Anna Ivey	The Week of September 10th, 2006

Ivey League

1. What’s in your wallet right now?

Dollars, Euros, credit cards, insurance cards, my Transportation Security Administration Clear Card, my driver's license, a gazillion receipts I need to get into Quickbooks, and my dog's 2006 rabies tag which I have yet to attach to her collar (need to find the pliers to do that).

2. What do you wish your parents taught you about money?

I wish I had been more clear-headed about educational debt. There was an ethos in my family of treating fancypants schools and degrees as priceless, but they do have prices, and there's a limit to how much it makes sense to borrow for school. I know my parents had disagreements about the educational direction for me to take, but at the end of the day, those were mostly my loans. I didn't really think about what I was getting myself into financially.

3. What is your worst habit around finances?

I vacillate between periods of willful ignorance and compulsive planning. It would be good to smooth those cycles out a bit.

4. What makes you happy?

Peace and quiet + good book + jar of Nutella.

5. Personal philosophy around money?

I lived off of almost nothing in college, and I know that whatever comes, I can do it again if I need to. That gives me a lot of confidence when I'm taking financial risks.

I also observed that as my cash flow improved over time, my expectations rose to fill the vacuum. I've learned that above a certain threshold (the ability to meet basic needs), there's not some magical thing out there that would make me happier if only I could afford it.

Also, know what you're spending your money on. It's a hassle to track your spending, but you have to do it. Kind of like flossing.

6. Where does money come from?

Hmmm. I would have to guess the Phoenicians. I think they invented it.

Where does *my* money come from? I'm still earning most of it — I'd love to put more money to work for me, but that will come over time.

7. What would you do with a million dollars?

A girl should always be prepared for that scenario, I agree.

I would pay off my student loans and my mortgage. I would pay my taxes for this year and get a leg up on next year's too (always painful for someone who doesn't receive a paycheck — no withholding). Put some to work for my retirement and my parents' retirement. (They are boomers — I have no idea if they're financially prepared for old age or not.) Agonize over which charities to support. Gosh, a million doesn't quite go as far as I would like.

8. What is your most prized possession?

My grand piano.

9. Who is your role model?

I admire my mother for starting life over in her forties. I admire my father for learning new things no matter his age. I admire my husband for starting with nothing and making his own way. I admire my sister for standing up to bullies. I admire people who do dangerous jobs for little pay or recognition. I admire people who can walk away from conventional rewards.

10. What is your greatest achievement?

Morphing from a pessimist into an optimist.

11. How did you decide to be a writer?

I've always loved to write, and for a long time I assumed I would never be able to make a living doing it. I even remember being in college and thinking, "Well, I'm a good writer. How do I make a living doing that? I guess I'll go to law school." Talk about a stupid reason to go to law school.

It would be a huge luxury to write full-time, but for now, I'm pleased to be writing anything that others find useful. "The Ivey Guide to Law School Admissions" was a lot of fun to write (I was frustrated by the other guides out there, written by people with zero admissions experience, and I was tired of the marketing BS that admissions officers have to spout), and I'm getting a kick out of my blog about life after college.

12. What contributions to society do you want to make?

I realized one day that I didn't want my legacy to be, "She helped close that deal," or "she encouraged more people to go insane trying to get into the Ivy League," or "she helped the privileged get even further ahead in life." I know there are people doing things more socially useful than I am, but if I can help twenty-somethings of all stripes make smart life choices, I'll feel a lot better about what I leave behind. I also work with students pro bono on a case by case basis — not everyone has access to great college counselors or career centers or admissions-savvy parents, so I try to do my part to narrow that gap.

13. If you could buy one thing right now what would it be?

A Fijian island. A small one would do.

14. Favorite activity that doesn’t cost a dime?

Romping around with my dogs.

15. How do you indulge yourself?

I buy books and iTunes tracks without thinking twice. And I spend too much money on makeup. Damn you Sephora! (See, you need to know where your money goes.)

Anna Ivey is an author and career counselor. Former Dean of Admissions at University of Chicago Law School, Anna Ivey decided who got in . . . and who didn't. She explains the process in her new book, The Ivey Guide to Law School Admissions. Anna helps make college students and recent graduates make smart choices. Check out her website, AnnaIvey.com, and her blog, IveyFiles.com.

---

« Previous Interview

Next Interview »

Send to a Friend:

From:

To: