Hey TexAgs,

I will be graduating in May and joining the workforce soon. So far, my budget has been pretty straightforward with my part-time job and basic expenses. But since I will no longer be a dependent, I will have a few more expenses to take care of.

Are there any budgeting books or solid advice that you could pass on to an Ag in his first year of real income?

Thanks y'all

I don't use this but it gets recommended over and over:
YNAB

Since you are starting out and asking for help, I would recommend reading the following:

Books:
The Millionaire Next Door
Your Money Your Life

Bogleheads Guide to Investing
Millionaire Real Estate Investor

Blogs:
Mr. Money Mustache Blog & Forum
Bogleheads

Finally, the best advice that I can give you was given to me by Gary Keller in his book above (The Millionaire Real Estate Investor). Create a spreadsheet with tabs that track:

• Your cash flows (basically, 9-12 months worth of income and expense projections).
• Your balance sheet (Keller says to track these last two bullets weekly but I think its excessive and only do it monthly).
• Your income statement as it relates to your balance sheet. This is the kicker. How should you allocate your savings? What is the most efficient way to invest? What investments fit your needs and wants? How can your money work best for you? If your investments earn a certain threshold, how would you behave? If you can learn to answer these questions, you will be the better for it.

I can't describe to you how doing this changed me for the better. Once I learned how to do this and started answering these questions, it focused/trained me to think of capital, time, work, etc. in a new and better way. My net worth is up tremendously, and I'm on track to do things that I could not have done otherwise. Best of luck to you.

edit: Forgot to tell you this, but get a side hustle. It should be something that you enjoy that is also profitable.

Great post, thank you very much!

I wish I had read Dave Ramsey's Total Money Makeover when I was in your position. Not the end all-be all, but shifted my thinking. Read a lot from different places and make up your mind on what works for you.

Generally speaking, I'd say:
- Live on less than you make
- Save and invest as much as you can consistently
- Dont get caught up in the "rat race" of keeping up with the Joneses, and be content with what you have and what the first two points will mean to your future

Great advice. I have watched a seminar from Dave Ramsey exclusively on giving and really liked how he communicated his message.

The advice given above is all solid. Hats off to you for educating yourself and getting on the right track early on in your career.

You are already ahead of the game just knowing you should addressing a budget and laying out a plan even if you don't know exactly how to proceed!