Well, it’s a new semester… my second to last actually. It’s quite scary, but I know I can conquer it.
Today I wanted to talk a little about what I am trying to do in my personal life. Lately I’ve been trying to get my finances (what little I have) in order and have been trying to budget. I haven’t been really doing it long enough to see any impact, but I’m really just trying to prepare for after graduation when I really need to budget.
I’ll let you know how that goes. I hope I can give some advice on it if it works out! Right now I don’t have much advice, but I guess I can just let you know what I’m doing to start out?
- Excel worksheets
I basically started by just making a super simple (nothing like the picture above) excel sheet with my finances. I don’t know how to use it fully, so I just kind of did what I knew how to do. There I set a budget for how much I can spend on each category, and then use a formula to keep track of how much I actually spend.
So basically, this is probably a no-brainer for many of you. All I did was look at budgeting articles on Pinterest. There are about a billion and one of those things and it’ll probably give you an idea of what you should do. I would just say, stick to the simple ones. Don’t try and use something you don’t understand. You can probably even just make your own plan by combining aspects of different pieces of advice.
3. Half method
Okay, so I’m only putting this in here because I saw something on Pinterest and it really surprised me that a lot of people don’t already do this! I get paid bi-weekly and I ALWAYS ALWAYS ALWAYS put half of whatever type of payment (car, rent, etc.) aside as soon as I get paid each check. It makes it easier so that you don’t have a scrape by at the end of the month when you have to make payments! It also helps ensure that you’ll have that money and you don’t blow it on something else. I usually just get an automatic transfer every other Friday so I don’t even have to mess with it. Check with your bank to see if you can do that. Again, I was just really shocked because I just thought many people already used this method. I couldn’t even imagine myself paying my bills with one paycheck!
Like I said, I don’t have much advice now, but hopefully within the next few months I might, depending on how it all works out. Something I saw today was a plan where you don’t spend money on anything that isn’t life-or-death for an entire week. I want to try that out. I’ll report back.
Well, that’s really all I have for you this evening. I hope you all are having a blessed new year and that you’re successful in everything you’re doing!