14 answers
Madison
Student
Highland, Indiana
3
Questions
Updated
5308 views
Budget plans ?
Im 17 wondering how to budget or save money better. I do pay my car insurance and gas but need to save money to move out.
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14 answers
Paul Goetzinger MPA
Academic and Career Advisor | Freelance Writer | TRIO Program Director
1061
Answers
Tacoma, Washington
Updated
Paul’s Answer
I always recommend that individuals attempt the money philosophy called the "90 and 10 rule" for saving money, which involves to two financial strategies. One which is meant for for budgeting and the other one for investing
90/10 Budgeting Rule is a simple guide for managing your income and spending. It involves allocating your after-tax income as follows:
90% of what you make is to be used for living expenses. This portion covers all of your monthly spending, such as bills, groceries, housing, transportation, and other personal living costs.
The other 10% you earn is used for savings and investment. You automatically have this amount taken out by an employer, which can then be deposited into a savings account, IRA, savings portfolio. and other investments, which can be used towards building your wealth, which can include emergency funds, or other long-term savings goals.
This rule is a variation of more traditional budgeting method, but it is often more realistic for people with high living expenses or lower incomes. A key benefit is that it encourages you to "pay yourself first" by automating your savings.
90/10 Budgeting Rule is a simple guide for managing your income and spending. It involves allocating your after-tax income as follows:
90% of what you make is to be used for living expenses. This portion covers all of your monthly spending, such as bills, groceries, housing, transportation, and other personal living costs.
The other 10% you earn is used for savings and investment. You automatically have this amount taken out by an employer, which can then be deposited into a savings account, IRA, savings portfolio. and other investments, which can be used towards building your wealth, which can include emergency funds, or other long-term savings goals.
This rule is a variation of more traditional budgeting method, but it is often more realistic for people with high living expenses or lower incomes. A key benefit is that it encourages you to "pay yourself first" by automating your savings.
Steward "Tony" Pacheco
Minister, USMC Vet, John C. Maxwell Cert. Coach, Trainer, Speaker, Teacher, Straight Shooter
193
Answers
Kyle, Texas
Updated
Steward "Tony"’s Answer
Move Out From Where? What questions have you already answered for yourself? Is your move a choice or was that decision made for you? How are you making money now? Is your car paid off already and if not, who’s paying the note? If paying Ins & gas is all you have money for only two things may help if you are too anxious to make a sincere commitment to all the great advice I have read above.
Join a military branch of service or the peace corps where you can travel and help people in much worse situations than you. Both will help you appreciate what you have already.
List everything you need to buy, rent, supply, eat, wear, etc to be comfortable with your life. Add the total of those expenses up by week, by month, by year because that’s your life from now on once your foot is out the door.
Make moving out comfortably your goal, because just moving out takes a lot of planning.
I joined the United States Marine Corps at 17 myself but those were different times, yet I retired successfully from corporate America based on the skills I learned then and though not every decision I made was a smart one the dedication I learned in the Marines helped me through the toughest of times.
So If you know how much you need for the “basics” you can make an educated
estimation of what to put aside in savings to relocate your life with ease and not with turmoil. That’s the test that will make your road paved or rocky.
Stay away from credit cards which are strategically pushed to college aged kids, locking them into a dept slavery system which will compound in payments that will affect the move you so desperately want harmony in.
The harmony required for such a dramatic & adventuristic change must be deep within you, but it will serve you better as a thinking & planning person.
May Guardian Angels be with you! God bless you!
Tony P.
Join a military branch of service or the peace corps where you can travel and help people in much worse situations than you. Both will help you appreciate what you have already.
List everything you need to buy, rent, supply, eat, wear, etc to be comfortable with your life. Add the total of those expenses up by week, by month, by year because that’s your life from now on once your foot is out the door.
Make moving out comfortably your goal, because just moving out takes a lot of planning.
I joined the United States Marine Corps at 17 myself but those were different times, yet I retired successfully from corporate America based on the skills I learned then and though not every decision I made was a smart one the dedication I learned in the Marines helped me through the toughest of times.
So If you know how much you need for the “basics” you can make an educated
estimation of what to put aside in savings to relocate your life with ease and not with turmoil. That’s the test that will make your road paved or rocky.
Stay away from credit cards which are strategically pushed to college aged kids, locking them into a dept slavery system which will compound in payments that will affect the move you so desperately want harmony in.
The harmony required for such a dramatic & adventuristic change must be deep within you, but it will serve you better as a thinking & planning person.
May Guardian Angels be with you! God bless you!
