See Jane Get Rich

Alright, my bedroom set and my mattress has officially been posted for sale on Craigslist.  Now, if only those interested Craigslist buyers who are “really interested” would actually make it through!  I have moved almost everything to the living room and pulled out my air mattress to sleep on.   Now, its time for Craigslist to do its job so that I can turn the furniture to $.   It always helps to keep a few things in mind when selling things on Craigslist. 

Five Tips for a Sane Selling Experience on Craigslist

• A picture is worth a thousand words.

Always post a picture of the item that you are selling.  If you don’t have your own picture then use a manufacturer’s picture.  It is also helpful to provide a link to the item so that buyers.  This will save you a lot of questions about the item from people who are slightly interested. 

• But, that doesn’t mean you can skimp on the details.

It is important to include as much information as possible about a product.  If you are listing a coat then you may want to let the buyer know more than just the size and color such as what material the coat is, presence or absence of any stains, whether or not you or any of your close family member is a smoker, whether you live with pets etc…  If you are selling furniture then it is very important to list the dimensions and this information is easily obtained by looking up the product online. 

• Price your items competitively and with leeway for further negotiation.

You can sell your item quickly and competitively if you search for the item before listing to see the range that is commanded by other sellers.  If for some reason there is no one in your area selling them item then you can command a higher price as most people wouldn’t want to drive out of the way.   Be aware that with most of the transactions there will be negotiation between the buyer and the seller.  This may occur over email or while the buyer is looking the product over. 

• Adopt a no holding/first come first served policy.

Craigslist buyers are notorious for not following through with their expressed interest.  If you hold something for someone then know that there is a strong chance they will come back and say, “Oh, I changed my mind.  I don’t want it anymore.  Oops! Sorry!”

• Adopt a cash only exact change policy. 

To make sure that you get your money it is better to make it cash only so that you get your money right then and there and you can be done with the transaction at the point of sale. 

Now, onto my crazy Craigslist Story

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I have moved back to DC from my Home State and I have been very busy cleaning, donating things to Goodwill and listing some furniture on Craigslist.  The Big Move that I am referring to is the end of my lease in July.  Right now, I am living in a 1 bed room apartment and after I graduate I will likely end up sharing a house or apartment with other people.  So,  I need to get rid/sell things so I am able to downsize. 

• State #1 Bar Exam : July 27-28, 2010
• State #2 Bar Exam: July 28 and 29, 2010
• Apt. Lease Ends: July 31, 2010

I have a big decision to make about whether or not I want to extend my lease by one month so that I would move out at the end of August instead of July.  Do I really want to take the hardest exam of my life and then come back and move out of my apartment?  If I can avoid paying one extra month’s rent then I definitely do. 

It also depends on what exactly I will do in August.  Traditionally, law student’s do a post-bar trip after the bar exam.  I haven’t decided if I will and if so, where I will go.  If  I take a trip then I need to be out of the apartment so I can use the August rent for the trip.

There are things that take up space, you don’t use it but nevertheless it is hard to get rid of.  The perfect example is yearbooks.  I threw out my middle school yearbooks.  But the high school yearbooks were more difficult.  I ended up tearing out the pages from my high school year books that I wanted to keep and putting the rest in recycling.

Its mid-November and in Law School land its time to eliminate all distractions and buckle down to the task of preparing for exams.   I nurse no dreams of being a top 100 PF blogger with thousands and thousands of readers waiting breathlessly for my next post thus, my blog has to revolve around my life. 

This sabbatical from blogging will last the next three weeks and I will be back to blogging on Monday, December 14th.

Update December 14: Okay, I am back.   After I got done with my final exam, I drove straight home.  The next morning I started my holiday job.  I am dead tired and very short on time these days, but the money will help.  I look forward to catching up on some of my favorite blogs.

Actually, not free.  I’ve been dying to write a headline like that.  This is a post about my adventures with laptops and how I ended up with a $350 Sony Viao laptop.

Laptop Love

I love laptops in the way someone who never had a desktop would.  I just can’t imagine life without one.  I like the way it sits just perfect on my lap when I am in bed doing work and I can adjust it to the perfect degree for optimum view of the screen and the least amount of stress on my neck.

My First Laptop was an IBM (used) & then a Toshiba (used)

I got my first laptop when I was a senior in high school.  The black IBM was a used one that was bought for around $700-$800.  But, overheating and other complications lead me to buy a used widescreen Toshiba from my friend for around $600.  The Toshiba was a beauty because it had that dark blue glossy color.  But it was a heavy laptop and I felt as if I was chugging it everywhere with me instead of the more delicate act of merely carrying.   

Toshiba Died Due to a Paper Cut

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I occassionally like to head over to NetworthIQ to see the kind of money young lawyers are making.  After all, I am about to graduate in mere months.  My soon to be peers, it appears, have really nice incomes and a whole lot of student debt.   In fact, the average networth of a young lawyer between the age of 25-29 is rather low.    

