jypfpaper2 - the “What am I actually buying?” category...

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Kimbra Ussery 9/1/2011 Jumpstart Your Personal Finances In his presentation, Pete Bielagus told us to use lists to figure out what all of our money is really going to. The three topics he gave us were: What do I want? What do I not want? and What am I actually buying? Creating these lists will help you see where your money is going and also help you to see what categories you need to improve in. For me, things that fall under the “What do I want?” category are finishing college, getting a good job, having a family, owning a car, and owning a house. These are the things most important to me now and in the future. However, under the “What do I not want?” category there are an infinite number of possibilities. These would be things you do not necessarily care about or have to have. For this list, the things I would name would be stuff like brand name toilet paper, tissue paper, paper towels, laundry detergent, etc. The generic brand works just fine for me. The one everyone needs to work on is
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Unformatted text preview: the “What am I actually buying?” category because usually the things that fall under this list can also fall under our “What do I not want?” list. Under this category, I would have to list stuff like new clothes, junk food, restaurants, etc. Your college years are definitely the best time for anyone to learn how to manage their own finances. This is the first time most of us have lived on our own and had to make our own decisions without being monitored. We do not have our parents here to make sure we are spending our money on the appropriate things. If you get trapped in debt during your college years, it can follow you through and even ruin the rest of your life. As soon as you can learn how to distinguish between the things you need to buy and the things you want to buy, you will be a lot better off....
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This note was uploaded on 04/03/2012 for the course FYE 1200 taught by Professor Sipe during the Fall '11 term at Georgia Southern University .

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