+11 votes
by (230 points)
Hi, I’m one of those people that have been sitting around watching you all post about budgeting and being jealous and not doing anything about my finances.  I finally did it. I sat down and wrote it all out. Our debts. Our monthly bills. A monthly budget with 7 categories.  I just wanted to say hi and that I finally did it because I have a feeling I’ll be posting in this group quite a bit now.  Thanks for the inspiration! Any beginners tips? Two women in our 20s and a little guy due late February, if that info helps for tips.  
Hi, I’m one of those people that have been sitting around watching you all post about budgeting an

6 Answers

0 votes
by (150 points)
Hi! What helped me was going through my old statements for Nov 2019 and Dec 2019 and trying to categorize what I spent my money on. It was shocking to tally up how much I spent on eating out and coffee  I started in January and I feel so much better already! My advice is to keep those statements handy to compare to how in control you are now, write down goals, and take a day or two on deciding to buy non-essentials. I’m an impulse buyer and if I wait, I usually pass on whatever I felt I “needed”. Cash only really helps to stop the impulse spending as well! And having all the people on this group go support is definitely helpful! Good luck! ❤️
by (230 points)
@photocathode Thank you! That’s great advice!  
0 votes
by (410 points)
Because compounding interest, whenever possible (soon) start contributing monthly to a ROTH IRA. (Things I wish I had done earlier)
by (230 points)
@sklar7273 what is that?  
by (410 points)
@kronfeld here is a video on compounding interest. There are others but basically the younger you can start saving in an investment account (ROTH) the greater advantages to having a significant nest egg for retirement. Depending on your age even $50/month in a Roth could yield almost a million bucks tax deferred by the time y’all are ready to retire. Check it out with a financial advisor.  
https://youtu.be/i0ub12TKBBc
by (110 points)
@sklar7273 My parents set one up for a graduation gift for me. It’s amazing. Just be sure to pay the tax fee on investment so your not hit when you withdraw the money after retirement. ❤️
by (410 points)
You got this and this community of folks is great:)
by (410 points)
@counsel thats whats awesome about the ROTH it is post tax.  
0 votes
by (150 points)
Congratulations! Beginner's tip- Allow yourself grace if/when you fall off your budget. Life happens. You got this!  
0 votes
by (150 points)
Welcome to the group . I've been budgeting for years however just tuned into this group. Good luck with your new arrival and your budgeting x
0 votes
by (150 points)
Tips on baby gear- buy used since it has a short shelf life. Start shopping for it now if you have specific pieces in mind you want. I bought all new and recently started consigning in a high rent area and was surprised the lack of “designer” gear in store. Tips for staying on track- review your budget at least once a week if not twice a week. For me I was scared to look and was happily surprised i was under in my categories, but it’s better to be intentional and just know.  
0 votes
by (150 points)
Start buying diapers of all sizes now.  
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