Dear Hope: I Need Money

No Money

Dear Hope,
I need money! I have a part-time job, but never seem to have money. My friends and I meet on Fridays for coffee and gossip, but I can never afford it. I usually have to borrow from one of them or not go. It’s so frustrating. I really don’t have bills so I don’t know where the money is going. I really want to hang out with my friends, I need help with my money.
– Broke

Dear Broke,
It’s great that you have a part-time job, but not so great that the money just disappears without you knowing where. Part of having a job and money is to learn responsibility. You need to know where the money goes.
Two things:
1. For one week, keep track of what you spend. This will help you see exactly where the money goes. Then you can decide if there are areas where you can cut back. For example if you buy a new shirt every week, you can try buying one every other week. That will give you extra money each week. If you know that you want something big, save up for it, instead of buying it right away.
2. You already know that every Friday you go out to meet your friends, so prepare for that. You probably know how much you spend each week, so take that out. As soon as you get your check, take that amount out (maybe plus a few extra dollars) and put it aside. When Friday comes, you will be ready. The money won’t be in your wallet the rest of the week and won’t get spent. The only thing you will have to think about is choosing a latte.

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