13 thoughts on “Budgeting 101 – Class 1

  1. I look forward to this class; money management is still somewhat foreign to me. Some banks actually set goals for you and give you money if you meet them! At my bank, they give you savings account goals to meet. The first was to save $1000. The reward for reaching that goal was a $25 debit card, which isn’t a ton, but it’s still an incentive!

    • That’s awesome that your bank does that! That’s a really smart idea for them to do, but you can do that on your own as well. You could set up a reward system for yourself. It doesn’t have to be extra cash, but maybe you wanted to buy something or go on a trip. Set a goal with something you really want to work towards. I love the reward system. I use it with my new foster puppy and myself all the time!

      I’m glad you’re liking my “class”. I’ve got two more posts coming so stay tuned! I would love to hear what you think about it once you’ve had a chance to read them all.

  2. Hey Katie,

    Not sure if you’ve seen this before but a guy decided to go to extreme levels to pay off his student loans and such. It’s pretty inspirational although extreme. I’m trying to be more conservative myself. Anyway thanks for previously commenting on an article Dan wrote over here at Life Adrenaline. I makes us happy to hear from people like you!

    Huffington Post (boo) article if you’re interested: http://www.huffingtonpost.com/2012/05/16/how-to-pay-off-90000-stud_n_1522534.html

    J

    • I just read the article… that’s more than impressive! I’m going to have to share it with my twitter followers! Student loans are intimidating very intimidating. Good for him to have the perseverance to buckle down and not give into that money sucker!

      I’m glad you came to my blog to check some of my work out. I do like your blog as well. Having a community of young professionals is a great support system and I think very important for anyone starting out. Looking forward to more conversations with you and Life Adrenaline.

    • Thank you! I love my job and I’m very lucky that I have one.

      Avoiding lifestyle inflation is a good point. There’s a lot of resources out there where you can have just as much fun with a much smaller cost.

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  7. great tips! I have an issue with transferring money from savings to checking and back again. I also have realized I often bounce because of the “way to save” plan at Wells Fargo. They take $1 from every debit card transaction and put it in your savings. In THEORY this seems smart but when you are balancing your account, it’s unlikely you are factoring in those dollars here and there that are being taken out randomly. I’m getting rid of this option on my account.

    • I hear you on that one. Sometimes banks have good intentions but the key is to make it personal for you. I should be writing a post this week that will basically be an update for how I’m keeping track of me budget using Mint.com and an envelope system. Hopefully you can take a look at it and get some helped tips.

  8. Pingback: How To Shop and Save on Groceries | Ask The Young Professional

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