semi-precious stones (I ended up finding a beautiful piece featuring a semi-precious stone on eBay for $102). I love the aesthetic of such pieces. Buying such rings has the added benefit of supporting a small business, having greater control over design and, in the case of rings made from reclaimed materials, the benefit of  being environmental friendly and avoiding the ethical muck of blood jewels.

Here is a selection of handcrafted rings for under $200 a piece currently available on Etsy*. 

Moonstone &14k Solid Gold Ring by Ringsland - $149

Photo credit: Ringsland

I LOVE the bezel set and the misty quality of the stone. So pretty!! Ringsland makes some rings to order, so there might be wiggle room on stone size and color. 

2.5ct Cushion Cut Ring , Green Amethyst 
                                                 or Citrine Ring by Baragent- $125.94

Photo credit: Barargent

I could not choose between these two very chic rings featuring cushion cut stones available at Baragent. The company's designs tend towards art deco style and statement pieces, with multi-faceted stones. Almost all designs in the shop fall under the $150 mark, with a few pieces coming in at just over $20.

 Aquamarine Twig Gemstone Ring, Silver by Marajoyce - $153.32 

Photo credit: Marajoyce

I am a fan of the bezel set ring, in large part because it reminds me of ancient Mediterranean jewelry. Most of the designs by Marajoyce have a distinct Roman feel to them, with some pieces featuring real Roman era coins.  This particular ring, in my view, is a bit of a departure from the other designs in the shop, both in its stone color and band width. Many of the pieces are larger statement pieces, multi-colored and many featured. Beautiful, but for my taste, this ring really hits it out of the ball park - just a lovely and peaceful mix of aqua/azure tones paired with a silver, tactile band. 

* I have not purchased any items from these vendors. I just dig the rings.  

One income - let the challenge begin

The sun goes down on my income generating years, for now

We are now officially down to one income. I am, of course, extremely nervous. I have been employed since the age of 13. I have my own money my entire teen and adult life. Now, I have to rely on someone else to parcel out cash to me. Given that I spent most of my last pay cheque preparing Go bags and an emergency pantry, H will be rolling out money to me faster than he might think.

This period is supposed to be temporary for us. I am defending soon and desperately searching for a post-doctoral position. If all goes well, I will have landed a job by January. Still, I've been on 4 interviews already and nothing has stuck. I keep getting offers and new potential employers contact me almost every day, but none of the positions are the right ones. The P.I.s are unfocused, or are looking for someone who can pipette without thinking. While most grad students work for their advisors for a few months after they graduate, this is not an option for me. My bosses are abusive, unproductive and have gotten a taste for free labour. I might feel better about it if my bosses could get off their butts and respond to any of my emails about finishing the paper. That is a drama for another day.

I would be lying if I told you that the thought of me never finding a postdoc position had not occurred to me. My anxiety about this is such that I have started dreaming about P.I.s that have rejected me hugging me. That's messed up, right?

In anycase, whether I am ready or not, whether I want to or not, I am now completely at the mercy of someone else's income and job performance. H is great at what he does, but I've never been in this position before. I bought some almonds and dried mango on the way home today. It occurred to me that I will have rethink every little pit stop like that.

So onward and upward. I planned on this day, but have decided to make the following immediate emergency measures to make life easier. From now until January I will

a) limit restaurant visits

b) enjoy a drink or food when I go out with my friends, but not both

c) I will eat before going over to a friend's, running errands, or attending meetings so as to not have a painful discussion about why I can't get a bite to eat

d) I will not split courses at a restaurant with anyone other than H

e) shop grocery sales

f) be more vigilant about power usage

g) use Skype more often to speak to family and complete post-doc interviews

h) limit the purchase of special drinks i.e. coconut water, skinny water etc.

i) set a budget and list of new clothing items for the Fall/Winter and not stray from it

j) make more $5 meals

k) limit house parties to a single small one in four months

l) still put 10% of whatever H gives me each month into savings :)

Any other ideas? I still have this last semester of tuition to pay :(

The Metropolitan Museum of Art Rooftop bar

I heart art museums and rooftop bars, together at last

As you know, my cash and my time budgets are pretty limited these days. Occasionally, my bosses and the last heaves of my dissertation drive me so nuts, I actually leave my dissertation behind and enjoy a few hours out. I try to make those hours count, because, well they and my dollars are few and far between.

This past week I made those hours and bucks count by visiting the rooftop bar on the top of the Metropolitan Museum of Art. Yup, the museum has a bar...on the roof. It has been there for many, many years and attracts a fair crowd. I was pleasantly surprised, however, to find it was not crowded - just happily full.

As you might expect, the drinks are pricey ($8.50 a beer - hardly a bargain), if you aren't a member you need to donate some amount of the recommended donation to enter. I happen to be a member, but if I wasn't I think I could justify $1 towards entry. The Met, after all, holds huge galas and gets big pay cheques for them...so..I'd be okay with letting Hearst publications and the like pay my remaining $13 donation.

So the drinks are a little pricey, but the view is amazing - Park-wide, 5th avenue - and because the hours are 5:30 pm to 8:00 pm, beautiful sunset views to boot. The Met frequently features an outdoor sculpture exhibit on the roof as well.

Tasty drinks and views

I don't know why I expected the patrons to have attitude or be of the beer pong, blue shirt, black backpack, young trader ilk - but I was pleasantly surprised to find a really friendly and sweet mix of people. No shots, or giggling girls re-enacting Sex in the City, just groups of friends, all ages enjoying the sunset on their way to some other location. The bar had a really nice vibe.

