But... I don't wanna grow up

Today is my 27th birthday. My new focus on my finances has been making me think about my long-term goals. I'm not where I thought I would be at 27. I was expecting to be at the point where I was financially secure. I never imagined I'd go to grad school and end up with so much educational debt. I also thought I'd be close to the point where I could afford kids. I'm so nowhere near that point. It's kind of scary. I'm really going to need to figure out how to get some extra income coming in. If I could do that, I would put it all into savings and investments. It's just a question of how. I'll be making $3,000 more a year at my new job, but I'll also have expenses I don't have at this job. I'll have to pay my own health insurance premiums, for one (my current agency pays employee premiums). A second job may be a possibility, but I at least have to get settled with the new job first - I don't want to overload myself.

Eh, quarter-life crises suck.

One more week

I have one week left at my current job! Unfortunately, I don't get a break before starting my new job. P and I are supposed to be going to visit her family next weekend. I'm debating whether to go with her or not, as it's kind of exhausting - a 5 hour drive each way and I usually end up baby sitting for her sister while we're there. I don't want to be feeling tired and lazy on my first day!

This week has already been exhausting. Between my current job which constantly keeps me running, having my pre-employment physical and HR meeting for the new job, and practicing for my first student performance, I've been insanely busy. I would really like to do nothing this weekend, but I know that won't happen!

Investing

I have to admit, I’m pretty clueless when it comes to investing. It was something that my mother never taught me about as a kid. Hell, we rarely talked about money at all. Several years ago I read a very basic personal finance book which introduced me to investing – something I had never imagined myself doing. Here’s what I remember from that book: money market funds are a safe place to keep an emergency fund because they are extremely low risk, but also low reward; bonds are slightly higher risk and slightly higher reward; stocks offer greater rewards but at the expense of being extremely risky and difficult to understand. Admittedly, after three years I’m sure my memory of this book has become foggy, but this is what I took away from it. Consequently, what money I did sock away was all stuck into a money market fund for safe keeping. I always planned to learn more about investing and diversify at some later point when I had a better understanding of what I was doing – that point just never came.

My trusty money market fund has done its job. My savings were kept safe and earned at least a small amount of interest, and it did help me out in an emergency. Last year when the hand-me-down car I’d been driving since I first got my license finally decided to die, my money market fund provided me with enough money to make a sizeable down payment on a used car – without totally wiping me out.

However, the time has come for me to finally do what I promised myself I would do years ago and start learning more about investing. To that end, I’ve begun reading Charles Schwab’s New Guide to Financial Independence. I picked it up at the used book store a couple years back but never got around to reading it. I’m now on page 62 and so far, so good. It starts off very simple and explains investing in a non-intimidating way that even the novice (aka – me) can understand. I was worried it would be somewhat dry, but it’s held my interest so far and I’m zipping right through it. By the time I finish reading this book, I plan to (dun-dun-DUN) diversify my investments.

July Transportation Challenge Update

My goal was to spend $80 on transportation for the month of July. It's the 15th and so far I've only spent $20.34 on gas - when I filled up at GetGo using my Fuelperks. My tank is still 3/4 full! Looks like I'll be well within my limit. I haven't made much progress on my other July goals, though. I should probably get on that.

Paying Yourself First

I first became interested in personal finance about four years ago. I was fresh out of college and had my first full time job and very few expenses. I read a few books on the subject and began saving my money. This is when I first came across the idea of paying yourself first. Unfortunately, I never put this idea into practice. I did, however, start a modest savings and opened an investment account. Two years later, when I started grad school, it became next to impossible for me to put any money into savings, as I was living on very little income and accumulating quite a bit of educational debt.

Now that I'm done with grad school and beginning my career, I'm making it a goal to start paying myself first. My first step in this is to get my budget in order so that I can accurately gauge how much money I need to get myself through the month, and how much can be saved. Once I have a realistic idea of how much money I can save, I want to get to the point where the first thing I do after I deposit my paycheck is transfer money into my savings. That way it's not sitting in my checking account just begging to be spent. When I start my new job I want to start making automatic 403(b) contributions, as well.

I don't make a lot of money, but I also don't spend a lot of money. Putting money away before I even really "see" it shouldn't be too difficult. It's just going to be a matter of making it a habit!

Leaving the door open

Yesterday I was talking to my supervisor about my new job and she asked if I would want her to contact me if a similar job opened up at the agency. Of course I said yes! I really would like to come back to this agency again. I've worked there in the past and know quite a few people. It's a really laid-back and friendly atmosphere. Plus, the benefits are the best that I've ever even heard of. I mean, they PAY their employees health care premiums! I'm so glad to know that they would want me to come back. I was scared that I would be burning my bridges by leaving!

Chargeback? wtf?

I've been getting in the habit of consistently checking my bank account online in order to help keep track of my spending. I logged in today and see a mysterious charge for $50 which is described simply as "Chargeback, store #1234". Huh? I've never seen such a thing before. So I call my bank and talk to customer service. Turns out it's a bounced check. A check I got as a graduation gift. And now I'm going to be charged a $10 fee for it. ....Thanks???