I started Accounting class a few weeks ago and thought "Eh... I will get through this". I can read the book, memorize, and eliminate answers fairly well. We have a 10 question quiz each week and 3 Exams (open notes/book). I mean "Come on Mel... you got this"... So I was laying in bed on Friday night around 10:45 P.M. and it dawned on me "Agh... I have a quiz to do that is due by 11:59 P.M. that night". Procrastination Station, stop ONE - so I jet to the office, get my book and PPT slides out, read briefly through the quiz, and then just start laughing. I mean I understand NONE... NADA...ZILCH... I hunt and peck for 30 minutes on a 10 question quiz.... I did end up with a 9 out of 10, but I can't tell you what ONE of the questions actually meant. FYI... I guess fairly well;)
Now let's discuss how I feel in class on Monday nights from 5:30-9:30 while we are taught about debits, credits, margins, ROE, ROI, beginning balance, ending balance, investments, liabilities, expenses, etc... AGH... I sit there for 4 hours and dream about food. Big huge plates of crab legs with melted butter, German-chocolate cake, Papa Johns pizza, soft pretzels with cheese, Swedish Fish... and I nod here and there like "oh yeah... I totally get it". Not even close people...
I have never been the best with "numbers". When I was 18 I signed up for my first credit card. It had a limit of $500.00 on it. I spent about $212.00 at J Crew and then never paid my bills so it eventually reached $500.00. IDIOT!!! I then worked a whole summer in college to pay off that bill by the time I went back to school in the fall AND... that is where my ignorance with moolah lies...
Fast Forward to today. I NOW have a "spreadsheet" in my office (at home... this is AT HOME people) that I am TOLD to use. I put each debit on the spreadsheet... I forget sometimes... well OFTEN, but hey... I can make a mean meal with the money I just spent at the grocery store, or flip my "newly" done hair and bat my Lancome lashes... does it work? NEVER, I must still abide by the spreadsheet rule... LOL
Here is the deal...I make money. I like to spend it. I like to save it (some of it). I might not understand how a Balance Sheet or Cash Flow "whatever" works... but I can tell you what color each of my credit cards are WITHOUT looking, if you tell me the name of the store;)
Truth be told, I pay off my credit cards each month in full. I can't have any other debt hanging over my head beyond the mortgage and car payment (which I don't even have yet... waaaah) - I just wouldn't sleep at night (that is just me). Do I understand how it all works - not really. Am I going to pass this class - your DAM* right. I am going to come out of this class the BEST guesser on the planet - you might even want to hire me, that's an asset, right?
Have a spreadsheet? Accounting smarts? What color is your Nordstrom's card;)?