Sunday, March 21, 2010

Finance, My Friend

Okay with April coming up soon I want to begin my adventures in capitalism and saving. In revisiting my journal from the beginning of the year I planned to invest at least of percentage of my savings into something useful. Of course through a combination of being busy, excuses and frankly not knowing much I'm only now starting my finance quest.

Here are the questions I'm going to get answered: 
1) How much do I need to live each month?
2) How much is needed for an emergency fund? (6 months? 1 year?)
3) What is an acceptable amount of money for me to transfer now from checking to some type of savings or investing?
4) What percent of money should be in savings, checking, and stocks? In other words, what should be my financial makeup?

A few reference sources I will be using among others:
The Idiots Guide to Personal Finance in Your 20s and 30s

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