Dwindling Dining Dollars...

No, that is not me, but she has the same expression I do when I swipe my ActCard


I don't know about you, but at the beginning of every semester, I become quietly excited. I get a twinkle in my eye, a little pep in my step... i'm pretty jazzed. Why, do you ask? Only because the beginning of the semester means one thing: Dining Dollars.

Oh, how I love Dining Dollars. I use them everywhere - Buffalo Phil's, Domino's, all the convenience stores... I get to try so many things that I normally would shy away from with my regular money. Such as all the organic stuff we now have. And the pastries they serve at Starbucks. $3.50 is less of a pain when it dosen't come out of my pocket (although, in theory, it already did.) And - you can buy other things with it if you are in a place that sells them: toilet paper, detergent, hand sanitizer - you name it, i've bought it. Well apparently my raucous spending sprees have left me a little strapped, and we're not even through the semester - apparently my $300 has somehow disappeared, and now I have like, $70 Dining Dollars left.

Huh? What? How did this happen?

I personally believe it's because;
1 - I'm taken in by all of the different things to try;
2 - I've already paid for it, I might as well use it as I please; and
3 - I feel powerful swiping all willy - nilly.

I remember as a freshman I divided up the number of weeks that we had in a semester by $300 and came out with $18.75, I believe. I was going to stick to that budget, and did for about a week, until I ordered pizza one night, and realized, "Well, I broke my budget, and you only live once..." I was out by Columbus Day. And this semester, I probably won't make it past February.

Oh well... it's my last semester and my pickin's are slim, and ooh! I want to try that tofu - rice - salsa thing...



Wa

Financial New Year Resolution #3: The B Word

So now that you've been working on that Side Hustle and have started looking at building up your credit, it's time to put some of those extra dollars to the side. That's right, I'm talking about creating a budget and sticking to it.

Everytime you receive a paycheck or a monetary supplement, most of the time you are aware of where that money is going to go: gas, rent, groceries. And, with the little money you have left over, you usually put in your pocket to have as spending money. That is, unless the first place you head to is Target (where the air must be laced with crack or something, it's so addictive) or to your favorite restaurant, or to anywhere where your willpower is seriously diminished. Before you know it, your wallet is filled with numerous receipts and leaves you asking that age - old question: Where did all my money go?

Making a budget helps you to keep track of your spending, figure out how much money should be alloted for each activity in your life, and make you more aware of your regular purchases.

Here is a sample budget:

Let's say you make $500 a month. You also receive a monthly check of $100 from your parents, totaling $600 for the month. Your fixed (never changing) expenses are rent, gas and food. Your variable expenses could be utilities and your weekends out with friends.

Here is a good breakdown. Let's say this is the profile of a person who pays $250 in rent where utilities are included:

Rent - $250
Gas - $60
Food - $60
Car Insurance - $50
Entertainment- $50
Internet - $30
Cell Phone - $70


This budget totals to $570, with $30 left over for spending money.

If you wanted to cut costs, you could break down a "budget in a budget" and figure out what purchases are not necessary. For instance, breaking down your grocery budget and analyzing your receipts. Hey, how did that People magazine get on there?

When making a budget, make sure to always pay yourself first, plan for extra (if possible), and stick to it.

For sample budgeting sheets and tips on how to budget, visit about.com - Financial Planning

If you prefer to do all of your budgeting online, check out Mint.com a personal finance website. You can upload accounts, track your spending, and learn more about personal finance.