As a young adult, budgeting can be a difficult task. Different financial advice that can come from a plethora of avenues can add to the confusion. When you begin your budget, sometimes simple is better and less is more. Here are some simple tips to budget.


  1. Utilize Cash. It can be significantly easier to budget when you can see the money you’re spending. Try taking out cash and putting the cash into different labeled envelops to set how much money you have into perspective. Have envelopes for fixed expenses like rent and bills, in addition to fluctuation envelopes like shopping or groceries. If you go on a trip or a vacation, try to rely on your cash envelopes instead of charging everything to a card. 
  2. Get a roommate or live at home. Saving money in the young adult era of your life is critical. One easy way to save money is to cut down on your living expenses. You can cut down on your living expenses by having a roommate (or roommates) to help split the cost. Don’t be afraid to move home if you’re having difficulty finding a roommate. Living at home is as much a sign of your financial wisdom than a commentary on your independence. 
  3. Skip eating out. While eating out is both convenient and an easy way to socialize, it’s not so easy on the wallet. Try to be intentional about how much you cook at home and how much you eat out. Host from your home instead of going out to dinner to minimize the cost. Try packing your lunch when you go to work, it minimizes the temptation to shop for food over a lunch break. 
  4. Take public transportation. Although taking an uber around town can seem like a more appealing option, it does add up over time. Consider taking public transit to eliminate some costs and help your overall daily budget.
  5. Know what you owe. Be aware of how much owe and who you owe that money to. Although it can be daunting, add up your loans, credit card bills, and the different debt you’ve acquired. Budget around the money you owe and try to keep a handle on how much money you owe. The lower that number is, the more freedom you have to make your budget flexible. 


Budgeting, as a young adult, can seem like an impossible project. With a few simple steps, you can make a big difference in how you handle money.