A Quest For Financial Literacy

Since we last spoke, I have decided to wholeheartedly commit to becoming financially literate. As it stands, I still don’t make much money at all, and a lot of it goes toward paying student loans. I’m on track to paying off one of my loans in 5 years, so that means a large portion is taken out each month. On top of that, I have to pay my credit card, my phone, and then live. So, I’m trying to live tighter now so that I can be freer in the future. I guess that’s what real adults do, right?

My first step was dipping my toe into the world of investing. Stocks, bonds, you know, legal gambling! Like a true millennial, I downloaded the Acorns app, the one that takes the purchases you make on your debit or credit card, round them up and use the change to invest in penny stocks. So far, I’ve lost 1 cent so I’m not sure if this bodes well for my investing future.

Then, I took the advice that my mom has been begging me to take for years: I opened an IRA. I used Betterment. Got one of those Roth jawns, and now I’m going to start making monthly payments into the retirement fund as well as a rainy day fund.

All of this can hopefully be supplemented with my undertaking of a second job. I’m trying to work on the weekends to make some extra money so that I don’t have to be broke my whole life. I want to make enough to save, and based on what I make currently, I just can’t really do that. On top of student loans and bills, I am technically a freelancer, which means I have to pay quarterly taxes, so anything I put away pretty much goes to that. Then, I have to be a regular 20-something and meet friends, eat, drink, maybe even be merry.

Anyway, life is expensive, and no one really tells you that. Or I guess they do, but you don’t really know how bad it is until you get here. So, anyone else here looking to take up a second job just so you can have a savings account or is it just me?

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