ok. So here’s the deal. I’m going back to school in a couple of months. Unfortunately, I have been spending like crazy during my sabbatical year so I didn’t save up for the stuff you need for school: ie health insurance, tuition, etc. But at the same time, because I’ve been so used to having my parents provide everything for me, I haven’t really been budgeting myself very well.
So after reading a couple of financial blogs (a few are actually quite entertaining), I’ve decided to try to be focus and to have a reminder of how much debt I’m in (wayyyy too much) and how I’m going to eventually pay it off. I mentioned in a previous post that I’m playing the zero transfer game. Well, the ticker for that debt is on the page. Along with what I actually have in the bank and my savings goal for the next three years(the total actually represents everything in checkings and savings, which I know for most people is a no-no since you want to have only savings so you know what you actually have saved up). I also have a separate ticker for the stuff in this investment money mangement fund by First Investors because interest rates for money market funds are so bad right now, its not even funny and I’m hoping that their higher interest rates might work in my favor. That said, this is an investment, so I might make a loss (I really hope not!) but its targeted at ‘conservative’ investors so…I guess we’ll see. Anything in that fund will be a slush fund, aka money I need due to my stupidity.
I still would like to have a life. I want to be able to live a normal life but I also want to save. That means I have to be frugal, which I will try really really hard to do, but I don’t want to miss out on the fun, especially in the last few months when the weather will be getting better and all of us will be trying to spend as much quality time with each other as possible.
I really hope that the risks I took with this zero balance transfer and with this money management fund will pay off.