It’s Your Money is a hands-on educational event for college graduates and soon-to-be grads to learn real world personal finance skills. Participants at the afternoon event will:

• Learn surprisingly simple ways to build a personal financial safety net
• Develop a step-by-step, practical budget with room for fun without the guilt
• Learn how to avoid common, costly mistakes
• Benefit from lessons learned by other recent grads who have dramatically increased and protected their savings
• Understand how simple decisions have a big impact on their ability to spend and save
• Gain real-world skills and long-term strategies for building a retirement “nest egg”

The conference is only $18 (to cover the venue). If you’re graduating soon, or have been out in the “real world” for awhile, this event will take the mystery out of building a secure financial future that matches your own strengths and needs.

If you happen to come to the conference, please drop by and say hello!

Often we can’t (or don’t) write fast enough for the official documentation to cover everyone’s questions and needs. Enter Wesabepedia — user created and maintained documentation. Not only is it user created and maintained, it wasn’t even our idea — Wesabe users dreamt it up and put it together for the benefit of the community.

Our new user manual should answer most questions about how we envision people using Wesabe, but Wesabepedia lets Wesabeans share “how to” notes on using the site in ways we never imagined — many of them far better than what we had planned. It’s for the users, by the users, on the topics the users want, and we couldn’t be happier.

In appreciation for Wesabepedia and the people behind it, we’ve started linking to it in our “Community Resources” section under help. Explore and enjoy!

These stories provide inspiration and proof that even in this uncertain economy, there are people taking control of their finances and making smart decisions. We’ve introduced our friends at CNBC’s On The Money, where Wesabe CEO Marc Hedlund is a regular contributor, to some of our members and… they are smitten! They have featured three of our members so far, and would like to tell more of your success stories on-air. (Congratulations to charter Success Club members CymbidiumKelly, allibee and GatorNation81.)

We’re very excited to introduce the Wesabe/On The Money Success Club. This is a great chance for you to share your financial milestones with others and get a well-deserved pat on the back for your progress. And you’ll also get some personal finance DVDs – if you are selected to call in and tell your story on-air, CNBC will send you DVDs as a thank you. And we’ll set you up with one of our sweet new Wesabe t-shirts.

Send an email to debbie at wesabe dot com with your story – what success you’ve experienced or strategy you’ve found to help you better manage your money, what challenges you’ve had to overcome to be successful, your age, name and contact information. I’ll pass your info on to a CNBC producer, who would then call you for more details. If you’re selected, On The Money will have you call in to the show and tell your story to the host, Carmen Wong Ulrich.

CNBC is particularly interested in talking to folks between the ages of 30 and 50, but recognize that success comes in all shapes, sizes and ages – so even if you don’t fit those parameters, feel free to send in your story.

Those who joined Novembers ‘No Spend Month’ not only reported plumper bank accounts but a deeper understanding between ‘wants’ and ‘needs’ and radically better spending habits. They also found themselves with a chunk of free time which they put towards more meaningful activities, like developing much loved hobbies and spending quality time with friends and family.

Here are 7 tips and tricks for a successful No Spend Month, from those who have done it before. A special thanks to GirlNextDoor and CymbidiumKelly for their interviews, where all of the following content came from. For more great advice, check out their new blogs, Girl Next Door Finance and The Centsible Life.

1.    Examine your spending habits for the past few months. Weed out all your non-essential expenditures and entertainment costs, such as movies, eating out and shopping. Settle on figure that covers all of your essential costs for the month.
Creator of the No Spend Month, Kelly, advises that after you come up with a figure, “scale it up by 25%… this is more manageable without being too constrictive.”

2.    Analyze your motives for ‘non-essential’ purchases. Think about why you swing by Peets everyday at 3 p.m., swift through the Sale rack at Old Navy or head to the movies. Since these are the purchases you’ll be cutting, it’s helpful to identify why you make them (you’re tired, you want to find a great deal, you want to get out of the house).

3.    Begin developing counter-habits. This way you’re prepared to battle impulse habits. Get a can of Maxwell’s for the office kitchen, plan to work on a new hobby each time your hit with the shopping bug, and have a stack of library books (or movies from the library) waiting each time a “night out at the movies” occurs to you.

4.    Choose a realistic time period to launch your No Spend Month. If you know the next month is filled unusual activities (or lots of extra spending), like out-of-town guests or a whirl of birthdays, start it next month. Then again, if you’re feeling tough, a month like December may be the ideal time to buck up on your discipline.

5.    Use a money management tool, like Wesabe or PearBudget, to track your spending. Set up budgets in each of your spending categories and check in daily to stay on top of your spending.

6.    Figure out the things you enjoy and how you can do them for free. Love buying books, stock up at your local library. Love to eat out? Invite friends over for a Potluck.

7.    Focus less on changing numbers and more on changing habits. GirlNextdoor wrote that she found this more beneficial than constantly working to keep spending to a bare minimum. She wrote:

“Instead of just trying not to spend money, evaluate what you want to spend money on and its relative importance to you. Focus on why you want to spend money on an item, rather than its cost…”

Instead of fixating on “but it’s only $3.50” or “but it’s 70% off! I will never get a deal like this again!” think about why you really want the item, what value will it add to your life, and evaluate if you really need it. One of the most powerful lessons reported by those who completed their own No Spend Month was a much deeper understanding of their “wants” and “needs”, and how easy it is to mix them up. Proactively thinking about this will help ingrain better spending habits for the future.

