Tuesday, September 22, 2015

Staying on a Budget as a College Student

Being a college student is hard. You have late nights of studying, early mornings and then there is your budget. If you're anything like me you may overspend a little okay maybe a lot. A month ago I decided to change that. I didn't like living on little money till I got paid again.{Here is a post on my DIY Tab Dividers}

Weekly Glance
Every week when I get paid I sit down and look over my budget. First, I calculate how much total I have and pay my bills.

Monthly Budget
Here I decide how much will go in each category, such as entertainment, household/personal, transportation and etc. For example, $25 in entertainment, $50 in household/personal, and $40 in transportation.

Whenever I pay for something I immediately write it down in my checkbook register. When I see the money going away it helps me not spend as much. When I'm out and about I will put my receipts in my envelope and write it down later when I get home.

 No Guessing-
I've done this a lot in the past I would see something I loved and guess I had enough only to find out later I wouldn't have enough to cover other necessities. Look in your register and double check to make sure you do have the money for the item(s).

No Overspending-
Don't go over your budget and don't spend more than you brought in. If you have a credit card don't go over how much you can pay. Same goes for your budget don't go over if you don't have enough save up for it!

Say No-
Sometimes you got to say no to things. Even when you really want it. You'll be happy you did in the long run

Every pay check I put at least 10% in my savings. It really helps out especially if something comes up.

Cash Envelope System-
I have done this before I really love it. It's the best way to see your money leaving your hand and when the envelope is empty you're done till the next payday. If you don't like getting a lot of cash out of the bank or don't have time you can just write down in your register.

 Treat Yourself-
After budgeting and tracking yourself all week treat yourself to something you have been eyeing!
(As long as you can afford it!)

What are some ways you keep up with your budget? I hope you have a great Tuesday!
Lettie Lane

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