Here how is how you get there. Pay your donation at the main entrance of the Met. Ask a security guard to guide you to the elevators to the bar (hang a left in the main lobby, walk behind the security desk and take an immediate left through two or three galleries and you will reach the elevator bank in about 2 minutes). The bar is open from about April to October, depending on the year - so the Summer offers the longest sunsets, and the Fall offers sparkly city views.

Be forewarned - it is a simple set up. The bar is set up like a backyard wedding bar. There is no food, and it's a $11.50 for a glass of basic red wine. My advice is to sip that wine slowly and wander the perimeter of the roof and wait for the sun to set.

In anycase, it's a lovely location for anyone craving a low key rooftop on which to spend a sunset. You get the same sunset as someone living on 5th avenue, for $1 + the price of a drink, if you are so inclined. It's a lovely way to grab a little piece of fancy schmancy NYC while on a budget.

Awwww shine on little sun. I'll see you tomorrow

Stocking a kitchen for $5 meals

I heart food

Hey All,

Part of learning to live on a budget is learning to spend money in the right places. The "right places" might differ from person to person. For me, and I think for most graduate students in NYC, this spending the money to make a number of cheap meals a week and budgeting to eat in restaurants a few times a month. Even the lowest end food is pretty amazing here. You wouldn't want to live here and miss it.

With that balance in mind, I post the occasional $5 and $10 meals for 2-4 people on this blog. Part of making low cost meals is gradually building a pantry and fridge with basic goods.

It occurred to me that my list of must haves might be useful for anyone cooking $5-10 meals for the first time.

Pantry

Extra Virgin Olive Oil

Good for everything but deep frying. I prefer Greek, as I use Olive Oil in a lot of cold dishes

Sesame Oil

A little indulgence I keep for Asian recipes

Basalmic, White Wine, Red Wine, Rice and White Vinegar

I use the first three of these vinegars in salad dressings, sauces and marinades. I use white vinegar for candy making.

Soy Sauce

For Asian recipes and sometimes as a replacement for salt

Tamari

A small luxury for Asian recipes

Tomato paste, Tomato sauce, Diced plummed Tomatoes (all canned)

I keep these stocked in the winter time for sauces, soups and stews where the featured ingredient is not tomato.

Black Olive Paste/Tapenade

Used for pasta sauces, sandwiches and entertaining

Honey

For baking, sweetening tea...stealing the occasional spoonful. I love clover honey, but I try to get wildflower (allegedly better for the bees).

Baking chocolate

For all kinds of bakey goodness

Fridge

Anchovies in Oil

I used these in dressings and pasta sauces..the occasional homemade pizza

Eggs

I try to get free range organic, cash permitting

Skim milk and greek yogurt

Drinking, baking and dressings

Miso

For Asian and Western soups and marinades

Red and White wine and beer

For cooking and entertaining

Bulgarian Feta, Sheep milk and Argentinian Reggiato cheese

For salads, snacks and pasta dishes. The flavours vary and these particular cheeses are very, very cheap. I usually only have one around at a time.

Butter (salted, unless a recipe really requires unsalted)

Baking, baking, baking

Dry Goods

Brown, Basmatic and Sushi Rice

For sides, main courses and - sushi, of course

Wheat berries

For protein rich salads and stuffing

Dry whole wheat penne and spaghetti

I often make fresh pasta, but some recipes really are better with dry pasta. Some of the top restaurants in NYC use dry pasta for some of their dishes...so if it is good enough for them...

White Unbleached Bread Flour

For cookies, bread and biscuits

White Unbleached All-Purpose Flour

For cakes. If I make a chiffon or angel food cake, I might pick up a few cups of pastry flour

White, Confectioners and Brown Sugar

For baking, coffee...top of oatmeal

Baking Soda and Baking Powder

For cookies and cakes

Cream of Tartar

I keep this around because I make candy and it is a good binding agent.

Cocoa Powder

ALL KINDS OF BAKING!! I usually have dutch processed kicking around, though apparently alkaline processed powder can be found easily now.

Oatmeal (traditional, not quick oats)

For breakfast and baking

Coffee beans

It is so much most cost effective to brew my own (50 cups for $14, versus $1.50 a cup at Starbucks). I have a soft spot for Dean and Deluca House Blend, but recently I've been getting the considerably cheaper Zabar's House Blend.

Spices

I accumulated these spices over the first 6 months of setting up shop in my own apartment in NYC. They get cycled out about once a year. The ones with a star beside them are the ones I bought on the first grocery trip - starter spices, I guess.

* Ground Cinnamon (occasionally cinnamon sticks)

Cloves (whole)

* Nutmeg (at the moment, ground)

* Coriander (ground and whole)

* Cumin (ground and whole)

Star Anise (a luxury)

Ginger (ground and occasionally fresh)

Tumeric

Green Cardamon (ground - whole when I can find it cheap)

Mustard (ground)

* Red Chili peppers (ground, whole and flakes)

* Cayenne pepper

Saffron

Fennel seeds

Caraway seeds

Kosher Salt (and sometimes sea salt)

Black Peppercorns

Allspice

* Bay Leaves

* Oregano

Garlic powder

Curry Powder (make my own)

Baking Goods

Raisins

Dry Cranberries (on occasion)

Chocolate chips

Almonds

Peanut Butter

Vanilla extract

Molasses

Basic Fruit and Veg

(This is the basic stuff always in my fridge. I supplement every week with various berries and cool veg when it is in season or on sale. I'm on a kick about white nectarines at the moment).

