My newest obsession: Getting in shape January 22, 2012

A lot of people made new years resolutions.  Many centered around getting healthier.  And I’ve decided that I’m going to jump on the bandwagon.

I guess the other big resolution a lot of people focus on is getting a handle of their finances, paying off debt, etc.  I’d like to think I have the money thing under control.

So, getting fit.  Getting in shape.  Losing weight.  Eliminating muffintops.  Whatever you want to call it.  I’d like to think I’m ready to tackle this.

I’ve set some goals.  There’s a weight goal.  I’d like to be closer to 125lbs.  I also want to go to the gym at least twice a week (to start).  I want to be stronger.  I want to be able to jog/run a 5k and finish in the top half of the results (the times I’ve done 5ks have been jog/walks where my time is on one of the last pages).  I want to eliminate the chubbiness around my middle.

Okay, I have a lot of goals.  Maybe too many all at once.  I’ve gotten all excited about getting into shape before, only to burn out and end up wasting having a gym membership (a scandal for the personal finance world and the fitness world alike!  Luckily I don’t have a horribly high membership fee…but still!)

But as you know, there’s one thing I love when it comes to personal finance:  tracking websites.  And the same holds true for my new fitness goals.  Yes, tracking has failed before, but I think I’m gaining motivation and momentum by having accounts at so many places

I joined LoseIt.com after a few people told me how much it was helping them lose weight and control what they eat.  They also have apps for iPhone/iPad/iPod touch as well as Android (and apparently on other gadgets like the Nook and through the Amazon App Store), if that’s more your thing.  I don’t have a smartphone, so I’ve stuck with the website.  What I like about this site is that it gives you a calorie budget, and you can track your food and exercise, and it has a pretty comprehensive database of calorie content (for food) and calories burned (for exercise).  It even has Wii Fit exercises!  You can add friends on the site and for mutual support.  And you know how much I like sites where you can earn badges (like Payoff.com), and this site awards you badges for accomplishments, like sticking with the site for even a few days  (little stuff to keep you motivated), to losing 10lbs, to working out multiple times a week.

What else am I using?  Well, work is again sponsoring a website that encourages you to get in shape.  I’ve formed a team with my coworkers, and we’re going to be competing in the weight loss, exercise, and pedometer steps categories.  We’ll be tracking our progress in those categories.  I like having a team with my coworkers, since we’ll be supporting (and nagging) each other to eat healthier and get some extra exercise.

The rest of my websites are connected to my iPod Nano.  One of the cool features of the latest generation Nano is that it has a Nike+ sensor/pedometer built in (no shoe widget required).  So I’ve been able to track my runs and steps (recorded as Nike Fuel) through their online sites.

I’ve used MapMyRun on and off for a few years.  So one thing I’m excited about getting back to using it is that it will sync with my Nike+ runs and record them automatically.  So that makes things easy

And lastly, I joined Earndit, a site that syncs with many of the tracking services (like Nike+, Fitbit, and others) and allows you to earn points, which you can spend on rewards.  I like earning points and rewards!  They also have challenges sponsored by fitness-related companies from time to time with prizes available to the best scorers.  And even if you don’t have any of the supported devices, if you have a smart phone, you can earn points by checking in on Foursquare when you go to the gym!

So, yes.  I’m using a lot of different websites.  That’s how I roll.  But other than using a million websites (and posting inspirational images/informative posts on Pinterest), I am committing myself to the habits that will get me towards my goals.  Watching what I eat, replacing unhealthy food with healthy food, going to the gym for cardio, weights, or yoga a few times a week.  Walking to nearby places instead of driving.  The little things that can get me to where I want to be.

I’ve also made goals to reward myself for good behavior.  Like buying myself a FitBit Ultra after my Nike+ running log says I’ve gone 50 miles this year.  I’m not there yet, but I’ve heard really good things about the FitBit from others (like Elizabeth and Kristen), and it also works with the websites I mentioned above.  Basically I like data.  So the more data, the better.

