Budgeting is a necessary skill for any adult. At any point in life, you always have to budget. Whether you like it or not, spending money is a must, even on things you do not use often. Why? It shows how you take care of yourself. 


The concept of budgeting is not new. But some people still lack any information about doing it. It can be due to negligence or simply because they have no idea. Nonetheless, do not look down on people who buy items for pleasure. The way how money works vary from person to person. 

   Wallet and coins seen through a magnifying glass

With that being said, here are some key budgeting tips you should know in your 20s. Some of them are already mentioned before, but it must be told to them once more.  


1. Spend only on the essentials

Essentials usually include food, water, and toiletries. These are the things that we need to survive daily. Once you lack one of either, it can affect your lifestyle directly and indirectly. Anyone can buy all of these products at your nearest grocery store. So when you can, schedule a day only to buy those essentials. It cannot be interesting after many times, but it will help.  

2. Save money for later use

When you receive your salary, try to save at least 10 percent. If not, adjust to any manageable percentage. You will spend your salary most of the time on bills or quick loans. It sounds unappealing, but it’s a fact. Remember: you will spend. So even if you have a source of income, it is best to save them. Then, you can use the savings for the things you want to buy. It may take a long time, yet it is better than making quick money. 

3. Do not buy impulsively

These are the kinds of items you want to buy. Think of a book, appliance, clothing, or art materials. While they have their value, it is not needed right away. Having no control of your money is a bad sign. You will lose sight of the budget when you buy too many things. In turn, you cannot refund most of the money as well. 

4. Do not spend on unnecessary expenses

It is the trickiest part of budgeting. While you spend money, there are unexpected moments where you have to do it. No questions asked. Even though you can delay the purchase of any transaction, you still have to pay what is due. It would help if you eliminated any unnecessary expenses. When necessary, negotiate any terms to be discussed clearly. Doing so will lessen your financial burdens. 


Budgeting has no linear path. Instead, it depends on time, effort, luck, and situation. Knowing how you can handle the budget is the first step. In your 20s, you should know these budgeting tips. Once you know the ways of budgeting, it can go a long way. Please do not get discouraged because it is natural that the money will go back. You are the one who gets to decide where the money is going.