Money, money, money!

Money, money, money!

April 8, 2015

Let’s take a quick poll.  How many of you actually balance your checkbook?  How many of you just check your balance online and go from there?

If you don’t know how to balance your checkbook, then it’s about time you learned.  No, I’m not going to give you instructions on how to do that but what I am going to tell you is that it’s important you learn how to create a budget for yourself.  Whether you are graduating or just living on your own in Kirksville, it’s one important aspect of being an adult—well, a self-sustaining adult who is not constantly asking for money from your parents because you’re not really sure where all your money went.

Here are a few things to think about:

Incoming Money (i.e. your paycheck)

– Outgoing Funds (such as student loan payment, car payment, insurance, cell phone bill, food, rent, etc.)

=Expendable Income

Obviously you want your incoming money to be greater than your outgoing funds.  But, if not, then you need to re-evaluate how you’re spending your money.  Maybe you can’t go out to eat every Friday or out with your friends every Saturday night.

One more important aspect of being an adult, how can you afford your life if you’re moving out on your own and to a new city?  Use the above formula and see what you could be left with before accepting that “too good to be true” job offer.

 

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