Behave and Save

Document created by jasmino on May 17, 2016
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While in High School I worked, played sports, and attended class. Everything seems to keep me busy, but there was always the constant threat to my paycheck... shopping. I never really payed much attention to how much I was really spending until I took a personal finance course. This opened my eyes completely as to how I was approaching saving money. I was doing it all wrong. I would buy whatever whenever and then be left with no money for my bills. The solution was making a budget and using the envelope system. I have used this system for over two years now and have made a complete difference in my financial life.

First, write down the amount that you made on the check. Subtract each amount that must come out of the check. For example; food, insurance, cell phone, internet, gas, etc. From there you must take out what you budgeted and separate it into envelopes. For the next two weeks, or one depending on your check, this is all that you can take from. Anything left in the bank is your savings!

Remember when saving you NEED a backup plan, so make sure there is at least $500 in your savings. From there the rest is easy! Stick to it and you'll be on your way to saving lots for school!