Hi. Happy 2006. Welcome to the Carnival of Debt Reduction as hosted by the Frugal Duchess all this week!!! It's a great way to start the standard calendar/solar New Year!
Debt and Obsession are the centers of action in the Carnival today. In that playful spirit, the spotlight is on Amy Borkowsky, author of Statements: True Tales of Life, Love and Credit Card Bills. Based on her book, Amy Borkowsky wrote a cute piece about love & debt in a recent issue of For Me magazine. And even if you are not a woman with a turbulent love life, the lessons are universal.
But first a message from the Carnival Ticket Booth:
a) Thanks to the MightyBargainhunter.com, for providing this Carnival opportunity.
b) I will be adding entries through the end of the day, Saturday, Jan. 7, 2006. So, if you have any ideas or rants about reducing debt, drop me a note (email@example.com) or file a comment on this blog. I will continue to update the Carnival until 11:59 (EST) Jan. 7.
c) Thanks to those who have submitted ideas, examples and technical advice! Thanks to everyone for stopping by the carnival. Thanks to everyone who has mentioned the Carnival on their blog or website this week.
d) Next week's Carnival of Debt will be hosted by Personal Finance Advice
e) Please visit day #1 of the Carnival, which started on Jan. 2.
LOVE & DEBT
The article: What My Credit Card Bills Taught Me about My Love Life featured in a fall issue of For Me magazine. (Katie Holmes--without Tom Cruise--is on the cover.)
The author: Amy Borkowsky: Statements: True Tales of Life, Love and Credit Card Bills
The Carnival Summary:
The bottom line is that by really studying her credit card bill and purchases, Amy Borkowsky recognized that something was really, really wrong with her love life.
Basically, she figures out that she's spending way too much money to impress the wrong guys.
In her pursuit of love, she spent a fortune running away from herself & reality.
It's an emotional money pit that I have fallen into myself...you know: the expensive rut of spending, denial and self-deception.
Here are the CHARGES that sparked Borkowsky's Aha! moment:
1) Expensive twice-weekly hair straightening sessions called "blowouts" with deep conditioners and other costly hair products because her beau "Rick, the real estate broker," loved her allegedly smooth and shiny hair. HOWEVER, Rick, the broker was "blissfully naive to fact that I had to pay good money to spin silk out of Brillo" OUCH! (personal aside: Curly hair rocks! )
2. $1,400 for dental work after a disastrous dinner date. Don't ask!
3. $4.28 spent a couple times a month at Starbucks to review date notes with a good friend.
4. $51.50 spent at a bar to review an especially awful date with a close friend.
5. $14.73 spent buying toys for the children of a married friend. The toys were a bribe to distract the kids, while the author reviewed her awful love life with a married-with-kids chum.
6. $17.50 for order-out omelets for a beau who wanted a home-cooked brunch. Borkowsky order the food to go, but hid the bills and passed it off as her own home cooking.
7. $42.97 at Amazon.com for self-help books about women and love.
"Thankfully," the author wrote. "My cost of loving has dropped noticeably since I started dating someone who, at least for now, accepts me the way I am."
As such Borkwosky no longer spends at least $70 a week (about $300 a month), before tax, tips and additional grooming products to blow out her curly hair. She stills orders omelets at restaurants but has let go of the home-cooked pretense.
Personally, I recommend a cookbook. There are great cookbooks FOR FREE on loan at the library!