Budgeting & Money Management

moneyIn June, for the first time in my life, I won’t be a full time student anymore. I’ll have a “real” job and will have to think about everything that goes along with that. Health insurance. Loan repayment. Retirement savings. The list goes on and on. I’m the type of person that likes to be as organized as possible. I want to plan ahead and make the best decisions I can so I can meet my goals. But see, I don’t really have my long-term financial goals established.

I’ve spent a good amount of my free time recently educating myself on personal finance. If you’re interested, two great starting out books are Personal Finance For Dummies and The Bogleheads’ Guide to Investing. There are also a number of great blogs out there that I’ve been frequenting. Basically, I’ve come up with this summary: spend as little as you can and save/ invest as much as you can in all aspects of life to accumulate the most wealth. This is pretty simple, but it goes back to that whole “personal goals” thing.

[cc_blockquote_right]Its not a secret. Fashion & shopping blogs promote spending. This mini-series is intended to balance this blog out a little.[/cc_blockquote_right]The vast majority of my free money is spent on clothing, shoes & accessories. Though purchasing items used or on clearance does curve my overall spending, it does not change that fact that that I’m still spending money that could be “better” used elsewhere (it becomes a little more complicated because I sell so frequently, but that’s neither here nor there).

In the next couple of days I’ll know the cost my new apartment. I’ll then be able to sit down and come up with a reasonable budget for this upcoming year. Until then, I’ll have to think about what my goals are. Do I want to have a car? If yes, do I want to take out a loan for it or save up and pay cash? Health insurance… basic or better? How much do I spend on disability insurance? Oh, so many questions. Hopefully I didn’t bore you too much, I tried to keep it brief. 🙂 This blog will start to have more details about monthly spending (keep me honest, lol). Not exciting, no, but very important! Do share any budgeting tips that you have!