Tony P.
I live with my dad i graduated highschool a year early at 17 and the military isnt really an option for me.
Madison
Kim Igleheart
Career Counselor | Police Officer
1831
Answers
San Antonio, Texas
Updated
Kim’s Answer
Madison,
When one finds oneself in need of more money, they can make more or spend less. If the goal is to make more, that is to either make more per hour or work more hours. You don't want to find yourself in the situation where you are working all the overtime that's available and you never have a day off. Work-life balance is important!
Tony asked an important question. Why is it necessary to move out? We all were where you are now, so that part "we get it." But, if you are able to continue living rent-free (or inexpensive) after finishing HS, give it some thought. Because once the "games" of HS are over, the ages of 18-22/25 are some of the best years of your life - before taking on a professional level career position, before becoming attached or having children, before owning a home - I strongly encourage you, if at all possible, to transition a little more slowly into adulthood. You will have many, many years as an adult!
Now, about budgeting. I put savings away somehow where I forget about it. It should be in a separate account. or accounts. Sometimes it helps if you are saving for a particular goal. I know right now it seems like you will never get there, but, after a while, it does start to add up. You may also want to look at High Yield Savings accounts - someplace where your money can get a higher interest rate but you can still get to it if you need it.
Now then, about the military - I second that suggestion! It's a good way to get a solid start to your life as an adult.
I wish you the best!
Kim
When one finds oneself in need of more money, they can make more or spend less. If the goal is to make more, that is to either make more per hour or work more hours. You don't want to find yourself in the situation where you are working all the overtime that's available and you never have a day off. Work-life balance is important!
Tony asked an important question. Why is it necessary to move out? We all were where you are now, so that part "we get it." But, if you are able to continue living rent-free (or inexpensive) after finishing HS, give it some thought. Because once the "games" of HS are over, the ages of 18-22/25 are some of the best years of your life - before taking on a professional level career position, before becoming attached or having children, before owning a home - I strongly encourage you, if at all possible, to transition a little more slowly into adulthood. You will have many, many years as an adult!
Now, about budgeting. I put savings away somehow where I forget about it. It should be in a separate account. or accounts. Sometimes it helps if you are saving for a particular goal. I know right now it seems like you will never get there, but, after a while, it does start to add up. You may also want to look at High Yield Savings accounts - someplace where your money can get a higher interest rate but you can still get to it if you need it.
Now then, about the military - I second that suggestion! It's a good way to get a solid start to your life as an adult.
I wish you the best!
Kim
I already graduated a year early at 17. I really dont like the option of the military. And I live with my dad but need/want to be out soon.
Madison
Rebecca Tang
Banking
2437
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to know that you would like to learn more on financial planning.
Firstly, you need to differentiate 'what you need' and 'what you want'.
'What you need' - Something vital to you, e.g. school fees, meals, gas, etc.
'What you want' - Something nice to have, e.g. Jewelry, Trendy Clothes / Shoes, etc.
You can then divide your income into 3 portions :
1. Expenses on what you need
2. Savings
3. You can use the remaining portion for investment or buy something
Hope this helps! Good Luck!
May Almighty God bless you!
Firstly, you need to differentiate 'what you need' and 'what you want'.
'What you need' - Something vital to you, e.g. school fees, meals, gas, etc.
'What you want' - Something nice to have, e.g. Jewelry, Trendy Clothes / Shoes, etc.
You can then divide your income into 3 portions :
1. Expenses on what you need
2. Savings
3. You can use the remaining portion for investment or buy something
Hope this helps! Good Luck!
May Almighty God bless you!
Mi Hausvater
Program Management and Learning/Development
2
Answers
Snohomish, Washington
Updated
Mi’s Answer
I think there are many ways to change up how you save, it all depends on how you think and what might work best for you - are you someone that likes to manage it all on your own, do you like things to automated so you don't have to think about or do you like physical representation of what you are working towards. Depending on your response, there are various tools or very simple processes that can help you save more. If you like things automated, you could simply setup an automatic transfer that happens each month/week to move funds to a set savings account. If you like physical representation, you may consider pulling out the funds and placing the cash in a safe spot that allows you to see how much you are saving. I know some people like to simplify how they save by just setting aside a set amount each week or from each paycheck.
As you incur more expenses, something that will help tremendously is tracking how you are using your funds. Tracking expenses for a month or two based on current habits will help you see where your current spending tendencies lie. With this in hand, you can make small changes - for example, if in a month, I see that I'm spending alot of my money on clothes/accessories, next month, I might take on a goal to cut that spending in half. By understanding where you spend your money now, you can start planning for future items - if I know that I have to buy books at the beginning of a semester or know that I have prom coming up, I can adjust my spending in some areas by small amounts to save up what I need. You can also start to categorize each item under things like bills, school, health, car, pets, etc... so you can start to build a more wholistic picture of your spending. You'd be surprised what you can find out just by writing it all down - $10/$20 here throughout the month turns into alot fairly quickly and can often be on things you don't even consider fully worth that amount.
As you incur more expenses, something that will help tremendously is tracking how you are using your funds. Tracking expenses for a month or two based on current habits will help you see where your current spending tendencies lie. With this in hand, you can make small changes - for example, if in a month, I see that I'm spending alot of my money on clothes/accessories, next month, I might take on a goal to cut that spending in half. By understanding where you spend your money now, you can start planning for future items - if I know that I have to buy books at the beginning of a semester or know that I have prom coming up, I can adjust my spending in some areas by small amounts to save up what I need. You can also start to categorize each item under things like bills, school, health, car, pets, etc... so you can start to build a more wholistic picture of your spending. You'd be surprised what you can find out just by writing it all down - $10/$20 here throughout the month turns into alot fairly quickly and can often be on things you don't even consider fully worth that amount.
Imran Aslam
Sales Engineer
2
Answers
Hamilton, Ontario, Canada
Updated
Imran’s Answer
I began by making an Excel file to track all my expenses. From there, I figured out how much I need to earn to cover my costs, enjoy some fun activities, and save for the future. It's great to aim for saving 50%, keep expenses around 20-30%, and use the rest for fun.
Alexis Gonzalez
Customer Success Manager
2
Answers
Woodbridge Township, New Jersey
Updated
Alexis’s Answer
Hi! Great question. I also would say not to fall into the credit card debt world too early. I recommend opening a high-yield savings account. Put over half of your earnings into the account and only keep your bill money and a low amount of spending cash in the checking account.
From there, you limit yourself to not touch the savings account and budget a maximum to spend each month!
From there, you limit yourself to not touch the savings account and budget a maximum to spend each month!
Jason Lee
Consulting
33
Answers
New York, New York
Updated
Jason’s Answer
Hi Madison,
If you want to save up to move out, the first step is to know where your money is going. Write down what you earn and what you spend on things like gas, car insurance, food, and fun. Even a simple notes app or spreadsheet works. A good rule of thumb is the 50/30/20 approach — about half your money goes to needs, around a third to wants, and at least 20% straight into savings.
When it comes to credit, the biggest rule is simple: don’t spend what you can’t pay back right away. If you get a credit card, only use it for small, regular things (like gas) and pay it off on time. That builds credit without debt. Skip unnecessary subscriptions or “buy now, pay later” deals — they add up fast.
Finally, make saving automatic. Set up a transfer so part of your paycheck goes straight into savings before you even see it. Start with a high-yield savings account to earn extra interest. Once you’ve built a cushion (2–3 months of expenses), you can think about automatic investing in safe options like index funds. These little habits now will make moving out way easier when the time comes.
If you want to save up to move out, the first step is to know where your money is going. Write down what you earn and what you spend on things like gas, car insurance, food, and fun. Even a simple notes app or spreadsheet works. A good rule of thumb is the 50/30/20 approach — about half your money goes to needs, around a third to wants, and at least 20% straight into savings.
When it comes to credit, the biggest rule is simple: don’t spend what you can’t pay back right away. If you get a credit card, only use it for small, regular things (like gas) and pay it off on time. That builds credit without debt. Skip unnecessary subscriptions or “buy now, pay later” deals — they add up fast.
Finally, make saving automatic. Set up a transfer so part of your paycheck goes straight into savings before you even see it. Start with a high-yield savings account to earn extra interest. Once you’ve built a cushion (2–3 months of expenses), you can think about automatic investing in safe options like index funds. These little habits now will make moving out way easier when the time comes.
Devin Tran
Accounting
3
Answers
Fountain Valley, California
Updated
Devin’s Answer
Hello Madison,
It is great how you feel encouraged to start saving money! I am also a college student who has bills to pay, while trying to hang out with my friends whenever I can. The best advice I have is to most definitely create a budget planner: excel, journal, etc. There should be a lot of free budgeting templates to use online to help visually see where all your money is going to. I personally divide each of my paychecks into percentages. For example, I use the 70/20/10 method. This means that using my monthly paychecks, I divide 70% of it to my needs: rent, car, groceries, health. I would then use 20% of it to invest: mutual funds, crypto, blue-chip stocks. Then the last 10%, I would put it into my wants: concerts, hanging out, etc. Obviously, you can change up how you would like to divide up your paycheck, but I would most definitely recommend trying to start listing out your expenses and revenue.
