It might not be the sexiest topic to think about between assignments and exams, but personal budgets, especially for students, are more important than we think.
If you want help getting on top of your finances, Budgets are Sexy can help you out.If you’re a student (or human in general) like me, then you’ve probably been the victim of what I call WTF credit card balance moments. That moment when you thought you had been really good with money but look at your credit card balance and think, where the hell did I spend all this money? Your life flashes before your eyes and you wonder if you’ll have to sell your body to make some extra cash or liquidate your entire beanie baby collection on Kijiji.
While the blog offers financial advice for all generations, it focuses a lot of the articles and ideas on young people and students. Now I know when you hear budget you think, “Ugh boring kill me now,” but it isn’t as bleak as you might think. Having a budget doesn’t necessarily mean you can’t buy and do things that you want, but it’s main purpose is to give you an idea of where your money comes from and where it’s going. Doing that extra step can have a big payoff down the road.
One of the best resources the blog offers are free templates to help you budget yourself. In the templates, there are detailed instructions of how to fill them out and it doesn’t even take very long. For example, this template gives you a kind of financial snapshot with room for paycheques, credit card balances, savings accounts, and then outlines what your extra budget is after all your expenses. I think it’s safe to say from now on I’ll be calling all of my paycheque “Sexy Income.”
Screenshot from www.budgetsaresexy.com
It’s really easy to fill out the templates and after a while of doing them, they get easier. I don’t know if I’m just a weirdo, but I really enjoy keeping track of everything. While I haven’t started spending any less money yet, it’s just interesting to keep track of my habits and sometimes judge the bad ones.
If you’re someone who struggles with holding onto money, having a savings plan can make a world of difference. I worked at a bank for four years and I can honestly say that having an understanding of your money early will be a huge benefit later in life, especially (and hopefully) if you’re making more money.
Most of the articles were funny. When I was training at the bank, they had these online learning exercises. They were dry. Like go get a glass of water dry. Banking is boring but it doesn’t have to be. Budgets are Sexy does a great job of including humour when possible and it helps to keep you awake, even during the more serious topics.
So if a sexy budget interests you, check out Budgets are Sexy for some great resources.