Mo' Money, Mo' Budgeting!

One of the most important personal finance tools a person can have is a simple budget. From first hand experience, moving to a new area with no budget and no real plans is always a deadly move. I remember my first months in San Francisco, when all of my FAFSA and savings were dried up because I hadn't pre-anticipated the high cost of living in San Francisco. Compared to North Carolina, everything was a luxury. Taxes at 9.5%? Minimum wage at $9.79? Un-heard of. 

Well, after pleading and crying to my parents for help, we came up with a budget for my year. After that, I finally secured a decent job and became a self-sufficient college student. Let me tell you: paying for EVERYTHING w/o your parents is such a great feeling. Knowing that they can't come back and say, "Well, it was paid for with my money!" is a relief beyond all reliefs. 

Alright! Back to the point. My budget had to be updated because of the addition of the Gilman, which makes me happy because I have a little room for error now. And by error I mean, enough safety cash for emergencies--like a last minute excursion to London? Kidding. Here's the breakdown:
****The AOK German health insurance is $925.00 for the year, but they divide it amongst the year and take increments of the payment from your German bank account monthly.****

So you see, with the budget I have planned out using overestimates of what I will probably spend each month, I still have $517 left for emergency money. I even included the plane ticket (which is already purchased), even though my dad bought it. This is just for safety in case my dad asks me to pay him back. He has already offered to match my savings + a little extra, but I'm not sure if he will pull the plane ticket out of this. But, I think with a budget, it is always better to add everything, even if it might not happen. You'll be overprepared, but since I have never been to Europe or dealt with exchange rates,  I want to have that 'just in case' funds.

p.s. I forgot to mention that my little stepbrother suprised me with Glee: The Music, The Power of Madonna! We are probably going to pre-order Series 1 DVD sometime this weekend.

How do you keep track of your money? Do you like the idea of creating a monthly or yearly budget?


  1. Any last minute excursions to London can cut out rooming fees in the budget, bc you can sleep on my floor (: