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budgeting & personal finances in your 20s 💵| money management tips

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  • ℹ️ Description
I've been getting so many requests to start tackling the subject of money in my videos, so today I'm giving you an overview on how I organize and manage my personal finances, how I build budgets that can be done on paper or with excel, and some insights into how I create security while being self-employed. This video is an overview, so if you want me to dive in deeper into any subject addressed (or not yet mentioned), let me know! I want to do more of these because I know as a 20-something-year-old myself, money is a topic I'm very invested in.

(I hope this works so let me know if there’s issues haha)
(*affiliate links— more info below)

timestamps:
1:39 my job & background
2:13 how I organize my online banking
4:24 creating "automation" when income comes in to align with your financial goals
6:58 things to consider when you're self employed and/or have fluctuating income
7:53 methods to budgets (paper, excel)
12:41 how I generate budgets
13:05 "staying-on-budget" tips
15:43 a quick note about my relationship with credit cards

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*get $5 off your first order on Uber Eats with my code: eats-caitlind1456ue

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MUSIC...
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FTC: This video is not sponsored. Some links in the description box (marked with a *) are affiliate links...I earn a small commission on purchases made through those links...there's no cost to you, but the commission helps make it possible for me to continue creating videos for a living :)

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💬 Comments on the video
Author

“You can always afford to be bored” sad but so true 😂😂😂

Author — Bulletproof Doodles

Author

I use a lot of cash, if I don’t physically have it on me, I feel like I can sometimes spend more than I should, so I like to limit myself and also making a budget. Budgets are great.

Author — Ashley Thompson

Author

My Financial Setup 2020
1. I use separate saving accounts for each savings goal (short, mid and long) and ensure they earn some interest.
2. For events and things I know, I will spend I have sinking funds and save a little every month towards that fund. For example yearly subscriptions
3. For my monthly budgeting, I use "The Budget By Paycheck Workbook" by The Budget Mom... It is the center and CORE of my entire plan. You should check out her YouTube channel. It will really help elevate the wonderful job you are doing with your Excel sheet
4. I use a combination of cash for variable spending and my checking account for fixed expenses.

Author — Victoria Chama

Author

Still being college, I’ve been so scared about going into the real world and dealing with adult things. And I’m also studying to go into a field that will have fluctuating income because I’ll be a freelancer. This is definitely so helpful!

Author — Emily Gocon

Author

I'd love to see more on excel and budgeting! Loved this video, I definitely just spent 30 minutes playing with your excel documents! I'm a freelancer, so figuring out budgeting with fluctuating income has been intimidating for me. Thanks so much 💕

Author — simfan1

Author

“You can always afford to be bored’😂😂 sad but true 😂 this was a super helpful video, lately I’m struggling with my money management 🤨 sometimes its just hard to stop spending, kinda treat yourself and than serious regrets later 😫 really liked your excel idea, going to use that one once I figured out the formulas ☺️ thanks for the video ❤️

Author — Lejanne

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Please make a video about excel! I also get so excited about fun formulas lol

Author — Isabella Kab

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Caitlin! I LOVE this! You have your head on straight and will be successful. You know (and practice) more budgeting and savings habits than most 40+ year olds. I would love for you to share more and totally geek out on Excel😊

Author — Tina Ducharme

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Wow! Can you make a part 2? This is amazing. I was just talking to my hubbs about this because we have 3 different bank accounts and it’s stressful and crazy

Author — Diana Ramirez

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Happy early Birthday! How did I know? Mine is the same day as yours, haha!

Author — Moonlight Kid

Author

When I had a job, I found that I was keeping a closer track on my spending and saving. I didn't really have a system in place aside from using a financial app that showed me how much I was spending and automatically put money into my savings. Since losing that job, I stopped paying attention to the finances because it was becoming something that stressed me out on a daily basis. It still is.

I really appreciate this video, it's been really helpful in reminding me the importance of financial health. That book is going straight to my wishlist ☺️

Author — Lily Caraballo

Author

Caitlin, this was a great video. Probably the most helpful, realistic budgeting video I've seen in my subscriptions yet. I'd LOVE to learn more about how you work everything into excel. If you could do a tutorial for us, that would be awesome!

Author — MusicalOne09

Author

I'm no longer in my 20s but this was a really thoughtful video, nicely done. I'm a big time money compartmentaliser too. Spending money always comes last. I do this more by feel but the spreadsheet you have is really clever. I also play mind tricks with myself by keeping a some extra reachable money in checking, e.g. I think of $400 as $0, if that makes sense. It creates a good buffer for unexpected expenses or occasional splurges without having to dip into savings.

Author — robotnic

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Please share more about Excel! I have no clue how to use it but feel like it could be a great budgeting thing for me. Do you recommend any videos that I could take to learn how to budget using Excel? Thank you.

Author — Kayleigh Gibson

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YAHS someone else gets excited over spreadsheets!

Author — Mel Barrera

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THIS WAS SO GREAT!! I would love more tips always. Wanting to pay off student loans ASAP

Author — paige keister

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Commenting before finishing the whole video. One tip for everyone: Compare and compete your electricity, insurance and phone/internet etc. companies often. Also, make sure to check your subscriptions on a regular basis. If you are paying for some service you don't even use, you might be as well flushing your money down the toilet every month. If you use netflix only during christmas holiday, get it only for december/january and then cancel it afterwards for the rest of the year. And so on :D

Author — jennahoo

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I’ll tell you all one thing: ‘You Need a Budget’!

Author — Annemiek de Vries

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Fantastic video!! More on budgeting and even tutorials on how to use excel for money management would be much appreciated😍

Author — B BP

Author

I write out my budget in a planner and I do a bi-weekly and then monthly check-in. But all of my spending is tracked in an excel spreadsheet

Author — B Elliot