Sadie and Emma,
Do you want to win with money? Yes, would be your answer 🙂 The way you win with money is getting on a budget! By being on a budget, you are telling your money where to go!
If you don’t track your spending and plan out your month and every dollar of income for that month then that money will just disappear. When you first start a budget, you will be amazed at how much you spend on different categories. It can be mind-blowing in fact. If you eat out five nights a week, you might not realize how much you are actually spending every month.
To start your budget, you need to figure out your monthly expenses. Track every dollar you spend. Update your spending once a week. Every week when you add in your weekly spending, you might need to update certain areas of your budget. Maybe you went over on your eating out expense, so that extra money to cover that category is going to have to come from somewhere else. Your budget is a fluid object, it changes constantly.
After a few months of budgeting, you will start to really get a feel for it. This is when you can really start optimizing your spending. Look at places where you can trim the fat, and cut back on excess spending. Do you really need to go spend that $20 a month at the coffee store? No, make your coffee at home and save that money. This is where you can make your changes.
The goal here is to limit your spending so you can save as much as you can. The more you save, the more you can invest. The more you invest, the sooner you can “retire”, or more so really do what you want to do. Find a passion, and go after it! This all starts with budgeting and getting your expenses under control. Start a budget. Update the budget every week. This is how you WIN!