So, what do you use for motivation or tracking your weight loss/exercise/fitness?  Are you members on any of the sites I mentioned (want to be friends with me on there)?  Do you think I can actually get in shape this time?  Or am I starting out too intense and will just end up lying on the couch eating ice cream?  The past few weeks have gone relatively well.  Only time will tell.  I’d love to hear about your fitness techniques!  Please share your advice!

(FYI, I’m linking to all these sites merely as recommendations.  I am not being compensated in any way for mentioning them.  Though if they’d like to give me some free stuff, I’ll take it  and then of course I’d update this disclaimer)

The Approved Card? More like the DIS-Approved Card! January 11, 2012

Yes, I resorted to a Billy Madison pseudo-insult.  I do that sometimes.  But really, it’s the only way to start off this post. With a little bit of humor, before I tear into what may be my “meanest” blog post ever. Maybe.

On January 5, I got an email from Suze Orman. I don’t remember when I signed up to get emails from her, but that’s not the point. She alerted me (and all her other email subscribers) to her People First Movement, set to kick off on January 9th. Well, I can’t say I marked my calendar, but I was curious about what “new financial product” she was excited to tell us about.  I figured she was referring to another financial tracking website.  You know how much I love those

January 9th rolls around, and my inbox is blessed with another note from Suze.  She was offering a new pre-paid debit card.  I remember reading that email, and I’m pretty sure I said something to the effect of “HELL NO!” before closing the entire web browser in anger and disgust.

But seriously, I was kind of taken aback.  Suze Orman’s offering a pre-paid debit card.  On the one hand, I think it’s good that she’s making a pre-paid card that, on the surface, seems to have fewer fees than other pre-paid cards, assuming you know exactly how to get around most of them (http://theapprovedcard.com/fees/ for reference), but I still haven’t accepted the basic premise that some individuals can’t get even the simplest bank account, and must resort to using a pre-paid debit card.  I might be out of touch, but shouldn’t a credit union or bank be willing to offer a no-frills bank account?

Then there are the three ways to re-load the card: direct deposit, transferring from another account, or paying Western Union or MoneyGram $3.50 to add cash to the card.  All three of those seem like perfect reasons to NOT get the pre-paid debit card:  If you get direct deposit (from a paycheck), you can probably get a bank account.  That’s usually what banks like to see when opening accounts.  If you have another bank account, couldn’t you use that instead of a pre-paid, fee-laden card? And if you’re using cash, why pay $3.50 to load the cash then a $3 fee per month to use it? (except perhaps if you wanted to keep your cash safe in the non-bank account).

Ron Lieber posted a follow-up about the card, having asked readers for possible good reasons to get the card.  The three he lists here include: being unwilling or unable to get a bank account (for any number of reasons), as a budgeting tool to limit your spending to a set amount, or as a pseudo-checking account for kids.  I guess the other option is if you need to do online transactions or rent a car/book a hotel/flight etc., you’d need either a credit or debit card for payment.

The whole FICO score aspect of this is confusing, too.  It’s unclear (at least to me).  It sounds like she’s offering a free year of credit monitoring/scores/etc. from TransUnion.  Which is basically what you get from CreditKarma, but without having to use her pre-paid card.  Then there’s The Credit Project, where you can volunteer to have your transaction data sent to TransUnion, so they can decide if they maybe in the future want to include pre-paid debit cards in credit scores/reports.  I don’t have much faith that a credit agency is going to change any time soon.

Anyway, that’s a long enough rant. I just am always wary of these pre-paid cards, they seem to take advantage of people who already have trouble with money.  And it seems like Suze Orman is abusing her power as a “personal finance expert” in getting people to sign onto something that may not be in their best interest.  I know a lot of other people have posted their (negative) reviews of the Approved Card.  Let me know if you wrote one, and I’ll link to it!

