This advice is geared toward your early twenties but is applicable to any stage of life. Whether you’re a recent college grad or a bit older, these tips will save you and make you the most money, based on my experience and calculations as a woman in my latest of twenties.
Imbibing on a budget
They don’t teach these tips in school, but they should.
Set yourself up to be in a better place financially in ten years like so:
1) Buy a used car
Don’t buy a new car and don’t buy a flashy car to seem rich. You want to invest in your appearance for your career? Invest in your clothing. Dress at least one pay grade above where you are now. A sleek wardrobe that fits is a smarter investment than an automobile that spends 95% of its life parked.
Keep your car payment as low as possible (or non-existent). $400-$500 a month will go further invested in stocks you believe in, in industries that you understand, than getting flushed down a motor finance drain. Buy a perfect black suit and a versatile cocktail dress that will pay for themselves, not a luxury car in which to sit alone in traffic. It’s for the birds – who cares about your car? (So millennial, I know.)
2) Keep your rent low
You’re young, you’re renting. Renting is okay. Renting is smarter than owning in many ways. A home is a liability, not an asset. Don’t feel pressured to own. Rent til you know. Enjoy your freedom. You can pick up and move to a new city anytime. You don’t need to mow a lawn or pay property taxes or acquiesce to an HOA.
(Bonus tip: buy a Tile so you can save time and money finding your lost keys or anything else you frequently lose. It’s a GPS tracker connected to an app. I’ve sworn by Tile for years. They make great office gifts, too. It’s $24.99 for 1 or $62.93 for 4 on Amazon.)
While renting, bargain with your landlord.
2a) How to lower your rent
A) Offer to post reviews in exchange for reduced rent or at least two years of controlled rent.
B) Offer to pay three or six months rent in advance for a discounted rate or 1-2 months free.
C) If you’re in marketing, offer to do some social media promotion for your residence in exchange for reduced rent. Don’t use your personal brand for this – spell out a contract defining the promotion.
2b) Another renting tip: document
Whenever an issue arises, politely document the hell out of it via email, and make sure they know that you have kept track. Don’t be a nuisance or threaten anyone, and be lavish in your praise for what these apartment managers do right. But whenever you do email about a recurring issue, simply point out that you have documentation of the same thing having happened before, listing the dates and/or attaching the details as a PDF or email attachments. Maybe you have no issues with your landlord, property manager, or neighbors – consider yourself lucky. Keep renting until buying truly makes sense for you, your career, and your goals.
3) The Budget Keeper
This one is a little controversial 🙂
Don’t do this on a first date.
Do be discreet.
When you go out, pack a hip flask. Some people will judge you and think you’re cheap. You’re not, and who cares what they think? You’re young, trying to save money, and you just cut your bar tab in half. Bars mark up liquor an average of 300-400%. Restaurant owners are the only employers who don’t pay their staff living wages and expect customers to foot the bill. There’s nothing wrong with bringing a little sauce to top off your drink, considering how expensive going out can be. Especially if you have a high tolerance.
Think of this as a backup plan / accessory. This tip allows you to control your spending without ending the night early. You’re busy being fabulous, maybe networking a bit, you go-getter! You may even make some new friends or impress old men who retired from the railroad.
Do buy something.
Don’t stiff the bartender.
Don’t get drunk.
Credit for the Budget Keeper goes to RickM. It’s not only a money-saver; it’s a throwback to a better time.
Let me know if you find these tips helpful. I’ll post more soon, hopefully in video format.
Innovation is a word that gets thrown around too often. Things have changed since Girl Scouts walked door to door with clipboards and pencils taking down orders that took weeks to process.
Recognized by Fast Company as #10 of The World’s Top 10 Most Innovative Companies of 2015 in Not-For-Profit, the Girl Scouts of the USA are keeping up with the times pretty well. But they could do better. The ubiquitous cookies are an obvious opportunity.
Mission: Girl Scouting builds girls of courage, confidence, and character, who make the world a better place.
Some local councils offer Digital Cookie. Ecommerce skills are important, but not innovative. The @girlscouts Twitter stream is socially conscious and feminist. That’s great too, but not innovative.
A growing crop of consumers are empowered to vote with their dollars, seeking products backed by social, political, and environmental responsibility. Millennials, the largest living generation at ~83 million, are what Scott Hess aptly calls conscientious consumers. Their annual spending is projected to reach $3.39tn by 2018, eclipsing Boomers. Millennials value health and brand transparency. Post Gen/Gen We (born since 2000) may prove to be even more invested in globalism, wellness, and pro-social companies.
There is a missed opportunity to set a meaningful example about both women in business and simply better business – modern, pro-social, pro-human business.
1) Role models: Thousands of women have created businesses from scratch, namely bakeries that use quality ingredients. Which of these company leaders would make a better role model?:
2) Ingredients: The Girl Scouts website advertises: “No hydrogenated oils” (false) and is full of misleading copy about how the cookies are wholesome.
Girl Scouts: Align your flagship activity with your mission to make the world a better place.
RFP the cookie business to socially responsible, natural bakeries. Why support Kellogg in stuffing us full of GMO bleached flour, addictive sugar, and cell-destroying oils? I’d rather buy a Trefoil baked by Karen Herrera’s Sugar & Flour Bakery (Etsy shop turned storefront) in Greendale, WI than worry what BHT and sodium acid pyrophosphate are doing to my body. I’d rather buy Samoas made with whole ingredients by Sara Fitzpatrick’s The Cupcake Shoppe Bakery in Raleigh, NC than a chemical cardboard biscuit shot out of a conveyor belt in the Keebler factory.
