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Benjamin Allen
  • Rental Property Investor
  • Geneva, NY
17
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Help me with my Budget!!!! 23 year old

Benjamin Allen
  • Rental Property Investor
  • Geneva, NY
Posted

I'm trying to save 1200 a month to invest on new properties. I'm having trouble making a detailed and in depth budget that I can study and stick to over time. Are there any tools you've found that help develop a budget, if so could you share? Also, I was hoping if any one had any advice on budgets specifically how a person can go day to day accounting for every dollar. I'm single, im house hacking. Thank you in advance for helping with your advice... 

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Scott Trench
#3 Personal Finance Contributor
  • Rental Property Investor
  • Denver, CO
6,193
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Scott Trench
#3 Personal Finance Contributor
  • Rental Property Investor
  • Denver, CO
Replied

Hi @Benjamin Allen

I was in this position last year, and I think that budgeting is a good start, but perhaps an even better place to look are in your main life expenses like housing (which you are doing a great job on by house-hacking), transportation, and food. I actually wrote an article on what I did in your position last year:

"How I saved $20,000 in 2014 and used it to invest in Lifestyle Design"

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