8.   Find a support network to check in with and post your progress. CymbidiumKelly shared that she started her No Spend Month in the Wesabe Community because she knew it would keep her honest with herself about her family’s spending. She shared that “It was great to know I could go to Wesabe when I was feeling frustrated or discouraged about financial matters. I always felt that everyone participating in the discussion was really supportive and encouraging. It kept me motivated when I would have otherwise wanted to give up.”

Kelly launched her “No Spend Month” last month in Wesabe Groups as a way to get a hold on her family’s spending and pay off debt. She was inspired to start her project because she’d “have the support of other Wesabeans. I knew it would keep me honest.” She felt that tracking her spending in the Wesabe community was great way to hold herself accountable.

Within a day of Kelly’s first post, a flood of other Wesabeans followed suit, discussing ways to cut their spending to bare necessities.  They also began posting their progress in the “No Spend Month” discussion. Between the faltering economy and upcoming holiday season, many agreed that November was an ideal thirty-day stretch to buck up on discipline and get serious about curbing spending.

Member Ilovetea decided to join after seeing her 401(k) value plummet 48% and Wesabean AmilcarKabral began his month after losing his job. He wrote that though the month of November was already going to be tight, not spending “is more fun when you do it intentionally and not as a reaction.”

Member Maribeth said,“I think this is a great idea…however, I am frightened at the idea of holding myself accountable. I’m going to start on Sunday, November 26. I think eating/drinking out will be my main challenge. I’m sure most of you can relate. Football Sundays at the bar are a fall tradition. However, when I think of which goals I can accomplish within this month (saving $500 for an emergency fund, saving for a down payment on a house, cash for Christmas presents), I think it will be extremely rewarding in the end. This is one of the many great things about Wesabe. I continue to learn and never feel like I am going at it alone.”

Lit added, “We have been trying to drop our debt load by $1,200 a month for the last four months. Have not succeeded yet but this… might help. November 2008 here we go!”. And, QwnofCash wrote, “Wow!! What a great idea! I think it’s a good opportunity for all of us to discipline ourselves and to prepare our families to endure this dark period…”

While many of those who followed the No Spend Month reported plumper bank accounts, their results far exceeded an extra wad of cash. Bullshalo13 wrote that the month helped her “realize how much money I spend on things I don’t need.”

GirlNextDoor shared that the participating in the No Spend Month drastically changed her thought process around spending money: “Instead of asking ‘can I afford this right now?’ (to which the answer was usually ‘yes’ as my wants tend to be relatively inexpensive), I ask myself  ‘Do I really need this? Do I have a use for this? Is this going to add value to my life?’ – the answer is not so clearly ‘yes’ for these questions!”

Though GirlNextDoor has always tracked her money, the No Spend Month helped her curb impulse spending. Instead of tracking where her money was going (after the fact), she’s consciously thinking about where it will be going ahead of time.

Similarly, KristenR1010 reported that she “didn’t realize how much my little snacks have added up. It seems like nothing to run to the corner and get a cup of coffee or a bagel, but I’ve saved so much money this week by not going! As for clothes shopping, it’s been hard to resist the holiday sales that are starting, but I’ve managed not to spend a dime. I’m taking my ‘no-spend zone’ all the way until I have to buy a few (inexpensive) Christmas presents. The best Christmas present for myself will be when I save enough money to pay off the next credit card!”

And after the month, creator Kelly shared that her biggest realization was how much money you can save from all of those little purchases you make without thinking. “I learned that I am fairly dishonest with myself about money, thinking a want is a need or thinking we will make up for (indulgences by saving more) next month,” she said.

Participants also found themselves with a lot more time on their hands. Not spending money means forgoing activities like happy hours, nights at the movie theater, dinners out, and shopping with friends. GirlNextDoor commented, “Since I was actively trying not to spend money, I avoided situations where I would spend money as much as possible- which left me with more time at home. I finally took the leap and started a personal finance blog, which is something I’ve been contemplating for 6 months!”

Desertrat wrote that she and her significant other “both now have library cards, and we’ve taken to going on walks and playing board games, something we’ve also gotten our friends to do.”

Jessie88 shared that she and her fiancée are “curling up with hot coco and a good book or magazine, even a nice movie”. Like Desertrat, Jessie88 and her fiancée started becoming more acquainted with their neighborhood and parks. “Heck, we go swing…and I like to walk barefoot through the sand. It’s free, we also go there to look at the stars,” she said.

All seemed to agree that spending money can be a great distraction from more meaningful activities. Kelly wrote that her family often used to find themselves “going somewhere we can spend money when we need to get out of the house. The biggest thing I learned from the No Spend Month was to stay at home! We have so much to do and that needs to be done there, and, we spend the largest percentage of money on our home, so it makes sense to enjoy it as much as possible. I also realized that if we’re paying for something we should enjoy it! We have Internet access at home, a Wii, DVDs, etc. We were able to entertain ourselves and the kids with what was on hand.”

