Valuable Personal Finance Lessons Learned Over the Years
I’ve been thinking about the various lessons I’ve learned over the years and its funny how being in a bad situation will teach you to do better because you now know better. As they say hindsight is 20/20, I just wish I saw most of this coming. But the beauty is that I have a second chance to make it all right, and you’ll hopefully learn from my mistakes and shortcomings.
New Job. New City: Research salary and cost of living before packing up to move
When I moved to DC after graduation I wish that I’d researched the cost of living further instead of being so quick to get out on my own. The salary I accepted at my first job was piss poor. This resulted in being behind on some of my bills while working like a horse at the new job to prove myself. But this is one of those things that I guess had to happen. I met the love of my life at this job so I guess I lucked out ehh? 
State v. Private College.
I go back and forth about this a lot. sometimes I wish that I’d researched how much a private college education was going to really cost me. I mean looking at my student loans balance now makes me wish that I’d had more help in really deciding which school was better for me based on cost and not just how beautiful the campus is, how far away from home and how nice the dorms were. *sigh* But I wouldn’t trade the experience and the people I met for anything.
Friends and Money
Always set clear boundaries and guidelines for expectations so all parties involved know what’s what. I am in a situation right now where my friendship might be clouding my judgment and looking back I wish I’d made things a bit more clear. But I should have followed my own advice and known that things wouldn’t be different just based on friendship alone.
Do What You Love BUT Make Sure It can Pay the Bills
I think about this everyday. While I love the field I got into, I wish it paid more. In college I wasn’t about money as I am right now and with these student loans breathing down my neck, I wish that I’d stuck with Computer Science in college or Digital Art and Illustration. I was accepted into a top art school in NYC and didnt go because I wanted to follow the safe route. This is what may be propelling me to back to graduate school for a degree in computer science. Show me the money!
Buy Low Sell High: Strike While The Iron is Hot!
To this day I am kicking myself for not buying that condo in College Park when it was only 99k. It is now valued at 275k. Kicking myself! I didnt believe that the meager salary I brought in would support the mortgage payments even though I was approved. I was so scared and didnt know one thing about real estate investing. Looking back I missed out on the boom but hope to correct that long term with our current home.
Take heed and learn from my mistakes and shortcomings. Hopefully you’ll make better decisions and get a jump start on your finances before I did. I am now 27 and while we are in a good place financially, I wish I would have taken action much earlier in the game.
About the Author: Girls Just Wanna Have Funds is for the woman that wants to take charge of her personal finances. We value budgeting, investing, frugality and remain mindful of our spending habits. Move over and make way for women who are in control of their financial destinies and not afraid to say it. We're armed with a positive net worth and not afraid to flaunt it while breaking financial ceilings one stiletto at a time!