Roma tomatoes

Grape tomatoes

Bananas

Green Apples

Lemons

a lime

Bulbs of garlic

Basil or Cilantro or Tarragon or Thyme or Dill

Shallots

Cucumber

Onions (Vidalla or purple)

Sweet potatoes

Leafy greens - spinach, kale, red lettuce, mesclun mix and the like

Freezer

Chicken and Vegetable stock

made during the winter from my scrap chicken bones and ends of various vegetables

Bananas (and other fruit on the verge)

Luxury Items that come and go

(We buy meats opportunistically)

Soda stream flavour mixes

All sorts of fantastic but seasonal fruit and veg - like figs, pomegranites, rhubarb, fava beans

Prosciutto, panchetta and cured meats of the like

Marscapone, various fancy cheeses

Heavy cream

Pita Bread, Wasa crackers of Finn Crisps - most bread products

Black cardamon

Special salts

Green and Red Curry Paste (for Thai dishes)

Fish Sauce (for Thai dishes)

Fenugreek seeds (for Indian cooking)

Coconut milk

Sweetened condensed and evaporated milk (for holiday baking)

Agave nectar

Maple syrup

Anything else? What do you keep on hand

Graduate school and money : what I would do differently now

I think very few people make it to the end of a PhD as the same bright eyed and energetic student they were when they entered. Much of graduate school is jumping through hoops and stroking other people's egos. More generally, it is a draining experience that often rewards the less deserving and more apparently mediocre of its students.

I say all of this because despite my best efforts to be a cynical as possible, I entered my PhD program as a naive 20-something convinced that I would almost immediately do two things a) develop an innovative research career and b) lower my debt. I was here for almost 4 years before I made any headway on either of those goals.

My research career is a story for another time and different blog. I did manage entirely eliminate almost 20K in consumer debt in 2 years, and another 15K in student loan debt over the next 2 years. I would have been able to do both much sooner had I made better decisions at key moments.

Looking back - if I could change the past, I would do the following:


Lived with roommates longer

I lived with roommates during my first year in a PhD program. My first roommate was a 70 year old woman with an anxiety disorder and a dying dog with serious bowel problems. I guess that burnt me pretty badly, because when my second set of roommates (who were wonderful in every way) decided to move into a two bedroom, I decided to rent a studio. If I could back, I would have gotten over my strange city/what if apartment smells like dog diarrhea anxieties, looked for a new roommate and put the extra cash on my debt.

Paid off my credit cards before the first day of class

Self-explanatory. I did this ahead of my Masters. I put every dime I made the Summer after I graduated from my BA on my credit cards and cleared my debt. Ahead of my PhD, I bought a laptop on credit and about 12 pairs of discounted shoes that year. Big mistake.

Applied to schools with substantial graduate housing

I can't tell you how badly I wish I had the opportunity to live in graduate housing. A few schools in NYC have graduate housing, and the rent runs between 500-800 a month.

Gone over funding offers with a fine tooth comb

My particular graduate program has a bad habit of verbally offering money and not delivering when the student arrives. Actually, they have a very bad habit of offering money on paper and revoking it based on standards that neither the student nor most of the faculty understand. I did not have money revoked, but I certainly did not receive the money I was promised. As a result, I always had to have many "second" jobs which delayed my progress and ran up my debt. If I could go back, I would have been more confident that I was an asset to a PhD program and either demanded my money, or gone elsewhere.

Considered professional training (i.e. Medical, Law or Business school)

Did you know that there are MDs out there winning grants and practicing science while earning salaries between 100-500K? My starting salary will be about 37K for a post-doc and about 60K for a faculty position - both less than what I made before I entered graduate school. MD training would have been a good financial option, even with additional student loans.

Set a monthly budget/used a web-based expenditure tracking system

Had I been more financially organized, I would have found the spare pockets of money to set up an emergency fund early.

Started an emergency fund immediately

Yup. I really should have done this, rather than hang on to my last pre-graduate school paycheque. I have since established an emergency fund in a savings account detached from my chequeing account. Since they are detached, I don't feel tempted to dip into my emergency fund unless it is really necessary because it takes a long time to transfer the money. This method works for me the way that freezing a credit card in a block of ice works for credit card junkies.

Set clear, obtainable financial goals earlier

My goals were always "lower debt", "save money". I really should have said "save this much by this date, by doing a, b, and c" and then checking my progress at every pay period.

Bought thrift store clothing

I ran up a lot of debt when I first moved to NYC. A lot of that money was spent on new clothing. I lost a lot of weight when I first got here (long hours, walking everywhere) so I needed jeans that would stay up and shirts that fit. I spent a lot of cash setting up an entirely new wardrobe. Thing is, I live in a city with the richest zip codes in the country and the most comprehensive thrift shops in the world. I now buy rich people's casts offs at Housing Works and buy almost everything but white t-shirts, underwear and runners on eBay. I save $100s in clothes and put that spare cash straight on my student loans.

So - what do we think? Are their any financial decisions you would redo if you could?

