When (And How) To Try Refinancing or Consolidating Student Loans

Friends, does this sound familiar?: You’re describing the crushing emotional and financial burden of student loan debt, and the grown-up you’re speaking to says something like, “Wow, that sounds really rough, have you thought about *refinancing* and also ma’am this is a Wendy’s??”

And having no idea what the fuck that actually meant, you drove forward to the next window, dabbing at your eyes with the crumpled receipt for your vanilla Frosty, weeping in confusion and sadness and brain freeze?

I knew it. I knew it wasn’t just me!

Yes that’s right, my lambs: we’re talking about student loans again. This time we’re discussing your options for refinancing or consolidating student loans.

What the fuck do these mysterious terms even mean? What’s the difference between the two? How do you know if one is right for you—and if it is, how do you actually do it? Be amazed as we reveal the secrets!

Read More
Season 2 Episode 12: "I work for everything while my peers lead carefree lives. How do I control the resentment?"

Season 2, Episode 12: “I Work for Everything While My Peers Lead Carefree Lives. How Do I Control My Raging Resentment?”

IT’S THE SEASON FINALE! And we’re ending it with a bang. Obviously by “bang” I mean a meditative quest to free oneself from the bitterness of resentment as we navigate this unjust and inequitable world. Because come on, it’s us!

The tl;dr of today’s episode is: comparison is the thief of joy.

If you’re constantly comparing yourself to your seemingly more successful, productive, and flush with cash peers, it can be majorly discouraging. We’ve talked before about why you shouldn’t hold yourself to the standard of the uber-successful, or why you shouldn’t long to splurge before you’re ready.

But one of the many, many horrible features of this global pandemic is that it’s becoming harder to avoid comparison. The internet—where we’ve all been forced to work and play while social distancing—is chock full of productivity porn and highly edited content specifically designed to make you feel like you’re not doing enough. Like you’ll never be enough.

So today on the podcast, we’re addressing how frustrating and hard it can be to stay motivated and encouraged when your peers seem to be crushing it… and you feel left behind in the dirt.

Read More
S2 E11: "I tripped and fell into a career I don't like. How do I reinvent myself?"

Season 2, Episode 11: “I Tripped and Fell into a Career I Don’t like. How Do I Reinvent Myself?”

If you’re new here, let me get you up to speed: personal finance is personal. And as a result, it’s also often complicated—a Choose Your Own Adventure with multiple right answers and mitigating circumstances.

Which is why it is so easy to feel stuck in your career or financial journey. What do you do when you’re just fine… but you want more? How do you overcome crippling stagnation? How do you justify leaving the safety of your established, safe career… and risk everything to leap headlong toward your dreams?

Alternatively: when is the safe and not-super-fulfilling job sometimes exactly what you need? What could you do with the excess creative mental energy that a boring day job affords?

All these questions (and much talk of Spiderman!) on this week’s episode.

Read More
Your College Major May Not Prepare You for Your Job—but It Can Prepare You for Life

Your College Major May Not Prepare You for Your Job—but It Can Prepare You for Life

How much does your college major matter? The answer varies a lot, depending on which industry you’re trying to break into.

For example, I’m a white collar worker, and work alongside folks with undergraduate degrees in history, finance, literature, and psychology. Yet I’ve noticed among medical professionals, it is generally frowned upon to dispense medical wisdom under the mighty authority of a BA in Film Criticism. Hmm. Curious!

I spend a lot of time working with recent graduates in the course of my Clark Kent day job. And I’ve noticed that a lot of them seem apologetic or insecure about their majors, especially when those majors don’t relate directly to the assigned task.

Just the other day, I was getting sloppy with my speech in a one-on-one meeting with a mentee, using too many unnecessary bits of industry jargon. “I’m so sorry,” she said, “but could you please explain what that means? I love marketing, but I only found that out about myself once I started doing internships in my senior year. It was too late to change my major, so I’m really behind.”

It kinda broke my heart! (And was totally my bad. I didn’t need to say “stakeholder feedback needs to be strategically leveraged against known best practices.” Not when I could’ve just said “clients are ignorant babies, ignore them whenever possible.”) There’s a learning curve for every new job, no matter how familiar you are with the industry. No reasonable person expects you to instantaneously intuit absolutely everything.

Remember your value

I think a lot of our readers could benefit from a healthy reminder that you bring great value to your job role just by being you, regardless of what you studied in school or learned in internships. In my observation, technical know-how and industry experience are far less important than the “soft skills” of managing people, priorities, time, data, and (most importantly) yourself.

Piggy and I have our own observations, but they’re based on the narrow experiences we’ve lived or observed firsthand. So I thought I’d float this discussion in our Patreon community. I asked donors for their insights into skills and habits they learned in their majors, and how it serves them in the job role they perform today. And like the dedicated employees of the United States Postal Service, they delivered!

The best advice comes from real, lived experiences—and the more diverse, the better. Here’s hoping this advice will inspire younger readers who are still deciding on this issue. But also, those more established folks who may be questioning the feasibility of a major career shift.

… Omg, a “major” career shift! Get it??

