Finance 102: Credit Score

What is a Credit Score anyway? Damn you Equifax!

• I realized I wrote an entire segment on getting a credit card, and even mentioned credit score... but did not explain it. 

• Also, if you are abreast of current events, you may have heard that one of the big 3 credit agencies, Equifax really screwed the pooch. 143 million pooches.

1. What is a Credit Score?

Well there are these things called credit reports, these reports keep track of:

• Payment history
• Total amount owed
• Length of credit history
• Types of credit
• New credit

In a nutshell, did you pay back your debt on time? This could mean student loans, cards, anything where you have accrued debt. 

From these reports, you get a Credit Score, calculated similar to how you'd get a GPA.

2. Who Does All This?

The big three: Experian, Transunion and Equifax

• These are United States credit agencies that do our credit reporting
• Do they all calculate it exactly the same? No, but, pretty much

3. What is a "Good Score"?

• Excellent: 750 and above
• Good: 700 to 749
• Fair: 650 to 699
• Poor: 550 to 649
• Bad: 550 and below

4.  What Happened with Equifax?

• One of the big three, Equifax, was hacked in July 2017 potentially exposing the data of 143 million Americans. Yes, the people who have your entire history, were hacked- 
• Equifax has not be clear about next steps and isn't giving much consumers to go on
• Best Advice: call each of the big 3 and ask them TO FREEZE YOUR CREDIT
• Freezing your credit will ensure that someone with your stolen information can't take out a loan or get a mortgage in your name (or any other crazy shit!)

5. How do I get my Credit Score?

• You can request a free credit report from the big three once per year

Questions? Please comment.

Food & Wine 101: Pretending You're a Sommelier

Food & Wine: 101: Easy Food + Wine Pairing Tricks that Make You Look Good

Imagine you are on a Tinder date, the waiter brings over the wine menu, your date says something casually such as "oh I never know what to order..." Shwing Shwing - You're about to lay down some vino knowledge...

I am definitely one of those people who orders wine, and when the waiter returns with the bottle, pouring a taste into my glass, I sit there and pretend like I know what I just ordered. I lift my glass slightly, sip, bash my eyelashes a little, and say "oh yes, that will do." But in reality, I just want some damn wine.

However, in my 30 something years, I have overheard people smarter than I, lay down some excellent advice on easy wine pairing tips. I have also done a little research of my own:

Trick #1 - Match the Wine Color to your Food's Color

You can use this trick especially if you know what food you are ordering or making in advance. For instance, the darker or richer the color of your food, color match the wine with a dark red like a full bodied Cabernet or a Sirah.

• Reds: Red Bolognese Sauce, Steaks, Lasagna, Stews
• Whites: Chicken, Mac & Cheese (and other white pasta), Pizza and of course the ultimate adulting food Grilled Cheese!
• Light Reds / Rose: Pork Chops, Tuna Steak, Salami/Proscuitto

Having a salad? White wines have a tinge of green as well - but you can also use the accent colors in salads to help you - heirloom tomato salads have reds and pinks, Cobb salads have white chicken and cheese etc.

Trick #2 - Sauce!

Most meals have some sauce on the side - so you can use that as a queue to wine selection as well. Sauces like ketchup have the main ingredient of vinegar, which is acidic/salty, and because white wines are very acidic, you may want to counter the taste with a darker red -

• Mayonnaise - a light sauce, can be better balanced with a zesty white! (maybe a Pinot Gris)
• Soy Sauce - super salty, pair with a sweet wine
• Ranch - tangy but mellow, goes well with a Chardonnay white

Basically, judge the level of acidity in the sauce, then choose a wine that counter-balances that acidity.

Trick #3 - Know Your Geography

This is a last resort trick, but can help you if you need to make a decision rather quickly 

Use the food's country of origin, look at the wine menu and try to match up.

• Italian Food like lasagna? Pick an Italian wine
• Cheese Plate? Choose a French wine
• Hamburgers & Fries? California Red will do just fine!

