Wednesday, June 23, 2010

Random Personal Financial Thoughts

I've been MIA for most of the month on this blog due to a busy schedule, but personal financial concerns are still (let's be honest ALWAYS) on my mind:

  • I’m thinking about cancelling my gym membership because I use it so sporadically. I do enjoy the amenities of a gym, but I can find alternative ways to exercise for less money. For example, I recently discovered that there is a public swimming pool walking distance from where I live that is free for DC residents! That $45 per month could be padding my emergency fund instead of paying for my (infrequently used) gym membership.
  • I plan on making July a low-spend month by limiting my travel and extraneous spending. I’ll also try to limit my restaurant/take-out meals and take advantage of free events that are going on in the city instead.
  • I purchased one baby shower gift this month and have to purchase two more baby shower gifts within the next few days. Buying baby shower gifts a few times a year for close friends and family members comes with the territory of being a 20-something female, but they aren’t usually clustered so closely to the same time period for me. I need to replenish my gift fund for unexpected gift giving so I’m better prepared.
  • For me personally, picking up a new book for my Metro commute is just as fun as buying something new. The D.C. Public Library is such a great resource! As soon as I have free time, I'll pick up some French language software, since I’m still saving up for Rosetta Stone.
  • It’s time to start thinking about an aggressive repayment plan for my student loans since I will enter my last semester of grad school in the fall and my in-school loan deferment will end. I’m thinking of using an approximation of the ‘debt snow ball method’ and paying them off from smallest balance to largest balance.
  • My Roth IRA and 403 B accounts seem to be increasing so slowly. Meeting my goal of having as much money in my retirement accounts as I make on my (current) annual salary by age 30 seems kind of lofty at the moment. But I believe it’s still attainable.

What random personal financial thoughts do you have on your mind today?