Mo’ Money, Less Problems?
Budgeting. The least fun part of being an adult.
Why save money and prioritize when you can spend every dollar you have??? It’s much more fun that way. Buying everything in the grocery store, absolutely yes. Cookout? Always.
…Until your utility bills are due and you have 32 cents in your bank account. Am I speaking from experience? You would hope not, but I am. It was at that point that I was the classic ‘pockets inside out’ stock photo.
It’s a life changing moment when you realize the next many years will be affected by your inability to save money in that moment. I’m talking about your credit score people, that is what keeps you accountable with your bills.
When you don’t pay your bills on time, your credit score will go down, which will affect your ability to buy a house, get a loan, or buy a car.
You probably won’t feel the effects immediately, but when you get a job in a new city and your applications for apartments are continuously denied, you’ll hate yourself for your past spending habits.
Be proactive now, start managing your budget and if you don’t have one, make a monthly budget.
Plan for all of your expenses for the week, whether that be groceries, gas or fast food. Categories help you recognize where you are spending and what is crucial and what is frivolous.
Give yourself some structure by planning everything out, either on your computer, or write it in a journal. I plan my monthly budget on my whiteboard, and because it’s always visible, it keeps me on track. You’ll have to find what works for you to keep you on the straight and narrow.
Some weeks you’ll find that you have $15 in your bank account and you won’t be acquiring any more for a while. Make the most of that by eating food you already have at home, and if you need to go grocery shopping. One of the cheapest meals you can make is pasta with red sauce. Two ingredients, one dollar each.
The best way to alleviate stress with your budget? Get a part-time job. It will give you something to do, teach you structure, you’ll get job experience and references for your resume, possibly make friends and the best part, make money. The more money you have, the more options you have for both spending and saving.
Saving sucks, but you’ll appreciate it down the road. Think about your future from time to time. For me, I’ll have student loans that I save for now. Maybe you’re looking forward to moving to a new city, or going back to school, or buying a home. You’ll need the money and be thankful that you don’t have to take a loan (or a huge one).
Keep on keepin’ on, and keep on saving.
I am not a product of my circumstances. I am a product of my decisions. -Steven Covey
