For all the smarts I acquired in both college and University, I never really learned that much about financial planning.
I know next to nothing about interest rates, the difference between net and gross pay, and what percentage of my income should go to savings. And forget about education plans for Kole or retirement funds for me in the future.
But that's the thing; I don't want to forget. I don't want to look back at 65 and not be able to retire. I finally got off welfare a little more than a year ago, and we've been having fun after paying off some previous debts. We've had in increase in rent because of my new income, and my student loans are rightthere in front of me, and I'm cautiously worried. Nothing bad has happened yet, but if I don't roll up my sleeves and start some financial planning NOW, I'm going to be a sorry person later on.
We've got no outstanding debts other than the student loan, and the only thing we need to set aside money for other than rent is travel expenses and groceries. And we're cheap girls. We walk or bike more often than take cabs, and our grocery budget is still that as on welfare: less than 100 bucks a month, and we've still got food in fridge by the end of the month. No, we waste a shitload of money on movie rentals and coffee to go. I buy my lunch more often than pack it, and sometimes I even spend money on new clothing, than just used.
We've had our playtime, but I feel it's best to start buckling down now. I don't want to look back and think how I did it all wrong. I shoulda, I coulda, now I can't is something I don't want to hear in the future.
And speaking of the future, I've finally decided to apply to Teacher's College. I won't get in for this year, but hopefully by the fall of 2006, I'll be there. I've hmmed and hawed about for the past 2 years now, and finally feel that now that Kole is in school full-time and is more independent, that I can handle a full courseload and depending where I am accepted, will be able to leave her in the care of my parents if need be.
Big steps and baby steps. That's what life is all about.