Devin Tran
It is great how you feel encouraged to start saving money! I am also a college student who has bills to pay, while trying to hang out with my friends whenever I can. The best advice I have is to most definitely create a budget planner: excel, journal, etc. There should be a lot of free budgeting templates to use online to help visually see where all your money is going to. I personally divide each of my paychecks into percentages. For example, I use the 70/20/10 method. This means that using my monthly paychecks, I divide 70% of it to my needs: rent, car, groceries, health. I would then use 20% of it to invest: mutual funds, crypto, blue-chip stocks. Then the last 10%, I would put it into my wants: concerts, hanging out, etc. Obviously, you can change up how you would like to divide up your paycheck, but I would most definitely recommend trying to start listing out your expenses and revenue.
Devin Tran
Ranhee Lee
Financial Controller
1
Answer
Sydney, New South Wales, Australia
Updated
Ranhee’s Answer
It's wonderful to see that you're setting financial goals at this stage of your life! I remember doing the same, and I'd love to share some tips that helped me save effectively.
First, it's important to set up a budget. This means understanding your income and expenses, then allocating your funds accordingly. I used to set aside 20% of my income for savings and use the remaining 80% for living expenses. I made it a point to revisit my budget every six months to make adjustments as needed, especially for emergencies like car repairs.
Another strategy that worked wonders for me was setting up automatic salary deposits. I arranged for 20% of my income to be automatically transferred to a separate bank account dedicated to savings. This way, I kept my savings away from my daily expenditure account, making it easier to stick to my savings plan.
I hope you find these tips helpful as you work towards your financial goals. Feel free to reach out if you have any questions or need further advice.
First, it's important to set up a budget. This means understanding your income and expenses, then allocating your funds accordingly. I used to set aside 20% of my income for savings and use the remaining 80% for living expenses. I made it a point to revisit my budget every six months to make adjustments as needed, especially for emergencies like car repairs.
Another strategy that worked wonders for me was setting up automatic salary deposits. I arranged for 20% of my income to be automatically transferred to a separate bank account dedicated to savings. This way, I kept my savings away from my daily expenditure account, making it easier to stick to my savings plan.
I hope you find these tips helpful as you work towards your financial goals. Feel free to reach out if you have any questions or need further advice.
David Seides
Finance
29
Answers
Alpharetta, Georgia
Updated
David’s Answer
Start by tracking all your expenses for a month. Write down everything you spend and sort it into categories like food, insurance, or clothing. Aim for 5-10 categories. After a few months, you'll see where your money goes. Next, create a budget, which is a plan for spending your money. Include amounts for saving toward goals like moving out or taking a trip. Don't forget to save for the future, like retirement.
Katie O'Flaherty
Senior Recruiter
30
Answers
Simsbury, Connecticut
Updated
Katie’s Answer
It's great that you're planning your budget ahead of time! Make sure your spending doesn't exceed your monthly income to avoid financial trouble. Here are a few tips:
When you have your own place, try to keep rent or mortgage costs to no more than one-third of your income.
Look for sales or discounts when shopping and use digital coupons to save money.
Plan your weekly meals to reduce food waste and avoid impulsive spending on food delivery services.
When you have your own place, try to keep rent or mortgage costs to no more than one-third of your income.
Look for sales or discounts when shopping and use digital coupons to save money.
Plan your weekly meals to reduce food waste and avoid impulsive spending on food delivery services.
Wong Loke Yuen
Head of Programme cum Senior Lecturer
645
Answers
Johor Bahru, Johor, Malaysia
Updated
Wong’s Answer
You need to create a clear plan that helps you see where your money is going and where you can make changes. The first step is to track your income and expenses. For one month, write down every single thing you buy. This includes your car insurance and gas, of course, but also things like a movie ticket or new shirt. Don't worry about whether it's good or bad spending; just focus on writing everything down. This will give you a clear picture of your habits.
Once you know where your money goes, you can make a plan for it. A simple way to do this is to divide your money into three parts. Think of it like this: one part for things you need, one part for things you want, and one part for saving. Your needs are things you absolutely must pay for, like your car insurance and gas. Your wants are things you like to buy but don't need, like video games or eating at a restaurant. Your saving part is the money you're setting aside for your big goal of moving out.
