End of Season Shopping

To avoid overspending, it's always good to have some idea of what you're about to add to your wardrobe. Here is a snapshot of my end of the year wish list:

1. H&M Turtleneck Sweater
2. Aritzia Geranium Pants
3. Zara Track Booties
4. Zara Woven Shopper

1. Aritzia Blanket Scarf

2. Madewell Skinny Skinny High-Riser Distressed Jeans

3. Zara Padded Jacket

4. Sam Edelman Booties

5. Kate Spade Saturday Satchel

1. Mackage Adali Coat


All images via Pinterest

Through the iPhone

Long time no chat. Thus far, my goal with this blog has been to do at least one post a month. Therefore, today is a post through my iPhone. When I finally get the discipline to sit down and blog whilst attending to my daily life activities, I'll be able to write a series of fun finance and fashion posts. Cheers!

1 - View of the new pavilion at the East River Promenade; 2- Marc Jacobs & Charlotte Olympia Flats; 3 - New favorite drink: Flat White at Cafe Grumpy's; 4 - Boats at Central Park

1 - Death becomes her at the Met; 2 - New bow blouse and cardigan from Ann Taylor; 3 - Apartment details; 4 - Coffee date at Ground Central

Necklace - Forever 21; Shirt - J. Crew Perfect Shirt; Sweater - Madewell

Lessons in Finance: Your Net Worth

There are so many financial products available to sophisticated investors and ordinary individuals to aid in capital preservation and growth of assets. However, before anyone can tell you how to utilize your assets and maximize your rewards, a simple concept must be understood: Net Worth.

As an accountant, I like to stress this concept first because it is the foundation of accounting. What is accounting if not the language of business? It goes as follows:

It's simple. What you have minus what you owe equals what you're worth. Why is this important?

1) Starting Point - The first benefit to understanding your net worth is that it is the foundation for developing a financial strategy. Pretty simple: if you have a negative net worth, your financial plan will be based on paying off the debt currently outstanding and increasing that net worth. If you have a positive net worth, your financial plan will be based on maintaining your current financial condition and increasing that net worth.

2) Goal setting - Once you've identified your starting point, you can define your goals. Ask yourself this basic question: Where do I want to be in 5, 10, and 20 years? Setting a financial target, no matter how outrageous it might be, allows you to work towards something. You're more than likely going to benefit from having a plan than not having one...no statistics to back that rationale up here, just simple logic. Regardless, set some short term and long term goals. For instance, at the beginning of each year, I like to set a goal for how much I'd like to have in my savings account at the end of the year. Maybe you have some student loans that you'd like to trim down. If so, how much do you want to pay off by the end of the year (short-term), and when do you want to pay the entire debt off (long-term)?

3) Budget creation - Lastly, once you've set your goals, create a budget as a plan for how you're going to achieve those short-term and long term goals. Create a short-term budget and a long-term budget to coincide with those goals. There are many different types of budgeting strategies, but that's for another time!

Remember, every book on investing, financial planner, or advice blog will tell you the same thing: it's never too late to start! Here are two simple online tools to calculate and illustrate your net worth:

1) CNN Money (http://cgi.money.cnn.com/tools/networth/networth.html)

2) Investopedia (http://www.investopedia.com/net-worth/demo/)

Calc-u-later!
-Ben Wyatt, Parks and Recreation

Travel Diary: Istanbul, Part 2

Istiklal Avenue

Here are the highlights from my Istanbul trip. It's amazing how just one city could have enough to keep a person exhaustingly occupied for an entire week. No exaggerations here, everyday was an adventure!

T-shirt & jeans - Madewell; Bag - Lonchamp; Sunnies - Ray Ban

Galata Tower

Yeni Cami, "New Mosque"

Grand Bazaar

Spice Bazaar

Tea sets at the Grand Bazaar

Turkish Lanterns

Sultanhamet Camii, "Blue Mosque"

Hagia Sophia

Basilica Cistern

Fisherman Galata Bridge

Garden at Topkapi Palace

Top - Forever 21; Denim - Madewell; Shoes - Sam Edelman; Scarf - Zara; Hat - Free People

View of the Bosphorus Strait from Topkapi Palace

Dolambache Palace

Ortakoy Mosque

Impulse in Blue

Organza Jacket - Zara; Boyfriend Jeans - Madewell; Shoes - Birkenstocks; Jewelry - David Yurman, Evil Eye from the Grand Bazaar of Istanbul, Michael Kors watch

I should probably disclaim this from the beginning. Impulse purchases are bittersweet. They are incredibly disastrous to the avid budgeter; however, marvelous to the wandering eyes of a shopper. That moment when you recognize you found something spectacular is one of mixed emotions. 

There it is. You've spotted it across the room, and your eyes are drawn to nothing but it. Your eyes are fixated on the garment whilst it is casually hanging on the rack. Thoughts race through your mind as you make your way towards it like a swift feline predator admiring its prey. Is it in your size? Will it look amazing draped across your body? How much is it? Can I justify it? Your wardrobe runs through your mind as you envision multiple outfits that persuade you to believe that this IS the key piece that completes your wardrobe. You can wear it with everything. Let's be real, you can always justify something that looks amazing and makes you feel amazing, one item will never complete your wardrobe, and no, you can't wear it with everything.

Maybe this was a dramatization of a scenario that was played out not too long ago by myself in Zara when I spotted this striped organza jacket. I couldn't keep my eyes off of the deep, richness of the hue. It was so out of character as I'm generally attracted to casual pieces that have a classic aesthetic, but I couldn't help myself. I bought it. I had foresaken my vow to adhere to my budget. 

Luckily, I had built a cushion in my checking account that absorbed the blow of the purchase. Always have a cushion...you never know what amazing purchase (or more ominously, what emergency) is around the corner that could destroy your periodic budget!

Travel Diary: Istanbul, Part 1

Dress & Jacket - Free People;  Shoes - Steve Madden; Flower Crown - Street Vendor on Buyukada; Bag - Longchamp; Jewelry - Madewell, Valentino, Michael Kors

I recently took a vacation with the hubby to what TripAdvisor notes as the top travel destination of 2013. Well, a place so designated must have something exquisite to draw in tourists from around the globe. Here's my first unofficial finance lesson for you from a self-diagnosed, chronic over-thinker. Travel ain't cheap. In other words, when you're spending heavy it better be on a place where you'll make amazing memories and accumulate worthy experiences. Istanbul was the perfect place for this Mrs. and Mr.

Istanbul is a beautiful, cultured city stretched across the border of Europe and Asia, divided by the blue Bosphurus strait. Situated in the old Ottoman Empire and in modern day Turkey, Istanbul (not Constantinople) is the perfect dichotomy of the old world and new. There are so many historical sites, rich in Islamic Heritage and architectural pizzaz, such as the Hagia Sophia, Sultanahmet Mosque ("Blue Mosque"), Basilica Cistern, Dolambache Palace, Galata Tower, and the Topkapi Palace. It also happens to be foodie heaven, with non-heart-healthy meals with meats ("kebaps") and pastries all laced with the greatest ingredient to ever to have been invented, butter, as well as rich coffees and teas.

Here's a little view into one day spent, not actually in Istanbul, but on Buyukada (Big Island) of the Princes' Islands, an archipelago in the Sea of Marmara Sea. It's a 45 minute ferry from Istanbul and a recommended day trip for someone who wants to escape the hustle and bustle of the city to an island where no vehicles are allowed and transportation options include horse-drawn carriages, bicycles with baskets, or your own two feet.