A little question and answer session based on the inquiries of one of my readers:
How did you get your name and what made you start blogging?
One Frugal Girl actually came into creation at a very stressful time in my life. Five years ago I started a blog while recovering from surgery. One afternoon I received a comment from a fellow blogger who wrote about personal finance. I read that blog from start to finish and fell in love with the idea of blogging about money. Since I felt lonely and isolated by my medical issues I decided to include the word ‘One’ in the title. (After all, ‘one’ is the loneliest number.) Since my frugal ways lead to my financial success I called the blog One Frugal Girl.
Why did you start blogging about personal finance?
Fortunately, I started life on the right financial path. My husband and I have never been in debt, in part because our parents helped pay for our college educations, but also because we’ve made very smart decisions with our money. After graduating I lived like a pauper to save money. Staying out of debt enabled my husband and I to buy our first home at age 24 and our second at age 28. Originally One Frugal Girl focused on the sound financial decisions that helped grow our net worth, but overtime it simply became a journal about my day-to-day relationship with money and life.
What is the best financial decision you’ve ever made?
Living in a group house after college. If there is one time in your life when you can live with a bunch of messy, sloppy, deranged people, it is right after graduation. I lived with a roommate three out of four years in college, so when I graduated I was just happy to have my own room. After graduation I lived in a 9×9 room in the back of a group house for just over $300 a month. Of course, I lived with four other roommates who were loud and messy, but utilities split five ways meant I paid next to nothing. Saving money on rent enabled me to purchase and pay off my first car and just over one year later the lack of car payments enabled me to buy my first home.
What do you dislike about personal finance?
Trying to keep close track of discretionary expenses. Quite frankly I suck at it. I’ve tried everything, but somehow or another I constantly find myself losing track of purchases.
Where do you see yourself in the future?
I hope to start a family and possibly cut back on work to part time. In ten to fifteen years I plan to have both houses paid off in full, by then I’ll be 40 or so and perhaps looking for a new career.
I could only hope to have lived so responsibly at your age. I relate to your not tracking of discretionary expenses. I know that it leads to spending less but I still have trouble with it. One of the best decisions I've made financially is keeping an emergency medical fund for when the insurance doesn't cover everything. It has helped a lot.
College can be expensive, and finding the money to pay for it isn’t always easy. Loans are a common method to pay for schooling, but loans must be repaid, and with interest, the cost of a college education grows.
Figuring out how you are going to afford the high costs of higher education can be an intimidating prospect for anyone. However, you should not be dissuaded from furthering your education because you think you will not be able to afford the expense. Instead, spend some time researching all of the financial aid or college grants you may qualify for; some of which may include federal school grants.