Monday, June 2, 2008

Welcome!

After taking a fantastic "Personal Finance" course as part of my Finance major at my now alma mater, I became hooked on the subject matter. I turned towards the Internet to continue my education on personal finance and, lo-and-behold, I came upon the wonderful community of personal finance blogs! So, for the past month or so, I have spent many days just reading the wealth (no pun intended!) of information from various perspectives of those who are also attempting to navigate this topic within their own lives. As a brand-new college grad who is still in the job-hunt process, I have slowly started to put into perspective everything I learned in the course. Add this to what I have been reading about real-world experiences via blogs and it certainly makes for a good basis. Thus, I wanted to become a part of it!

As stated previously, I have a degree in Finance (cum laude) from a private university. My parents have always been my rock, both emotionally and financially. My dad works in finance and has been a huge influence in my choice of major and future career path, and he could not have been more proud when I began calling him weekly to update him on what I was learning in my Personal Finance course. I have been blessed enough that he has made enough money to pay for my college education, such that I graduated without any debt. Always having been extremely open with my parents about money, and they to me, I feel like I have learned a fair amount but I have a long way to go - especially once I land a full-time job and therefore start down my own financial road. This leads to my "Current Net Worth." In my checking account, from prior summer internships and an on-campus job, I have cash in the amount of $3,931 (in a checking account) but I also have my car, valued at $10,000 according to Kelly Blue Book - though obviously this is a depreciating asset!

I am extremely happy and blessed to know that I am not coming out of my expensive university with any debt, let alone thousands like the majority of my friends have. But, I realize that now I need to start getting my finances in order, instead of having too much money sitting in my checking account, where it could be earning interest in a high-yield savings account...

This leads me to quickly run down my goals for the rest of 2008 (until I land a full-time job and can change those goals accordingly):

1.) Donate to charity
2.) Open an ING Direct Orange Savings Account
3.) Open a Roth IRA (either Vanguard or Fidelity)

This has been a very long and involved post, I know. I can ramble and write a lot when I truly enjoy a subject! :) Anyway, welcome to my blog!

2 comments:

tenner June 11, 2008 at 9:27 AM  

"obsession with food and travel" hahaha..that sounds like me. i graduated 2 years ago and then got into pf even though I've never taken a class or blogged about it. Definitely open an ING savings account (Let me know if you need a referral and u can get $25) AND a vanguard ira roth. i did both just last year and wish i had known earlier! good luck with everything

Tom June 11, 2008 at 4:32 PM  

Best of luck with the blog!

Also, vanguard Roth IRA for sure. If you don't have the assets to create your own personal allocation (because of all the minimum investments) just stick your $$ in a Target Date Fund... I have all of mine in the 2050 Fund.

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