Is managing your finances difficult as an adult?

Write down all your monthly expenses. Some will be variable, like electricity since it is usage based. But for variable ones, get a rough idea of what you expect it to be.

Open a second checking account.

Divide your monthly expenses by the number of times you get paid per month, and on every pay day move this money to your second checking account, also any money you'd like for saving (10% of my paycheck gets lumped in with my bill money). If you do get a debit card for this account, leave it in a drawer at home, only use it for bill pay. The idea is to make this money inaccessible when you are out and about.

The money that is left over form your check is your food/gas/fun money. You can bring that account down to $0.00 and your bills are still paid.

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I have a spreadsheet with columns. At the top of each column, it adds up all the lines in the column. Then at the very top is a cell that adds up the summations of all the columns. If this number matches the balance of my second account, then my numbers are accurate.

Each column would be like a different bill. My electric bill column, my rent column, my savings column, etc

/r/NoStupidQuestions Thread