Budget your Money

Day 1 & 2

I just want to get you started on a brief overview of many ways to start saving your money. This is what you should start doing the first 2 days.

1.      Budget your Money

a.      Of all 31 days, this is the most important! The only way to start saving money is to learn how to budget your money. This is going to be the most difficult thing ever for you, it sure was for me. You need to write down every single thing that you spend money on. This includes that cup of coffee that you bought before going into work.  Write down everything!

b.      I suggest that if you know how to use Microsoft Excel that you make a spreadsheet to help you organize your expenses. If you aren’t that experienced with excel just write down your expenses with a pencil and notebook. Just remember to write down every expense! Categorize everything, that way you can learn how much you spend on everything.

c.      You will be surprised how much money you spend on unnecessary items. I learned that I spend roughly around 15 dollars a week on soda and snacks. Fifteen dollars a week times 52 weeks equals $780. Think about that, $780 a year that I could’ve been saving or spending on something that is more important like the bills.

 

2.      Start Cooking at Home

a.      This is one of the easiest ways to start saving money. It doesn't matter if you are a college student, an adult, or a teenager you can start saving money by eating at home instead of spending a fortune for someone else to cook your food. Many people don't realize how much they spend eating out at fast food restaurants. Actually I was just like you, I always ate fast food.

b.     A friend of mine brought it to my attention how much I ate out. I decided to just keep all the receipts from the places I ate at for just one week. I was amazed when I added up the total of all those receipts. ($23.40) Thats how much I could've still had in my pocket!!!