Thrifty Thursday: Budget 101

Alrighty fellow college peeps, the beginning of the year, time to start fresh-including with your budget. I found this nifty little step by step how to on Pinterest. The link is below, and here is a summed up version of it.

http://brokenmeadows.hubpages.com/hub/How-to-Plan-A-Budget-and-Stick-To-It-Practical-Budget-Advice-For-Beginners

Set Goals
-Why are you budgeting? How much do you want to save, spend, etc.?

Evaluate Current Financial Status
-How much are you making? Do you have debt? What bills, loans, etc. do you have to pay?
-What is your current income?
-Calculate current income.
-Calculate monthly expenses.
-Find what your disposable income is.
*Helpful to make an Excel spreadsheet to figure out all of these number and keep track of what you are spending.*

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Budget!
-Plan ahead how much you’ll need to spend not on regular monthly expenses, but on things like food, paying off student loans, childcare if you need it, etc.

Stick to Your Plan
-Set up different bank accounts
-Set up direct payoff of your bills from your account if possible (leaves no room for your phone being cut off or being evicted)
-Ditch the credit cards
-Don’t buy things unless you have the money to pay for it right then

Good luck!! Keep it up, yall got this!

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