Budgets. The daunting thing that almost all 20-somethings try to avoid because well adulting sucks sometimes and money talk is stressful. But creating a fool proof budget does not have to be daunting or take hours on end. Budgets come in many shapes and sizes and it’s important to remember that there’s not a one size fits all budget system.
Creating your budget is key to paying off debt. It will show you where you’re overspending, under spending and help you visualize where your money goes each month. Automated systems such as Mint do this for you (note** not an affiliate link this is a free service that I strongly recommend and use myself). You can sync your online accounts with this and it will sort your transactions to the best of its ability then ask you to do the rest. I must say this is a huge time saver and helps you get organized quickly.
Of course, you can do this the old fashioned way. Grab those paper statements (if you get them), print out the digital ones you get and start sorting. Once you have identified where you’re money is going, it’s time to start building your budget.Continue reading