I don’t have my finances together.
I have retirement accounts–but I don’t know any of the details. I don’t know how much money I have in total. I don’t have an investment plan.
I save money, but I’m not sure that I’m putting it in the right place. Should I be investing it in index funds? Hoarding it in my checking account? Underneath my mattress?
Like a lot of people, I try not to spend to much. I’m trying to earn more. I’m building up my savings. My husband and I don’t have student loans anymore. I skip lattes out. (I drink tea that I make at home, instead.) But do I have a clue about what retirement funds I’m invested in, or what their fees are?
No, I don’t.
But I know enough to know that earning money is just the first step. If you want to keep and grow your money–and maybe have the financial means to write novels full time one day–you have to manage your money. Even if you are making very little. I’m not raking in millions, folks. As a college administrator, my pay is very modest. But I need to have a plan to deal with the savings I do have.
Here are 3 Baby Steps I’m Taking to Get My Finances In Order in October:
- Add the money I have and the money I owe to my Personal Capital account to see what my net worth is.
- Track all October expenses. October is going to be a weird month, because we are moving further upstate. But I feel like every month is somewhat of a weird month–large once a year expenses are always coming up! I just got my 6 month car insurance bill, for instance. It will be helpful to know what we spent on food, restaurants, etc. So we can do better. Look for my October expense report on the blog in early November.
- Find an Apartment in our new Town that is Inexpensive This will impact my finances for 12 months and is the most important financial decision I will probably make this year!
How are you examining your finances in October?