And that's it! Reminder: these tricks are just that, shortcuts in a jam. 

For more sophistication check out winefolly.com or other serious food blogs :)

Please feel free to comment! 

Networking 101: Every Introvert's Nightmare

Networking 101:

When I moved to the west coast in 2012 I literally knew no. one.

I am naturally, a very shy, not outgoing personality type. So I really had to step outside my comfort zone in order to:

1. Get a damn Job
2. Make Friends
3. Find Roommates (at least this was me at the time)

"Networking" was a word that sounded like it was for fun people. Or the type of person who randomly talks to strangers while waiting for the 'walk' signal.

So I had to adapt. Here is how I learned to network (and feel free to add to this):


1. Be Yourself

• I know this sounds cheezy, but it works. Like I said, I am more of an introvert and assumed that I wouldn't meet people like me. Wrong! I found just as many people who were on the quieter, shy side that I bonded with quickly because we saw that trait within each other

• Be yourself, but be willing to get uncomfortable too. If you find yourself in a conversation where the topic isn't particularly interesting, or you feel to have nothing to contribute, stick it out. People like being listened to and their appreciation for your eye contact and patience will come back to you - unless the guy is a weirdo

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2. Nuggets 

• Whether you're engaged in a conversation already or simple eavesdropping, listen for nuggets or buzzwords that can get you in.
• For example, I once was at a nail salon and overheard two women talking about how they were understaffed at their workplace. They were discussing the job title which sounded like something I had been applying for. I waited for the appropriate time to butt in with a big smile and ask if I could inquire about the job. I walked away with both their business cards.

• Nuggets can be non-business related as well. Most people actually prefer not to talk about work, so even if you are not networking for a job, it's better to start the conversation with some light nuggs instead of perhaps the heavy duty stuff.

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3. LinkedIn / Informational Interviews

• For those of you looking for career networking, do not discount the power of the almighty internet. Create and LinkedIn profile and find your future boss. 

• Just don't start a LinkedIn conversation by saying: "Hi my name is ____ I'd like to have a job now, thanks..." Message your new LinkedIn friend asking if they would have time to give you an "informational interview" aka explain the line of work you are interested in, and if they could answer a few questions via email or phone?
• Best case scenario, they agree to meet with you over coffee (but this may take a few messages), this could lead to either a job or some really good advice

• LinkedIn is career Tinder, so do not be disappointed if someone doesn't respond, and don't harass people, it's creepy. Also, no matter how big the city, people talk.

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4. Sometimes, you HAVE to be that Weirdo in the Corner

Yes. It must be done. Depending on how desperate you are. 

Yes. I have done it.

Get a book and get to the coffee shop or the wine bar... 

• I have done this when I was trying to get a feel for my new neighborhood. At 4pm or so I made my way over to my local watering hole that seemed fairly clear of dingbats on a regular basis. I ordered a glass of wine and ended up chatting with the bar tender who knew the WHOLE scoop of the neighborhood. I literally had one drink and walked away with good info.  

If you go this route, bring something with you like a book or laptop. It's your prop in case you need to look cool or escape. 

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Finance 101: Choosing the Right Credit Card

Credit Cards 101:

There is a time and a place for everything in the various stages of adult life, and having a credit card is something you should think about early on. Which clearly I did not, hence why I am doing the research now.

Credit Cards, those scary thin pieces of plastic, can actually save your ass later on in life when you're in need of a credit check. The key is to pay. them. off. 

Paying off your credit cards will leave you with a good credit history which can set you up for a loan, mortgage, apartment, and clear background checks.

In my research, I have found that a certain credit card can serve a certain purpose depending on where you are in life:

1. College: A Card for the College Kids 

For you kids still in school, or even high school graduates who have earned the right to get in some good old fashioned American debt, here are some suggestions:

Use a Local Bank - since you likely have not built up a credit score, your best resource may be your local bank. They may have known you or your family for a while now; if you have an existing savings account there etc. any may be able to advise you best

Card w/ No Annual Fee - annual fees are likely not in your budget

Low APR - of course, every human wants this: a low 'annual percentage rate' (APR), this is a charge made to you if you do not pay your balance off on time. 

