Saturday, October 10, 2009

Learn Something New everyday

So on my quest to become more financially educated and independent, I am reading a new book called, "Rich Dad, Poor Dad." I heard about it online and noticed that the people I'm staying with had it. So I opened it up and can't put it down. Robert Kiyosaki makes the most intriguing points about personal wealth, investing, and managing money. I haven't finished it yet, since I started it today, but I can already tell its a great read especially for someone just starting out in the world of financial. Kiyosaki puts everything in easy-to-understand terms, and using a lot of diagrams to get his point across. As a very visual learner I found this to be a huge help as I understand things much easier when I can look at them and memorize them.

So I would recommend this to anyone look to gain some insight into the "rich" ways of thinking and managing money.
With that said, I learned a hard lesson today about being more careful with ATM's and traveling abroad. The other night when me and my boyfriend went out, I used the ATM twice to get some cash out using my American Card. The ATM didn't charge any fees which we thought at the time was great. I knew there would be a .03% international currency exchange fee, but what I DIDN'T know was that my bank would charge me $10, you heard me, 10 dollars each time I used the ATM. So that would be a cool 20 Dollars to make 2 separate transactions to get out $130. In addition to the train ticket I bought $6.50, dinner I bought $20, 2 drinks $10.
1 friday night out cost me $186.50. In addition to separate currency fees at .03% each. So total I spent probably upwards of $190 in one night.
I'm clearly living way beyond my means at this point. Seeing as my current income is a big $0.
So I have to start being more active in controlling how and why I spend my money. I'm going to create a budget on Mint.com and see if that helps. And although the ATM snafu is completely infuriating there is not much I can do about it. So I have learned and will not be so foolish next time.
I have been figuring out how to gain more assets through my Vanguard account. As I started out with $1,500 just to get my feet wet. I want to invest about $2,000-$3,000 more in different funds, bonds, or CD's. I have to thank my parents for :
A) Buying me a car my second year in college
B) Being smart enough to allow me to sell it
C) For letting me keep the money to continue my education
D) For not getting irate with me when I invest the money
E) Trusting me that I will not make the same financial mistakes they did
F) Giving me lots of hugs and kisses as a child (this doesn't really pertain, I just love them for this)

Hope everyone is having a wealthy and happy day!



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