Amanda Stanhaus

Tag: fabulous

The Wolf of Wall Street

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Usually I am weary of a $12 movie ticket.

But, 3 hrs with Leo? I’m in.

The Wolf of Wall Street is an epic tale. It’s funny. It’s ridiculous. And I’m just saying, Leo’s character, Jordan Belfort, would have benefited from forfeiting some fabulosity for some frugality.

If Jordan hadn’t been so ostentatious, saved $$ by not buying drugs or sex from prostitutes, and stayed away from his illegal ways in general, things might not have turned out so badly for him, but also there probably wouldn’t be a movie about him!

The Wolf of Wall Street is a reminder of what can happen to us if money corrupts us. Of course, money is necessary to make us fabulous. But also, friends & family play a key role in our fabulosity equation. So play nice.

Essentially, Leo (via Jordan Belfort) shows us what not to do. It’s a must see!

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Bye Bye Ben Bernanke

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Ben Bernanke has been Chairman of the Federal Reserve since February 1, 2006 and his chairmanship ends this month. No need to shed a tear though, he will stick around as a board member until 2020.

Plus, there is good news, chickadees! Janet Yellen will replace Ben, if the senate approves her today. If yay, she will blaze a trail for me & lady economists, as Janet Yellen will be the first lady to be Federal Reserve Chairman! She’s just as fabulous as us, Janet’s book is called The Fabulous Decade: Macroeconomic Lessons from the 1990s.

More to come about Janet Yellen, but today I want to give you a “bird’s eye view” of Ben Bernanke’s time as Chairman of the Federal Reserve.

Last week, Ben Bernanke said ta-ta in this speech, summing up his time as Chairman. The following is what he wants to be remembered for:

Transparency and accountability

Ben Bernanke broke with the past and during Ben’s chairmanship, everyone who wanted to know, could easily find out how America’s money is being managed. (Psst, the Federal Reserve is the U.S.’s central bank.) Ben became a TV star, print journalism prince, and a social media darling.

Financial stability & reform

Crises like 2008 and the fixes of post-2008 are nothing new. What was “different” this time was the complexity of our contemporary economy. (Psst, Bettie funnily explained the clusterf*** that was 2008 here.) Luckily, Ben Bernanke was a Great Depression expert even before his Chairmanship and used his  knowledge to correct the economy during The Great Recession of 2008.  Unfortunately, the reforms are a needle in a haystack, but better than nothing.

Monetary policy

We have Ben Bernanke and his monetary policy to thank for the near zero interest rates on our savings accounts. Interest rates so close to zero are good to get the economy back on track (AKA it’s very cheap to borrow and build businesses), but personally don’t make me feel great when I review my monthly savings account statement. He had good intentions and Bernanke’s monetary policy saved the U.S. from something much worse.

Ben Bernanke will be missed. He was a big deal. How big of a deal? A fellow economist wrote a song about him—and we know when a man writes a song about you, it’s serious!

See, economists can be fun…in their own way!

(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

 

Gift Guide: Myself

I saved the best for last. Here’s what I will be treating myself to this Christmas!

Cost-effective:

One of my super powers is my ability to paint my fingernails before I go to sleep and wake up with my nails dry & uncreased. It runs in the family—thanks Mommie!

Plus, it’s expensive to get my nails done! $15/ week *52 weeks/year= $780!

But I will be indulging in this luxury this holiday season at the cheapest & cleanest place I can find!

Unique:

Regardless of the day or occasion, I wear a significant piece of jewelry. I’ll be effectively using my free time this holiday season to scour vintage stores for jewels. When in Chicago I shop atLulu’s or if I’m in Montreal, The Little Shop is a must-visit!

Useful:

Underwear is a necessity. And wearing well-constructed lingerie make all of my other clothes look better. Psst…my favourite brand right now is Fortnight. Their lingerie is jaw-droppingly beautiful! And more importantly, I have been told I look pretty good in it!

Merry Merry!

(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Disability insurance

If an injury does not allow me to continue working, this insurance compensates me for temporary loss of income.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

Saving is Sexy

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I’m alway aspiring to make saving sound sexy, but Helen Gurley Brown was the original.

Here are a selection of Helen’s tips from what’s basically my bible, Sex and the Single Girl.

-Scrimp on what isn’t sexy or beautiful or really any fun, so you can afford what is.

-Never pay more when you can pay less.

-Don’t subscribe to a newspaper if you see one at the office or can borrow your landlord’s.

-Ditto magazines. Ask a friend to pass hers on after she’s read them.

-If you pay the bills, turn off the lights when you leave home.

-Give up smoking.

-Negotiate with everybody.

-Don’t undertip. This little economy is unworthy of you.

-Work for a rich man.

-Get adopted by a wealthy couple.

Got it? Got it!

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Electronic Billing

With this, now the perfume in my mailbox (à la Holly Golightly) is left undisturbed.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

Emergency Fund

[Flashing lights.] “Must spend money.” This is used up quickly when in a pickle. $$ must be saved in advance.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

Shopping = Diversifying

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I have an obsession with two clothing categories. Coats and lingerie.

I’ll go into detail about the former, as the latter are unmentionables.

I’m prepared for anything. Pink-striped raincoat. Green suede bolero. Black surprisingly-slim puffer. Gold evening coat. Etc.

My $$ needs to be similarly prepared for anything. As a stock maven would say, diversify.

Bonds for rainy days. Growth stock for the chance to buy a fur one day, not so far away.Value stocks so my heiresses can buy their own coat collection.

I rebalance my asset allocation if I move to a new climate or I gain a few too many lbs. And similarly, if my time frame or investment objectives change.

If my man asks what I’m up to when I’m out shopping, I’ve learned to say I’m diversifying!

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)

Estate Planning

What happens to my money when I die? Estate planning answers this question while I’m still living.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)