In Her Purse: Maria DeVoto

Scrunchy, water bottle, and Sidetracks party game

Welcome to The Purse, a newsletter about money and women and motherhood and careers and all that good stuff!

Before I dive in to today’s newsletter, two quick things:

1. I have sent a couple of emails to the winner of last month’s sweepstakes for paid subscribers, but I haven’t gotten a response yet, and I’m worried it’s buried in their spam folder. So this is a shoutout to check your spam folders, as I sent one more email this morning. (Subject line: The Purse.)  If I don’t hear back from the original winner by Friday, I’m going to choose a new one.

2. Just a reminder that I’m donating $5 to Chamber of Mothers for every new annual paid subscriber who signs up between now and May 31. Thank you so much to everyone who’s already upgraded to a paid subscription!

I’m deep into “The Purse Focus Week” and giving myself a little time and space to do some plotting and planning for the next phase of The Purse. As I mentioned on Monday on Notes, this week marks one year since I left Fortune, and I’m feeling all the feels as they say. I’m not going to get into it today (this week isn’t about writing; it’s about business), but I promise to dig into the experience of quitting my fancy job, launching a newsletter, and blowing up my life real soon, so stay tuned!

This week, we have a fun In Her Purse from fellow Substack money writer Maria DeVoto, who writes Ten Dollar Latte, a newsletter where she documents her monthly spending in New York City and muses about life and money and careers. When I first launched this series, I put out a call for people to suggest women I should profile¹, and Maria nominated herself, which I love. If I’ve learned anything in the past year, it’s that you have to ask for what you want. And one of my favorite things about Substack is the supportive community of writers I’ve met here. Needless to say, I was more than happy to feature Maria.

Maria not only writes about personal finance, but she’s also the co-founder of Sidetracks, party card games that are all about getting deep with friends and family (with a drink in hand). She lives in New York City with her cat, Tompkins. I’ll let Maria take it from here.

The Questions

What is your idea of perfect happiness? Being surrounded by family and friends, ideally by the pool or at the beach in the summer, or on a cold day in a cozy bar.

What is your greatest money fear? Being stuck in a situation I’m unhappy with (like working a job I don’t like with limited PTO/flexibility or a bad living situation) because of money.

What is the financial trait you most deplore in yourself? I am very frugal, sometimes to the point that I can’t enjoy something because I’m thinking about how much money it costs. I’ve definitely gotten better with this over the years, though.

What is the financial trait you most deplore in others? When people brag about how much money they have. I actually really enjoy talking about money, but it drives me crazy when people brag about the money they have, especially when it’s unearned (inherited) money. I understand that it comes from a place of insecurity, but I’d rather just have honest money conversations about that.

If you could change one thing about your financial situation, what would it be? Own an apartment in NYC outright so I don’t have to worry about paying rent ever again (and if we’re dreaming, I’ll pick the penthouse).

What do you consider your greatest financial achievement? Building up a savings so I could invest money from my savings into my business. There was a lot of frugality and hard work that went into building up my savings, but I totally owe my parents for teaching me how to save money (and letting me live at home for a year post college!).

Where would you most like to live? The neighborhood in NYC I live in now, but in the new elevator-doorman building next door instead of my walk-up.

What is your most treasured possession? My passport. Traveling has enriched my life in so many ways.

What is your greatest money regret? Being stingy with treating friends in the past. The whole point of having money is being able to spend it on what you enjoy (and share it!).

What is your money motto? Spend money wisely. I’m over buying things that I don’t need or won’t make me fulfilled—I try to make every purchase very intentional.

What is a nonprofit that’s near and dear to your heart that you’d like Purse readers to know about? Sandy Hook Promise is a nonprofit that runs programs to help prevent gun violence. I grew up in Connecticut near Sandy Hook, and I donate to this local nonprofit regularly.

The Purse

1. My water bottle. I covered the company logo with stickers.

2. Loyalty cards for my favorite local coffee shops (and for Knitty City on the Upper West Side).

3. My sample deck and business cards for my small business, Sidetracks, that I always carry around just in case.

4. Spare hair ties and scrunchies, also just in case.

5. My sunglasses, bought at a local thrift store.

6. My Silk and Sonder journal and a pen. It’s also my planner.

7. My Airpods. I used wire headphones for a few years after I lost my last Airpods, but I’ve had these ones now for a while! The case was a gift.

8. My Loop Earplugs. I can’t do a spin class without them.

9. Cash. I work at a local bar one night each week (best side gig ever) and pay my cash tips forward by tipping in cash when I go out to other local bars.

10. My wallet, with my keys, library card, credit cards, and a Metro card that I never use since I always use OMNY now.

11. Tote bag. I prefer a tote over a traditional purse since I can fit more in it—including my groceries when I stop on the way home! This tote bag was a gift from my sister.

Thank you so much for sharing, Maria! And if you’re not already a subscriber, be sure to sign up for Ten Dollar Latte!

Random Extras

• I finished Kate Kennedy’s Once in a Millennial last night, and I cannot stop talking about how much I loved this book. (Or tagging Kate in posts about it, LOL!) It was just so good: funny and smart and so relatable. I found myself nodding along the whole time. I listened to the audio version, but I’m thinking of buying a physical copy as well because her writing is just such a delight!

• I’m back this morning on the Substack app with another #IamRemarkable chat! Stop by and share your win! I loved hearing from everyone last week!

• Rebecca Gale (who writes the wonderful It Doesn't Have to Be This Hard newsletter) announced this week that The Better Life Lab at New America is offering another round of child care reporting grants. They’re looking for solutions-oriented stories focusing on how and why care issues matter to families, our country, and a thriving economy. I really can’t emphasize enough how important the childcare beat is—and how little it’s covered. If you’ve got a story, please reach out to Rebecca!

• One last shoutout for the WIN Summit, which is happening next Thursday, May 30 in NYC. I’m moderating a panel about ambition and motherhood, and the panelists are so good: L'Oreal Thompson Payton (who writes the great LT in the City Weekly newsletter); Hitha (whose With Hitha newsletter is on a bit of a hiatus but still a favorite); Erika Hanafin Feldhus, CEO of HeyMama; and Elizabeth Tenety, co-founder of Motherly. Purse readers can get 20% off when you use my code LS20 to register for the WIN Summit.

More on The Purse

Let's be real: Salary transparency is complicated

Home Economics No. 5: Living in the New Jersey Suburbs on a $800K Joint Income

Division of Labor No. 4: A writer and a lawyer raising 3 kids in Washington, D.C.

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If you enjoy reading The Purse each week, there are a few ways to show your support: “heart” this post, leave us a comment, upgrade to a paid subscription, or share The Purse with your friends.²

1. I have the next few women picked for In Her Purse, but I am always looking for new participants for this series as well as Home Economics and Division of Labor!

2. Shoutout to Platonic Love for inspiring me to add this footer! If you’re not already subscribed to their newsletter, you should!