Budgeting 101 for New Graduates: Getting Started

So, you got the diploma, you’ve thrown the cap, and now... you have to figure out how to afford life. If you thought finals were hard, just wait until you have to decide between paying rent or splurging on takeout every night. (Spoiler: rent wins, but let’s make room for some fun too!)

Step 1: Know Your Numbers

A budget starts with knowing exactly how much money is coming in (your income) and how much is going out (your expenses). Take an hour to sit down, check your bank accounts, and make a list:

• Income: Salary, side hustles, gifts, financial aid refunds

• Fixed Expenses: Rent, utilities, subscriptions

• Variable Expenses: Food, entertainment, random impulse buys at Target

Step 2: Find a Budgeting Method That Works for You

• Zero-Based Budgeting: Every dollar gets a job.

• 50/30/20 Rule: Simple and flexible.

• Cash Envelope System: Old-school, but great if you tend to overspend.

Find a system you actually want to stick to, because let’s be honest, if it’s too complicated, you won’t use it.

Step 3: Track Your Spending

Use an app, a spreadsheet, or a notebook to track your expenses. Awareness is key! Small leaks sink big ships, and $5 lattes add up fast.

Step 4: Adjust and Give Yourself Grace

Budgets aren’t about deprivation—they’re about intentional spending. If you mess up one month, adjust and move forward. No guilt, just growth.

A Warm Reminder

Your budget is a tool to help you, not a punishment. Give yourself some breathing room for fun, start small, and celebrate every win. Your future self will thank you for every dollar you save today.