After taking out 96% of my money to buy the house, I was left with very little cash flow. I didn’t plan to spend so much money right away but plans changed. I kept getting outbid so I needed to overbid to secure my house. That meant spending the funds I had saved for decorating and renos.
The first few months after buying the house were tight. After semi-strict budgeting for about 4 months, I am finally ready to start saving again. This time around, I know a bit more about finances and plan to save strategically. I am taking Google Finance seriously, making an effort to learn more finance terminology and will actually pay attention to my accounts.
Tonight, I am going to a workshop about personal finances so I hope to learn something new.
When I started saving and investing at 18 years old, I had no clue what I was doing. I understood compound interest but that was it. Somehow though, I still had enough money to buy the house this year. I am pretty sure that’s because the Mutual Funds I chose were low risk.
At 25, post-house purchase I feel like I still know nothing. However, I am finally ready to pay attention and learn. If investing worked for me with zero knowledge, imagine what I could do if I invested time and energy into learning how to properly invest.
More on this to come!