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Anonymous asked in Education & ReferenceOther - Education · 2 months ago

Can someone help me with learning to budget?

So I got my first real job. I don't need criticism or anything, just advice. I'm out of college and had to move back in with my parents after they had health problems. During this time I've also gotten a job. I make about $900 every other week after taxes. My only bills are a $300 car payment and for the meeting 10 months a $300 medical bill payment, then once student loans start demanding people pay them back, I will have those. Does anyone know of a site, or a class that helps teach you how to budget your money and spend responsibly? My family is not the family to ask and I don't want to end up like them. So I'd like to learn before I finally get to move out and have a bunch of bills.


My car was an emergency purchase that i didn't have a choice in, where I live, public transport doesn't exist and the nearest town is 1 hour away. Health insurance is automatically taken out of my paycheck, car insurance is a family plan. As for gas and groceries, I work for the family buisness after I get off from my real job and help around the house and take care of my parents, in exchange they offered to pay for gas and groceries. Once I move out those will be factors.

4 Answers

  • drip
    Lv 7
    2 months ago
    Favorite Answer

    There are many apps to help you do that. My daughter and her husband plug in every single penny the spend.  They sit down once a month and go over what was spent and then set a budget for the next month.

    Write out what you bring home each month. Then write out all your bills.

    If your medical bill is $300 total, then figure in as much as you can so that bill is paid off ASAP. 

    In your budget you set aside a certain amount each month to go to car maintenance. Let that amount build each month. When a car emergency pops up, you will have a savings for it.  Set aside a bit each month to spend on gifts at Christmas. Set aside 10% of your salary for savings. And budget in a certain amount each month you allow yourself to spend on personal items, entertainment.  

    Your student loans are due six months after you stop attending school.  You can’t get out of that. You can apply for a reduced payment. 

  • 2 months ago

    Try contacting your local library or high school and see if they offer, or knows of any organization that offers free or low cost budgeting classes. Both of these should either offer them or know where to go to get into them. I did find a site that looks pretty comprehensive, that you may be able to use in the meantime. Good luck.

  • 2 months ago

    simple budgeting ... get a stack of play monopoly money and some small envelopes.  figure out your income over the payment frequency period of your bills [usually a month].  count out that much play money and put the rest aside [unused].  mark envelopes with each spending category and put enough for the bill out of the income stack into each -- with 'recreation' being the last envelope and 'saving' the first one ["pay yourself first"] ... fiddle the amounts where possible until there is zero money left in the income pile.  -- have fun

    by the way, you've forgotten auto insurance and motor fuel and car repairs

  • Rick B
    Lv 7
    2 months ago

    I would encourage you to read Dave Ramsey's books or buy his program.  It will teach to how to pay yourself first and get out of debt.  The biggest advice is to build up an emergency fund of 1,000, pay off your debts, then increase that fund to 3 to 6 month's expenses.  Don't buy on credit.  Save up and pay cash (which you should have done for your car).

    What about insurance?  Gas?  Food?  Clothing?  

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