An Interview with MFA or Bust

The College Money Network recently welcomed its newest member, Spilling Buckets. While we only added one new blog, we gained two new members, because Spilling Buckets is run by a blogging duo. Be sure to check out their blog after you’re done here. Now it’s time to meet another member of the College Money Network. This week I’d like to introduce you to MFA or Bust.

1. Describe yourself in 10,000 words or less, preferably less.

I’m the 20-something female blogger behind MFA or Bust, where I write about my personal-finance travails in trying to live the good, yet financially (and occasionally socially) responsible life in New York City. But having just gotten my foothold on financial stability–my credit cards are finally all paid off, and I’m saving aggressively–I’m about to leap back into the stormy waters of debt for… a master of fine arts in creative writing (gasp! shock! horror!). I’m looking forward to putting all my new found PF knowledge to use as I revert back to genteel student poverty.

2. What made you decide to start a personal finance blog?

I was struggling to get out of credit-card debt (my all-time debt high was $10,707.87 in January 2007, and ten months later, I still owed $7,292), and I began reading PF blogs as inspiration to change my slippery one-payment-forward, two-credit-card-charges-back ways. I started MFA or Bust to track my own progress, but the idea of being publicly accountable remains a powerful motivator in keeping me more or less on the path of budgetary righteousness.

3. What has surprised you the most about blogging?

How *hard* it is. I assumed that I would have so much to share and say, but I’ve been surprised that 1) I’m really concerned about remaining anonymous and 2) I need time and thoughtful consideration for even really simple posts. I have the highest respect for more prolific and expansive PF bloggers. How the hell do you guys find so many relevant, meaningful, and interesting things to blog about?!

4. What is the most important financial lesson you have learned from college?

If you’re going to pay good money for something, make sure you’re getting the most you can out of it–and this is as much a qualitative judgment than a quantitative judgment. So, for instance, if you’re paying for up to five classes, but only taking four, consider auditing an extra class (perhaps in subject that’s unrelated to your major, but that you’ve always been intrigued by) for the learning experience; at the same time, make connections and create new opportunities–academic, social, or otherwise–by engaging with your professors and your fellow students outside of the classroom.

5. If you had to pick three of your favorite posts to share with a first time visitor, which would they be?

I’m going to cheat and pick two sets of related posts. (She’s obviously not going for a master’s in counting.)

• Forecasting student loans — a grim estimation of my worst-case scenario for student loans
• Student loans revisited — a happier reassessment of my situation

• Current stats — my very first budget
• Updated income vs. expenses — serious squeeze edition — my latest budget

Thanks for your time, MFA or Bust!

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