So, I figured I would catch up with my current financial situation before making some big decisions.
Current State of the Union:
- I have a checking account through Regions. I love the customer service - they have been extremely helpful in the past.
- I have a saving account through ING Direct. Why this is balla: Because it’s online, there aren’t any overhead fees such as having to pay tellers or operating costs such as electricity, rent, etc. So, that means I get 10% interest compared to the 1% interest I would get at Regions.
What needs to be done:
- check out my credit. Credit still baffles me…do I even have any?? So many questions
- Get a credit card. Honest moment: Credit cards scare me. And confuse me. But, I’m taking the plunge. I’ve been investigating and trying to figure out which would be the best for me.
- Open up a Roth IRA. A retirement fund that only uses after-tax dollars. Why this is balla: as opposed to a 401(k), which uses pre-tax dollars, all the money in the account is mine, so the government has already taken its share when I’m ready to withdraw!
That’s all that I’ve come up with…for now. I’m sure I’ll encounter more adventures.
Now off to bankrate.com to compare credit cards!
I’m Carrie, a junior at Samford University majoring in Musical Theatre. I’ve started this blog to chronicle my journey to financial independence and financial literacy because money is hard. Being in college is hard. And I’m going to need some help if I’m going to tackle both in the next two years.
I pretty much know next to nothing about money, so I bought two books on personal finance: I Will Teach You To Be Rich by Ramit Sethi and The Money Book for the Young, Fabulous & Broke by Suze Orman. Am I embarrassed to be seen around town reading books with these titles? Yes. Have I already doubled what little knowledge I had? Yes.
Let the adventuring begin!