Bad money habits a graduate student should quit: Part 1

Graduate school can break your spirit and your wallet. If the insane workload and outlandish and hurtful comments from faculty do not lead to a few tears dropping on the floor, the long term just-above-poverty-line income will. I'm in the middle of a doctoral degree, in the most expensive city in the Western world. After a lot mistakes and a lot of hard work, I've lowered both consumer and student debt while I've been here. As I look back at the last 15 years of my after-high-school life, I see that I developed many bad money habits. This bad behaviour took its greatest toll during my two graduate degrees - a time when I could see my non-graduate friends buying houses, eating out at restaurants and driving new cars, and I was counting the quarters in my change dish to see if I could do a load of laundry.

Below are some of the mistakes I, and many of my graduate colleagues, made. I want to emphasize that I am not a financial advisor and no investment, insurance or mortgage advice is made below. I am a graduate student who has learned and broken bad money habits the hard way.

Paying everything and everyone but your emergency fund/savings account

You should really work on developing this fund before you enter graduate school, but better to put money aside late, than never at all. When I get paid, pay myself first - I mean within seconds of getting paid. No matter what the amount, I put 10% into a savings account that is difficult for me to access (i.e. a savings account at a different bank than my chequings account). This account does not have an ATM card and takes several days to transfer money. Every little bit of cash counts. When you are pi$$ poor, that 10% might seem like a lot.....but budget around it and see how you do. I may be scraping by the next paycheque, but my reserve is growing. When I do have and emergency, I have a buffer to protect me. As a result, I don't have to use my credit cards for unexpected expenses.

Even if a student gets paid $1000 a month, 10% savings is $1200 a year.

Living alone

Just silly. In the cheapest areas of Manhattan the minimal cost of a studio is approximately $1400. You can find a reasonably sized two bedroom in areas like the Upper East Side or Morningside Heights for around $2100. That's a 21% savings in rent.

Roommates can be irritating, true - but there is the limit time in your adult life when living with a roommate is acceptable and a roommate is great way to save money on overhead. If your roommate is in your program or in graduate school in general, you'll have someone with which to brainstorm ideas. If they are in a different industry entirely, you'll get to meet new people who are not transient graduate students.


Recreational shopping

Simply put - this is a dangerous habit. Find something better to do. If you are trying to reform a bad shopping habit, an easy technique you might try is one I adopted. When I got the uncontrollable urge to buy something, anything I would first pick out items and then ask if the total price was worth the anxiety of purchasing it. Always, I realized that it wasn't. Almost always, I still wanted to shop.


If I still needed to buy something, I would buy one, entirely consumable item that cost less than $2. That would be my consumable item for the week. I usually settled on a votive candle by the Yankee Candle Company. In the beginning, reacreational shopping was a tough habit to break for me. I ended up with a little stockpile of about 10 candles and a really smelly apartment. Eventually, it became easier and easier to ignore the urge. Now I never crave shopping. In fact, I find it distracting and a little tedious.

Buy on credit

Big mistake. Credit should be for absolute emergencies only and even then you should think twice. Never, under any circumstances, buy something with a credit card that you can wear or digest. If you can outgrow it, rip it or eliminate it, it is not worth paying interest on nor is it worth an escalating credit card balance.

Buy on credit when you have cash

I've seen people use credit cards this way. When I first had credit cards I did this as well - I would use the card when I had cash in my account. I would do so rationalizing that it was somehow better to have that cash liquid, and to pay my veggie sandwich and beer + 21% interest rate when I next had money to pay it. Sheer idiocy. Some people rationalize that it is really important to have that $15 in their chequings in case of an emergency. You won't have to worry about that, because if you break habit #1 you will have an emergency fund. Go ahead, buy that sandwich and beer with cash. It's worth it.

Carrying over credit card balances

This is simple. Carrying over credit card balances does three things 1) leads to compounding interest 2) makes it more likely that your debt will grow to an amount that will be difficult for you to pay off with your limited graduate student income 3) damages your credit rating. Be smart. If you use your card, pay it down completely on the 1st of the month.

Rationalizing optional expenses with future money

This is a classic tactic of the over-spender. Olympic over-spenders will rationalize unnecessary purchases or even loans with income they think they will make they get out of graduate school. You don't have that income tax refund, tips from waitressing next week, birthday money or even your next paycheque until it has cleared your account. As anyone can tell you who has graduated since 2007 - you have no idea what the job market will be like when you graduate. There are two reasons to never buy something with the expectation that money will eventually arrive 1) people who do this have a tendency to underestimate their actual expenditures and spend more than the awaited amount 2) there is no guarantee that amount will arrive or arrive on time.

Pay full retail price

If you are the perfect doctoral student, you will be finished your degree in 5 years. If you aren't perfect, you'll be out in 8. Paying full retail price on anything, particularly clothing is just a waste. Buy on sale as much as possible. If you really think you can justify paying full price, buy on sale anyway and put the difference in your savings. Remember - graduate school is short term. Dropping $100 on a dress that you can get for $50 two months from now isn't worth it.

Buying books

Four reasons - 1) you live in a small apartment 2) the New York Public Library has every holding you can think of and more (and many e-books to boot) 3) most fields of study rely on articles published in peer reviewed journals - anything else, you can borrow from the library.
4) average soft cover book costs $15-20. Even if you only buy 2 a year, that's enough for a studio Coned bill or a reasonable contribution to your savings. Save book purchases for when you have a sprawling apartment with a dedicated library.

