Money Smart Week on April, 2025: spending too much money?

Money Smart Week 2025. Money Smart Week Indiana

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spending too much money?

Going out once every 2 weeks is enough. It is better to save your money now for better things in the future. Just think, if I saved all my money instead of going out back then, I can go on awesome vacations and see the world. A dollar is a dollar today... but tomorrow it could be 2 dollars!

The end of my money always comes before the end of the week. Help me?

The end of my money always comes before the end of the week. Help me?

Switch to the European Payroll System.

It seems you get a paycheck every week.

Imagine for a minute you live in Europe and you get paid ONCE EVERY MONTH.

When you get your first job in Europe at 18 you spend your entire paycheck in less than 2 weeks.

The next month you spend your entire paycheck in less than 3 weeks.

By the third month you are now an expert in budgeting and your entire paycheck last 4 weeks.

However, eventually a 5 week month comes and your end the last week without a penny.

This is when you really start to get smart. You plan your paycheck for every 5 weeks (Even if this month is only 4 weeks long)

Then something very strange happens!

The end of the month comes and your next paycheck comes and YOU STILL HAVE MONEY IN YOUR POCKET.

When that happens you save the money you still have in your savings account.

In case you have not figure it out already. Most Europeans have hundreds of thousands in the bank by the time they retire.

This is what you should do:

I asume you get your paycheck every Friday.

Next Friday. Do not pick up your paycheck. Ask your boss to hold on to your paycheck until Monday.

This means you have survived 2 days without money!

The next week do the same thing but ask you boss to hold your paycheck until Tuesday.

And keep doing it until you can survive A MONTH without your paycheck.

That is the easy part.

The hard part is actually saving $1 of every $100 in your savings account.

If your paycheck is $100 you have to go to the bank and save $1 the first week.

The next week you have to save $2

And so on.

Until you save HALF you paycheck in the bank.

You keep saving until you have ONE YEAR OF YOUR SALARY IN THE BANK.

Then you can buy your house.

I also suggest you to buy Microsoft Money Standard Edition 2005 for $19.99 and record EVERY DOLLAR you spend and make there.

Believe me that software is going to help you a lot!

If you need more detailed help let me know.

If you have Credit Card Debts I suggest you to open a 0% Fixed Intro APR for 6 Months at and use that card to pay off the debt of the Credit Card with the highest interest rate.

I asume your gross annual income is at least $14,400

Is 300 dollars every 2 weeks good money?

Is 300 dollars every 2 weeks good money?

No, minimum wage is not good money. 20 hours a week is a lot, and for that much time put in, you could be making more. I am guessing this is your first job, so if you do like working there, stick it out for a bit longer, get more work experience, then look for something else. You could be in a better restaurant, for example, putting in the same hours but making a lot more money. You sound like a smart kid and it's good that you are able to divide your paycheck for different things. Good luck!

Also on this date Tuesday, April 1, 2025...