Understanding My Finances
In this week's readings we have highlighted the importance of financial accountability. Both in
college and in our personal lives. The main idea of these readings was to understand where our
money goes and tips and tricks to help manage it. Another point of view that I gained this week
was how much I can be held accountable for failing a class. Something I have never considered
could very well become a reality.
Using Tips and Tricks
I consider myself to be financially responsible however, I did learn a few things from
“Making a Plan to Manage Personal Finances” (Scheibach, 2014). He lists ten ways to help save
money and a few of which are “Cooking at home, Develop a Household Budget, and Always
Compare Prices” (Scheibach, 2014). Cooking at home has always been something I have
struggled with, and my excuse had always been not having enough time to. Now that I have a
newborn child I have even less time, but it is more important to me now that I have another child
that I am responsible for. Moving forward I plan to be available to meal prep for the week.
Ensuring I do not go out to eat unnecessarily.
Growth
One area I need to focus on is prioritizing my spending. I am an avid outdoors person,
and this hobby takes me from mountain biking to fishing and hunting. All of which are expensive
hobbies to maintain and even more so to upgrade gear and equipment. Understanding that I do
not need the latest gadgets and tools is something I need to realize to help cut down on
unnecessary item purchases. I need to learn to be happy with what I have and not just
compulsively buy anything I do not need.
