In the words of the great poet…. Lil Wayne… I got money on my mind. But no, Lil Scrappy I don’t got money in the bank and Shawty I really don’t care what you drank. And sorry Jay Z but you won’t catch me In the Ferrari or Jaguar switching four lanes with the top down screamin out money ain’t a thang… Cause money IS a thing
… a BIG thing.
Who knows- maybe you do have “money in the bank” so you’re screaming out money ain’t a thang, but if you’re like me you’re B-R-O-K-E.
I’m not talking about the savings account that the parentals have kept off limits since you received your very first birthday check in the mail. No. I’m talking about spending money- for a quick Chipotle run with the girls or an after workout Starbucks stop or adding to the “volume” of your closet.
“You don’t need those things” my Mom tries to convince me when I beg her for some quick cash. No Mom- I don’t need them, but I sure do want them. And what’s so bad about wanting something every once in a while? NOTHING!
But what happens when you have a job? I know for me, even when I’m making money I still can’t bring myself to spend it. I think I have an unhealthy attachment to my money… as well as a serious shopping addiction… So what do I do? I budget. Or at least I try to.
It all comes down to getting your parents in favor of your plan because if you’re under 18 they are the ones who control your bank account. We have come to the agreement that I put 25% of my paycheck into savings and I keep the rest for spending.
Now here’s another problem… I can spend that money within a matter of minutes. I fall into the trap of avoiding big splurges on things that I want but can’t convince myself it’s worth buying and then I spend all of my money on little purchases for food and Starbucks and the movies.
So it all comes back to BUDGETING! I’m not the best person to tell you how to do it because I haven’t quite figured out an effective system yet. But there are many resources out there that can spell it out for you plain and simple. Start by asking your parents for help setting up a plan. Next you can search the internet for tips and advice and personal experiences. I know I am going to!