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comment by steve
steve  ·  394 days ago  ·  link  ·    ·  parent  ·  post: Pubski: April 25, 2018

budgets are a must in my book. The beauty is - if you always keep your budget (within reason) aligned to your PREVIOUS paycheck amounts, you're in the black. Obviously as life changes, you need to adjust it up (marriage, kids, housing, car, etc) but seriously - being mindful about where you spend your money is a key to financial success. I'm excited for your budget. It will serve you well.

blackbootz  ·  394 days ago  ·  link  ·  

I have tracked nearly every expense since July 2014, and written out a budget for about 6-month periods since around the same time. (Keeping within that budget is another beast--I always seem to underestimate my spending by about 10-20%...) The reason for the short budgetary periods is that between traveling, service work, and atypical job lengths, I didn't have anything even approaching a regular schedule of income and expenses. That's changed somewhat, and the situation promises to be much more regular if I take a corporate job after I graduate.

But yea, knowing what you spend your money on is a huge first step that a lot of people don't even take. I know people who brag about never looking at their checking account.