Keeping a budget is simple: don't spend more than you make. But, we all know that can be difficult. We are constantly told to spend, whether it's bills, food, or just trying to have fun, it can be hard to stick with it. Here are a few tips to help you plan and prepare a budget for yourself.
1. Write down your expenses. For two weeks, keep track of all of your expenses. From food, to transportation, to that little piece of candy. While a month is more accurate, this will give you a glimpse to where your money goes. Every penny spent counts.
2. Write out your sources of income. How do you make money? Do your parents send you money each month? How much do you make from your job for the month? Or what hustles do you come up on? Whatever it is, write it down.
3. Write out your monthly expenses. This includes bills such as rent, utilities, phone, food, transportation, etc. Comparing this to the first list of spending, you can see what can be sacrificed per month. Do you really need that piece of candy?
4. Now you want to see how you can save. Try carpooling to save on gas, buy in bulk to save on food, search student programs to help you with rent. Now you have a better look at how your money works for the month.
5. Prioritize and organize. Bills come on the same date each month. Mark your calendars and set reminders. Setting up an autopay option will save you a lot of hassle as well.
These are a few tricks to help you with your monthly budget. It's important to prioritize and pay your bills on time. This may mean going without or stretching your penny a bit. Instead of worrying about how much money you have, look at the things you have such as your home because you paid your rent on time, or your phone because you paid your bill. Tell me how it goes, email me at shanika.simmons90@gmail.com with any questions or comments!