• Say you bought burritos and beer and put it on your card, and oops, you forgot to pay off your card that month. Welllll the credit card company is going to charge you interest for not paying them on time

Skip the Rewards - The credit cards that offer reward programs which can be enticing, usually have higher APR's which could catch up to you. 

Recommend: Discover it® - "card for students"

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2. Youngish Adults: Post Grads, "Working Adults", 20-30 something year olds

For those of us who have either a full-time job or a couple of part time jobs, you have what is called "income" and although it may not be much... you are more likely to pay off that card.

Cash Back - Believe me, I do not have one, but I need one. 

• If you are working in a city with good coffee/buying lunch every day/living for happy hours .. you will likely reap the benefits of a cash back card if you pay for these daily purchases with a rewards card. 
• Since younger folk usually have a broader array of stuff they are buying, they are likely buying stuff within those "Bonus Categories".
•  -- Let's talk about those real quick: A lot of cash back or rewards cards will fulfill the cash back promise, but have rotating categories (gas, restaurants, etc) where the card can be used only at certain times for certain purposes. 
• If you are a young professional who pays your card balance online, you are likely to be more on top of the bonus category schedule. (I am not, hence why I do not have one, but most of my responsible friends do)

Skip the Travel Rewards Cards - Unless you are traveling A LOT, or your putting business trips on your personal card and getting comp'ed by your company later

Recommend: Chase Freedom

Security: I have a Chase Credit card and have found them to be almost annoyingly secure in making sure I am not a victim of fraud. But, hey, better safe than sorry. 

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3. Retired Adults: Empty Nesters, Retirees

As someone who has recently had some family members go through this, I can safely say I was very, very envious of their card choices. Here are folks that are likely paying their bills every month, can afford a yearly fee, and don't really need to worry about APR.

So my advice is.. TREAT YO SELF! Your credit rating is probably bomb by now (hopefully)

Cash Back + Rewards: Dooo it. Why not? Well, ok. Don't go too nuts now, because if you are indeed retired then you may be on a fixed income. So make sure when you are looking at reward cards you are smart about it. 

• For folks that are enjoying things like golfing, they likely aren't going to pay too much attention to any cash back bonus categories. So I'd recommend settling for maybe a 1% cash back bonus program so you can enjoy your time of leisure and not worry about if you bought gas with your card this week.

0% APR Introduction Offers: If you are planning on retiring, or slowing down. You are likely putting bigger than usual purchases from time to time. For example, cruises, vacations, a new set of irons.

• Take advantage of a new card that offers a 0% interest within the first year or so - make a big purchase and pay that puppy off in small increments interest-free.

Recommend: Citi Double Cash

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So there you have it, my first recommendation to starting your adualting journey.
If you have any comments or suggestions please feel free to share in the comments!


Sources:
Nerd Wallet: https://www.nerdwallet.com/blog/credit-cards/chase-freedom/ 
US News: https://creditcards.usnews.com/discover/discover-it-for-students
CS Monitor https://www.csmonitor.com/

Introduction to: "Help I'm 30ish" #adulting for Beginners

Help is Here! (Sorta...)

If you are anything like me...

→ 30 something years old / single-ish / attempting to adult ←

Then you have come to the right place

Current Mood

As a 30 something myself who is slowly facing the fact that I have responsibilities, I have always prided myself on figuring shit out the easiest way possible. If it's something that sounds complicated.. it usually is (at least to me).

In this blog, I hope to help others (and me) develop easy 1, 2, 3 steps to adulting.

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For example:

• What is a 401k? What's the "k" part all about?
• How do I brew coffee when I no longer can afford Starbucks?
• Balance a checkbook - my parent used to say things like that
• Parallel Park - yes.I am still learning this
• Not yawn when talking to boring people

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I invite you to master adulting alongside me. I promise to break things down into simple terms because clearly, I need this too.