I first focused on the legal sector, then narrowed it down to those with their doctorates so as to exclude paralegals.  Then I gathered all the data for the 25-29 age group.  I came up with 20 young lawyers between 25-29.  They all have decent to really good incomes.   Of the 20 young lawyers, 9 were making six figures.  The highest income was in the $250,000+ range while the lowest was in the $40,000-49,000 range.  And the average networth was…drum roll please…   -$22,651.  Yes, that is a negative netowrth.     Yikes.  Only 4 out of 16 or 20% of attorney’s actually had a positive networth. 

• Total young attorney’s with debts:  16 of the 20 or 80%
• Average Income:  Between $101,000 and $126,499
• Average debt: $84,942.93
• Average networth: -$22,651

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A lot of my friends have rent envy. 

When my friends and I compare our rents I come in on the lowest of the low spectrum with $750.  DC is one very expensive place to live if you want to live without a bunch of roommates/housemates.  AfterCollege.com put the average rent for a one bedroom apartment at $1,469 and Rent.com put that figure at an unheard of $1,100.  Most students and professionals who wants to live in a decent area that is close to the metro pays that much for a studio. 

 My Cali Friend’s rent is $1,250 for a studio while my New Mexico friend’s rent is $1,350 for a studio.  They both rent directly from condo owners which makes their rent lower than the typical apartment rates.  My Richmond study buddy pays $1,450 for a studio and she lives in an apartment.  They all live in a very nice area that is very close to the metro with a stone’s throw from a gym, grocery store, banks, restaurants and other convenience. 

 I pay $750 for a Junior 1 Bedroom.  I live in (ahem) a less-than desirable area of Washington, DC.  It’s the kind of place that I never would have lived in the first time I got to DC.  But, let’s just say my standards have changed and I have toughened up.  
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I've so much to look forward to on graduation!

Come May and June when high school, college, grad school and professional school graduates will march into the graduation arena to receive their diplomas to the sounds of Pomp and Circumstance with their family and friends watching.  Accompanying this celebratory mood will be fear, anxiety and uncertainty similar to the class before them. 

Joblessness among young adults 16-24 is much more severe and the unemployment rate continues its steady upward climb.  This will likely lead to what Business Week calls “the scarring of a generation” that will create a Lost Generation—a disillusioned generation that will forever be affected by the remnants of the recession.

 ”…employers are likely to suffer from the scarring of a generation. The freshness and vitality young people bring to the workplace is missing. Tomorrow’s would-be star employees are on the sidelines, deprived of experience and losing motivation.”

  According to Business Week, The Great Recession is expected to impact young people in the following manner:

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Sandwich Platter

 

My Free Sandwiches

If there is an upside to being a student then its your access to free things in general and especially free meals.  Colleges are full of programs for students and food is a sure way to lure them in.  Generally, I have one and sometimes two free meals a week but due to so many programs going on at my school this week I’ve been having a free bonanza. 

The downside of the free meals is that a lot of these programs take up your time.  Your time is the most valuable thing you have in law school.  In the beginning of the semester, I may go to a program because of the free food but in October I am much more careful with my time and in November I cut out events almost completely.  There were several things this week I needed to go to that came with free food or other items.  Here are a list of free things that I got this week.  I’ve estimated the cost of the item if I were to go out and get it on my own based on the quality and quantity. 

Free Coffee & Mug from Green Mountain Coffee introducing their product to students.  Time: 5 minutes  Estimate: $5

1st Free Meal - Tuesday – Sandwiches, Salad & soda  I had to attend an event about the application process for a program that I will be participating in.  Time: 30 minutes Estimate: $ 8

2nd Free Meal - Tuesday - Two Slices of Pizza Attended a program about financial regulatory work.  Something else I am applying for next semester.  Time: 30 minutes  Estimate: $6

3rd Free Meal – Thursday - Two Slices of Pizza, 4 cookies & soda  Went to hear an ACLU lawyer speak.  I was really starving and and didn’t want to pay for food.  Time: 45 minutes Estimate: $8

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If you think as a student I am cocooned from the recession you couldn’t be further from the truth.  The recession has cost me my first job as a lawyer. 

In law school those who want to go into large law firm private practice follow the time honored playbook (1)  take out all sorts of loans to pay for law school at a decent school, (2) bust your butt to get in the top of your class, (3) get an offer from a big law firm for a summer job after your 2nd year.  The offer for a summer job basically guarantees you a job and a starting first year salary of $160K.

I skipped the first step by refusing to take out loans.  But, I did bust my butt so I could do well academically.  Step 2: Check.  I did get an offer to work as a summer associate at a large prestigious law firm with offices all over the US and internationally after my first year and after my second year.    Step 3: Check. 

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