Wednesday, May 7, 2008

Whoa!

I finished college this morning. Like... it's all over (and I did it in four years! Woohoo!) Here are some thoughts:

1. Natalie and I will be millionaires by the time I am 30. (That's 9 more years, for those of you counting)

I am really getting into personal finance. I picked up one of Dave Ramsey's books, the Total Money Makeover, this evening (since I don't have anything to study for...) and I'm going through his plans. It all makes perfect sense, and Natalie and I actually follow most of what he says already.

We currently have a net worth of about -$1000 ($14,000 liquid funds, $15,000 in student loans), so we have a ways to go.

Growing up, my parents were in debt. My mom decided to always mention what she was looking at, and what their financial situation was ("My retirement money went way up this week! Look!"). My dad wasn't so sure about keeping us in the loop about their finances. He didn't want us to have to think about it or worry about it. Looking back, it's one of the things my parents taught me for which I'm most thankful. I know to avoid credit card debt, I know to live cheaply. Natalie was just born cheap and a saver, so I don't have to worry about her. :)

Being a millionaire isn't about having nice things or making lots of money. I don't want to pursue it for money's sake. It's a challenge, it's a commitment and it's a responsibility. I don't consider myself one to turn those things down. Better yet, if you have more, you can give more. Plus, I can teach other people about money when I learn enough about it!

Also, I'm considering paying 100% down for a house... I'll have to talk to Natalie about this one first.

Also also, check out the blog Get Rich Slowly. Good stuff.

Also also also, check out Mint. The only disadvantage is tracking usage of cash.

2. I can't WAIT to start reading again.

I forgot how much I enjoyed reading. I've kind of forgotten about it for the past four years because of all of the required, assigned reading in my classes. I finished my last test about 18 hours ago and I'm already 106 pages into a new book. I love learning what I want to learn.

3. 5 years ago I began questioning a lot about wants vs. needs.

I am going to reconsider what kind of things I am wanting (a 24" iMac... so sweet) vs. what I need. I don't need an iMac... but I wannnnnnt it. Maybe I could settle on the 20"er... or just my current PC. I am cursed-- I can never justify getting a new computer because I know how to fix all of their problems.

I want a scooter. It makes financial sense (gas at $3.50 and all) and it's really fun... but there's the initial investment.

4. College is over. So now what? Suggestions are welcome-- I don't have any homework to do!!!!

5 comments:

Dana said...

Woohoo! Congrats on finishing college! My Mom swears by Dave Ramsey -- they've always been really good with money, but in their later years, I think his principles have helped them even more. Way to start early!

James said...

You can help me with finances. I say this with no disrespect, but my parents ended up teaching me the opposite of good finance habits, so now I'm trying to relearn while dealing with $1000 of credit card debt by the time I'm 19.

Cassandra F said...

Congrats on graduation! Ok, so since you have moved I am not sure if y'all are still going to attend Denton Bible. If you are, I would suggest attending one of their financial seminars. If not, go to www.crown.org and check out their Money Map. My husband and I have always had a budget and have always done well financially, but when we attended a Crown financial seminar we realized that some of our priorities were out of place. Now, we have almost all of our debt paid off (except student loans) and we are actually living comfortably on just my husband's income (until after I graduate Saturday - YAY!). We even put money back for everything we know we will need throughout the year and it allows us to always be prepared. Feel free to ask for our budget spreadsheet as an example (I can just delete our stuff). I've learned that if you keep your priorities straight then God will provide you with anything else you need. Then, later you can get the things you want. Good luck to the both of you!

Benj said...

Please don't turn this into a blog of finance, brother.

Justin Pocta said...

woooo, spring brreaaaaaak!! now we can save up and work and have fun and live it uuuuup!!!!

also, keep in mind refurbs! i saw an excellent deal on a 24" version prior to the current models, i think...good stuff.