MONEY, DEBT, FEES, PAST DUE!

Some may cringe to hear the words MONEY, DEBT, FEES, PAST DUE! I know I do. I know I have a HUGE shopping addiction. Not only is it fun but it is a Happy Time and cheers me up when I feel sad.

However through out my 20’s I have learned the hard way about budgeting and money. I never really had someone to say this is how you should and this is what you shouldn’t do. So now that I learned how to manage my finances I feel a sigh of relief FINALLY! I am saving money, paying bills on time and maintaining a healthy spending habit! This is what I did and hopefully you will benefit from this!

1. I wrote down all of my monthly bills, debts, and income.
   
2. I categorized my spending over three months in to three categories: Food, Gas, Clothes, Health, Entertainment, and Misc.
   
3. I looked at where I was spending my money on what.
   

Sometimes writing things out gives you a different perspective on things. I knew I had to be more aware of my spending and cut back. I would ask myself do I really need that $10 lip gloss or would an off brand or $3 lip gloss do just as well? I figured I would probably lose it any way so $3 lip gloss it is. Once I analyzed what I was spending on what I was able to cut my spending by almost 50%! When shopping for personal products that weren’t necessities I would reassess my finds and ask my self Why do I need this and How is it imperative I have this product?

Also, I made a budget on an excel spread sheet. I took all my categories I spend on and bills and made a plan. I would take out my spending cash and once it was gone it was gone! I did not allow myself to over spend. This is just an example however you can really build this to your spending style and bills. I loved this because I knew each time I got paid where my money was going, how much I had and what I had to pay. This worked for me but being content with your finances means being disciplined and positive!!

Good Luck!!