Millennial In Debt: Organizing and Budgeting My Finances

If you missed it, I plan on sharing my debt free journey, here is where I share my debt story.

From research, I learned that millennials are facing 1 Trillion in debt.

I want to share my debt story to help other millennials find someone they can relate to.

Today I’m talking about how I organize and budget my finances

Different Uses For Each Bank

I have different bank accounts and different uses for each one. I have a commercial bank, a commercial bank is Bank Of America, Wells Fargo or Chase.

Since they are easily accessible I have that as my main bank account. My credit union, is harder to find an ATM or access my money so I use it to save money. I’m less likely to use the money because I know I may be charged or have to jump through more hoops to access the money.

Budget Sheet

I use a budget sheet in excel to organize my monthly expenses and monitor trends.

It helps me to keep track of my bills, debt, savings and better set, plan and attack goals. I’m able to see how much I would need to pay if I wanted to pay off a credit card by a certain time. Have a certain amount in my savings or whatever goal I have at the moment.

Online Resources

Mint has been a favorite online resource of mine to set goals, track my credit score and better see trend.

For example, if I brunch to hard one weekend it will let me know that I spent more money at restaurants or if I go to too many coffee shops. On the backend I can access these trends and give myself a limit to how much money I should be spending in each category.

Inspire On,


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