Budget is no rocket science. If you can keep up with fashion, chances are you will understand it just fine. Stick to this simple rule - always have a custom-made budget to fit your needs. It’s like picking couture over pret, where everything is trimmed to suit your goals and priorities. So let’s take a pen and a notepad, and make a budget where you have room for shopping sprees and weekend getaways.
Measure It Up: Calculate All Your Expenses
Got your first paycheck and ready to step into the grown up world. Wait… Before you think of buying that expensive pair of jeans you are eyeing for a few months, make sure you have taken care of the following figures - calculate these expenses - rent, electricity bill, mobile bill, travel expense, education loan repayment, groceries, and internet. Don’t stop there. Add your weekend outings, shopping budget, and any other passion you want to indulge in, to this list. In short - calculate every type of expense that goes into maintaining your life and lifestyle. Try to limit it to 60-65% percent of your salary.