I'm a big fan of the book Freakonomics, but even more than that I'm a big fan of the writers blog which is here on Nytimes.com. One of the posts really caught my eye: This one, about the financial stupidity of Americans, got me to thinking. We had a very basic Personal Finance class back in High School, plus I took another class that dealt with doing business type things that included balancing a check book, but I really went into college with no idea of budgeting. Luckily I'm a naturally stingy person by nature, but even then I felt the crunch of not knowing nearly enough about my finances all throughout college. Things are even more compounded now, just because I'm officially "on my own" and I've got to start saving for retirement, paying all the different insurances, stuff like that. I'm putting away into my 401k through work already, and my plan was to save up $10,000 as an "emergency" fund before I started putting money away into a Roth IRA, but this summer of excess really put a hampering on my savings plans. It's hard to sit inside and not spend money when there's so many things to do and places to go out there. The good thing is that I'm not big on material possesions, so I won't be making anymore big purchases in the upcoming months (other than some more clothes for work, and a wireless card for my computer), but I still should budget my "fun money" a bit better than I have been. Winter is typically my hermit phase of the year, where I spend most of my time inside reading, watching movies, and playing video games, so maybe I should focus on saving as much money as possibly during those months, then relax a bit during the summer. I'll have to give that a test run this summer and see how it works.
2 months ago