Being on a budget is no fun and this is coming from someone who was already frugal to begin with. Being a young adult I’ve been trying to be responsible and stay on the right path to make sure my finances stay straight. Although I have student loans, rent, car note, and credit cards I‘ve been able to keep it all straight.
In January when I turned 26 I got kicked off my parent’s health insurance and had to get my own insurance through my employer. A couple of months after that I had to sign up for a 401k which is mandatory through my employer. After seeing these cost affect my check I decided it was time to get on a budget and keep track of my expenses.
To start my budget plan off I marked envelopes for each month and placed my receipts in the corresponding envelope for that month. At the end of each month I gather all my receipts and sort them by categories ex. Gas, food, and personal. Once I have them sorted I place all my totals in an excel spreadsheet I found online. After recording my expenses for a couple of months I was able to determine where most of my money was going and where it didn’t need to go. I found that most of money went to gas, credit cards, and eating out.
To help cut my expenses I decided to cut some things out of my budget which included:
- Fast Food – Buying groceries and preparing meals that can last a couple of days I found to be sufficient then eating out all the time for lunch.
- Eyebrow Waxing & Nails – My eyebrows I can do myself I think I just liked the whole pampering aspect of it and for my nails I can do a manicure myself.
- Cable – I’m never home so no point in having it, Hulu and Netflix for $7.99 is getting me by.
I’m not going to lie out of all them I really miss getting my eyebrows done they looked really good. But now I’m saving money by not having them done every month.
Unfortunately I think the next thing to go is my gym membership it’s still in debate.
Are you on a budget? What did you have to cut?