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Archive for February, 2012
You’re Never To Young To Learn To Budget
February 2nd, 2012 by bousson | No Comments | Filed in Budgets, Familes
If you want life to be less complicated then learning how to budget from young age will help in a great many ways. Just because you don’t have immediate bills such as rent, mortgage, food does not mean you shouldn’t budget your income so as you know just where your money is going.The great thing about starting out in work is that generally you will still be living with your parents which means a simple budget will suffice.
As a rough guide follow the tips below.
• Money for food and lodgings, you should always give a part of your income towards the cost of your food and the utilities such as electric, gas and water. Most parent will not ask for large sums of money but don’t be fooled into thinking you should give nothing.
• Social activities and hobbies like climbing, cycling or just generally socialising with your friends should be next on your budget.
• Clothing again is something we all need so be sure to allocated a proportion of your budget to this.
• Holidays, what do you spend on going away, if you don’t go away because you don’t have enough money then follow the next tip?
• The younger you start learning to save the easier it becomes the older you get, always allocate some of your income towards savings of some sort. A minimum of 15% should be put towards savings of some kind.
Tags: budgeting young, budgets for younger people, get a budget young, start budgeting young
