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The March issue of Real Simple magazine contains a great article by Elizabeth Fenner about solving your biggest money worries. She writes:
For many of us, “manage finances” is right down there with “clean out the basement” on the bottomless to-do list. We put it off until life is less hectic…Well, help is here. Real Simple polled readers on the financial matters that worry them most, then created a completely doable, low-stress action plan for dealing with each irksome issue, from over-spending to underbudgeting.
Fenner tackles six worries. For each she offers advice on what to do now, and steps to take in the long-term. The top-six financial concerns of Real Simple readers?
- I spend too much. Arrest your spending by using money hacks: avoid advertising, change our daily habits, and carry just one credit card. (I’d say that if you have spending problems, you should leave them all at home.) Consider a cash-only lifestyle. Read Your Money or Your Life. (And read Free Money Finance.)
- I save too little. Set goals! Fund your retirement. Open a savings account and make automatic contributions.
- I’m frustrated by high gas prices. Make friends with GasBuddy. Drive a fuel-efficient car, and treat it well.
- I don’t know how much to save for retirement. Take advantage of any plans your employer offers, such as a 401(k). Spend some time playing with a retirement calculator.
- I need a budget. Fenner shares great advice from my buddy JLP at All Financial Matters: Track every penny you spend. “That’s the only way you’ll know where your money is going,” he says. Sign up for a free online money-tracking program like Wesabe [review], Mint [review], or Quicken Online [preview].
- I need to develop a financial plan. Talk to three people you know and admire who are diligent about money, advises Fenner. What else? Read Get Rich Slowly (yay!) and find a fee-only financial planner.
I like that Real Simple is offering solid personal finance advice. (I also like that Fenner mentions three members of the Money Blog Network!) Sometimes I feel like financial education is a losing battle, but articles like this give me hope.
Though the online version of Fenner’s piece captures the core advice, the magazine layout also profiles four women: a frugal giver, a generous mom, a fashion lover, and a recovering shopaholic. A certified financial planner looked at their spending and offered advice on adjusting their budgets. It’s fascinating to see how other people live.
As a side note, I’m grateful for the time Fenner took to speak with me in October about how traditional journalism works. She called to talk to me about frugality, but put up with my questions about writing for magazines.
[Real Simple: Your biggest money worries, solved]
.jpg "The Money Blog Network - Improving your bottom line")
February 22nd, 2008 at 5:43 am
Congratulations on the mention! You’ve made this blog into a good resource for information AND a continuing source of motivation, which (hell if I know, but) I think is probably how you succeed in this field. Keep up the good work!
February 22nd, 2008 at 6:14 am
It’s so nice to have GRS as a reliable resource for financial education material. As a recent college grad out on my own, I’ve obtained so many tips from this blog that have helped me make sense of my finances and savings-related goals. (Esp. “How to start a Roth IRA)
I’m looking forward to many more informative posts like this!
February 22nd, 2008 at 7:58 am
While this is a useful article, in general Real Simple is a crock that trades on simplicity’s good reputation. It’s all about high-end buying stuff just to manage all your high-end stuff. Like simplifying your life by buying 6 of the same cashmere sweater styles you like.
I realize magazines have to promote product to sell ads, but this particular magazine really irks me, since it’s so undermining of the true voluntary simplicity spirit, which is all about editing. That means cutting out the excess, not just organizing it in cool, costly, plastic bins!!
February 22nd, 2008 at 8:15 am
From talking to people at work and elsewhere, I get the impression that the vast majority of people don’t manage their finances at all, or manage them very simplistically. Beyond simple paying of the monthly bills that is.
Hopefully more and more articles like this will cause that to change for the better.
February 22nd, 2008 at 8:46 am
Your last two posts were excellent, and they got me thinking about growing up in a family of business owners. When you are around people that look for financial improvement and opportunity, it rubs off. I always had Barrons, WSJ, Money Magazine, and financial planning books on my coffee table. Our dinner conversations were always about the future, running ideas past each other, and reviewing successes and failures. Surrounding yourself with the right kind of people (insightful, money-smart, centered) is not a conscious effort for most people, and really it should be. When someone tells me they read a book on Warren Buffett, I ask if I can see their notes, and when they look at me strange, I show them mine. You cannot be passive and learn effectively. You have to apply what you pick up from life’s mentors.
February 22nd, 2008 at 10:19 am
It surprises me how many people are exposed to great advice, but still do nothing to help themselves. Even with an annual presentation on our company’s 401k and the importance of rebalancing, few people actually took the time to do it.
February 22nd, 2008 at 10:31 am
My car was always involved in my lack of financial well-being. Figuring out ways to minimize car expenses from raising car insurance deductibles to maintaining it to buying a car that lasts for a decade all have helped me out tremendously…
February 22nd, 2008 at 10:35 am
Congratulations on the well-deserved mention. I’m looking forward to reading the print version of Real Simple this month as well (I think my wife subscribes to this, so it ought to be around the house somewhere).
February 22nd, 2008 at 11:13 am
What betsy (#3) said. I want to like Real Simple, but I can’t stand that it’s simply posing as a magazine about simplicity. Sometimes I’ll pick it up at the Dr.’s office, because it has pretty pictures of well-organized stuff, but I just have to laugh about how expensive it is to “simplify” their way.
I’m glad they’ve included some useful info that can actually reduce stress without pulling out a credit card.
February 22nd, 2008 at 12:29 pm
I found this article to be very interesting. Though we can’t do much about the gas prices, there are ways to help with spending, saving, and budgeting. I like the UPside prepaid reloadable Visa card. Unlike a debit card from your bank (which many allow overdrafts, getting you into even more debt), you are only able to spend what you put on the card. You are able to fund the card periodically or automatically with allowance schedules, from family, friends and employers. And with multiple plans to choose from, you can find a card that fits you and/or your family’s lifestyle, as you can get the card for yourself or one for family members that are either already in need of debt-help or you would like to teach healthy financial living to, like your kids (as young as 13 years of age).
Check it out at: http://www.upsideclear.com/?sponsorship=ecairn1
February 22nd, 2008 at 5:09 pm
There are actually quite a bit of free resources on traditional journalism even web-based classes for free. Check out http://www.poynter.org. Their site includes a lot of courses and basics online on how to write a news story, sources and the different types of writing.
The NWW (national writer’s workshop) has courses or one-day workshops in feature writing or other types of journalism usually in the summer in portland.
mediabistro.com is another good resource for getting into the magazine writing field.
February 23rd, 2008 at 3:40 pm
I too caught the irony of Real Simple’s preaching about frugality. Their entire magazine (which is overpriced and printed on cheap paper) is about buying more crap and which crap is the best to buy. It seems like more of a catalog than a magazine.
February 25th, 2008 at 1:18 pm
I just wanted to say congrats for the mention in Real Simple. And for the mention in Portland Monthly, which I noticed on Saturday!
February 25th, 2008 at 6:03 pm
I totally agree with Sophie re: Real Simple. It’s one of those magazines that parades as one thing and actually is something else completely … catalog is a pretty accurate description. The publishers and their advertisers are hoping that you will think that you have to have their products to achieve the sleek, uncluttered look. I subscribed when it first came out and had to unsubscribe after a few issues. It tired my brain trying to get through each issue so to me it seemed anything but Real Simple. Nice that you got a mention and some publicity though!