As I’ve mentioned before, my younger sister moved in earlier in January to start working in downtown Houston. She came home yesterday with her first ever paycheck from an after-college job! I totally remember that feeling I had in 2005 when I saw that check. 🙂 It was amazing!
First Paycheck Memories
My first ever “real” paycheck was a bit smaller than my sister’s, but the budget for hers is so similar to the one I created way back then! Here is the general breakdown of what our first paychecks were/will be used for:
- Work Clothes
- Tiny Entertainment Budget
Honestly, talking about her plans made me feel like I was 22 again. When Mr. BFS and I just started out, we were broke, happy, and had retirement dreams before we even both landed real jobs. 😀
My First Real Paycheck Budget
And, just for fun, I went back in my budget records and here is our budget from July 2005 when we were taking home a grand total of $2500 a month after taxes (Mr. BFS didn’t start teaching until the following year). 🙂
- Rent (550 square ft apt) – $400
- Car Payment (we just had one) – $200
- Car Maintenance – $100
- Gasoline – $200
- Groceries – $150
- Fast Food/Restaurants – $200
- Water – $20
- Electricity – $100
- Cable/DSL – $110
- Land Line – $30
- Cell Phones – $110
- Meds – $30
- Fun Money Savings – $100
- Entertainment – $50
- Cash – $100
- Savings – $600
Learning from the Past
Looking back at my first ever budget versus what my younger sister will be working with, I am happy to say that she is already on an even better track than we were way back then. By renting a room for $500 a month instead of an apartment (which would be $600-ish in this area now), she gets to skip a lot of stupid extra expenses too like cable/DSL and utilities. Her lack of a car payment is sort of evened out with Park & Ride expenses, but she spends way less than the two of us did on entertainment and groceries. And she has a super affordable cell phone plan through Boost mobile since she doesn’t use as many minutes as me. Overall, she could probably save for any huge expense she wants in the next two years. Go, girl, go!!!
Do you remember your first budget or that feeling of seeing “real” money? What sticks out to you?
FYI: I worked at a dead end cubicle job from 2005-2011 for about $30,000 a year. I went self-employed in July 2011 and make between $80,000-$100,000 through blogging, a rental home, and professional pet sitting. If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you). I even have all of my favorite tools on a resource page – I hope they help you too.
This all gives me the time to be with my aging family members, the flexibility to stay close with my friends and family, and it should help if we finally get pregnant too! Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!