Start a blank spreadsheet, take a deep breath and look at your bank account. I have some examples here to give you an idea of what to do. If you look at it that way - I’m not doing advanced formulas I’m just deciding my priorities and gearing up to defeat my debt - budgeting is not scary. Think of a video game where you know you need to save health potions for the final boss fight. Budgeting is more like resource management. I’m just not a numbers person - I’m a word person.īut I have great news: Budgeting is not about math. I picked a major where I didn’t have to take another math class ever again. My teacher kindly took me aside and told me I needed to drop the class, because otherwise I would screw up my chances of getting into a good college. Times: I almost failed algebra II in high school. Here’s a fun fact about me that I never thought I would be publishing in the L.A. With this eight-week newsletter course from the Los Angeles Times, assistant editor Jessica Roy will help you get a handle on your money stuff. There are some personal finance experts out there who will tell you that you need to spend as little as possible to “get serious” about debt and savings. Your best chance of success is to accept reality, which usually involves spending some money on things that aren’t absolutely necessary but that do make your life better. Crash-dieting your finances is not a sustainable lifestyle change. It’s like saying you’re going to lose weight by only drinking green tea and eating plain kale. Yes, you can budget and still have fun! Budgeting is not slicing your expenses down to the bare minimum and living like a monk. Once you know how much you have to spend on necessary stuff, such as rent and gas, you’ll know how much you can throw at debt and how much you can spend on fun stuff. Future wants: vacations, weddings, a PS5) What do I want and need my money to do someday? (Future needs: emergencies, car repairs, medical stuff.What do I want my money to do before I get paid again? (Going out to eat, clothes, Netflix, local news subscription).What does my money need to do before I get paid again? (Rent, gas, bills, groceries, debt payments).
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