Any aspiration to live a Carrie Bradshaw lifestyle

This is a killer in NYC. Every year 1000s of women in their 20s flood this city with images of Sex in the City-like events, clothes, and shoes....and every year, those girls end up to their necks in credit card debt. This is hardly the fault of Michael Patrick King, HBO or any of the principals at SATC. While a often a fluffy, cupcake of a show the producers did repeatedly introduce Ms. Bradshaw's entirely consumer good driven money problems -including a rather humbling scene where a very well dressed Carrie explains to a mortgage broker that not only does she not have any investments, she only has $700 in her savings because she just paid off her credit cards......of course, the show does revert back to fantasy when not one but two people cut Ms. Bradshaw a 20K cheque to use as a down payment for her apartment - thus bailing her out of perhaps a decade of overspending, and presumably bypassing all normal procedures of ensuring that a co-op resident has a 10% reserve.

Carrie Bradshaw doesn't exist. The women that genuinely live this lifestyle here were either born, married or scraped their way into the top 10% of incomes in this country. Wake up - a pair of Manolos...or even a pair of discounted designer heels from Century 21 is not worth the 21% interest you are going to pay on them. You are a graduate student - smart enough to not be 35 and recounting to a mortgage broker how you have less than $700 to your name.



So...what do we think? Are there other money habits a graduate student should drop?

S&P plunges: analysts freak and I look for cheap vacation options

AAaaaaaaaaaaaaaaaaaaahhhhhhhhhhhhhhh......kerplunk.

I don't know why anyone is surprised by the S&P 500 taking a nose dive this week. The entire month of July was filled with insanely and somewhat arbitrary news about U.S. bonds facing a potential downgrade on August 2nd. How anyone can be knee deep in margin calls today is kind of beyond me. Given the ambivalence and verbosity of the rating agencies, the dismal jobs report and the public furor over political cockfighting there is no scenario that I could see a market spike initiated by any debt ceiling agreement being sustained. Someone will be unhappy, spark panic and fill the market with sell orders.

Still, this sort of speculation is what makes the market go around I suppose.

I don't doubt the seriousness of our economic woes. I live in the one city where every person is aware of what the market is doing, even when the bloggers that fill CNN's front page are consumed with human interest stories. There is more than enough information out there saying that the economy is no growth, that the market might still be undergoing a contraction. I'm just saying this isn't a black swan. Yesterday and today were entirely predictable based on the last month.

Still, things are not looking good. While my holdings in the market have dropped, I'm not in any volatile sectors - so I feel okay holding my positions and escaping the global economic woes some other way. Since my approach right now is to make lemonade out of shriveled, discounted lemons I've decided that this is the time to hit the road....go on work vacation or a least a day trip. I managed to dig up some pretty cool vacays on Living Social and Expedia for really great prices. Check 'em out!

Day trip

Museum of Sex after hours with cocktails

Location: Midtown Manhattan
Vendor: LivingSocial

Deets: The science and social nerd in me thinks this is a really hot mini day-trip. The Museum of Sex has a bar at the end of it featuring aphrodisiac-based drinks and food. This day-trip/date-trip includes 2 hours of after hours museum wandering, and a free drink with oysters at the end. I actually think this is a great second date/date well into a relationship trip. If you are just getting to know someone, you'll find out pretty quickly if they have a sense of humour about sex or if their come-on style skeeves you out. If you are deep into a relationship talking about the funny aspects of sex and the sex industry followed by a stiff drink would be a lot of fun.
Cost: right now, $69. This is not a sex joke - it was $49 last week. Prices on Living Social sometimes go up as people buy the packages.


Two Day nearby trip at fancy locale

Location: Nantucket
Vendor: LivingSocial

Deets: 2 night weekday stay includes beach chair rentals, a room at the Center Street Inn, continental breakfast and a bottle of wine. The beach, shops and ferries are reportedly within easy walking distance of Inn. Sounds like a nice little break from the insanity of New York and the weekday stay means it is likely a break from the insanity of Summer weekend Nantucket.
Cost: For two people it is $205 for a room with a shared bathroom and $295 for a room with a private bath. You would have to find a way out to Cape Cod and then Nantucket - so a bus or car rental would likely have to be slapped on there too.
Almost a weeklong trip on a beach in another country

Location: Puerto Vallarta, Mexico
Vendor: Expedia
Deets: 5 days and 4 nights at the Presidente Intercontental Puerto Vallarta. I've actually stayed at this hotel and really liked it. It far enough away from Old City Puerto Vallarta that you aren't constantly pestered by vendors walking along the beaches, but is close enough to the city that a 5 minute bus ride gets you to the River Calle. The rooms are huge and very pretty. The oceanside rooms have balconies and expansive views. You can rent various kayaks and paddle boats at the hotel and take them out to Los Arcos to watch fish etc.. All in all, it's a great little spot. Puerto Vallarta was the personal love nest of Richard Burton and Elizabeth Taylor while he filmed "Night of the Iguana", it is a fun and yet deeply romantic city. I loved every minute I was there.

Cost: a bit more expensive, and sadly out of my price range. It is $683 per person for Sept 26-30th - flight and hotel included. Great deal, but not for me....sigh.


So...I think H and I are going to start with the Museum of Sex. Who knows, maybe 9 months from now I'll blogging about deals on diaper services.

The Presidente Intercontinental, Puerto Vallarta, Mexico

(the second to last hotel on the right before the penninsula)
(Photo credit: http://www.grandluxuryvacations.com)

Garlic Kale with pine nuts - budget friendly dinner

I've been writing quite a bit lately. Between publications, book stuff and the biiiiiiig paper, I haven't been hitting the gym as much. I used to go for 2 hours a day. Now I sit in one position, and putter about looking for grants and whatnot. This is the recipe I go to on the days when I'm pretty sure I blew my calorie allowance by noon.