I want to just finish this by saying that, usually, I’m okay with Suze Orman.  One of the books I read when I was first figuring out this whole personal finance thing was her book Young, Fabulous, and Broke.  And I enjoyed her keynote speech at the Massachusetts Conference for Women in 2009.  I just think that this is a bad move on her part, using her fans’ trust for financial gain.

2011 Year in Review: Networth Update, Looking Back, Looking Forward January 1, 2012

Happy New Year!  It’s 2012!

A year ago today, I posted some numbers.  The changes in my finances in 2010.  So it’s time to see how I did in 2011!

How much did my assets and debts change this past year?  Check it out:

Assets:

• Liquid assets (checking and savings accounts):
  +$15,101 (would have been ~$4k higher…see student loans below)

• Retirement (401(k), Roth IRA, Rollover IRA):
  +$12,235 (the stock market is still a little crummy.  But I did increase my 401(k) contributions to 7% as of the end of November)

• Car (edmunds.com private sale value):
  -$626 (I know there’s a lot of debate over including cars in net worth calculations.  I initially included it to make myself feel better about my auto loan, to balance out the ugly dip in my net worth)

Debts:

• Student Loans:
  Reduced  payoff balance by $11,142 (it definitely helped to throw $4k at one of them!)

• Car Loan:
  Still $0!  It felt so awesome paying off my car loan 3 years early.

• Credit cards:
  I pay them off every month, but if I want to be exact, I have $446 more to pay off as of December 31, 2011 than I did on January 1, 2011.

Change in net worth since last year:  +$37,386

Not as high as last year’s change of +$43,140.  But I’m still pretty impressed.

Let’s review this year!

I read a bunch of personal finance books, including Generation Earn by Kimberly Palmer and Get A Financial Life by Beth Kobliner  I did read the Personal Finance Book Club book, Shortchanged: Why Women Have Less Wealth and What Can Be Done About It by Mariko Chang, but never got around to reviewing it.  You can check out reviews from Savvy Working Gal and Little Miss Moneybags.  I am also halfway through John C. Bogle’s The Little Book of Common Sense Investing.  Spoiler alert of anything you’ll read by Bogle:  Buy low cost index funds and hold them forever.

We moved!  We used to live in a 4 bedroom apartment with roommates.  Now we live in a smaller apartment, just the two of us!  It costs a bit more to live in the new place, but it was time for a change, and we love our new apartment!

I’ve checked out a few personal finance websites.  Though I’ve tried more, I only reviewed Payoff.com and Credit Karma.  I’m a fan of both!

I tried again to get Take Control of Your Finances Day up and running.  Hope to get even more support this year to help spread it!

I started a blogging series:  My Friends are Buying Houses.  So far I just have 2 posts, but I welcome more!  Let me know if you’re interested in posting about your homebuying experience (or why you’re not buying a house yet!)

I guess there were a lot of other things that happened on my blog (and in my life) this year. You know, like paying $4k towards a student loan.  But you’ve heard about that a few times now

Reading last year’s post is funny because I realize not much has changed when it comes to my personal finance tendencies.  I’m still wishy washy about my decisions (personal finance or otherwise).  And still paying down my loans with occasional lump sums in addition to the monthly payments.  I also thought it was funny that I debated doing a $4k lump sum payment.  Which I ended up doing!  I didn’t even remember that part of the post!

So looking ahead.  Should I make the same goal I made last year?  Take the gains in my liquid assets and apply them towards my loans?  $15k would eliminate a few of my loans!  Hmmm.

I don’t have any big plans for this year (as of yet).  Maybe we’ll finally go on a big vacation (we’ve been talking about taking one for years).  That would cut into the liquid assets a bit.  But we haven’t gone on a big trip since Nicaragua in 2007 (unless you count all the weddings we’ve gone to).  We’ll see.  For now, I’m just going to relax for the last few days of my vacation, and meditate on my future goals.  I’ll try to make (and actually meet) some resolutions/goals soon!

Happy New Year!

How was your 2011?  What were your main successes?  What are your top resolutions for 2012?