In my March Challenge post I talked about one of my bad habits of
spending too much money. To help me with that I created a budget that so far has been REALLY working out for me!
Please take in consideration that this budget is more for college students, being that right now I don't really pay bills so I didn't factor them into my budget. My advice for people that do pay their own bills is to subtract your bill amounts from your total monthly (weekly or biweekly) income then apply my budget tips to your remaining money.
I get gas and groceries weekly, so my budget is a WEEKLY budget.
- Determine a time span for your budget based on how often you get gas, go grocery shopping, or pay bills.
- It's easier to determine the dollar amounts for each expense then turn it into a percent to use in every situation using the equation: Bill Amount/Income = %/100 (ugh algebra lol)
- Start with set expenses then work your way down to fluctuating expenses.
- ALWAYS budget in emergency/backup money.. you just never know what might pop up.
I really hope my tips help anyone that is trying to live on a budget or just save money. Let me know how you budget your money and little tips that work for you!