A few years ago, my best friend said something that really stuck with me. The gist was this: It doesn't matter whether you make $25,000 or $100,000 a year — you'll still feel like you don't have enough money.But here's the thing. She was right. In the span of a few years, I went from being an intern to a legit professional. My salary doubled, but I was still living paycheck to paycheck.
"You often see an increase in consumer debt when that salary increases that increased salary gives someone the confidence to say, 'Hey, we can buy this. We don't have the money in the bank right now, but we're confident that over time, we can pay that off,'" Madgett says. Tracking your spending, via an app or an old-fashioned spreadsheet, will keep you tuned in to where your money is going. Then you can make informed decisions around your spending, like whether you really want to shell out that much money on takeout.Tom and Donna know not to"Treat Yo Self" every day. Instead, make it special. And make it part of your plan. Carve out room in your budget for fun and set aside funds for things like vacations, concerts or big purchases.