I will go ahead and disclaim this. I love having money just as much as the next person. However, we have to learn that God will provide and we should not just chase that coin all the time. We do, however, need to learn how to manage our money and prepare our hearts for when we do have a constant salary and we are not just blowing through our full-on adult salary.
Live Within Your MeansÂ
I know that is easy to dig into your college funds once you notice the new trends have been released and you have to get it before that one girl/boy you know does. However, in college and in life really, we cannot focus on what other people have. That is why God directs us not envy for the things that others have, this causes unnecessary emotion and the need to spend money where we do not have it. So, focus on you boo, and spend the money you have within your means.
Pay those Bills First
I know as a college student, depending on how much help you receive from parents or whom ever, this is something you may or may not have to worry about. However, if you do have monthly bills, pay them first, that way your credit will not crash and burn before even graduating, and you have no company or person breathing down your neck wanting their money.
Have a Plan for Your Money Before You Get PaidÂ
If you are planning on getting your nails or hair done, or buying the new Adidas UltraBoosts, plan that in your monthly budget. This allows you to already have that money set aside, and you can see how well it fits into your budget.
Save 10% , Give 10%Â
Yes, I am a Christian so I tithe 10% of my money. Some say that if you are receiving just an allowance from your parents, then tithing the money they give you. I totally agree with this method, and it is your money, so you chose what percentage you want to save and tithe. However, once you put your money into your savings, DO NOT TOUCH IT. (watch that money grow sis, and use it in emergencies, or as a rainy day fund when necessary)
Track Money, Save ReceiptsÂ
This will allow you to see where most of the 80% of your money is going when you spend it. That way it is easier to see that you need to quit spending $50 at Slim Chickens every month, and maybe set aside $20 a month to eat out and not cook at home. Also, saving your receipts will make it easier to view spending at the end of the month and make sure all those bank records are correct!
Online Window ShopÂ
If you are like me, then shopping is some sort of therapy for you. This is not a healthy way to cope, but it is better than some other forms. However, window shopping online, you can view all the items you want, throw everything into your cart and never check out. This will give you the same effect of being at ease when you shop. Also, this will help if you cannot quit thinking about that cute snake skin skirt, then you can put it in your budget for next month and delete all of the things that you were not even worth buying in the first place.
Budget PlanningÂ
1st Column: BILLS
This column is for all of your bills. Also, make sure to add your savings and tithes to this column so that they are sure to come out of your monthly check. This column is for things that you HAVE to pay for, and are going to get paid no matter what. Also, having this column and adding it up will allow you to see how much money you will be working with for Column 2.
2nd Column: EXPENSES
This column is for all your expenses. Including but not limited to: Gas, Transportation, Food, Clothes, Make-Up, Business, Nails, and Hair. This way you can work out how much money you will be spending for each expense and the areas you may not have money for this month and they are not necessary.
I hope this money management helped you. I am still working on my heart and money management skills as well. So, we are all in this together, and no matter what, God will always provide.
xoxo,
BP
