Saturday, May 19, 2018

budgeting can be really tough, but also really good. honestly, it can be made easier

personally, I don't have a budget per-say. instead, I have a SAVINGS GOAL for my year -- basically I set a goal for what I want to have by the end of the year, and slowly save to be able to have that amount in the bank when the year is over! here's why and how i do it:

    • its something to work for -- MOTIVATION PEOPLE
    • its good for if you are saving for a big thing, or even just want to have an emergency pile put away
    • bc we can all relate to this:
    • if you are able to work and put money away while you are younger it can make a huge difference for you later (such as being able to purchase a car, college, etc.) starting out debt-free, or without too much debt is the way to go if you can!
    • its also a super good habit to get into. if you are ABLE to save, do it

1) figure out how much you want to have in the bank by the end of the year (look at how much you make every month and figure out how much you really could put aside. challenge yourself, but be realistic)
2) divide that amount by 12 (this is how much you need to have saved monthly. write that down.)
3) divide that number 4.5 (for the average number of weeks in the year. this number will be how much you need to put aside weekly)
4) now you know how much you need to set aside weekly. so stick with it!

    • I make a chart for how much I should have saved total each month I go along. so like in June I should have $--- and in July $--- total in the bank. that way you can know and see that you are progressing towards your goal!
    • if you put more money in the bank than you need to, DON'T LOOK AT THIS AS "BUFFER" ROOM, instead, ignore it and keep meeting that quota. it'll just add to the total at the end of the year!
    • don't take money out of your savings

    • -- instead, put that money away and ignore it. with the amount you have left (after putting your quota away) take whatever amount you want and put it in a separate savings pile for saving to buy a particular thing. it'll take a bit longer, yes, but at least that savings will still be there at the end of the year.

this works well for me bc its not super complex. I know how much I need to put aside at the end of the week, and can do whatever with the rest of the money I have left -- spend, or save more.

anyways, this is just how I do it. there are so many ways to budget and save -- you just have to figure out the one that works for you and be willing to meet the challenge! budgeting doesn't have to be super strict, and if you don't always make your goal its ok. just try and make it up the next time.




    I put away the Dave Ramsey recommended of 15% total for retirement and if I keep doing that until I actually retire, I'll be a millionaire by the time I get older, even when I'm still young enough to enjoy it. Then I take some of my paycheck and put some money in my debit card if needed. I'm trying to go without any credit cards ever and just use my debit card. Then I put the rest away in a savings account that will help me pay for editing my book AND buying a truck. My goal is to buy my first vehicle with cash, outright, and not have ANY debt.

    Dave Ramsey is awesome for money advice, too.

    But, my tip would be the 15% thing. At first, it does sound like a lot, but it actually isn't bad.

    My other tip is to not buy what you don't need all the time. Yes, spoil yourself every once in a while, but to save you can't spend all the time. Right now, I'm still living at home (but I am just 19 as of today) and that helps a lot right now.


    1. GAAH THX, IVIE!! <3

      ohh you've got it going, girl!! that's a great idea. I think once I get a full time job, that's def something to think about. and SAME. right now all my savings is for a car. my goal is so have all cash, or at least most of it paid off straight. since I work part time, I'm just putting money away for that right now XD

      truutth. I try not to spend lots, and usually succeed. except when my sisters and I go on fun shopping trips THEN ITS DANGERR XD so glad at what you've got going!! save all you can, while you can. thats what my mom says XD

  2. LOL, my form of budgeting is never spending money. XD Seriously, though, I do spend money, I'm just really careful about it. Also, I prefer to pay for everything in cash because then I can literally see the money going away and it makes me more careful.

    ~ Ella

    1. LOL well thats the way to do it (and man you must have some self control haha). sometime the best thing to do is just put a certain amount of money in your wallet and leave the rest home. usually that works, unless you have a sibling to borrow from #oops and same. I pay for all my stuff in cash, it works really well *thumbs up*

  3. I AM SO BAD AT SAVING. Long story short I started using a debt card and I AM SO BAD AT IT. Before I had online banking I would go into overdraw ALL THE TIME. (Still do.) Looks like you'll be okay! (ALSO OHDFISNFINEW that greenhouse is such goals.)]]

    Simply Me

    1. ohhh yes. maybe you should think about just using cash?? as Ella said above, it helps to actually watch what you are spending + you legit have what you have and don't have to worry about overdrawing. maybe going on a "no spending" break would be something to do?? its something I'm considering..taking a couple weeks and giving myself $10-15 dollars to spend and thats it. haha we'll see if I do it or what tho XD

  4. ooh that greenhouse <3333 and girl yes this is what i needed!!! i'm only saving for Missions right now..but i might start saving for a car?? but i might wait til after i have my permit ;)

    1. ISN'T IT SO PRETTY??? all the baby plants XD well, when you are young sometimes having one goal is the best thing to do! right now, I'm just saving for a car. start when you can! I started saving before I even started driving and its helped loads. my goal is to have all or most of what I'll need to buy a car..working on it anyways, haha

  5. Such good tips! I don't actually have a savings goal??? I just try to spend as little money as I can??? (which, with my current paycheck levels, is kinda hard because I literally get paid enough per week for a dinner and a coffee lol). I try to save as much as I can (and never spend above one paycheck's worth of money per week) though so I guess that counts???

    (I need to make a withdrawal bank account (or whatever you call it) because I only have a saving one rn and can't take money from it for some reason?)

    1. lol well that works in itself tho, and a gooooddd habit to get into. but hey, if thats what you can do right now, and you aren't going over what you are making, YOU ARE DOING GOOD and GO YOU!

      ohh yes. def do something separate *thumbs up* the savings ones are good bc you can't take money out haha xD

  6. great post and coincidentally just when i'm studying FINANCE in school lol in fact i just finished the lesson on saving :P so until now my motto was, "spend as little as possible" but then my assignment asked WHAT IS YOUR SAVINGS GOAL? and i was like, "MOM COME AND HELP ME SUCH HARD QUESTIONS" XDD

    i just ended up writing that 75% to 80% of my earnings will go under savings. so, at least i am surviving my chapter XDD (i'm starting to get snarky in my assignments so *crosses fingers i won't lose points*)


    1. woot woot!! perfec timing. ahh I know how that is! and that's great, but having a goal is KEY to MOTIVATION! and that's a great way to do it. either a percentage, or a certain amount is great. bc then you automatically know what to put aside, and don't have to think about it. you put that away and thats done with. the money you have left is spending money. its been working really well for me! especially when I take the amount I need to put away each week/month and seal them in envelopes so its untouchable.

  7. THIS POST = AMAZING. I try to set aside a certain amount of my chore money every two weeks, but a certain goal to have saved by the end of each year?? #genius I NEVER WOULD HAVE THOUGHT OF THAT o.O

    Thanks for sharing, Sarah! I really wanna try this! :D

    Liv //

    1. AH THANK YOU, LIV. right!! and thats great, bc you are already in the habit!! its really exciting to reach my monthly goal, I can't wait until I reach my end-of-year goal!! SO glad you are gonna try it. you'll have to let me know how it works for you! <3


*waves* hey there! thanks so much for commenting - just please remember to keep it clean <33

© the introverted extrovert. Design by FCD.