As a college student, budgeting is not always fun. Sometimes, I just want to spend, spend, spend. However, over the years, I have come to enjoy budgeting. There have been times when I realized that I should have saved my money and put it toward gas instead of buying Chick-fil-A a couple of times a week. By saving, budgeting has helped me plan for where my money is going instead of having regrets about where it went.
This is so true. Oftentimes, I wonder where all my money went, knowing that I was the only one spending it. It is crazy how expenses can add up when you are not being diligent. That one trip to Chick-fil-A plus those movie tickets, paying for parking, and dinner at the beach can add up quickly with my small budget.
With that said, budgeting has tremendously helped me keep track of my money and even leave money to save. This may sound silly, but you would not believe how many people do not budget and end up falling short, ESPECIALLY in college. Some people make plans with no money. I wanted to show myself that I do have the responsibility and self-control to manage my finances. Budgeting is not always easy, especially if you are like me and wish you could eat Chick-fil-A every day instead of saving money for gas, but it is wise to budget.
I believe that even if you have it easy as a young adult and MAY not have any bills at the moment, practicing budgeting now can be a beneficial routine because it will set you up for practicing budgeting when bills and other things come up in life. You can always work with what you have and plan instead of regretting spending money on fast food every week.
I believe that budgeting is definitely something that takes practice, and I include EVERYTHING in my budget. I include my monthly subscriptions, my car insurance, car note, my money for church, gas, friends’ and family’s birthdays, etc. Then, at the end of every month, I decide if I was satisfied with all of my expenses or if I felt there were some that I did not want to give money or attention to anymore.
It makes me feel responsible because I am being responsible. I know exactly where the money is going and do not feel guilty for “silly” purchases because they were already in my budget/plan.
Now here is the thing about budgeting. You cannot just write it out; you actually have to follow it. I know this may sound silly, but it is even sillier to write out a thought-out plan and not stick to it. Saying you are going to start taking ahold of your finances versus actually doing it makes a HUGE difference. One keeps you stuck; one keeps you moving forward and being more diligent with your finances. Remember, money is a resource and a tool to help you out, so plan out how you want to spend or save your money.
Also, budgeting is not being a penny-pincher. No one has infinite money, not even the world’s richest people. They may have a WAY BIGGER budget than you and I, but their net worth stops somewhere. Budgeting is just a way to be more DILIGENT with your resources and with what you have.
Below, I included some budgeting tips to help you get started! I am excited to see you flourish.
