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opening up about my credit card debt + dumbest financial mistakes.. | GIRLBOSS GUIDE

**opening up about my credit card debt + dumbest financial mistakes.. | GIRLBOSS GUIDE**



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welcome back to Girlboss Guide! today i’m discussing the deal with credit cards, a credit score, and discussing my past DEBT. I am nervous to post this, but i …

HOW TO BUDGET YOUR LIFE | GIRLBOSS GUIDE

**HOW TO BUDGET YOUR LIFE | GIRLBOSS GUIDE**



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how to make a budget and save money for your goals! budgeting for beginners 2019
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ABOUT ME: I’m Lindsey, and I’m 24. In my videos I share girlboss advice, home decor ideas, sustainable living, and discuss mind and body health. If you like my videos, please subscribe! It is 100% free and simply gives you my new videos when you log on to YouTube!
what's up you guys welcome back to another video on my channel I'm so happy to have you back this video today is gonna be in my girl boss guy in a series which is a new series here on my channel for all of us to just figure out our adulting and business and financial tips and advice and you guys said you wanted to see a video on how to budget and just how to budget and save for your goals and save for travel and so many of you guys said to me you don't know how to say if you're spending away too much and that you want to have money for things but you're you're broke or you're a college student but the good news is that you can absolutely set up a realistic budget for yourself that will hopefully if you choose for it to help you it really really can help you and I hope you guys will enjoy this video I basically just break down my monthly expenses and I'm going to kind of share with you guys how to do that alright first step in creating your budget is to understand your personal financial situation now what I say to you guys about my personal financial situation and what has maybe things that I use and things that I have in my budget that might be totally different than your budget because we have different incomes we you know what I mean we have completely different lives different financial situations so you really do need to take the first step of being realistic when you are creating your budget or starting to think about your budget be realistic with your financial situation the money that you have coming in and the expenses that you have to pay as well right step number 2 to take creating your budget the first thing that you need to do which might sound pretty simple is calculate your total monthly income or your average monthly income if you have a job that it fluctuates a little bit like myself I do not have a set monthly income I don't have a set weekly income or a yearly income it fluctuates so much because I get income from very many different sources with the work that I do and I don't have one paycheck that comes in I know what it's gonna be every month now I know that a lot of jobs you might have a set amount that you get paid hourly and you might work the same amount of hours every week or every month so if you have a set amount already for your income and then amazing you already know what that is gonna be for yourself so you need to know this number of your average monthly income but if like I said for me you have an income that fluctuates a little bit or maybe you have a part-time job and you're not always working the same amount of hours what you're gonna want to do is look at the last I would say look at the last six months that you have brought in money and just to be safe for your budget look at the lowest paying month of your last six months if you really really want to you can go back a year if you know how much you've been paid every month for the past a year I would recommend going back at least three or six months and getting your lowest income that you made and making your budget based off of that income you just want to be safe when you're creating your budgets so that you're not calculating for an income that you might not make if you have a slow month or if something happens where maybe you can't work as much or whatever it may be so calculate your budget based off of the lowest income based off of the last six months if you have a fluctuating income like myself just to be safe because you never know when there might be a slow month like I said all right after you know your average monthly income that is a number you're gonna want to write down you can type out your budget I just use like a Google Drive document for my personal budget but if you want to like handwrite it and that's your thing you can totally do that too so now once you have that number you are going to want to add up your average monthly expenses which is the second big number you need to be aware of when creating your budget your income and then your expenses you're probably going to want to spend a little bit of time on this getting into the nitty-gritty so you can have an accurate amount because if you have no idea how much money you're spending per month and you're just like throwing out money everywhere then there's not going to be a real way to calculate your average expenses so what I recommend doing is looking at your most recent three months of bank statements credit card charges basically everything you've spent if you do spend money in cash it's gonna be kind of harder to do this because you're not gonna really be able to go back and look at all the money that you were spending if you didn't have it tracked on you know your banking app or your credit card statement if you use a credit card or whatever it is I personally use a debit card for like 95 percent of things that I purchase pull up your statements online or if you feel like printing them out you can print them out and this probably is gonna sound not very fun to do but kind of try and make it make it