Saturday, May 26, 2012

NYC for Free


It’s a stunning Memorial Day weekend in New York City and I can’t bear to waste it away inside.  Unfortunately, going out and about in New York City is an expensive proposition.  So I set out to find some free and fun things to do.

Started out with a simple google search.  As I told my brother once “If you ever want to know anything about anything, just google it”. So I searched “NYC free events” and was hit with a barrage of  results.

NYC may be expensive, but in the spring and summer months, it  gives back to you if you know where to look.  Free fitness classes, movies, tours, theatre…. The list goes on and on.

Each of these websites have extensive lists of cheap and free NYC events on a daily basis.






Here’s what I’ve got lined up for today.

Kayaking on the Hudson.  There are three locations in Manhattan where you can take a kayak out on the Hudson river completely free of charge!  This volunteer run project is open all summer long visit www.downtownboathouse.org for more info.

Fleet Week Public Ship Visitation.  All weekend from 8am to 5pm the military ships at piers 90 and 92 are open to the public. 

Pier 86 Displays.  The home pier of the famous Intrepid museum is abuzz with activity this Memorial Day weekend.  Just stop by the pier to get a taste of some Southern Hospitality’s BBQ giveaways or catch a performance by one of NYC’s broadway shows or fabulous musical groups.

The High Line.  Open from 7am to 10pm daily, the high line is a public park built on an historic freight rail line elevated above the streets on Manhatan’s West Side.  The New York City park system is unbelievable.  You can make a day out of any one of them.


The free stuff isn’t just limited to weekends and holidays.  Let’s take this coming Wednesday for example.  Just your regular weekday, but you can spice it up with any one of these free things to do.

Sunrise Tai Chi. 6:30am-7:30am in Fort Tryon Park

Shape Up NYC Yoga. 9:00am-10:00am at Tower Plaza in Highbridge Park.

Bryant Park Ping Pong. 11:00am-7:00pm in Bryant Park.

Piano in Bryant Park. 12:30-2:300pm in Bryant Park

So turn off the computer, put your wallet away, and take advantage of being in one of the greatest cities in the world.  On that note, I’m off to kayak!

Sunday, May 20, 2012

Couch Surfing and Ride Shares: My Week of Travel on a Shoestring Budget



I just completed a little conquest: to travel a week, spending as little money as possible.  I started by venturing onto a website called couchsurfing.org, creating a profile, and sending out requests.  For those of you unfamiliar with couch surfing, it is the practice of crashing on someones couch for a night, or two, or however long you need- but instead of a friend, you’re staying with a total stranger.  It sounds crazy.  I know.  So I thought I’d do some first hand research, write about it, and maybe demystify and hopefully destigmatize the whole concept.

            I’m not entirely naïve.  I understand that I’m a small 25 year old female traveling alone and asking to stay with strangers.  So I narrowed my search to females and couples.  My first stop, Provo, Utah.  I typed the city in couchsurfing.org’s search engine and a multitude of women and couples appeared on their data base.  I sent out requests to three or four couchsurfing members with the dates I’d be in town and within 36 hours I had a place to stay.

The date rolled around a week later and I arrived in Provo, Utah.  The couple I was staying with had gone to see a movie so I killed time at a local coffee shop till they returned home. I introduced myself and we sat and chatted for an hour or so before bed.  They were mormon newlyweds.  We exchanged stories about life and our general travel experiences.   Despite warnings that I might get a hard sell on the LDS (mormon) religion, the topic never came up; Though there was a copy of The Book of Mormon strategically (or coincidentally) placed on my bedside table. 

This was my very first couch surfing experience.  I had no idea what to expect or what the proper protocal was.  I was amazed and grateful when they showed me to my own room complete with a twin bed and a set of clean towels.  I left in the morning, after they wished me a good day and offered me some breakfast.  I was out all day, but kept my hosts in the loop on my estimated arrival and returned that night to sleep.  The next morning they had gone to church.  I made myself some breakfast and surfed the internet till about noon when I hit the road to Salt Lake City.  It was a wonderful introduction to the world of couch surfing.  I slept well, washed up, ate, took care of business- everything I would do at a hotel, but for free.

