So I’ve never really had a “budget.” I don’t go around spending my entire bank account, I have a mental idea of what is in my bank account, but I’ve never specifically allocated money to “a budget.”
In order to increase savings and decrease frivolous spending, I have decided to create a BUDGET (dun dun dun).
Because of my recent new purchase (A HOUSE) it is time I start saving as much as possible to prepare for my car taking a dump, anything in the house breaking, and managing my money in general. I am proud of myself!!
I recently set up a recurring transfer from my checking to my savings to begin my budgeting process (Step 1!). For me, if the money isn’t in my checking account, I won’t see it as free-to-go-shopping money.
Out of sight, out of mind.
I am going to try to use the envelope system because it comes highly recommended (by people I know, and internet sources). The envelope system consists of withdrawing cash, designating it to a specific “envelope” (such as “Gas” or “Entertainment”) and using that money as a budget for the month. This is the website I’ve bookmarked: Budget Website
I’m excited to start my budget! Up until now, all I’ve saved is 3 months worth of expenses if anything ever happened to my job. My aunt told me when I first started working that you should always try to save 3 months worth of rent/payments/etc. in case my job goes KAPUT. So I’ve done that, but saved the bare minimum I’ve needed. I shall now start saving more! WEEEE! I shall name you budget, and you shall be mine. You shall be my budget.
Oh, I also may start coupon clipping. No joke.