Struggling With My Personal Finances

Hey amorteurs,

I couldn't ignore the ugly truth:

• $4,000+ in credit card debt

• $11,000+ in car loans

And I only have $17 in savings.

The problem? I've been ignoring my personal finances for far too long.

It's been difficult because I've been juggling many things like writing, exercising, and school.

(All that talk about balancing many things at once, all for naught!)

And since school is my main focus, I haven't been working that much.

So my income has decreased.

Yet my lifestyle hasn't been compromised. If not that, I began spending more.

It was not looking good. The car I bought even broke down.

Why am I telling you this?

Firstly, vulnerability is the best fuel for content. It's also therapy.

I'm also writing this in case someone struggles with their finances.

Despite all I said, I have hope.

I wrote recently that I'm focusing on a single habit for the next 6 months.

This keystone habit? Budgeting.

Given that finances are about spending less than you make, budgeting is the no-brainer finance habit that'll give me momentum to make positive change.

It's easier than you think. I'm following the super simple 50/30/20 budget plan:

• 50% of your income goes to bills.

• 30% of your income goes to discretionary spending.

• 20% of your income goes to savings + debt.

That's it.

It's as easy as that. My 50% is going to my car + credit card debt, including some of the 20$.

And the 30% is being split throughout the days to account for food (my biggest expense category recently).

Sticking to a tiny, simple budget system won't solve it all. Hell, even in 6 months, I may still be struggling.

But you can take this first step with me. The tiny changes add up and compound.

Soon, in 6 months, budgeting will become more automatic.

And we'll become more confident.

If you want to apply this too, I recommend keeping a Notion page to organize this information, and track your streak.

That's all for today.

See you soon, internauts!