Next up, three days in Salt Lake City.  I had confirmed another stay with a couple who pulled out two days before realizing it was Mother’s Day weekend and they were otherwise committed.  It was then that I encountered my first problem with couch surfing.  There’s no guarantee.  So I sent out another request, this time broadening my search to include men, and I heard back within a few hours.  My host picked me up and brought me to his place that he shared with his roommate.  This time I was on the couch.  I didn’t mind as it was a couch that I expected when I signed up to “couch”surf.  After chatting for a bit my host took me to downtown Salt Lake City where we spent the night with some of his friends visiting some local haunts.  The next day they took me on a glorious hike through Utah’s Wasatch Mountains.  I bought groceries and made dinner for everyone that night to say thank you.  The third day I had the place all to myself while my host went off to work.  Three nights on the couch did a number on my back, but it was free and worth every penny. 

I spent my last night in Omaha, Nebraska.  I didn’t arrive till 10:30pm but the couple hosting me welcomed me with kindness and another room all to myself.  They were in their mid 20s, a pair of high school sweethearts planning their upcoming nuptuals.  They had recently spent eight months traveling through South America, using couch surfing to find places to stay.  We traded stories- they had talked about all the folks they’d hosted, most recently, a couple traveling through town for a Berkshire Hathaway conference.  At that point I learned couch surfers range from drifters to investment bankers.  Anyway, I spent the night on a full size futon and let myself out in the morning.  Another pleasant stay at no cost.

So would I recommend it?  Absolutely.  Particularly for short stays.  But be smart.  Identify who you’re comfortable staying with.  You can filter search results by gender, age, etc.  Read people’s profiles.  Like facebook, couch surfing has a profile page for every member.  Get a sense of your potential host by reading through theirs.  Additionally, there is a system of recommendations.  Like yelp or tripadvisor, people can rate their experience with hosts and surfers.  I only contacted people who had several good reviews.  But remember, there’s no guarantee.  Something may come up at the last second and you may be SOL when you get to your destination.

My other cost cutting method for the week was ride sharing.  I had to get from Salt Lake City to Omaha.  Flights were far more than what I wanted to pay and getting a one way rental car was almost as bad.  So I hopped onto Craigslist to see what I could find.  In the top left hand corner of Craigslist is a section called Community where Rideshares are listed.  I browsed the rides offers and sure enough found someone driving from Salt Lake City to Orlando, Florida- Omaha was right along the way.

I called and spoke to my rideshare and kept in contact regarding details.  We were set to make the 14 hour trip Monday morning.  The two of us and another girl catching a ride to Miami.  We exchanged drivers license numbers to verify.  The Saturday before our scheduled departure I got a text saying something was wrong with the vehichle and we wouldn’t be able to leave until Tuesday.  Tuesday morning rolled around and I was at my pickup location waiting for my ride when I got a text saying the other girl hadn’t shown up yet.  After standing on the corner for another 30 minutes my ride arrived, but without the other rider, she was a no show.  So now it was just me and this guy I had just met driving cross country. 

He seemed nice enough.  We passed the first couple hours getting to know one another.  After nine hours I started getting stir crazy and counting down the miles to Omaha.  Every so often it felt like the dilapidated car we were driving was ready to give out- eventually it started making some disturbing noises.  As 9pm rolled around and the sun disappeared we were approaching Lincoln, NE just an hour outside of Omaha, when we had to stop on the side of the road. My rideshare disappeared underneath the car for 20 minutes, something was wrong, he explained it to me but I honestly had no idea what he was talking about, I was just focused on the 65 miles separating me from where I needed to be.  We drove to the next exit, got off, and he continued his work.  All I know is he was doing something with a  flashlight and some rope.  At this point I really started to worry.  It was getting to be 10pm.  My couchsurfing hosts, who I’d never met before were waiting on me.  Luckily we got on the road again and made it to Omaha before 11pm.  All it cost me was one tank of gas- and a little but of stress and worry. 

