I've posted a little bit on here about saving money.
Saving money is a good thing.
The problem with how I save money is usually I save money on stuff that I am buying.
Buying things isn't always a good thing.
Of course, everyone needs certain things, but truth be told, most of us do it in excess. (Buy things that is)
Personally, I have struggled because...well...I don't make much money. Goals like buying a car, getting my own home, paying off my debts seem almost impossible so...I just.don't.bother.
And I buy stuff.
It's true.
So, with a little bit of a monetary windfall headed my way (thank you, Uncle Sam!) I have decided to try to get a better handle on my finances.
I looked up my credit report for free here. I faced my debts head on. Now, they weren't as bad as I thought, but they are still bad. Ick.
I also signed up on mint.com to set up a budget for myself. It's a work in progress, but hey, now I have a budget! (Oh, and if you are interested, Mint has an android app and also an iPhone/iPod touch app.)
These are definitely baby steps for me, but they are steps in the right direction. Many young people struggle with money, and sometimes it is overwhelming to try and figure it all out...but I'm gonna try.
Someone's gotta pay the bills, right?
Do you have any advice for me as I work towards financial independence?
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I think you are making a great first step!! I had some credit card debt after college. My husband told me to go on a budget. Although I HATED It at first, I was able to pay it off all by myself! I just had to cut back on the "stuff". My first step was no longer buying my daily coffee on my way to work and I made it at home. That saved almost $12 a week right there.
ReplyDeleteMy biggest problem with this is when I'm AT the store - whether it's grocery shopping or whatnot... usually Target is the main culprit. I have to sit and talk myself out of things. I'll think "Oh, it's just $XX!" But then I have to stop myself and think, "But do I NEED it? Can I live without it? I really want to buy a house... is this more important than my own house?" I'll usually stand there contemplating for a few minutes until I put whatever it is back on the shelf. Or sometimes I'll put it in my basket, but before I check out I go back over everything and I'll eliminate stuff then with the same process.
ReplyDeleteIt's simple, but it seems to work for me.
I don't really have a problem with online shopping, it seems easy for me to avoid purchasing things online (although I browse a LOT)... but I would assume it would work the same.
Mint is how I learned of my disgusting Target habit. It's an eye-opener, but very helpful for getting on task where money is concerned.
ReplyDeleteGood luck!
I think you've already made some awesome steps - paying off debt is definitely the biggest and most difficult.
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