Personal Finance is such an applicable subject. I really enjoyed the savings account exercise - it was really helpful. Of course, without doing the research, how will we know which bank and savings account works for us? I looked up US banks, because when I go to the US for college it will be most useful. The banks I researched were Bank of America (BofA), Wells Fargo, and Chase.
When I visit the US after Interim, I'm planning to head to BofA to set up my savings account. I chose BofA because it is the most convenient, and also because it has the most attractive benefits. I only need an initial amount of $25 to create my account, and I have saved more than that through budgeting. Speaking of, budgeting is really helping. I set a very lofty goal for myself by cutting my spending by half. I spent $300 in the month of January, and so am trying to spend only $150 in February.
(This is also because my dad only gave me $150. He wanted to see how long I'd last.)
It's not easy. I spent almost a $100 this week alone. It seems like I'm spending on average $80 a week, which multiplied by 4 weeks gives $320. There are some things that I can definitely cut back on (taxis, etc.) but also some things that I need to continue spending money on. Taxis are the biggest sink of money, I'm finding out. I've taken 2 cabs in the past week and the cab total has already become over $40.
In the event that I can't reach my goal of $150 a month, I'll set my goal back a little bit - maybe to $250. Keeping my fingers crossed, though! Hopefully I can become thriftier as time goes on.
When I visit the US after Interim, I'm planning to head to BofA to set up my savings account. I chose BofA because it is the most convenient, and also because it has the most attractive benefits. I only need an initial amount of $25 to create my account, and I have saved more than that through budgeting. Speaking of, budgeting is really helping. I set a very lofty goal for myself by cutting my spending by half. I spent $300 in the month of January, and so am trying to spend only $150 in February.
(This is also because my dad only gave me $150. He wanted to see how long I'd last.)
It's not easy. I spent almost a $100 this week alone. It seems like I'm spending on average $80 a week, which multiplied by 4 weeks gives $320. There are some things that I can definitely cut back on (taxis, etc.) but also some things that I need to continue spending money on. Taxis are the biggest sink of money, I'm finding out. I've taken 2 cabs in the past week and the cab total has already become over $40.
In the event that I can't reach my goal of $150 a month, I'll set my goal back a little bit - maybe to $250. Keeping my fingers crossed, though! Hopefully I can become thriftier as time goes on.
No comments:
Post a Comment