So would I recommend it?  It depends.  If you have some flexibility and can tolerate a certain level of uncertainty, then sure.  It’s cheap and you get to meet new people.  However, there isn’t much of a screening process like there is with couchsurfing.  You can’t read through someones profile ahead of time or read reviews.  Nor can you get a full history and report on the condition of their vehichle.  But I think if you’re thorough in your convorsations before the trip, it’s not much different than finding an apartment or a roommate through craigslist.  You find a match, you collect whatever information you can, and you make a decision on whether or not you think it’ll be a good fit for you. 

At the end of the day, saving money is great, but you have to do whatever makes you comfortable.  There are definitely creepy and crazy people out in the world, but I think most of us are savvy enough to filter through and remove ourselves if a situation arises. Will I couchsurf or rideshare again? Probably.  I had a decent experience with both and for short trips and/or stays it’s such an easy cost cutter. I guess it all comes down to value.  For me, it’s crazy to spend $80 on a hotel room that I’m going to be in for less than 12 hours..  It’s just not worth that price.  I’d much rather stay on a couch for free.  But I do see the value in paying for a hotel when I’m staying a while and have things to do and need to come and go at my own leisure and be assured a good night’s sleep.  So think about that the next time you travel.  If you have any of those quick overnights at least consider the alternative.  I did it and I’m not sorry.

Saturday, May 12, 2012

It's Never too Early to Start Planning for Retirement


I’m not sure what it was about the first few years of my adulthood that made me realize I had to start planning for retirement, but I’m so glad I did.  Money comes and goes but once time passes, it’s gone forever.   When planning for retirement, time is an invabluable tool.

On my list of priorities, retirement planning comes right after my basic needs and emergency savings.  It comes before cable, internet, social spending, etc.  Yes,  you read that correctly, it’s more important than cable. 

I find a lot of young people these days haven’t even thought about starting a retirement fund, and those who have, don’t have a clue where to begin.  Retirement seems so distant, so we put it off, throwing away all that priceless time.

I decided that with my income being as small as it is I didn’t have any time to lose so I went and got myself a copy of “Investing for Dummies” by Eric Tyson.  Starting with a basic guide with language and structure specifically geared toward the beginner or “dummy” is remarkably helpful.  After laying a foundation I started building upon my knowledge with more and more finance books, websites, and magazines.  The wealth of information- a lot of it completely free- is astounding.  There’s absolutely no excuse not to self educate and start your retirement portfolio. 

In the last few years, through self education and seriously minimal income, I’ve been able to put a number of basic accounts into place.  What I’ve realized is that it isn’t just about retirement, it’s about managing your finances with the present AND the big picture in mind.   So here’s a quick overview of what I started with.

Checking Account: I’m sure everyone has one of these.  I shopped around for the best interest rate I could find on checking.  I also made sure I had a debit card that wouldn’t cost me anything in ATM fees.  I set up direct deposit to this account.  As soon as that account starts building up (if it builds up) I like to move that money either into a higher yield savings account or my retirement account.

Credit Card Account: I use my credit card often, but I don’t spend money I know I don’t have.  Every two weeks I pay off the entire balance.  Not the minimum, the total balance.

Savings Account: My savings account acts as my emergency fund.  I’ve been able to save up about 3 months worth of living expenses.  My goal is to get to 9 months.  Because this is money I don’t need immediate access to, I’ve chosen an online bank rather than a brick and mortar.  They have fewer costs and offer higher interest rates.

ROTH IRA: This is a tax free retirement account meaning you fund the account with after tax dollars, but your earnings grow tax free as long as you wait till your 59 ½ to withdraw the money.  Within my ROTH I invest in two major funds (for now).  Because I’m still young and have the time to weather rises and falls in the market I have a fairly aggressive portfolio.  Most of my money is in stock funds.

