She Strengthens

Mastering the Art of Adulting: A Smarter Approach to Budgeting

As I navigated the complexities of adulthood, I realized that my carefully crafted budget was consistently derailed by unexpected expenses. These “adult” purchases, though minor, would send me into a tailspin of anxiety and self-doubt. It was time to rethink my approach to budgeting.

The Problem with Forgetting

I’d often forget to account for essential items like conditioner, vitamins, and haircuts. These oversights would leave me scrambling to make ends meet, feeling like I was stuck in a never-ending cycle of financial stress. It was clear that I needed a better system to manage these pesky expenses.

The Solution: A Divided Savings Account

To combat these unexpected costs, I created a “divided” savings account, also known as a sinking fund. This separate account is dedicated to saving for regular, yet often overlooked, adult expenses. By doing so, I’ve eliminated the anxiety associated with these purchases, freeing myself to focus on more pressing financial goals.

Identifying Your “Adult” Costs

To get started, take stock of the products you regularly purchase that tend to sneak up on you. For me, this list includes:

• Sponges
• Dish soap
• Haircare (cuts, products, and styling tools)
• Vitamins
• Stamps
• Face wash
• Laundry detergent

Calculating Your Costs

Once you’ve compiled your list, calculate how often you need to purchase each item. Divide the total cost by the number of weeks it takes to use up the product. This will give you a weekly or bi-weekly savings goal.

Putting It into Practice

Using this approach, I’ve calculated my weekly savings goals:

• Dish soap: $0.92 per week
• Haircare: $5 per week (shampoo and conditioner) + $1.89 per week (haircuts)

By automating these transfers, I’ve ensured that I’m consistently setting aside funds for these essential expenses.

The Cost of Adulthood

After tallying up my “adult” costs, I was surprised to find that they totaled $30 per week, or $60 bi-weekly. While this may seem daunting, I realized that I was already spending this amount on unexpected expenses. By adjusting my budget and adding a small side hustle, I was able to absorb this additional cost.

Breathing Easier

With my “divided” savings account in place, I no longer worry about these grown-up costs. Knowing that I’ve set aside funds for the previous month’s income has given me a sense of financial freedom. I’m no longer held hostage by unexpected expenses, and I can focus on building a more secure financial future.