Learn the Basics of Budgeting Pronto

Learn the Basics of Budgeting Pronto

Hola bellas! Have you ever felt the need to help your family in one way or another financially? What about the internal battles of wanting to help your family but, at the same time wanting the newest Kylie Jenner lip kit? I’m sure you’ve experienced those feelings. Well, I’m here to tell you that with a simple budget, you can do both; help out those closest to you and get that KJ lip kit. Ready to learn the basics of budgeting?!

Below are the steps to creating a simple budget. FYI, I’ve been using this budgeting approach for a very long time, and it has helped me:

•Buy my first car, in all cash (You’re probably thinking, how is that even possible?)

•Helped me pay for my college without any student debt (Say what? Yes, you can make that happen too!)

•Allowed me to buy my first Louis Vuitton bag and all my designer bags after that

•Paid for my trip to Europe and all the trips after that

•Helped me save for a down payment to buy my first home

So, as you can see, a budget has allowed me to get a lot! Get not only things I wanted but also things I needed and mattered to me. Most importantly, it has helped me stay out of debt, which, that on its own, has helped me save lots of money by not having to pay interest.

I’m sure you know the debt in our country is a huge deal.  According to debt.org, “American household debt hit a record $13.21 trillion in 2018. If you had to write that check, it would read $13,210,000,000.00”. According to a 2018 Northwestern Mutual survey, for those 35 years old and under, the largest sources of debt include student loans and credit cards.  So, you want to keep yourself far away from those stats by creating a budget and staying out of debt!  Ultimately, it’s not how much you earn, but how well you manage what you make!


Simple steps to creating a budget: 

1. Start with knowing what your after-tax income is (the dollar amount on your paycheck from your employer).  Essentially, it is the net amount after all the state, federal, and withholding taxes are deducted.

2. Make sure you consider all expenses when creating the budget. In the example below, you can see some of the bills to consider.  If you’re still living with your parents and don’t have too many expenses, use this time wisely to save for the future.

Hispana Bella Monthly Budget
Hispana Bella

3. Add a savings category (you can be saving for makeup, a designer purse, college, a car, or your dream vacation). Don’t delay putting money aside for something amazing!  You got this!  Just set the goal and keep at it!

By setting a budget, you can accomplish more than you ever thought was possible, because it can help you stay out of debt and can make your wildest goals attainable!


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