I think I came across this recipe during my running days. It's iron rich and filled with fiber - all things runners need. It's pretty simple

2 Tbsp olive oil

2-4 gloves of garlic diced

1 bunch of kale

2 Tbsp of pine nuts

2 Tbsp of dried cranberries

2-4 Tbsp of balsamic vinegar

salt and pepper to taste.

Heat the oil on medium heat. Add the garlic and wait until it is almost brown before adding the kale. I usually cover for 2 minutes while the kale cooks down. Take the cover off and let the kale cook for 3-4 more minutes. Add the pine nuts and cranberries. cook for a minute. Add balsamic and cook until the kale starts to turn brown. Take off the heat and season to taste.

I sometimes eat this with a little chunk of bread or pasta and a poached egg on top. Cost comes to about $5 for two people. Done and done.

Major Debt milestone

My student line of credit, acquired and used since the early 00s, is back down to its 2000 level today. I have successfully put 22K towards the debt acquired during my early student years since August 2008. I'm a third of the way out of student debt, and I'm still in school. At some point I'll sit down here and explain how I've been reducing my debt.

Since the National Debt Bill Vote is making me nauseous with anxiety AND NYC is under a severe-weather/tornado warning tonight, I've decided to deal with that circus by watching Mad Men on Netflix.

This is the exact opposite attitude I take towards my own finances and politics in general. I have rationalized this night of a$$-sitting and Don Draper-watching with my own debt-reduction success.

There will plenty of pre-market freak out to watch on tv while at the gym this weekend.

Restaurant recommendation: Cafe Himalaya, East Village

Nasty week - let's eat out

It has been an emotional week. I became an aunt. A dear, dear uncle of mine passed away very suddenly. Several co-workers passed the buck this week on tasks they agreed to do, leading me to scramble to find others to do the work for them. My bosses have been sitting on my publication since April. They ignore my emails and demand last minute meetings that always devolve into checking of stock holdings and social meetings with other people. Someone has already scooped part of my project due to my bosses' off-the-cuff demands. I am at my emotional limit.

Given the tough week, H decided to take me out to dinner. He had two stipulations a) it had to be outside of our neighbourhood and, because are pretty close to exceeding our restaurant budget this month, b) it had to be inexpensive. He dug around on Yelp and Menupages and found the highly recommended Himalaya Cafe - a BYOB Nepalese restaurant on 1st and 1st in the East Village.

Cafe Himalaya

Having never had Nepalese food before, it is difficult for me to say whether this restaurant replicates it well. I can say the food is damn fine. I'll likely get reamed out for this description - but the cuisine really appears to be a hybrid of Northern Indian Food (read, little to no cream) mixed with Chinese and touches of SouthEast Asian influences. The menu at Himalaya consists of a lot of dumplings, light, yogurt-based curries and similar dishes served with either basmati rice or egg noddles. Many people come to this restaurant for the dumplings which, as I understand it, are better pan fried than steamed.

The proteins on the menu are mainly beef, pork and chicken. The menu is heavy with veggie friendly options. The restaurant has a very visible list of recommended dishes on a blackboard above the kitchen. The dishes are large, designed to be shared and run about $7 a plate. While a little oily, the dishes are generally light and spicy - perfect for an overwhelmingly hot day.

We had the

Tsel Gyathuk Ngopa

sauteed noodles mixed with fresh green vegetables & tofu ($6.75)

Chasha Shamdey

a himalayan style chicken curry marinated in homemade yogurt & spices with served basmati rice ($7.50)

The actually location isn't much to look at, but the interior hardly matters. The overall appearance is really one of a neighbourhood dumpling house. It is a small,clean cafe with a chalkboard menu, visible kitchen and relatively unadorned wooden interior. The restaurant has intimate seating. The staff lets the clientele sit for as long as they please. In combination those two factors make for a friendly, upbeat and even romantic atmosphere. We were surrounded by couples and groups of friends who had come in with their own bottles of beer and wine to enjoy company and food on a hot day.

The wine

The Himalaya Cafe is very close to a number of liquor stores and markets. We didn't realize that at the time and stopped by Trader Joe's wine shop in Union Square. I realize Trader Joe's wine shop probably brings two-buck-chuck to mind. For anyone who hasn't been there in the last 5 years, the T.J. wine shop stocks some really fantastic wines at very low prices. At some point, I'll get around to posting my favourites on this site. For the time being, I'll tell you that we picked up a bottle of Oyster Bay Marlborough Sauvignon Blanc, 2010 - a wine that I have seen retail for $20+ - for $7.99

In retrospect the food could have handled a wine that was a little bit more floral, however Sauvignon Blanc is a great pairing for Nepalese curries.

Oyster Bay 2010 Sauvignon Blanc is crisp, low acid and has citrus (mainly lemon) and grass clipping notes. As many Sauvignon Blancs warm they can taste more and more barnyard-like. This is a quality that I like, even when the wine is perfectly chilled. However, I knew I really wanted a wine that was smooth and low on the front lawn taste. Oyster Bay was perfect. Given the heat outside, it did warm a little and held up very well and maintained a very clean finish. I cannot recommend it enough.

The cost

We walked home. The total cost of a night out $24 (+tip), which represents a 1/4 of our monthly restaurant budget ($100).

