Overview


Here's the deal: as much as we all wish we had an unlimited supply of money, that is just not going to happen. You probably have money of some kind, either from an after-school job, allowance, a blackmailing gig, or some combination of the three. Whatever it is, you get money from somewhere (yay) but unfortunately it isn't from a bottomless pit (boo). A budget will help you figure out how to allocate the money you DO have to get the most of it. AKA, pay for gas in your car and get the cool new gadget you've been eyeing.

You set a budget based on your income and your costs. How much do you make each month? Start with that, and decide where to allocate it all. Now, what do you HAVE to spend money on? These are things like car insurance, gas, phone bills, stuff like that that you gotta pay or something bad is going to happen (like late fees or a turned off phone. Ouch). Then you figure out the things you WANT to spend money on, like clothes, pizza nights out with your friends, the new PlayStation game that just came out. And don't forget to put away money for savings. It sounds super lame and like there is no way you'll have enough cash for everything you want. But trust me, it's worth it. We'll show you how to make your own budget soon.

Budgeting is one of the greatest skills you can develop to build wealth and financial success. This is different than just being rich. Rich people have a lot of money and you can see it. But once they spend it on the fanciest cars, cool clothes, and the most Instagrammable foods, it's gone. Being wealthy means having enough money in the bank to pay for what you want, an emergency fund, and savings that all afford you freedom farther down the line. It can be hard to picture what that looks like, but we'll get into that later. Just remember, sticking to a budget can help you get that money in the bank for the necessary stuff and for the super fun stuff. Don't forget, wealthy rich.

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