Interested in starting your own No Spend Month? Tune in Monday to read the tips and tricks of those who have successfully completed it!

Today’s New York Times Magazine featured an interview with Suze Orman, about her new book on women and money, and about herself and her own relationship to money. The interviewer was, I thought, very condescending, taking the “niche topic” approach to extremes. It was an interesting read nonetheless — Orman is great at taking control of a conversation, and she certainly did this time. Some excerpts:

Q: As one of the most widely read financial gurus of our time, why would you write a book like “Women and Money,” which is based on the regressive premise that women are birdbrains when it comes to managing money? I would think women are better at saving than men.

A. No, they save and then they give it to their best friends, who need it. They give it to their children, who need it. They give it all away once they’ve saved it.

Q. Isn’t that admirable?

A. That depends on what it leaves them with. It’s not admirable when it leaves them with nothing. I want to change women from savers to investors. [...]

Q. Are you married?

A. I’m in a relationship with life. My life is just out there. I’m on the road every day. I love my life.

Q. Meaning what? Do you live with anyone?

A. K.T. is my life partner. K.T. stands for Kathy Travis. We’re going on seven years. I have never been with a man in my whole life. I’m still a 55-year-old virgin.

Q. Would you like to get married to K.T.?

A. Yes. Absolutely. Both of us have millions of dollars in our name. It’s killing me that upon my death, K.T. is going to lose 50 percent of everything I have to estate taxes. Or vice versa. [...]

Q. Do you enjoy spending money?

A. Oh, yes. My greatest pleasure is still flying private. I spend between $300,000 to $500,000, depending on my year, on flying private.

The full interview is worth a read. It’s hard to read even such a short piece and come away thinking of personal finance as a niche topic.

My conference session is entitled, “Super Ninja Privacy Techniques for Web App Developers.” At Wesabe, we’ve tried to come up with a bunch of new ways to protect our users’ privacy, and we have a set of newer ideas coming down the line. The session will lay out some of our techniques and how they might apply to other web applications, and talk about the best ways to think about users’ privacy and data rights when you are developing Web 2.0 applications.

During the conference tutorials, I’ll be presenting my talk for technical entrepreneurs, “Coder to Co-Founder: Entrepreneuring for Geeks.” If you’re interested in competing with Wesabe, come on by and I’ll tell you all about how we built it! I’ll also cover coming up with an idea, finding co-founders, getting things started, product development, hiring, and fundraising.

Hope to see you there.

The Table of Contents

• Who Has the Most Frugal Family? An Investigation…Page 3
• The Key to Running a Great Project (hint: it starts with an “M”) by Ramit…Page 5
• Producers, Consumers, and the Information Diet by Ramit…Page 7
• Why Do People Get So Nutty Around Christmas? by Ramit…Page 8
• 101 Words on Running More Than One Project at Once by Ramit…Page 11
• How to Send an Introductory Email by Ramit…Page 12
• Money Day by J.D. Roth…Page 14
• Take Advantage of Your Youth by JLP…Page 18
• Handling Failure: Dealing with a $2.2 Million Mistake at Age 24 by Casey Serin…Page 22
• Building the Team You Already Have by K…Page 26

Looks like it’s well worth checking out. I’m thrilled that there are so many great resources shaping up together online, and seeing this collaborative effort is great. Congrats, Ramit!

Her latest column, on planning for retirement, is a great example of this. You should read the whole piece — it’s a great, simple introduction to thinking about how much you’ll spend during retirement, and building a retirement savings plan from that. Here, though, is a snippet that is characteristic of her style:

Don’t waste too much time mulling over those retirement rules of thumb that seem to pop up everywhere. They’ve never been very useful, but changes in the way people live and work make them even less so.

Here are a couple of rules debunked.

– That 80 percent spending maxim. Once you start planning for retirement, you usually run across this “rule”: “You’ll need roughly 80 percent of your pre-retirement income once you retire.”

That’s a ridiculous figure, pulled out of thin air. Investment companies say they often use that number to “help” people who don’t have any idea of how to plan their retirement savings. But it mainly helps to scare people into thinking they have no hope of saving enough for retirement.

In truth, they may spend more than that in the first couple of years after they stop working, but they’re likely to spend far less, on average, over their entire retirement period. By the time they are 75, they’re likely to be spending about half of what they did when they were 50, according to the Labor Department’s survey of consumer spending….

I love that she debunks the very general saws financial articles typically throw around, and then backs up her assertions with better numbers from reputable sources. When you think about how easy it is to fall into the “personal finance traps,” it makes what she does that much more impressive. Definitely worth reading every week.

They recently posted an interview with my friend Jason Fried, and I loved one of the things he says about money problems:

I don’t think you have money problems until your problems are someone else’s benefits. When someone is making money off your money problems you’re in trouble.

That’s a great way to think about it. He qualifies that he isn’t talking about mortgages, but instead debt or loans with “no payoff in sight.” The rest of the interview is also worth a read.