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Any advice about financial planning?

Asked by Haleth (18947points) January 25th, 2015

I just got a hefty raise (all right!) After some thought, I’ve decided to take a wine class that starts in May. It’s a lot like the sommelier certification, but with a more educational focus. Graduates end up as wine educators and writers, that kind of thing.

Anyway, the first level of the class is $1400, which is a pretty significant chunk of change to someone like me. I’m used to thinking of that kind of money as WAY out of my reach. But now I can suddenly save up for it. In fact, it should be pretty easy.

My employer offered to help pay for classes once I found one. That’s awesome, but not the point of this question. Thinking about $1400 made me realize that I’m in a whole new financial ballpark. A lot of stuff that I’ve been wanting to do will be possible if I can manage my money properly. (My biggest wants are to pay off my car, get an education, move to a new city, and travel.)

I already do a lot of the stuff you’re supposed to, like packing leftovers for lunch, buying clothes on clearance, and never going out for coffee. Seriously, “stop going to starbucks” is like the most obvious piece of financial advice there is. I plan expenses for each coming month and divide up my paycheck for it. Bills and savings come first, spending money comes last.

Even so, on my old salary it was hard to ever get together more than a couple hundred dollars. Some emergency (usually car repairs) would always come along and wipe it out.

What’s a good strategy for managing your money in the long term?

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