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2018

July
(Monday Evenings)
9, 16, 23, 30
September
(Tuesday Evenings)
4, 11, 18, 25
October
(Monday Evenings)
8, 15, 22, 29
November
(Tuesday Evenings)
6, 13, 20, 27

Budget? I Don't Need No Stinking Budget!

So, you’re a teenager who has your first, maybe second job. You’re enjoying the freedom that comes with receiving a paycheck on a regular basis. Why would you want to complicate the whole process by restricting yourself with a budget? Well, when you put it like that I wouldn’t want to do it either!

What would you say if I told you that a budget could help you to end up with more of your money at the end of each month than you do now? Sounds a little better, huh? What if I said that you wouldn’t have as many regrets over “bad” purchases? Okay, maybe you’re willing to give a listen about this budget thing, right? Right!

Have you ever been on a road trip with your parents? I know you’re nodding you head “yes”, cuz we’ve all been on road trips with our parents. Chances are they used a map at one point or another in order to reach the desired destination. Well, that’s what a budget is, a roadmap to your finances! You use it to help reach your destination or “goal.”

How? Well, it’s easy. You take your paycheck total, subtract any obligations (things you have to pay with this money), decide what you want and when you want it (your goal). Take the total amount needed to reach your goal and divide it by the time you have to save. It only sounds complicated, watch:

Goal: Buy a used car
Requirement: $3,000.00
Time: 9 months

Do the math: 3000 ÷ 9 = 333.33

Now that I know I would need to save $333.33 per month I can decide if I make enough money to support my goal. I may need to make some adjustments to my spending habits. Such as eating at home instead of eating out, renting movies instead of going to the movie theater, buying soft drinks instead of those expensive iced lattes at the local coffee shop. Or, if I simply don’t make enough money to save the goal amount I can always change the final date to reflect a longer period of time. If I change the deadline from 9 months to 12 months I would only need to save (3000 ÷ 12 = 250) $250.00 per month.

Want to know more? Come to our Independent Advantage class! You’ll learn about budgeting and so much more! Read our class description and find out what you’ll do, not to mention all the cool stuff you’ll get!