Spend

SO YOU FINALLY HAVE SOME MONEY TO SPEND...

Before you blow your entire budget on a concert or that new pair of shoes, think about what you’ll need first.  Do you have enough money for food for the month? How about necessities, like paper for schoolwork, or toilet paper and paper towels?

Once you plan for these basics, then you can think about how you can spend your remaining money on the fun stuff.

HINTS AND TIPS

  • Track your spending throughout the month so you have a good idea of how much you are using. Then, create a simple budget - don’t worry as much about the details - just start with your basic expenses. Try this handy mobile app to help get you started.
  • Be a smart shopper - compare prices and quality.  Be careful not to let a sale or discount coupon persuade you into spending more than you intend.
  • Divide and conquer - A good way to control your spending is to separate your money into envelopes and mark them with what you need to buy for the month. For example, set aside one envelope for food, one for household necessities, one for utilities, and so on. Once you divide your money into each envelope, stick with your plan.
  • Live within your means.  If you can’t afford to pay cash for it, you really shouldn’t buy it.

Spend Wisely