The Shoe Box Budget

As a business admin. major I thought why not go to a session about budgeting and handling money. Its not only good to know because of my major but it’s just good to know as an important skill.

Save the receipts

Saving receipts not only comes in handy wheb you clearly need to return something to store but it helps when you’re starting to keep track of how much your spending within a month.

When it comes to statements such as store cards, it’s better to pay more money than the minimum it gives you.

Check where your money is going to. It could be going to

  • Gas
  • Dog Expenses
  • Phone Bill
  • Groceries
  • Insurance
  • Entertainment i.e. Movies

Reduce spending

  • Set up a budget unique to you and your spending habits. Sure go to Pinterest and other blogs for inspiration but remember each budget is different.
  • Figure out how can you spend your money differently. Are you spending to much money on eating out? How can you spend that money more wisely.

Save money at home

2 liter bottles filled with dimes = $700

The speaker of this session told us how she and her son have a contest on who can fill up their two liters first. The one who fills them up first gets to take the other person’s money as well and ends up with $1400.

Shoe box budget

What you need:

  • 1 Shoe Box
  • 1 notepad
  • Pen

What to do:

  • Keep receipts and extra cash in the box
  • Write down the purchases on a note pad

Check out this YouTube Video I found about how to use the ShoeBox Budget.

Advertisements

One thought on “The Shoe Box Budget

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s