interesting make it fun just be like if I do this you know it might take me a little while but once I do this like I'm gonna know exactly how much money I'm spending on an average month and that's going to be so helpful to me to actually know that versus just have no freaking idea how much you're spending I say take three months because if you just have one month it could have been that you had one month for example December like December was a recent month that you would go back to Christmas is in December and you might have spent extra money on going home to visit your family and buy gifts for people and holiday things so that's why I'm saying look back at three months so you don't just look back at one month and it could be totally different from what you were spending the month before or the month after so let's back it on average of three months of bank statements to add in all the money that you spent for those three months and then average it so you have an average monthly expenses amount I can't stress how critical this step is if you really do want to have an accurate budget for you all right so once you have your expenses you are going to want to divide those expenses into basically your necessary expenses and then you're unnecessarily more frivolous expenses that you could go without so for example I'm gonna go through my monthly expenses for you guys these are things your monthly expenses are things that you have to pay every month and they're never really gonna be negotiable they're always gonna be there and those are the things that you need to pay so you can have spending money hopefully but my monthly expenses are rent I have written here Idaho Power which is my power bill that's the only utilities I pay for my house which is nice but whatever utilities you have that you have might or might not have to pay that's gonna be a monthly necessary expense and then I have dog food obviously I buy dog food every single month for my pup and I pretty much know how much much it's gonna be every month I have a lift slash Juber I personally just use lift I have a lift Sasha d'hubert a bit because I do not have a car at the current time being so that is how I get around to places a lot of the time and then I also have groceries and alcohol purchased now you can separate these if you want but personally when I go grocery shopping or go to like Trader Joe's or something I'll buy like wine and stuff at the same time as I'm buying food so I factor that into one thing and then I do have another tab for eating / drinking out so that's a separate one for me now that's not something that is necessarily a necessary expense but I'm reading you guys just mine I know I spend money on these things every month like food and alcohol are grouped together for me and then I have eating and drinking out which is not a necessary expense but something that like I said something that I know I'm gonna spend money on every single month the next one I have is depop supplies / extra shipping costs which is just like a business expense for my depop I spend a little bit of money on that every month and then I have an amount for my nails including tip because a lot of times if you don't factor that in that's gonna be an additional line ten or then or however many dollars but I get my nails done at least once a month and depending on if I'm getting just nails or nails and toes I have an amount set for that and then I also have my gym membership which is just the YMCA that's pretty inexpensive I pay that every single month and then I also have Spotify which is you know if you had a phone bill which luckily my dad still pays my phone bill it's on a family plan which is like so freaking nice with him I literally don't even know why he still does that thank you Dad but if you had a phone bill or you have to pay for your Netflix or your Spotify or SoundCloud or literally any of these things that might be a monthly charge for you my personal only one that I paid for out of my own pocket is Spotify you are gonna want to add up all of these monthly things so this is why it's really important to go into your bank account and see what you're spending big amounts of money on because if you just try to guess you're probably gonna forget some things like I wouldn't necessarily think dog food I need to put that into my budget like for some reason I might just forget some things off the top of my head I might not think of that ten dollars that I spend on Spotify every month just cuz I don't think about it it's like an automatic payment but make sure you know these amounts and you're gonna want to add them up what I did is just added them up created how much money that is and that basically is like that amount is gonna be your minimum monthly income because you need to at least be bringing in that amount of money to be able to pay your bills and pay your monthly expenses every month now there are certain things that if I was really trying to stick to a tight budget and I was trying to spend less and save more I would probably stop getting my nails done I'll probably stop my YMCA membership maybe I would stop eating and drinking out so much or I would give myself a less money for that you know what I mean you don't have to have the same categories as me but you're gonna have those things every single month that are non-negotiable for you that like like groceries and basic things that you need to live like groceries and rent and utilities and whatever else is a necessity for you other necessary expenses that I don't simile pay but that I was thinking of that you guys may want to include if you have to pay these things are student loans car or health insurance like I said Netflix Spotify a credit card if you pay a credit card a certain amount on that every month i luckily paid off all my credit cards last year and i am not really using credit cards anymore at this point in my life but that would have been something like my Amex would have been on there previously for my monthly expenses like