i feel really lucky that i have managed my money so well and after looking more at some of the advice that i got on the financial fitness quiz i want to do more with investments, but i need to figure out how... i know having my money in a savings account is doing me nothing. i am lucky that i don't have any credit card debt like so many people i know and that i'm not living paycheck to paycheck. last spring when i moved back to the states i was living like that and i wasn't making enough to cover my student loans/rent/car payment and having to take money out of my non-existant savings was hard, especially because i tried to save money when i was living in ireland so i could have savings for when i moved back to the state.
and one thing that has enabled me to do so much saving, though it is slowly killing my soul has been living at home since september. where i live rent isn't cheap, for a 1 bedroom apartment i'm looking at $800 a month plus utilities, so everything i've been able to save will one day be going to the housing fund, so i will have to be better with my money. because i've splurged this year - i bought a new macbook pro, a nice mountain bike, went to (and bought tickets as gifts) to a few concerts, did a lot of shopping (thought almost everything i buy has to be on sale). i also love the meeting up with friends for dinner and drinks, i love traveling on the weekends to see friends and it all adds up. i also splurge every three weeks to get my mani/pedi. but i try to be good and stick to my budget. i also just found this awesome website - www.mint.com where you can track all your spending and it connects to your bank accounts/credit cards/loans and lets you know where your money is going. i have a feeling it is going to be my new favorite website for financial related things.
so how do your feel about your financial situation?
Disclaimer: This post is part of the 20SB Blog Carnival: Friends & Money, sponsored by Charles Schwab. Prizes may be awarded to selected posts. The information and opinions expressed in this post do not reflect the views or opinions of Charles Schwab. Details on the event, eligibility, and a complete list of participating bloggers can be found here.
5 comments:
Good for you for being so responsible. It's kinda sucky to be all adult-like and manage things well, but it's such a good skill to have at a young age. It will benefit you SO much when you're older! Plus, you're getting into good saving habits now, so you'll have plenty of time to save up for a house/car/whatever you want in the future.
I live paycheck to paycheck for the most part, but I'm completely debt free. While it would be nice to have more money, I do okay with what I have. I have a budget and stick to it for the most part. I have to splurge every now and then, of course, but I'm very responsible with my spending. I met with a financial planner at my bank a few months ago to change up some of my accounts and talk about future savings goals, etc. and that was really helpful. We changed some of my stuff around to maximize my savings and gain interest, etc. I have a fantastic credit score, which totally surprised me, but I'm glad. It's sometime a pain in the ass to be so damn responsible, but it's totally worth it.
Yay you! :)
Wow! It sounds like you're doing awesome! Congrats!
I was saving a lot when I was living at home (even with my $11,000 a year AmeriCorps job), but since I've moved out I do feel like we're living almost paycheck to paycheck. I'm able to save some, I'm debt free, and I have no car payment. But rent, utilities, groceries, gas, car insurance, phone/TV, YMCA membership, etc is really catching up with me.
I don't feel like I'm a liberal spender (and when I've been buying most 'fun' things recently, they've been 40% or more off), but I almost feel like my Y membership is a 'treat.' Shouldn't being healthy be a part of normal life? We go out to eat every now and again, but it's usually less than $30 for the two of us, including tip. I'm down to 1.5 pairs of jeans, which is kind of a problem...
I feel like we're already stuck in the rent-payers-slump... you keep paying rent and aren't able to save enough to buy a house, so you just have to keep renting...
I've got some savings, but its nowhere near a downpayment for a house or anything.
I do love ING direct, better interest rates, and money is nearly out-of-sight, out-of-mind (so then I don't think about the money that I've got stocked up). If you want an account, let me know... you get money for opening one, and so do I! :)
That's great you are so good with money! I'm pretty OCD about certain things so I alaway make sure I have enough money to cover things and some extra for the just in cases that can happen. The only thing I really need to do is start saving for retirment. While I do put money in my savings every month, I need to open up and IRA soon.
Three things...
* Check out an online savings account (mine is through Ally) if you want a better interest rate than a bank but not have your money tied up in investments. The interest rate is pretty good (1.29% APY) and the money is very liquid (I can transfer back and forth from Chase very easily). I put all of my extra financial aid money (for future months) in there until I need it, so Im at least earning interest on it.
*Fidelity has worked really well for me as far as investments go. They are always available to answer questions and have a lot of options for your money (and its all online).
*Mint.com is AWESOME! I need to get back to using it more now that Im living off the Federal Government! :P
Glad to hear things are going well in CT! Enjoy your summer! :)
The main things I spend-spend-spend on are travel and eating out - but even then, I look for the best value I can find, and keep within what I can afford. It would terrify me to have "real" debt (student loans don't really count... at least in the UK)
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