The time has come, I have my first full time job and keep buying stuff that are nice... but I don't really need. Or at least I am buying them too often.
I have so much Ikea furniture on my wish list and no money left in the bank for food!? How did this happen?
Step One: Make Time to Make the Budget
So you probably work full time and things are different than they were in college. It's really hard to get use to and you feel like you only have a few hours of free time per week. Well, theres no day like today. If you have time now, do it now. If not, do it tomorrow.
Step Two: Figure out How Much You Make
The only way to really do this is to look at your pay stub, if you don't know how. Ask someone. Don't forget there are tax cuts because... well I don't really know why. Money gets taken away from you when you get paid and money gets taken away from you when you spend money... it bothers me a little.
Step Three: Prioritize
First, write down how much you pay rent (or how much you want to pay rent if you are trying to move out). Then write down how much you spend on food. Everyone is different so I can't help you too much on that one.
Step Four: Saving
Want a new laptop? Hoe for a house one day? Either way, make some savings because you never know when an emergency can happen.
Aim for 30 percent of each pay check to be put into savings.
Step Five: Free Spend?
Is there anything left? How much can you free spend? This is for stuff like coffees, lunch dates and drinks at the bar.
Step Six: Write It All Down and Save It Somewhere
Write it by hand or make a word document. Just make sure you have it somewhere.
Step Seven: Ask for Your Receipts
Remember when the cashier says "Do you want the receipt?" Well you say yes now. Get it, read it, make sure there were no unexpected fees fo something cost more that you thought it did. Then bring it home and keep it somewhere.
By this step, you did it! You made your first budget plan and now it's time to celebrate... but only celebrate within your budget... if it's a tight budget just do a little dance or something. Totally free!
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