however much i wanted to put towards that when i was paying it off i think i need to make a whole separate video on credit and credit cards because it is like a huge topic that i feel like not enough people talk about especially being young and getting a credit card what i was saying was you're gonna group your expenses into necessary monthly things that you pay every month and then those things that are a little bit unnecessarily and frivolous such as shopping or you know like get new makeup or taking your friend offer drinks so once you have all these things figured out like i said before you're gonna want to have one number that is your average monthly income and then another number that is your average monthly expenses and hopefully if you are trying to stick to a budget you would have your expenses be lower than your monthly income so there was extra money for a rainy day or for when you spend a little bit more going out one night or for maybe if your pet or yourself get sick or whatever the crap it is there's gonna be extra things that you have to buy that you're not factoring into your monthly budget so you hopefully are going to want to have a little bit of extra spending money but I know sometimes budgets are really tight and you might go over like your expense if your expenses are over your monthly income then that's where you're going to be getting into potentially debt and not being able to pay your bills correctly if your expenses are higher than your income you're gonna have to realize what that amount is on average and you're gonna have to realize how much more money you're gonna have to bring your income up to be to at least be equivalent if not like a little bit more then your expenses that's at least what I would do I would figure out how I can increase my income to cover my expenses or obviously like I said previously you can cut down your expenses now as for keeping on track with your budget because creating your budget is one thing and that's the easy part and sticking to your budget is gonna be the hard part especially if you haven't done something like this before if you've never tracked your spending so there are a couple ways that I would recommend that can easily help you the first is using an app that tracks your expenses for you now again this is really only going to work if you're not you if you're not primarily using cash if you're primarily using cash the only way to really track your expenses would be physically writing it down but writing that down if your job happens to be like maybe you work as a waitress or something and you get a lot of cash I would write it down if you're trying to track exactly how much you're spending but if not if you use a credit or a debit card or something like that's personally what I do then I would use an app such as mint or capital capital with a Q I haven't personally tried capital I use Mint but I know a lot of people love the Capital One and I'm pretty sure both of these apps are free in the app store and you link your bank accounts in your cards if you're gonna do this link everything I have my PayPal linked I have my acorns a bank with inked linked which is like my savings and investment that's how I save so link everything so you actually can go on an app and see how much money you have in all of your different accounts and how much money is being brought in and brought out of all your different accounts to all have capital and mint and acorns linked down below those are some of my favorites although like I said I haven't tried capital but I have heard that it's very helpful for budgeting another one that people like different than mint so I would just say try to find one that that you would like using I use like I said meant a lot for tracking my spending and then I use acorns for saving and investing money for the future so I use them for completely different things now like I said don't beat yourself up too much if you are having trouble sticking to your budget especially when you first get started it is really going to take some of doing this and you know if you mess up one month just try to be better the next month if you go over your budget one month just try to be under your budget as much as you can be at the next month you can always treat yourself to if you have been doing a good job and you have some extra money at the end of the month you can always treat yourself as a little hey you know this is gonna make me feel good and this is gonna make me this is what I can do and I stick to my budget I have a little bit of extra spending money for those things that are fun for me to buy all right guys now that's pretty much the basics for how to create a budget I definitely might do an entire girlboss guide video on how to save money and travel affordably and I would love to make a whole video with you guys sharing how to travel how to afford to travel I don't exactly know what the title would be comment down below if you do want to see a video on that just to know that any goal really is within reach even if it does take quite some time to achieve just the right mindset it's so crucial to so that's why I would encourage you guys if you missed the law of attraction how I say it's 10k video it might sound like BS to you if you are not familiar with the law of attraction but so many of you guys said that that video was really helpful you which I loved so that'll be linked down below as well as all the resources I talked about in this video and if you guys do want to I'm definitely planning a future video on credit because I couldn't literally talk about it for probably like hours I also would like to do a future video one of these on like how to travel affordably in all the different sights and tricks that I've found so I'm gonna go ahead and sign off and thank you guys so much for watching I really hope you enjoyed and I hope this was helpful and I will see you in my next girl bus guide video and just in whatever next video I have very fan thank you for watching and