$how Me the Money

As we continue our journey into the world of adulting we may find ourselves at a crossroad when we are financially cut off, thrown into never ending bills and financial responsibility. Now I’m not one to talk about being an expert on spending, as I am currently on American Eagle Outfitters debating on buying a pair of boots … But over the past week I have spoken to several people from successful spenders to people who have made financial mistakes and are still paying for it. This experience allowed me to become more self aware of my spending habits, and hopefully will help guide you too. Here are a few of the main tips I took on how to spend money and  keep most of it in our pockets.

1: MAKE A SAVINGS ACCOUNT!!

My father told me years ago when I got my first job at sixteen to save 20% of my pay checks and put it into a savings account, he more or less forced me to do this. Thank god he did though. Putting away a percentage of everyone of your pay checks into a saving account is immensely important, it’s also more important that you don’t touch the savings account. This allows you to save up for the future.

tumblr_m3bwbqnjig1rrgbmqo1_5002: Plan out necessity spending 

Each month we all get a lovely gift in the mail of our bills from electric to credit card to rent. So per say each month all expenses are around 200$ make sure you don’t spend that money always have that amount engraved in the back of your mind.

3: Make a grocery list

One of my greatest faults is I always go to the grocery store and end up buying things I already had at home. If you make a list of specific meals you will be making it will be less likely you go off in the candy or ice cream isles and come out with 2000 calories.tumblr_njzs9n59091qj4315o1_400

4: Budget your spending

Very adult sounding but it is crucial to make sure you make more money than you spend. For a week straight I document every one of my purchases and broke that up into the categories of Need and Wants; than subtracted  that from my recent pay check. Lets just say my $4.69 non fat iced mocha lattes from Starbucks started to add up. giphy-facebook_s

5: Invest

Put money into stocks, honestly never understood this until I actually put the time into reading about stocks. (its nothing like Wolf of Wall Street).  Here is the site that was recommended to me and I would recommend to take a few minutes out of your day to read. http://www.investopedia.com/university/stocks/stocks1.asp

denby-wolf-of-wall-street

 

6: TREAT YO SELF 
Definitely not on a weekly basis but if you have worked hard and put money away for weeks TREAT YO SELF to online shopping, a night out in the city or those tickets to the Red Sox’s game. Because we all deserve a treat yo self day, just make sure it doesn’t turn into a week, month or year or treating yourself.

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