Budgeting Tips for Beginners: What I Wish I Learned in High School

Published on June 10, 2025

Welcome to FoodFinanceTV, where I share with you my budgeting tips for beginners that I learned the hard you, with a side of real-life baking mishaps and a few slightly burnt cookies.

Today, we’re diving into the budgeting basics I wish someone had explained to me back in high school. I thought I’d share what I’ve learned after 10 years of consistently budgeting. I’m not a financial advisor; just a quiet introvert who got tired of always feeling broke.

Step 1: Know What You’re Actually Spending

This means:

• Open your banking and credit card apps
• Grab those receipts
• Face the truth

Split your spending into three categories:

1. Fixed Expenses – rent or mortgage, car payment, transit pass (shoutout to Chicago Public Transit CTA), utilities, insurance, phone, and internet.
2. Variable Expenses – groceries, eating out, food deliveries, subscriptions, entertainment, laundry, gas, gifts, coffee, random Amazon orders at 12:30 a.m. (just me?)
3. Debt Payments – credit card minimums, student loans, personal loans, and anything else you owe.

Once you add those up, you should be left with money. Should. If you’re not…welcome to the club. I’ve been there too.

Step 2: Adjust Before You Spiral

If your income barely covers your fixed costs, variable spending, and debt payments, then variable spending has to take the hit. Deep breath. Here’s what I personally cut when I started:

• Weekly dinners with friends → became monthly
• Delivery apps → deleted (along with the saved passwords)
• Bottled water → back to tap; I had a $40/month mineral water habit
• Subscriptions → canceled (even Amazon Prime!)
• Gym → walked instead
• Uber/Lyft rideshares → took public transit (yes, even in Chicago winters)
• Coffee/iced tea runs → made it at home

It’s not easy. But budgeting means trading short-term habits for long-term peace.

Step 3: Write It Out. Yes, on Paper!

Grab a pen and make two lists:

• Fixed Expenses (the bills you must pay to survive)
• Variable Expenses (everything else)

Now the hard part: cut what you don’t truly need. It might sting. But it works.

Do the math. See where your money’s going. Then make a plan that helps your income cover all three categories: fixed, variable, and debt. Let’s keep it honest, a little messy, and totally judgment-free

Step 3: Write It Out. Yes, on Paper!

Grab a pen and make two lists:

• Fixed Expenses (the bills you must pay to survive)
• Variable Expenses (everything else)

Now the hard part: cut what you don’t truly need. It might sting. But it works.

Do the math. See where your money’s going. Then make a plan that helps your income cover all three categories: fixed, variable, and debt.

Let’s keep it honest, a little messy, and totally judgment-free.

Coming Soon on the Blog:

• How I paid off my debt
• How to consistently build a monthly budget
• How I (so far!) live debt-free
• Meal preps to break the food delivery habit
• Financial know-how you’ll actually use
• Fulfilling my dream/fantasy to become a baker
• If you’re just getting started, check out [From Rock Bottom to Rebuilding: How I Started My Debt-Free Journey].

For the visual learners (like me!), I’ve included a step-by-step breakdown of how to write your first budget, straight from my own PowerPoint presentation below. Each image walks you through the core pieces so you can follow along at your own pace.

Want to see it in action? Watch the full breakdown on my YouTube channel: FoodFinanceTV.

Thanks for being here. You’re not alone on this journey.
Have a good day or night!

Bakebit

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