Several years ago, I was pretty inexperienced when it came to managing my money. It took some cluelessness about enrolling in the 401(k) at my first job for me to realize I needed to start learning what to do with my money.
With spring just around the corner, we’re heading into wedding season. That means brides- and grooms-to-be are in getting into full planning mode. It’s exciting to think about and plan your big day. What’s not so exciting is the price tag goes with it. The average wedding in the US cost $35,329 in 2016. Weddings are expensive, and it’s so easy to go over what you intended to spend.
I know you hear it at the start of every year: you need a budget! The nagging gets tiring, even if you know or think you need one. Budgets have a bad connotation. They’re restrictive, inflexible, complicated, time-consuming, and difficult to keep. They don’t allow for any fun. And how are you supposed to know what will come up in the future? Your income and expenses may fluctuate.
Earlier this week I posted about the 50/20/30 budgeting method complete with free budgeting calculator. If you calculated your percentages and decided that your spending and savings numbers are not what you want them to be, don’t worry. You’re in the same boat as many other people, but you have the awareness and motivation to change that.
I remember back a few years ago when I started my new job and decided to create a new budget using an Excel spreadsheet. I thought that there must be a better way than what I was doing. I was estimating amounts for each of my budget categories and then trying to track everything in and out month after month. Not fun! So I started researching budgeting methods and I came across one called the 50/20/30 budget.