I’m gonna be real with you… I am not that great at saving my money. I can’t help it… I’m just a girl! But, I’m also 21 years old and starting to enter into the “real world,” where finances and saving money become more important. And I don’t know about you, but the financial stress is real.
It can be especially hard to budget money during the summer. There’s nothing I love more than trying a new Starbucks drink or, of course, some good ol’ fashioned retail therapy. But, trying a new Starbucks drink turns to getting one every day, and retail therapy becomes an excuse to shop more.
Because I am going to be a senior in college this year, I want to make sure I have plenty of money budgeted for the school year. I don’t want to worry about not having enough money saved up to do certain things or go on trips. So, this summer I have truly made an effort to budget my income to last through the school year, while doing plenty of fun things, of course!
Social Media Is Your BFF.
Certain accounts on TikTok and resources on Her Campus have been especially beneficial to my budgeting this summer. When I heard Vivian Tu aka My Rich BFF speak at Her Conference 2023, I felt a lot more prepared and at ease for my budgeting.
There are other TikTok accounts that have been really helpful in my “set-up” for my budget this summer. Tori Dunlap, @herfirst100k on TikTok has been one of my favorite accounts to watch this summer. Dunlap gives amazing advice on how to budget and save your money and how to feel more secure in your finances. If you haven’t watched her videos, I would highly recommend checking them out!
Plan Ahead!
In my situation, I know I have two big trips that I want to go on. spring break and a post-grad trip with my friends. While both of those trips are 6+ months away, budgeting for them now will make booking the trips much less stressful.
I have set aside a certain budget for my spring break trip as well as my post-grad trip. And in full transparency, it’s a good amount of the money I’ve earned and am continuing to earn this summer. But, since I know that money has a place and is “in the vault” until I need to use it, I am aware of the budget I am working with this summer. So, basically, I’m pretending like the money saved up for those trips is not accessible to me until I need it to start booking flights, buying outfits all that fun stuff.
Don’t forget to save up for Future weekend plans.
This summer I’ve been pretty busy! I normally work 9-5 Monday-Thursday and 9-2 on Fridays (I love summer Fridays!). Then, I have my weekends! This summer, I am working completely remote. This has definitely saved me hundreds of dollars as I am not commuting anywhere or having more temptations to buy Sweetgreen every day.
With that being said, I still will do takeout about once a week when I am working from home. Other than that, I really try to budget my money during the week so I can have fun on the weekends.
As for me, my weekends normally consist of me going out to get dinner + drinks, a night out in Boston, or a weekend getaway. I would say that I spend anywhere from $70-$150 per weekend. Of course, this is a good amount of money, but I know that I have enough money set aside for my senior year and trips, so I feel OK spending this amount.
Of course, everybody’s financial situation is different and summer plans are different, but these tips have been super helpful to me and allow me to still have fun and do eventful things during the summer — while making sure I’m (extra) financially stable for the school year.