I love budgeting apps. I simply can’t emphasize that enough.
In fact, I’ve been using budget tracker apps for more than 5 years now. I started using one when I was in college and it was such a huge help to me that I never stopped using them. Because of my budget tracker app, I know exactly where I’m spending my money on, how much I’m spending, and when I spend the most (usually around the holidays, weekends, or celebrations).
I have four bank accounts with two different banks.
I was still in college when I decided to open a new bank account in the same bank as my first account that I’ve had since I was in high school. When I told this decision to my dad, he immediately accompanied me to the bank.
To my surprise, the banker told me that it wasn’t such a good idea, at least not for my age.
When I was 19 years old, I worked for a few months for a small company in the business sector.
One day, one of my co-workers came up to me and offered me a credit card application form. She walked me through all the steps, telling me how easy it was to “get approved” by the bank. She said even a minimum-wage earner could get approved by this bank, so I would certainly get in, too. I skimmed the brochure she gave me, thanked her, and politely declined. I then watched her go to another co-worker, repeat the same spiel, and actually get that other woman to sign up.
Many people struggle with budgeting.
And I have to agree– budgeting isn’t easy. First of all, it takes some time to properly allocate your money. How much is going to your food expenses? How about your transportation costs? You have to factor in all that before you can create a wise budget. On top of that, budgeting is actually just planning, so you need to be disciplined enough to actually follow through with that plan.
If you’re struggling with your budgeting, then great, you’re on the right post. Here’s one method that might work for you: the envelope method.
Have you ever made a budget before?
No?
But have you ever tried allocating your allowance or salary for many different things, and then try your hardest to stay within those boundaries that you set?
If yes, then congratulations, you’ve experienced budgeting before.
The thing is, just budgeting simply isn’t enough. Especially if you’re still just a student, or if you’re an adult but you’re living paycheck-to-paycheck, simple budgeting just won’t cut it if you want to live a life free from most everyday financial woes.
What you need is wise budgeting.
