21, high salary & expenses, very little debts at all. How to better budget??

Hey. Don't worry about the people being assholes in the comments. Some of the people here tend to be quick to judge.

It's a good thing you took a step back and realized that you need to make a change. I'm also young and learning how to properly budget with a higher-than-average. I'm 22 and making a little less than you. It's awesome to have enough disposable income to buy and do cool things, but it's also really easy to get caught up losing track of how much you're spending.

You've already been told this a bunch here, but you need to figure out where the money has been going. Try to use Mint.com or an Excel spreadsheet and take a real look at every dollar you've spent in the last couple months. If you use a lot of cash, it'll be hard to know where it all went, but anything you used debit/credit for will be easy to track.

Then, lay some ground rules for yourself. You want to save 50% of your income. That's fantastic! In order to do that, you need to live like someone making $44k, not like someone making $88k.

An easy way to save money is to make it automatic. Set up a 401(k) through your company if they offer one. Maybe start with 10, 15, or maybe 20% of each paycheck going straight into it. You can't touch that money. Out of sight, out of mind.

If the 401(k) options aren't great, just take a chunk out of each paycheck and put it into your savings account. If your paycheck's bottom line says $3000, as soon as it hits your bank account, transfer $1000 or $1500 of it into savings, and don't touch it. Don't look at it. Pretend it isn't even there.

A few tips...

  • Pay off your credit card bill in full every month

  • Call Comcast. If you really do only use it for internet, cancel the cable portion of it. I just did the same thing. All I have is internet access. I use Netflix/Hulu to watch TV.

  • Learn to cook. This is a great skill to have. It reduces costs, it is usually a lot healthier, and you can have just as much fun with your friends throwing a dinner party instead of going out to an expensive restaurant. City life is fantastic and very fun, but you just have to be aware of the costs. Only go out for a big dinner/drinks thing once a week, maybe.

  • Look into Republic Wireless. Much cheaper cell phone plans, and no contract.

  • Tollway fines suck. And I get it. Shit happens. Just don't let it happen ever again.

  • When your girlfriend suggests "some dumb idea" to go out or do something expensive, call her out on it. Don't be a dick, of course. Just question her perceived "need" to do these things. She's gotten used to you paying for everything. Try pushing back on a few things here and there, and hopefully that will help.

  • Over the next month or so, if you really stick to tracking every dollar you spend, you'll realize how frivolous a lot of the stuff is. You'll learn pretty quickly over time what stuff is really worth it and makes you happy vs. what's convenient or habitual but not really valuable.

/r/personalfinance Thread