Save Money YOUR Way

Saving money is hard. You spend all your time pinching pennies and putting that money in the bank and the next thing you know you’re drunk at the bar and blowing your savings on a round of shots for everyone within a ten foot radius. Ok, maybe that’s just me, but you know what I mean. No matter how hard you try to save, there is always something to spend the money on: new clothes, a concert ticket, a hot new bag.

On one hand, you know you should hold back on all the spending because you should be saving. On the other hand, you are young, you are in school and you just want to enjoy yourself….with these on your feet.

The good news is, you can do both. Watching your budget is like watching your weight: if you deny yourself everything, eventually you are going to go crazy. For me it was a Burberry trench coat, two new pairs of jeans, and a large pizza with a side of garlic sticks (and Ranch dressing).

After denying myself any sort of shopping (or fattening treats) for months, I just couldn’t stop myself. The jacket was beautiful and the pizza was heavenly, but I definitely regretted both decisions later. Especially after receiving my bank statement in the mail. And trying to squeeze into those jeans.

Budgets are difficult because they’re different for everyone. We all have different needs and, more importantly, guilty pleasures. For some it’s Starbucks. For others it’s manicures. For me, it’s shoes and bags.

When books and magazine articles say that you should only be spending this amount on your living situation, X percent of your salary on dining out and close to zero dollars on “luxuries”, for example, it is unrealistic to expect that to work for everyone.

A more realistic way to budget – one that I have been doing for the past couple of months – is to tailor a budget to what fits you (and all your guilty pleasures). Choose the things that are important to you and make adjustments around them so you don’t feel like you are denying yourself. So, if Venti Non-Fat-No-Whip-Sugar-Free-Caramel-Lattes are your thing, get em, but make sure to save money on other things: cut back on your restaurant eating, buy only used books, or reduce your cable package (since you probably don’t watch all of those movie channels anyway).

Remember, though, that while you are allowing yourself a little indulgence every now and then, you are still trying to save. So you can’t buy every single new bag that comes out every season. You can, however, live your life and do the things you want to do, without feeling guilty (or broke).