Meet consumers’ growing appetite for transparency and social good.
Now, those two small bakeries could not handle the national demand. So look at an innovative, more established company like Hampton Creek, upstart maker of foods that use plant proteins instead of eggs. CEO and social entrepreneur Josh Tetrick founded Hampton Creek because while working and teaching in Sub-Saharan Africa, he noticed serious issues with the global food system. Hampton Creek makes ready-to-bake JustCookies, which are sustainable and natural.
Consider two points:
1) JustCookies are sold at Walmart 2) Unilever (owner of Hellman’s Mayonnaise) was threatened enough to sue little Hampton Creek over their JustMayo product
People have begun to care more about what’s in their food, where it comes from, and how it affects the planet.
Organic, natural, sustainable, locally sourced: these are not fringe values or niche buzzwords. Look at the fire drill the fast food and sparkling beverage industries have had in recent years over obesity. People are waking up.
So let’s make the world a better place.
More About Ingredients in Girl Scout Cookies
ABC Bakers and Little Brownie Bakers, the two bakeries licensed to bake Girl Scout cookies, distribute varieties that contain nefarious ingredients such as partially hydrogenated oil (both) and high fructose corn syrup (ABC). While copywriters address this with the seeming transparency du jour, the deflection is pure marketing. It’s par for the course from Kellogg, the Little Brownie Bakers parent company, known for depicting happy healthy kids on its cereal boxes of sugary junk and currently struggling with declining sales. Fueling a long FAQ page claiming that palm oil is perfectly healthy is the assumption that the original 8-ingredient natural recipe is no longer feasible. Why not?
Fun Facts – Girl Scouts
Founder Juliette Gordon Low organized the first Girl Scout Troop on March 12, 1912, in Savannah, Georgia. (Happy 103rd birthday.)
Both varieties of Thin Mints are vegan (but contain partially hydrogenated oil)
Troop Beverly Hills, the fictional Wilderness Girls troop from the 1989 movie starring Shelley Long and a young Jenny Lewis, accepted American Express but preferred Visa.
The Digital Dive celebrates our 20th episode with a special video podcast. Millennials: scrutinized, fascinating, controversial. A bunch of overly coddled narcissists? Or the highly educated, tolerant, tech-savvy hope for our future? Our familiar voices can now be seen in action as we report on Yahoo’s acquisition of Tumblr and tackle the ever-controversial subject of the Millennial Generation.
I. In a bold move (that follows Google’s and Facebook’s acquisitions of startups in hopes of gaining an edge), Yahoo acquired Tumblr for $1.1 billion, Yahoo officially announced Monday, May 20, 2013. A popular social blogging hub for photos and funny gifs, and a major meme birthplace, six-year old Tumblr has ~900 posts a second with 300 million monthly unique visitors and 120,000 sign-ups every day. It also does not have a revenue model, much like Instagram, which Facebook acquired in 2012 for about $1 billion in cash and stock. Tumblr is highly mobile and has a young user base, in contrast to Yahoo’s older users. Tumblr could help Yahoo compete with Facebook and Google in the social networking space.
II. The Millennial Generation: In the wake of the controversial Time magazine article Millennials: the Me Me Me Generationby Joel Stein, we discuss some of the most prevalent complaints and praises of the most talked about generation since the Baby Boomers, along with a few surprising statistics about work ethic, narcissism, and tattoos.
InBowling Alone, Robert D. Putnam cites numerous statistics to illustrate the drop-off in Americans’ civic engagement and community participation since Baby Boomers’ parents were middle-aged (c. 1950s).
In light of such information, and the overarching question Putnam posits about changes in community, there are myriad theories one could substantiate about the replacement of physical communal interaction with modern online, redefined communities. I will focus on connecting one area: Middle-aged to older adults, (in their 50s and 60s) have traditionally been more likely than young adults to vote and to engage in various forms of community (from bowling leagues to garden clubs to signing petitions to campaign participation).
Americans are less active today in such activities than ever before.
Remember that with longer life expectancy and lower savings rates than previous seniors, Boomers are projected to spend an additional $50 billion over the next decade (via market-research firm SymphonyIRI). If your brand’s target audience is between 50-70 years old, maximize your use of Facebook and minimize your reliance on old ideas about this group. Be like Kimberly Clark: they spent two years overhauling the Depends brand to appeal to the anticipated higher demands of Boomers. By 2020, Kimberly-Clark expects 45 million boomers will need incontinence products, up from 38 million currently. Depends advertising: “We’re very subtle in that we don’t have to explain the problem and solution in the ads. Boomers like seeing the confidence part of it.”
It’s no shock that Twitter appeals to younger people. We have a tiny attention span of roughly 9 seconds (via Sally Hogshead – love Fascinate‘s goldfish book jacket). One hundred years ago, attention span averaged twenty minutes. This is no accident: People increasingly lacked the patience to sit through PTA meetings over the last five decades. The communal connections or friendships potentially garnered there were hit-or-miss depending on attendance and likability of your neighbors. Online communities that are targeted present little risk that you’ll struggle to connect with like-minded comrades. If the relationship is based on Twitter and never even leads to a real life meeting, it will still suffice to quench that community thirst. Although, Boomers might still need a bit more Facebook love. But the proliferation of Twitter, especially amongst those who will increasingly make up the majority of the population as decades pass, means one day marketers may fondly recall enjoying the 30 second attention span of a Facebook user.