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Closing the month with the theme of “Bridezilla Month”…
Courtesy of http://pdbb.wordpress.com
As Dolla Thug commenter “SO” mentioned on last Monday’s posting, and from what I’ve heard, the general rule of thumb is the price a man should save up to pay for his lady’s wedding ring should equal approximately 2-3 months’ worth of his monthly take home income. That’s a LOT of money. That’s easily a 3-month emergency fund!
So a man making my salary would expect to spend approx $8,000 on a ring (using 2.5 months’ salary as a guideline). I guess that sounds about right.
But…being the Dolla Thug that you’re all growing to know and love me to be, I might negotiate with him on some…“How about you spend $3,000 on my ring and I’ll use the remaining $5,000 to pay down my student loan debt Continue reading Put A Ring On It (Part 2)
It’s June – the month of Bridezillas…and it’s about to get ugly…get ready to comment ladies!!! (and gentleman, I want to hear from you too!)
Courtesy of http://gossuk.blogspot.com
WHAT WOULD YOU DO WITH $30,000.00? A friend of mine mentioned that a good friend of hers recently got engaged and that her ring cost $30,000 (how she knows this as fact, I don’t know – but let’s just take her word for it). My friend also mentioned that she expected for her future fiance (whoever he may be) to be able to give her a ring in that price range, as well.
My immediate thoughts were somewhere in the range of: “Does she really think her engagement ring should be worth the price of a down payment on a home???
…really?
…REALLY???
No. It’s realllly not worth it!”
Instead of voicing these thoughts, I probably just smiled and nodded and masked my disgust. Please don’t fall into this materialistic trend and base the value of his love on the cost of the ring. Seriously, that’s just STUPID!!! Continue reading Put A Ring On It?
Is the Jones’ income affecting the satisfaction you have with your own income?
Image courtesy of Dylan Taylor.
THAT GUY
When talking with your friends about how work is going, have you ever thought to yourself, “I WISH I made as much money as him!“ Come on…we all have had that moment (or moments). I do this, too – I’d probably be happier with my current job/income if I didn’t know people who started in the same place as me but are now currently working for 50% more money than me in better jobs. It’s very frustrating.
But on the other hand, I know others who started in the same place as me and have not made my income when they’ve probably worked just as hard as I have. That’s the way life goes, I guess…but make your own destiny and you won’t have to worry about how other people are doing, right? Right??? Continue reading Jealous of the Jones?
What are you willing to sacrifice for higher pay? What are you willing to gain for lower pay?
POVERTY: LIVING BELOW THE “TIME” LINE Many people I know from college started out in the workforce with NO life but very HIGH income (plus a sexy bonus) and were absolutely…miserable. They often claimed that they would have loved to take my work-life balance over their salary any day (operative word “claimed”). According to Yahoo Finance writer Laura Rowley, they would be considered living in “time poverty.” They were making excellent monetary income, but never had the time to enjoy it (even their weekends were either spent in the office or recovering from the office).
TIME AFFLUENT I was not making as much money as my time-impoverished colleagues, but I was rewarded with full nights of sleep, weekends of freedom, and a much less stressful work environment that lasted only 5 days a week (not 7!). Continue reading Time Poverty
WELCOME
Hello. With this blog, I bring to you the knowledge that I have equipped my mind with via books, internet, tv, media, and fellow personal finance blogs. My credentials in the world of Personal Finance include:
- an undergraduate degree from the Wharton School of Business,
- a budding career at one of the most respected financial services companies in the world (which will remain unnamed),
- volunteer work with organizations such as Junior Achievement, Citi, and New York Urban League.
HOWEVER…
I have an alter ego. Her name is Dolla Thug. Dolla Thug???
Yes. Dolla Thug.
No, I’m NOT a rapper.
I’m just passionately obsessed with personal finance and very assertive with how I spend, save, and invest my money. I’ll write an article about how I got this name later…
GOAL
In this blog, I’ll give it to you straight. I won’t sugarcoat things. If you ask me a question about a financial matter, I will give you the most financially savvy answer I can and will direct you to the website that can provide more information. I want this site to be an open forum and I welcome challenging questions, thoughts, and ideas. So feel free to COMMENT, please!
DON’T BELIEVE THE HYPE
Dolla Thug is here to challenge the laws of consumerism and marketing propaganda that has been fed to you since birth!
TO EACH HIS OWN
In case we have differences of opinion, I try very hard to not come off judgmental or condescending in any way. When it comes down to it, your money is your money. My money is mine. What you do with yours is your business.
BOTTOMLINE
I have a frugal-focused opinion aimed to get you to at least THINK about the opportunity costs of frivolous spending. For some, that opportunity cost involves their emergency fund…or the ability to afford the purchase of a home…or the ability to EVER retire…Whatever it may be, there is a cost to every financial decision we make in life.
DISCLAIMER For the record, I am not a certified financial advisor of any kind and will not be held legally responsible for any misuse of the content of this site.
So ask yourself…do you have a lil Dolla Thug in you?
To contact me with any ideas, questions, suggestions, or feedback please email: dollathug@dollathug.com
Or: dollarthug@dollarthug.com
For the record, I am not a certified financial advisor of any kind and will not be held legally responsible for any misuse of the content of this site.
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