Individual Stocks: I’ve allocated a small amount of money to invest in some individual stocks.  These are the riskiest investments I have.  Until I have a firmer grasp of the market, my investments in individual stocks will be minimal.  They do, however, offer tremendous growth potential.

[401k: My employer does not offer a match so I invest more in my ROTH instead.  I do, however, recommend contributing to a 401k if your company offers you a match- it’s free money].

Each of these accounts will likely resurface in more detail as future blog topics, but don’t wait to get started.  Grab a book or do a google search today.  The way I’ve set things up isn’t necessarily right, but it’s a start, and something I feel I can rely on both now and as I continue to think about my retirement and general financial planning. 

The more you self educate, the less intimidating and more practical it all becomes.  The crazy thing to do would be to let all your income sit in a checking account earning pennies in interest until you get your act together.  Even if you can’t max out your 401k or ROTH.  Even if you can only contribute $50 a month, you’ll be in a great position.  With compounding interest, time is just as important as money, so don’t delay.


Ps.  If there are any specific topics either from this post or others that you'd like me to blog on please comment below.

Sunday, May 6, 2012

Where Does It All Go?



Money seems to dissipate at an unprecedented pace- at least in my life.  By the time I’ve paid the rent, bought my groceries, and accounted for my transportation for the month it feels like I’m back at zero.

Two years ago I decided to take charge of my financial situation by writing it all down.  Every dollar, every penny.  Now I’m hooked.  I don’t think everyone needs the five spreadsheets that I have in my excel file, but I strongly believe every person should write down every penny they spend for at least a few months and observe where it all goes.  When you see it all laid out in front of you, I think you gain some perspective and learn something about yourself.

You learn what you value.  The things that you pay off immediately from your checking account or with cash are your number one priorities.  The things that you put off, charge to credit, allow to sit unpaid, those are your least valued.  If you’re looking over your finances and finding that your spending doesn’t reflect your top priorities, it might be time to reasses.

Did you purchase a pair of designer jeans before paying off the doctors visit that you charged to your credit card last month?  That’s fine if you value your style more than your health.  I’m not saying what you should or shouldn’t value more than anything else, but I do believe the way in which you pay down what you owe should reflect your order of priorities.  If having a cup of Starbucks coffee everyday is a greater priority than your student loans, then keep grabbing the Starbucks.  But if not, take some action and adjust your spending.

I'll start by listing priorities from top to bottom.

At the top of my list is shelter, food, and transportation.  These are my basic needs and therefore my top priorities.  My non negotiables.  There’s a number of categories that support these basic needs- electricity, heat, water, gas .  Then my cell phone.  Next up is my savings- putting into my emergency account and putting what I can into my retirement account. My internet connection is up there along with my business expenses,-web hosting, professional training, resume printing.  Then personal care products and household cleaning products. Then the social expenses, going out to dinner, grabbing a drink, buying a birthday gift.   And finally, my luxuries.  The netflix subscription, new clothes, massages, vacations, the occasional cup of tea or glass of wine while I’m out. 

There may be some things reflected in your expenses that don’t coincide with your list of priorities that are difficult to come to terms with.  In creating my list I notice one major discrepency between my spending and my values.  I don’t have health insurance.  Do I really value my netflix subsription over my health?  I’d like to think not, but according to the last two years everything I’ve done supports that conclusion.   Well, maybe not everything.  Despite tight funds I’m always willing to pay more for organic and local produce.  I also will invest in a new pair of running shoes every so often.  So my preventative healthcare is up on the list with my non negotiables.  It’s the rest of it that I need to get in check.  Thus far eating right and working out has served me well but if anything serious were to happen to me I’d be screwed. 

Writing it all down can illuminate areas of your life that you may be neglecting in favor of other, more trivial expenses.  I know it did for me.   And more importantly you can actually see where your money goes.  The more I see where the money goes and how much things cost, the more I value each and every dollar and think smarter about how to spend it.