Posted by: Faz
Recently out of college, working for a financial institution, living on my own and paying my rent/bills makes me what? Responsible? Financially independent? Hardly. Not in my case.
Currently, money management is something I struggle with and not keeping track of my balances has become a bit of a problem. I’m sure many of you out there can relate. Entering the ‘real world’, is not supposed to be easy and I’m finding it out the hard way.
Making mistakes is how we learn. Right? Maybe. Some of us make the same mistakes over and over again and learn nothing from the consequences (cough cough). Eventually when the cost is high enough, a lesson is learned and we try and make some changes for the better.
So far I have spent more than I have in my checking account, gone over my credit limit, failed to pay my bills on time and have been living off of Ramen noodles for quiet some time. Calling my parents every time my balance is low or non-existent is starting to get old. I’m learning that not only do I have to play the part of being an independent person; I have to act it as well.
Therefore, I decided to get a hold on myself and do something about my irresponsible spending and learn to budget my money. Key concept: spend less than what you make. Easy enough. Let’s give this a try, shall we?
I’ll keep you updated on how my wallet is doing in the near future. Stay tuned.
The following two websites have many helpful tips on money management and budgeting which can get you on the right track. Check ‘em out!
Good advice! Don’t waste your money and start putting money on a savings account. Also make food at home.
hey thanks for the comment Kurt!