Also, look at the list you made of your "wants" and see where you can spend less. For example, if you spend a lot on eating out, try making more meals at home. Every little bit you save helps you reach your goal.
Once you know where your money goes, you can make a plan for it. A simple way to do this is to divide your money into three parts. Think of it like this: one part for things you need, one part for things you want, and one part for saving. Your needs are things you absolutely must pay for, like your car insurance and gas. Your wants are things you like to buy but don't need, like video games or eating at a restaurant. Your saving part is the money you're setting aside for your big goal of moving out.
Also, look at the list you made of your "wants" and see where you can spend less. For example, if you spend a lot on eating out, try making more meals at home. Every little bit you save helps you reach your goal.
James Constantine Frangos
SOFTWARE ENGINEER SINCE 1972; NUTRITIONIST SINCE 1976.
7094
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Good Day Madison!
Tell people close to you about your new strategy to save! Tell them why you are going to save.
Flick the gestalt switch! Turn compulsive spending into compulsive saving! SEE https://www.everydaycheapskate.com/stop-compulsive-shopping/ ALSO https://www.allencarr.com/how-to-get-out-of-debt/compulsive-shopping/ ALSO https://mindboxpsychology.com.au/adult-psychology/treatment-for-compulsive-shopping/ ALSO https://abcfinance.co.uk/blog/how-to-manage-compulsive-spending-shopping-addiction/
Of course you can go too far: SEE https://www.bustle.com/p/what-is-compulsive-saving-7-signs-your-frugality-is-obsessive-2780007
ALSO https://www.msn.com/en-au/money/smallbusiness/self-made-millionaire-who-makes-14-000-a-month-in-passive-income-my-best-advice-for-starting-a-successful-side-hustle/ar-AA1GXkkr?
ALSO https://medium.com/@yashbatra11111/the-47-line-code-that-made-one-developer-2-million-from-ai-7269383d65db
ALSO https://www.msn.com/en-au/money/personalfinance/30-best-side-hustles-for-college-students-in-2025/ar-AA1EUIC8?
Draw up a proposed timetable for saving. An example would be $1,000 new year 2026.
________________________________________________________________________________________
GOD BLESS!
JCF
Tell people close to you about your new strategy to save! Tell them why you are going to save.
Flick the gestalt switch! Turn compulsive spending into compulsive saving! SEE https://www.everydaycheapskate.com/stop-compulsive-shopping/ ALSO https://www.allencarr.com/how-to-get-out-of-debt/compulsive-shopping/ ALSO https://mindboxpsychology.com.au/adult-psychology/treatment-for-compulsive-shopping/ ALSO https://abcfinance.co.uk/blog/how-to-manage-compulsive-spending-shopping-addiction/
Of course you can go too far: SEE https://www.bustle.com/p/what-is-compulsive-saving-7-signs-your-frugality-is-obsessive-2780007
ALSO https://www.msn.com/en-au/money/smallbusiness/self-made-millionaire-who-makes-14-000-a-month-in-passive-income-my-best-advice-for-starting-a-successful-side-hustle/ar-AA1GXkkr?
ALSO https://medium.com/@yashbatra11111/the-47-line-code-that-made-one-developer-2-million-from-ai-7269383d65db
ALSO https://www.msn.com/en-au/money/personalfinance/30-best-side-hustles-for-college-students-in-2025/ar-AA1EUIC8?
Draw up a proposed timetable for saving. An example would be $1,000 new year 2026.
________________________________________________________________________________________
GOD BLESS!
JCF
I appreciate this! As far as making more money, what should I do?
Madison
Updated Post [NETWORKING AND NUTRITION]
James Constantine Frangos
Remote office administration, databases, documents, searches, consulting, internships, tutoring. Graduate to business consulting. Learn to code, probably in Python. You should not have to pay for that! Put 7 irons in the fire!
These are the sorts of jobs suitable for you as an emergency:-
1. Pet Sitter
2. Babysitter
3. YouTube Creator
4. House Cleaner
5. Gardener
6. Fence Painter
7. Video Game Streamer
8. Garage Cleaner
9. Tutor
10. Hobby Coach
11. Yard Sale Helper
12. Junior Camp Counselor
13. Model
14. Tech Support
15. Elderly Helper
16. Artist
17. Bike or Skateboard Mechanic
18. Car Washer
19. Organizer
20. Voice Actor
21. Produce Picker
22. Farmhand
23. Mowing
24. Food delivery
25. Selling lemonade.
James Constantine Frangos