One day I got a call from our bank. It was obvious to them that something was wrong, so they invited me to come explain. When I did, they were very understanding, waived all the NSF fees, and gave me a crash course in reconciling a checkbook.

Basically, this is what you do:

1) Determine what amount of money is required to live as you plan to.

2) You do not have enough money to live as you have been at mom’s place, so find another place to live, or a roommate.

3) Get this cost of living thing worked out; determine what you will be earning, what your possible roommate will be earning, and decide how all bills will be paid. (50-50 is best on rent and utilities, except phone.) Each should have his/her own phone, and groceries are usually an issue. Make an agreement that you will buy what you eat, and they will buy their own food as well. Then keep the pact. Any problem in this area are a guaranteed roommate split-up motivators.

4)Budget your earnings, allocating an amount equivalent to that required to pay all your part of all bills. Pay your bills immediately so that there are no over-due charges assessed. Pay only your share of each charge, and have a before-hand agreement that if one of you does not pay, and an over due charge is applied to your account, the late payer will be fully responsible for paying it. Never let a roommate get more than one month behind paying any bill. Try to always have one or 2 prospects to take his/her place if you must throw him/her out. Believe me, once this problem begins, it only gets worse. (Also, do not be this kind of roommate to your pal–you might find yourself out on the street.)

5)Be SURE that you have money in the bank to pay every bill. Each overdrawn check will cost you $20-$50–banks can arbitrarily charge whatever they want. (Which brings up another point–shop for your bank. Get parents’ advice on this one.)

6)Learn to sacrifice. You cannot go out every night if you plan to pay your bills on time with a good check. You may only get to go out once a week, instead of 5-7 times. You may even have find a friend who enjoys board games or cards or watching TV or rented movies, and NEVER go out for a while. But whatever you do——DO NOT SPEND MONEY ON RECREATION, CLOTHES, ACCESSORIES, DINING OUT OR ANY OTHER UNESSENTIAL ACTIVITIES UNTIL YOU HAVE A LITTLE CUSHION OF CASH IN YOUR CHECKING ACCOUNT . It is tough to have to admit your failure and move back home, in debt and hungry because you planned and behaved poorly. You are an adult now–never go backwards from there!

Wishing you the best!!!!!!!!!!!!!!!

I almost forgot this–reconcile your checkbook as soon as it comes every month. If you know how much (or how little) you have to spend, let that be your guide.

Tithe 1st, then bills, then try to save a bit, then have fun with that extra $1.25!