Why Finance?

I decided that I would dive into the world of finance for my first post, considering that it is the main focus of my blog. Four years ago, I would not have thought that I would be a numbers girl who thrived in pantsuits, listened to financial podcasts, or was intrigued by the stock markets. I always thought I would be some type of lawyer or maybe even a doctor. I am really good at debating, but chemistry is NOT my thing. It wasn’t until I took a personality test during my junior year of high-school that a business degree was even an option. I sat down with my college counselor, and she went over my results. Dermatology was on there, but she really focused on the business results. She talked about how my personality traits, ESTJ, were prime business traits and to consider looking at that field. I began talking to my parents and trusted adults about the possibility of pursuing business, and I eventually came to the conclusion that I wanted that to be my career. That’s all I knew, though. I thought business was business and that was the end of it. I didn’t realize that there were so many opportunities in the business field and that you can literally take the degree in any direction you want it to go. At the end of my senior year, I declared myself a very vague “business” major. Here are some tips that helped me decide my path. 

Make an appointment with your career counselor:
I know that sounds cliché, but it’s true. Having that appointment made me realize that marketing was not the best path for me and that I needed to explore other options. My counselor saw that I had a niche for finance and convinced me to take an intro to finance class.


Take an introduction class first to get your feet wet:
I enrolled in the intro class with hopes of it being a nice GPA booster. Ironically, I got a B. Laugh at me all you want, especially if you have taken the class, but it led me to where I am now. I was reading about 401K plans and compounding interest on the first day of class, and I became hooked on finance.

Read up on your interest as much as you can:
I did this by striking a finance based conversation with as many people as I could... my dad, my classmates, the people I worked with, my neighbors, and really anyone that would talk finance with me. I also joined my school's finance society and attended as many guest speakers as I could. Doing this made me realize that there were so many options- corporate finance, commercial banking, investment banking, private equity, insurance- the list goes on and on.

Do your research and don’t be afraid to ask questions:
This was a key for me because I was so new to the concept of finance. I started listening in on the news and got a subscription to the Wall Street Journal. This slowly gave me exposure to topics I hadn’t heard before which led me to research and start asking questions. Whether I was googling them, asking fellow classmates, or pestering my dad and his friends, I was getting answers. You have to continue to educate yourself. The finance world doesn’t begin and end in the classroom. It’s changing every day.

Don’t be afraid to fail or have people question you:
This is the most important to me. There is nothing easy about finance, especially when you are forced to take Intermediate Accounting II (and accounting isn’t your forte). Anyone who had those classes with me knew that I struggled. They probably even questioned why I chose finance as a major. I didn’t care. I found my passion for finance and was still going to pursue it. I struggle in some accounting classes and have to work harder… so what? Nothing really comes easy in life so might as well develop the work ethic while you’re young!

I have honestly just started my finance career, and I am eager to see what all I am going to learn throughout these next years. I hope this helps!

Best,
Caroline

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Cost of Eating Out

Growing up I was lucky to have parents that always cooked. My family rarely ate fast food or went out to eat at restaurants because, most of the time, we could make something better at home. Sadly, when I went to college, I lost that privilege. My Sunday night steak and potatoes dinner turned into some type of dining hall (blah) food. I started to develop a love for eating out. I took interest in the artistry of how menus were put together, flavors were paired, and the cooking craft in general. Maybe that interest came from my parents’ love for cooking, or maybe it came from me working in an Italian restaurant. Naturally, I sampled all of that delicious food at one point or another (thanks Osteria Mattone). Anyways, eating out is now one of my favorite “hobbies,” and I appreciate a nice meal.

I moved to Columbia, South Carolina this summer, and I quickly realized that the amount I ate out would have to decrease. Who wants to eat every meal alone? And I am paying for everything on my own now… no thank you. I decided to do a cost analysis of how much I spent eating out. My little “hobby” cost me practically a new Louis Vuitton handbag- one that I have just so happened to have my eye on for a while. I averaged the amount of money I spent eating out (fast food, nice restaurants, and trendy smoothie places were all included). $75 a week. That may not sound too bad, especially because I make more than that with one day of work. However, if I was to spend $25 less a week on eating out, that would save me an average of $100 a month. That still may not seem like much to you, but multiply that by twelve months and you get $1,200 a year. Now let’s throw in that compounding interest that I love (yay!), and you save a whopping $1,200 a year. Invest that every year for 10 years at 7%, and you have just saved $19,820. All from eating a couple extra meals a week at home instead of out!

I know some of y’all are scoffing because you would never invest your own money.. That number may not matter to you, but we will address the fear of investing in another article. Keep that money in a savings account or a jar, even! Watch how it accumulates, and all of the sudden you are $1,200 richer than your friends. I also understand you have to eat. Lots of people think that it is cheaper to eat out than buy groceries, but I am going to squash that theory another day. I have to go make dinner and online shop with all the money I am saving… Oh wait, I meant to say invest it! 



Best,

Caroline

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Hey Y'all!

My name is Caroline Corley, and I am a rising junior at the University of Kentucky- Go Cats! I was born and raised in Atlanta, Georgia and enjoy city life and new experiences. I have a very bubbly and outgoing personality, and I can literally talk to a brick wall. When I was a little girl (jabbering away, of course), my teachers named me the "mouth of the south." The definition of that phrase is "a nickname for a person residing in the south that speaks very fast and frequently." If you know me... you know that describes me perfectly. 

I have a passion for finance and have always considered myself a working woman. From babysitting to odd jobs, serving to internships, I am always doing something. I decided to create this blog to talk about my experiences as a young professional as well as give advice to anyone who may share a common thread with me. It has already been a crazy and challenging road, and I know that I am not alone. I love to bounce ideas off of others and give advice, so I am very excited to take this next step and blog with y’all. Don’t be surprised if you see personal posts too! I love going out with friends, living a healthy lifestyle, and traveling, so I plan on adding a touch of those stories as well. 

Enjoy!

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