Budgeting On An Entry Level Salary

I don't make a ton of money, and I don't try to pretend like I do. Although living in Atlanta is arguably a more inexpensive city, living alone isn't cheap and I constantly find myself getting excited about finding a whole 50¢. While in college most of us had the assumption that we would make $50k right off the bat (which is kind of hilarious). With that being said, I constantly get asked how to stay on track with a smaller salary. A little secret?

It's all in the budgeting.

1 // Rent & Bills

Always, always, always account for how much money you need for rent and bills. Yes, this also includes your credit card bill. Instead of using an entire paycheck pay rent I pay myself half a month's rent and a rough estimate of half a month's bills to my savings account. This way I can make more out of a paycheck and not feel completely poor.

2 // Pay Yourself

Pay yourself, what? After my 401k is taken out I make sure to put a certain amount into savings. About $50-100 per pay check. Something will always come up: your water heater breaks, you have to buy new heels for a work brunch, your car breaks down - whatever! If there was one thing my parents taught me over the years it was to always make sure you have emergency funds.

Oh hello, this was me just last week when I had to take my car to the shop!

No, shopping is not an emergency fund. Whether it be $50 a month because you accidentally over spend on your credit card or $200 because you have extra money that month, pay yourself!

3 // Food

Confession: there are some brands I just can't live without. JIF! Double Stuffed Oreos! Honey Bunches of Oats! However, when you go to the store try to stray away from all name-brand items. Publix-brand ham and cheese is just as good as Boar's head. Yes, I said it.

4 // Gas

Be sure to pay attention to where you are driving, too. Since Bryant lives on the opposite side of town I need to be cognizant of where I am driving throughout the week. And weekends? If I'm driving anywhere long distance I try to make sure my car stays parked as much as possible!

 5 // Shopping

Like I have said time and time again, you always need to make room to treat yourself. I try to allow a little every month to give myself a new shirt, dress, or work toward buying a new bag. Face it, we're women, we like to shop, and that's just how it is. Allow yourself some extra funds.

6 // Be Realistic

Live within your means and be honest with friends when you can't afford something (such as a boozy brunch). A little sacrifice now will go a long way in the future.

7 // Time

Budgeting isn't all about money. In fact you need to budget your time, stress, and energy. Personally, I know my limits, and I know the nights I can and can't go out. Don't neglect friends and don't say no to work functions...they can help you in the long run more than you know!



But how do you know how much you can budget, you ask? A sweet college friend curated a simple Excel Spreadsheet that I tweaked to fit my needs, salary, and lifestyle. I have it set to show my discretionary income after I take out taxes, 401k, health insurance, and car/renter's insurance. And I just go from there!!

Also, a while ago i ran across this little savings guide, and I thought it was so cool! Definitely a cool little way to save, and a way to show you how much money you have towards the end of the year. I may start my own little savings jar starting in the New Year.

I've heard many different ways of budgeting, but it's all about what works for you! How do you budget your money?