So I have been asked countless of times before how is it that I manage to keep up with my finances and yet still make purchases of my desires. Its simple, managing your money!
Here’s a brief of whats going on currently in my life:
- I pay my rent at my mother’s apartment (more than $1000 a month
- I am a student (graduating May)
- I work full-time at a Sportswear Production Company
- I have Loans ($7,000 about)
- I have 5 Credit Cards
- I have a great Credit Score
- NYC is expensive
How do I keep track of my expenses and balances?
Apps: Mint.com has become part of my life. You can get alerts from anything such as what your current credit score is to where you are roughly spending your money on. And the best part about it: ITS FREE!!! Here are some previews of the site
Budget: If you are like me and get paid bi-weekly (I detest), you become best friends with budgeting. First pay check goes to half of the bills and rent, second to the rest. This way you always have money in your pocket.
Saving: Always, always put 50-100 in savings. EVERY SINGLE CHECK. Do not touch. This is your no touch zone. Watch the money pile up
Food: My biggest cost -___- I have learned to strictly manage this.
- Wake up 10 min early and make your own coffee.
- Buy a pack of bagels for breakfast–1 pack=6 bagels for $2.99 A WEEK vs 6 bagels for $1.50= $9.00 A WEEK
- Bring your own lunch to work! In the city where everything is expensive (especially Lunch) it has saved me extreme cash.
- Carry a $20 for the week. If you spend and need more, your overspending
- Have snacks in the office. I always have crackers, protein bars, oatmeal, container and other things for when I get hungry throughout the day.
Treats: Never forget to treat yourself. Whether it’s a Mani/Pedi or a new pair of shoes, set a budget of how much you will spend (usually $100-150 for me) every paycheck (biweekly) and treat myself to something. Never forget to treat yourself, it helps you keep motivated and increase your closet little by little.
Credit Cards: Never use more than 30%. Only for emergencies use 50% but always pay at least $10 more than the minimum. DO NOT miss any payments and pay early to get it out the way for the month. This will manage your life and credit score in the future.
Income: Do not settle for just your job. There is so many ways to make more money. If you are not using it, why not make money from it? Here are some of the online shops I have which I make about an extra $200-500 a month:
I am hoping i got through important point for everyone. Please feel free to comment below, or email me for any other questions or another post you would want to see at firstname.lastname@example.org I hope this is helpful for all you Fashion Lovers!!!