Is it a night at the Mandarin Orient? No - but my ventures into highly-budgeted-ville are teaching me that fun and romance are really more about the company and adventure, than views and sparkling sakes (though, the M.O. view of Central Park is pretty amazing). Our dinner at the Cafe Himalaya was damn tasty, a lot of fun and a nice break in an otherwise taxing week.

Under $10 indulgence #1 - Mighty Leaf Tea

Little gifts to me are a big part of how I brought my spending under control. When I first moved to New York, I was dropping plastic cards down on high end designer shoes and purses. I ate out every night and drank expensive drinks..and cheap drinks...well...I mean, I drank like a graduate student. I drank a lot. Every little bit of it went on a credit card.

My income, however, had dropped to lower than a 1/3 of what it had been the year before when I was viably employed. When you earn less than $15K a year, Chanel shoes and regular drinks and dinner at Pravda should be well out of your reach. They, of course, were well out of my reach. I spend this way because I felt inadequate. Around then of my second year in New York I realized what a mess I had had made and decided to get myself out of it.

I had about $20K in credit card debt, a failing marriage and a bit of no-starter degree. The very first thing I did was set about earning some extra cash. I took a term off of my degree to earn some extra cash and managed to clear 1/2 the debt. I divorced my husband - a man who made me unhappy and who had very, very unhealthy spending habits. When I returned to school 5 months later, I started a savings account and developed a plan to clear the rest of the debt on my lower graduate income. I took up extra teaching positions, a college assistant position and I worked out a debt repayment record and plan for myself. The divorce, the debt repayment all made me feel better about myself. So as to not feel deprived, I changed the meanings of the words "splurge" and "deserve". A "splurge" became an item I could afford within my actually income, but the cost of which would not help me noticeably reduce my debt. "Deserve" came to mean items that would not interfere with my debt reduction or savings.

I worked out that I could afford a $10 item every month or so that would be just for me and would make me feel special. At times this item has been an extra $10 so I could get a fancy shampoo. Other times, it has been a movie I really wanted to see. Most of the time I bank it to buy higher priced items like clothing. This month, it is Mighty Leaf Tea.

I love tea. My firm belief that a warm drink = warm thoughts has recently be substantiated by a study published in Science . Mighty Leaf Tea Company is a Californian company that produces whole leaf teas wrapped in silken tea bags. Now, I'm not sure if "silken" means "silk", but the company assures the buyer that the pouches are biodegradable. Sadly, the cellophane packges that the bags are placed in do not degrade. A supercool feature of the company's site is character, origin and health benefit information for each tea as well as customer ratings and comments. Honestly, I find the customer ratings more helpful than the company's own description of the tea flavour.

My personal fave Mighty Leaf tea is Orange Dulce, which sells in NYC for about $7.50 for 15 bags (currently $6.96 online). It is a blend of black and green tea leaves with jasmine flowers, vanilla and orange flavours. It is smooth tasting - like chamomile, with hints of wood and citrus. The company claims it tastes a bit like port. I drink port on an almost weekly basis and I don't taste port-like flavours in this tea at all. Still, it is an amazing cuppa.

Fabu-money 1 – Developing Savings while a Graduate Student

If a drug cartel can set up a savings program, anyone can

Photo credt: Justice.gov

I’ve been a university student longer than I’ve been anything else, other than human and female. All told, I’ve been in school, on and off, for 14 years, 11 of which were spent as a full time student. I’ve racked up student debt and I’m now in the process of paying that odd while I remain a student. Pretty snazzy huh? How am I doing it?

Well, first, once I entered my doctorate, I stopped taking out loans. A students should never enter a doctoral program that is not willing to pay something for them to be there in the first place. That was my first smart move. I made sure that the program I entered offered me something. Granted, my program didn’t pay me very much and I have had to take up teaching to pay the bills – but I am not gaining debt while I’m in school. That is very, very important.

I still have a hefty debt load from my undergraduate degree. One of these loans is a government loan that cannot be paid down while I am in school. The other is a student line of credit. I am paying them down and building wealth at the same time. How? Well, my method may not be for everybody. It’s a mix of advice for several big financial gurus. It may not be the method for you, so I’m not universally recommending it. I’m not a certified financial advisor and have no credentials in the area of money management. I’m just giving you the D.L. on why debt load is no longer burning a hole in my stomach.

There are 3 large components to my strategy. They are as follows:

a) Develop Savings - Pay Yourself First

b) Be Aggressive – Track, Evade and Slaughter Debt

c) Invest Directly

I’ll only discuss the first of these components today.

I Developed Savings

Having money is a savings account is so important in easing my worries about debt. One of the worst feelings I’ve ever experienced is one of helplessness when I was faced with large, sudden charges for health care or tax repayment and had no money in my account but rent.

Money can be saved in a savings account with the goal of using it for emergencies, aggressive payments towards debt or investment. Without liquid savings of some kind, there is very little I could do with my own means to support myself when unexpected bills or cash losses happened. How does one establish savings when one has little income? Well, this might not be the best method for everyone and I’m not certified in personal finance, but this is how I did it.

I Paid Myself

I earn a pittance as a graduate student. I formerly held the opinion that I should direct all my spare money towards debt and save later. When I looked at that logic closely in light of my consumer debt, it seemed ridiculous. My credit card has an interest rate of 18.6%. Unless I was capable of making aggressive payments towards the principle, I would be constantly spooning out an ocean of interest with no assets to show for my time.

