With the economy in recessionary trend personal finance is on the minds of a great many people now a days. Personally I haven’t adjusted my lifestyle because of the economy just yet but I am keeping an eye on it to ensure that I have as many warning signals if anything does get worse. For me I have rekindled an interest in personal finance for another reason; for me its a combination of having a baby, getting out of my financial cesspool, making a bit more money, and I’ve started reading PF books again.
I might not be directly impacted by the sagging economy but that does not mean this will remain the case for long. As I read more and keep an eye on my budget I will start making adjustments to compensate for our economy. Budgeting will be a very critical part of this and I am yet again surprised just how much money I spend and where it actually goes. With financial goals in place not meeting them can be traced back to my spending very quickly.
For me personally when I am interested in a subject I start with the concepts and start drilling down into the areas that are of interest to me. As I drill into those areas I gain more knowledge and a deeper understanding. Over the past couple years I have been very focused on my tight financial situation but I recently started reading a PF book (that I’ll review soon) that reintroduced the idea of investing. Investing was not a subject I could really do anything about hence it fell off my list of interests. Unfortunately this is one of the areas of Personal Finances that captivated me in the first place.
This doesn’t mean I’ll be writing about investing from here on in, my financial situation is not ready for something like that so I will still be focusing on the more immediate needs. Its nice to take that step back and realize why a topic was interesting to you in the first place and to not loose sight of your goals. Having specific goals and needs is definitely important but for as much as the details will paint an accurate picture of your financial landscape you can also get lost in them which is what I think happened for me.
Watch for more posts – when the baby lets me have some spare time.
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