If you read yesterday's post, you'll know that I'm starting to save up some money and stop spending so much on frivolous items. We're on day 4 and so far, so good!
I've always had problems saving money, actually putting money away for a rainy day. Whenever I have a dollar in my pocket, I spend it. I've been like that my entire life but as I've gotten older, I've of course learned the importance of savings.
Also, as I've gotten older, I've learned about the dread of bills and student loans. Because of all the things I need to pay monthly, I knew I needed to get on track. I'm of course a big organizer and planner and I like knowing what is going to happen before it does.
I knew I needed a neat and organized way to know how much money I was spending on a daily basis as well as what bills were upcoming. I've done pretty good so far with just a physical planner and my bank account app on my iPhone but I knew there were different ways.
I wanted to get good at budgeting and keeping a budget and being a responsible adult. I discovered Mint a year or two ago but I wasn't mature enough or smart enough or ready to use it. I started using it at the end of September and I think it's really helped.
Mint is a website/app that helps with budgeting, paying bills, your credit score, property investments, etc. Basically what I do is I have budgets created for all the things I spend my money on each month. I have all the budgets set a little above what my actual budget is just so I don't go over too many times.
These are the budgets I have laid out:
Bills & Utilities: $350
Food & Dining: $100
Coffe Shops: $60
I have Mint hooked up to all my bank accounts (checking & savings), my student loan accounts, and my credit cards. It takes all of these into account and every time I make a charge, it categorizes the charge into the appropriate budget.
It does everything automatically which is half the battle.
The other part of Mint I really love? Bill reminders and alerts. Every time I have a bill coming up, Mint lets me know that it's approaching; and every time I'm charged something a little extra (like credit card interest), it alerts me of that too.
Mint also provides your credit score which is super handy for keeping things on track and it provides you with ways to help save. Mint has a lot of information in every nook and cranny--so much that it's overwhelming. I definitely don't use all the resources that Mint provides, just the basic uses. As I get older, as I make more money, I'm sure I will start to use everything else Mint has to offer.
A very convenient part of Mint is the iPhone app that they have. It's set up just like the website but in the palm of your hand.
That is a brief overview of Mint but if you want anything more in depth or have any questions, ask away and I'll be happy to answer!
Do you like these types of posts? Non beauty, more adulthood type of posts? I think I really like them so I may be doing more of them in the future!
What is your favorite way to track your spending?