That’s when I adopted a practice recommended by David Chilton, the author of the Wealthy Barber - that is, set aside 10% of my income for liquid savings and do not touch it. That might seem like a lot if you can’t pay your phone bill, but I did this even lean times. The way I see it, I’ve earned, approximately 400 000 to date – excluding gifts, union repayments and possibly a few jobs I don’t recall. That doesn’t seem like much for a life time of working, but had I saved 10% of that, I’d have 40 000 in the bank right now.10% is so small, that even when paying the bills seems hard most people do not notice the money. Every paycheque, I set 10% of my net income aside and do not touch it.

I Paid Myself Unexpected Money

The savings have accumulated really quickly, despite my student status. I’ve saved roughly 10K in two years and have barely suffered doing it. I’m not earning 50K a year, so you might ask how I did managed to save that money. Along with paying myself 10%, I also put any unexpected funds into my savings account.

Unexpected funds are cheques from grandma, income tax repayments, money saved by buying something on sale, money earned in past time activities or through sale of personal items. I defined it as money that falls outside of regular income or savings made by not purchasing something full price. When my parents give me a cheque for my birthday, I have a choice to spend it or save it. I decided to put this money in savings the day I looked at one of my checkings account statements and realized that all of those purchases were for temporary items, usually clothing or restaurant dining, that I would not miss if they disappeared or if I never had them. Rather than spend this money on something dispensable, I put it aside. I even threw in money refunded from purchases that could not be directly refunded back to the paying account

Outside Work just for me

To help build my savings I decided to earn a little bit of money from work outside of my regular graduate student jobs. As my research schedule is very demanding, the work I chose could not have high time demands. Waitress and bartending work would have required more time than I could spend. The work also had to be enjoyable as it would occupy some of my very infrequent spare time. In the end, I chose worked several, short term, outside jobs. I searched www.craigslist.org for art school modeling work (they look for people of all shapes and sizes), and basic book research work. Both of these positions were fun and had agreeable schedules. The funds from that work, while small, were also put into my savings.

I Celebrated Every Savings…

…..in a money healthy way. It was really easy for me to save money when I had fun doing it. Even when I have $50 in my checkings account the last few days before my paycheque, I always found a way to celebrate the $75 I put into savings when that paycheque arrived. Sometimes that meant I bought a café latte, sometimes that meant I went into my research area late. Other times, it meant that I just took joy in watching the numbers in my savings account increase.

I Never Compared Myself to My Contemporaries

Graduate work is a tough road. Not a lot of people understand why I pursued it and it can be tough to stick to my research while I’m watching my college friends buy houses and have babies. It can be very depressing to look at my accounts and start accounting for the assets my contemporaries have. ……so I don’t do it. I don’t think about what other people have or wonder if I’m financially behind everyone else. It’s self-defeatist. I just take joy in the idea that I’m doing something for me.

New Years Resolution: The Fabu-closet

Like most people I make New Years resolutions. I tend to keep them, but then, I tend to set goals that are attainable within 6 months. This year I set three goals:

a) Commit 40 hours or more a week to being a scientist
b) Eat in and Invest as part of a plan to be more financially responsible
and
c) organize my closets.

Resolution B will be the topic of a future Fabulife post. This post will be dedicated to this month's project, organizing the apartment closets.

Why? Well, an organized closet assists in buying new clothes and linens, keeping older clothes and linens in good shape and lifting self-esteem. If you don't believe that last point, I would suggest reading one of the multitude of books out there on defining personal style and finding something to wear in a closet full of unwearable clothes. Jesse Garza and Joe Lupo, Posh Spice have just published books on this matter. Tim Gunn and Veronica Webb host a show dedicated to this topic as well. They all recommend organizing closets as a first step in defining personal style, "destressing" the outfit assembly process and improving self-image.

Personally, I'm organizing the closets because I can't take the tumbling boxes, and falling towels anymore. I have about $250 to spend in this effort. While I love the style of Paris Hilton's last walk-in closet, I have 600 square foot apartment with three little reach in closets with sliding doors...so the dream will have to wait.



People with money can afford to hire a closet organization service. Companies like Closet Organizer USA, will custom build closet inserts for a customer based on customer needs, closet dimensions and closet type.



I am, however, a graduate student in New York City. I can't afford custom closet design by anyone but myself.



As I am a student, I am a renter. I, therefore, am not interested in buying storage systems that extensive wall installation.

For my whopping budget of $200, I was able to find the following closet organization items that will cure my falling towel and tumbling box issues.


This "Hold-All Handbag Hanger" in Blue Blossom, currently being carried by Target for $29.99. It is a little overpriced, in my view, but I love that it holds the bags vertically.


No New York City apartment would be complete without space saving hanging closet bags. This set of two are available at Target for $19.99. Given the pest infestations in the city (i.e. carpet beetles, moths) that can lead to unfortunate damage to both natural and synthetic fiber clothing, vinyl clothing bags are really important for storing items not often used, like formal wear.


Closits modular storage systems are low cost, do not require wall installation and have a sort of cute cottage, shabby-chic feel to them. The system has multiple components including backed shelves, sliding drawer units and show cubby holes. All components are available at Walmart and Target for roughly $50 or less. I've invested in the double shelf unit, large drawer storage, and shoe storage.





With the cash I had left over, I searched and found reasonably priced wooden hangers.



Alas, the wire monstrosities can be tossed and no more shall Joan Crawford like screams regarding hangers will emanate from under my apartment door.