Here are some things that your “off-topic” major might teach you…

Read More
Season 2 Episode 10: "Which is Smarter: Getting a Loan? or Saving up to Pay Cash?"

Season 2, Episode 10: “Which Is Smarter: Getting a Loan? or Saving up to Pay Cash?”

The financial lessons we received from our parents are problematic for many reasons.

For one thing, they’re often out of date, as the economic atmosphere of the 1970s and 1980s is a far cry from what we’ve experienced in a post-2008 world. We’re long past the quaint advice to pay for college by “getting a summer job” and to start a career by “walking into a business and asking for a job in the mailroom.” Heckin precious.

But there’s also the way an assumption of background knowledge can lead to further confusion. For if you don’t understand basic financial principles, the sweet knowledge nuggets your beloved Boomer dad drops on you might go down like lead balloons. Just as you can’t understand where Beyoncé came from without Destiny’s Child, you can’t talk about getting loans until you understand how interest works!

This week we’re dealing with just this issue. Petey is one of my oldest and strangest friends. I made him walk down the aisle with Kitty at my wedding in the hopes that those two weirdos would have a vulgar joke-off (alas, they conducted themselves with the decorum expected of a bridesmaid and a groomsman and saved the nasty shit for the dance floor).

Petey has his head all in a tizzy over his dad’s vague and incomplete financial advice. So we decided to set the poor boy straight!

Read More

I Am So Over Productivity Porn

As I write this, it’s six o’clock on a Saturday morning. I’ve been up since five. This isn’t normal for me. Normally, I sleep in till the decadent hours of seven or eight on weekends. (Ya jelly?)

Not today. Today I found my eyes springing open from dreams about wasting time and all the things I should be doing to… waking thoughts about wasting time and all the things I should be doing. So I got up. Because working on my goals is far more productive and important than sleeping, right?

Recently—actually, let’s be real—years ago I internalized the message, seared into me from intellectually stimulating op-eds, social media, self-improvement gurus, and our culture at large, that I could be “more productive.” As a result, I hate wasting time. I despise goal-lessness. Every year I brazenly make a New Year’s Resolution to better myself and the world around me. And by god I get that shit done. I rarely spend a weekend sans plans and a rigid to-do list.

Dale Carnegie wishes he were me!

I’m bitch enough to admit this isn’t healthy. I can’t take a break from working without seeing the window trim I need to refinish or the herbs I need to dry or the hangboard where I should be doing pull-ups. And I can’t pursue those personal goals without thinking of the work I need to do, the money I need to make. I can’t even be lazy without being bombarded by evidence of how productive and accomplished my friends and idols are through their carefully curated social media!

I could be so much more productive! In fact, I should be so much more productive. Sleep? Relaxation? These look more and more like indulgent wastes of time.

Recently it’s only gotten worse. And I know, with damning clarity, that I am not alone.

Guys… I am so over productivity porn.

Read More
Season 2 Episode 9: "I Volunteer in My Free Time. Should I Focus on Making Money Instead?"

Season 2, Episode 9: “I Use My Free Time to Volunteer. Should I Focus on Making Money Instead?”

You’re employed. You’re making enough money to live on and putting a little away for the future. And you’re filling your free time with stuff you find enjoyable and fulfilling.

… but is it enough?

This week we handle the nagging feeling that you should be doing more with your time. It’s hard to fight against the advice that you need a second income stream, the coveted “side hustle”, even when in reality you’re doing just fine. It’s all tied into that most frightening of the coronavirus pandemic’s side effects: productivity porn.

And if that wasn’t enough terror, we slip in a real palm-sweaty story about that one time

KITTY READ PIGGY’S DIARY

and

WAS TOTALLY CAUGHT RED-HANDED, THAT FUCKING SNAKE!!

Read More
Ask the Bitches: “How Do I Put a Stop To Unwanted Monetary Gifts?”

Ask the Bitches: “How Do I Put a Stop To Unwanted Monetary Gifts?”

Since we’re all living through fairly doomy and gloomy times, I want to occasionally slip in a question that’s firmly in the category of a nice-to-have problem.

Just such a question appeared in our Patreon inbox this week. (Patreon donors get direct access to the single glowing brain that Piggy and I share, and can ask us questions directly, which we are guaranteed to answer!) Since this question involves some venting about their family members, I’ll protect their identity by calling them Fran.

Hey Powerful Sunflowers, 

I’m a financially secure adult in my late twenties. My husband and I are homeowners and prolific savers. We’re doing great! However, my parents still insist on treating us like kids.

My father loves to give me money anytime I go to visit. It was awesome when I was in college, but started to feel infantilizing as I’ve grown. So I started to refuse to take his unwanted monetary gifts, but he sneaks it into my purse!

It’s always more than a hundred dollars. Sometimes much more. 

I donate it when I find it, but it’s still frustrating! I really do not need or want my parents’ money. So it’s partially a money question and partially a relationship question. Is there anything I can do to stop taking the unwanted monetary gifts? And if not, is there a better way to be using the money? 

Thanks Bitches.

– Patreon Donor Fran
Read More