December 30, 2007

Year End

This is one of my overstuffed bookshelves - you might also guess that I got a digital camera for Christmas! So prepare yourself for many more pictures!

I've been going through my TBR pile, and I'm trying to decide what challenges to accept for the year. (Suggestions are welcome!) I'm hoping to do some that allow me to use books I already have, but I do feel a need to expand my horizons a bit. One thing I want to do is read more personal finance books. This is an area of my life I've been neglecting for far too long. I just successfully paid off all of my credit card debt, but now I'm facing student loan debt and the fact that I have very little saved for retirement.

I did get a surprise ARC in the mail - "The Winter Rose" by Jennifer Donnelly. I think that'll be first on my list to read.

I am considering doing the super NaNoWriMo: Blog 365. It seems like a big commitment, but possible.


Brian D. said...

The fact you've paid off your credit card puts you so far ahead of people it's insane. Please continue to pay off any credit card every month and you'll be golden. Sadly I'm just starting to pay down the debt I've incurred the last three years.

Personal finance is actually quite simple: spend less than you make! Sounds like a cliche, but it's the simple truth. There's some easy ways to help people with that.

The easiest, most helpful, way is to have 10% of your paycheck automaticly put into your savings account. It encourages you to not spend the money since it isn't easily accessible and bulks up your savings account in case something happens.

As for retirement just do the same principle: automatic deductions into your 401K or PERF. At least put in as much as you get a match for. Another percent or two won't hurt either. An even better idea is to take a few percent of your pay and put it into a Roth IRA. Pay the income taxes now, but never pay them when you withdraw. You don't need to worry about how much you put into the Roth since compound interest over 25-30 years works in your favor.

It takes some discipline and maybe you don't get the European vacation for a bit, but you can do quite a bit with your salary if you just work the numbers a bit.

As for reading tips I just read magazines, blogs, and How To books at this point so I'm no help to ya!

janiejane said...

Hey Brian!
It took me 5 years to pay off the credit cards, and I definitely don't want to have to do that again! It's such a weight off my shoulders to be done with that.

I do contribute to my employer-matched retirement, but I want to start a Roth IRA once I build up my savings a bit (next few months).

Thanks for your tips as always! :-)

Jennifer Donnelly said...

Dear JanieJane,

So glad that The Winter Rose is first on your list to read! I saw the picture of your bookcase, so I know being first on your list is quite an honor. I hope you enjoy the book. Please let me know what you think!

With best wishes, Jennifer D.