Entry Level Living doesnt just refer to my professional position–it refers to my financial one as well. While I have always had to watch my spending, it was usually in relation to a. what my mom wanted me to do with my money b. what fun stuff I wanted to do with my money. This is my first time working full time, having to pay bills and deal with financial consequences if I do not manage my money properly.

However, I am surrounded by people my age who simply dont want to talk about money. Doing so is boring and in a city like New York there is great pressure to do everything and spend lots of money. Afterall, we just want to be free and have fun.  Freedom is often seen as the ability to not think–to do as you wish without really having to think about the consequences, or to just follow along with what everyone else is doing. To be “normal.”

What we dont realize is that this kind of characterization is detrimental to our well being. Being critical doesnt mean being shackled–it simply means being aware of the messages, attitudes, and behaviors that are damaging to your self worth and self determination. Once we become aware of those shackles, then we are free.

So there is nothing wrong with having fun, but I damn sure am not going into debt to keep up appearances. Here are some tips that help keep me in check:

1. Talk about money: A great privilege I have right now is that my best friend is in the same fellowship that I am. I’m a development director at a school in Manhattan while she does the same in the Bronx. We both make the same amount of money. So when we hang out we feel no shame in asking about each other’s spending habits.

It isnt rude, it’s necessary. When we realize that everyone struggles and that keeping up with the “Jonses” is nonsensical it makes being responsible easier. If you are fresh out of college, chances are you arent making much money and neither are your friends. Just be real about it.

2. Read about money: The greatest blessing of our current economy is that people can no longer keep their heads buried in the sand. You cant get away from financial articles, once buried in the back pages of newspapers next to stock quotes, now prominently featured on the front page.  I just learned that the New York City government has an Office of Financial Empowerment that provides resources and support for people who need guidance with money management.  Take advantage of these kinds of opportunities.

3. Why do you buy? I hate to admit this but I feel like crap after reading a woman’s magazine.  I feel like there is so much t hat I dont have, so much that I’m lacking when truth is I have plenty.   No, this doesnt mean that I go out and buy a whole new wardrobe after reading Glamour, but it does mean I am less likely to think before I buy.  In this case, a low self esteem is the culprit for unnecessary spending and I work hard to deal with it (I need my gossip, but oh gosh the fashion pages!)  What pushes you to buy?

Financial newbies–what are your tips?