Oh yes my fellow students, this is yet another article on money! Now don’t freak out again, we just started! I promise that it’s not that bad! Last month, after introducing my purpose for this column, I gave you a challenge. This was to complete as much as Dave Ramsey’s Baby Step 1 which was to save $1000 in savings as an emergency fund. How did some of you do so far? I would love to hear some feedback from some of you, so feel free to email me at the email address at the end of this article. For some of you thinking, what is this chick talking about? Please make sure to check out the March Issue or our website, thenavigatornews.com, and look for an article titled,  “Are you failing when it comes to money?  No Surprise!” This was the first article of the series detailing this first step.
This month we will be talking about another dreaded word.  Now take a deep breath…this may be difficult for some of you but try to say it with me. Budget. Yes, I know that some of you just cringed, but let me reassure you, it is once again not that bad! I do not want to bore you with lots of statistics, nor do I want to start with a bunch of difficult math for you to try to piece together throughout this article. I am simply going to talk briefly about the Basics of Budgeting and then offer you a convenient already laid out budget sheet here in this very publication.
Now I’m not sure how many of you know about budgeting because when I was first in college I didn’t know hardly anything. Money skills were not something I was taught, but I quickly learned that it was something I needed to know and I think that is the biggest thing I want to press here. People may tell you that money doesn’t matter. That it is just a few bucks here and there. Or that you are young, live a little! Let me tell you…young is not something that lasts forever, young eventually becomes old and opportunities quickly become lost.  It may be boring sometimes but it is worth every second you invest into it.
Budgeting merely means that you spend your money on paper before you spend it elsewhere, or better yet before you even get it in your hands. The method of budgeting would really depend on whether or not you have a salary or irregular income. Those with a salary (or steadier income that is generally the same amount) can spend most of it on paper before the month is even happening. If you have an irregular income, you would need a general idea of what you earn or get the check first (don’t cash it) then spend it on paper before you deposit that bad boy int he bank.
There are three ways that you can do a budget:  the Monthly Budget, The Paycheck Budget, and The Half-Pay System.  There are more ways to do a budget, almost dozens, but finding the budget that works for you is what is best. It is not one size fits all. Keep trying until you find the one that works.
I have included basic blank budgets for each of these budgeting methods for you to try it out.  And yes, it’s free.  Don’t you just love free stuff? Your next challenge, if you choose to accept it, is over the month of May and through the Summer term try out these budgets and do you best to follow them.  See if you can find your balance and manage your own system!  If you have any questions about these budgets or other helpful tips, contact me at [email protected] with any questions, comments or concerns about your financial future.  Keep investing time to your future my fellow students!  It is well worth the effort.