I’m in my mid-20s and just moved into my own apartment for the first time. No roommate, I don’t pay utilities, and my rent is well within my means. But I still feel like I’m overspending. I save about 20% of my paycheck, which is good, but lately, I’ve noticed I might be spending more than before. Any advice on how to analyze my spending better or changes I should consider as a newbie living alone?
Saving 20% is a great start! Have you tried using a budgeting app? They can help you track your spending habits.
Ming said:
Saving 20% is a great start! Have you tried using a budgeting app? They can help you track your spending habits.
I’ve been using YNAB and love it! It really shows where my money goes.
Ming said:
Saving 20% is a great start! Have you tried using a budgeting app? They can help you track your spending habits.
What’s YNAB? Is it easy to use?
Ming said:
Saving 20% is a great start! Have you tried using a budgeting app? They can help you track your spending habits.
What’s YNAB? Is it easy to use?
Yeah, it stands for ‘You Need A Budget’. Super user-friendly and helps you plan ahead.
Definitely create a budget with your take-home pay. Make sure to list all your expenses like groceries and fun money too!
Maverick said:
Definitely create a budget with your take-home pay. Make sure to list all your expenses like groceries and fun money too!
What do you mean by ‘fun money’?
Maverick said:
Definitely create a budget with your take-home pay. Make sure to list all your expenses like groceries and fun money too!
What do you mean by ‘fun money’?
Just the cash you set aside for eating out or entertainment. It’s good to have a limit!
I also check my bank accounts daily to keep track of spending. It really helps avoid those little extras that add up!
Make sure to categorize your expenses too! Needs vs. wants can really help you see where to cut back.
And remember to review your budget regularly. Life changes and so should your budget!