Your Bills (and Budget) Don’t Lie

I’m going to use my paycheck to pay off some debt…“Oh, baby, when you talk like that. You make a woman go mad!” 🎶

We don’t know about you, but hearing people say they’re going to use their paycheck to pay off some debt is music to our ears! 😍 One of the best feelings is being able to pay your bills, pay off extra debt, save, and still have money left over. You’re probably thinking, “yeah that would be nice but it’s impossible!” It may seem like that, but that’s why we’re here to help. 💪

When payday comes, it’s easy to start spending money on things like eating out, video games, or decorations for your casita before paying bills. 💰 Look, we get it. There’s lots of money in your account and you have money to blow. But, when that bill notification comes in through your inbox, you’re probably going to wince as you check your bank account. 😬 It’s easy to keep repeating this cycle and never getting ahead on your finances. 🙃

The solution to this? Budgeting! 💯

You might cringe at this word, but it’s really the best thing for your money. It’s like VapoRub but for your finances, and it’s really simple to get started! 😁

First, take a look at how much is your net income and what bills you have to pay. Rent, phone bill, insurance, gym membership, student loans, etc. Add them all up and subtract it from your monthly paychecks. ✍️

Second, decide what goals are financially responsible for you. 🤔 Pay off your loans sooner? Grow your savings? These are all great goals to help you come along ahead. Even if you choose to prioritize one over the other, that doesn’t mean you can’t do both. You can still add small amounts to your savings account when you pay off larger chunks of your loans. Adding something even as small as $5 is still $5 more you had in your savings than before. 📈

Finally, sing to yourself like Shakira “I won’t give up, no I won’t give in” and stick to your plan. 💪 Having a budget can be tricky at first. As long as you stick to it and are kind to yourself that you’re learning & adjusting, you’ll be singing with happiness as you watch your finances thrive. 🎤

There are some helpful websites and tools to help you manage your money. For example, Mint has a website and app that helps you track your money and create a budget. Having an app is great to help you create your budget so that no matter “whenever, wherever” you are, you’ll keep moving your finances forward. 💃🕺 

For some other tools, check out our Grow Your Ahorros tool and be on the lookout for our new Haz Tu Budget tool.