Wednesday, January 28, 2009

Retirement is a long way away...

The first genre of blogs that I became obsessed with were blogs about Personal Finance. I was so interested to see how people save and spend their money. Since I am part of a generation that will most likely not receive a dime of Social Security, I am very conscious of the importance of "starting early" and saving for retirement.

I decided that I should set a few financial goals for myself for 2009. Here are some of my goals:
-Save 6 months worth of an emergency fund. *This meaning that if I lost my job, I would have 6 months of expenses saved up, separate from my savings. Currently, I have about 3 months saved.
-Start at $500 gift fund. I have several weddings to attend this year and will most likely need a cushion to buy all their gifts. In case you didn't know, bridal registries can be outrageous!
-Take the GMAT. Now I know this is not an actual monetary item. However, going to Grad School is proven to increase your worth to employers, thus increasing your salary and net worth. And since the company that I currently work for offers tuition reimbursement, I think it would be worth it to think about Grad School at some point.
-Reduce the amount of money spent on groceries and eating out. Lately my grocery bills have been outrageous. I think it is because I have a problem of going to the grocery store hungry and then I leave the store with a cart full of ice cream sandwiches and Doritos. That's a story for a different day.

On a lighter note, I stumbled across this article for anyone that banks with Bank of America. If you were charged an overdraft fee between '00 and '07, you may be eligible to receive $78 from a recent settlement. Fortunately, I fall into this category. I attended college during a portion of that time frame. And just about every college student overdraws at some point in their college career because they all need to feed their need for pitchers of beer. Read the article here.

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