Two weeks ago Friday, I attended a CP&R module on Basic Budgeting. During the session, we heard from two Scripps alums about their experiences budgeting post-college and in the professional world. I have to confess that I had a mixed response to what I learned: the side of me that likes to be organized was intrigued with budgeting, yet the side of me that likes to do new and exciting things found it pretty tedious.
The timing of the session was perfect for me, since I will need to budget carefully on my upcoming spring break trip and during my summer internship. While I am excited for both of these occasions, I worry that it is easy to spend more money than I would like to while on vacation and living in a big city. The budgeting session really helped me to develop a plan for and feel in control of the money I will be spending. At the session, the two Scripps alums shared online resources that they use to monitor their personal budget. I have decided to implement two of the resources into my budgeting routine:
Mint is an app created by the software company Intuit that allows you to create a budget, track and pay bills, receive a breakdown of your spending categories, and many more helpful features. It is almost overwhelming how much the app can do for you. I have been playing around on the app for the past few days and have gained a new awareness of my spending patterns. Through the app, I learned that I spend the majority of my money throughout each month on food. Now that I know that I spend most of my money on food, I can learn to budget effectively and responsibly and make more informed decisions about going out for meals versus eating on campus.
I find that between Venmo payments and spur-of-the-moment Amazon purchases, it is very easy to lose track of where I spend my money. To help remember where I’m spending my money and on what, I’ve created a Google Sheet of my monthly spending. I feel much more at ease knowing exactly how much I’m spending each month and understand that I can truly be in control of what I’m spending.
While budgeting may not seem necessary for most Claremont College students, since most of us don’t have to pay monthly fees for rent or purchase groceries, it is an amazing habit to start early on. I will have more practice budgeting over spring break and this summer, and I am getting proactive about preparing myself for the costs of these occasions. Although I still have a lot to learn about budgeting, I hope to master the art of it before I graduate. I know that my future self will thank me.