A Guide for Young People: Keeping Track of your Finances

I appreciate this is pretty far from my usual beauty posts, but when I started my first full time job and was handling slightly more money than I was used to, I couldn’t find any advice aimed at young people for how to get financially organised and keep track on spending. 

I am not an expert, this is purely from experience of what I have done and how it has worked. 

I am still in the process of watching this work, but I wanted to share with you my first steps of getting financially organised and how I found it. 

I wanted to keep it easy (and pretty if possible) and I think I’ve managed to do both. 

1. Keep your receipts 

Cashier : “would you like a receipt?”

Me: “no, I’m ok thanks” 

This was me for years, I never got a receipt and if I did, they got binned. I’ve recently made sure I always grab the receipt and if I don’t automatically get one, ask if it’s possible. 

2. Have a place for paperwork/ receipts 

I invested in a little rose gold pouch I could keep in my handbag to store all receipts and financial paper work (pay slips, invoices, etc.) so I could have it on me at all times and it also meant my purse wasn’t stuffed full with receipts. You could also get a box to keep in your room or dedicate a draw to this if you don’t feel you need to keep them on you. I empty this into a box at home weekly. 

3. Get a book/file to organise everything 

I (once again) invested in something specifically for this job, but a note book or ringbinder would also do this job. 

I got a ‘bills organiser file’ from Paperchase, I loved it straight away for the simple fact, I thought it was pretty. 

I then looked inside and realised it was also highly practical and was going to be perfect for organising everything in separate, easy to manage sections. 

This file comes with 5 dividers that are already pre labelled, it then comes with some blank dividers and a sheet of stickers for you to add dividers to the file that apply to you. If there wasn’t stickers that said what you wanted you could always just write on the tab. I added tabs for things like tax, vehicle and insurance. 

It then comes with some brown envelopes which you can put behind the dividers to store any receipts or paperwork that is for that category so you know it is all in one place. I added several envelopes behind sections such as ‘direct debit’ so I could split my receipts into categories like ‘food, clothes, others’ 

You then get some sheets that are essentially a table for you to fill in with bills that have been paid or need paying and how much, when etc. I used these slightly differently in some sections, I used them to record my receipts, where they were from, how much, when I went and so on. 

There is also a sheet for ‘monthly overview’, I haven’t used this yet but it might be good for setting some saving goals or reminding yourself what’s due soon. 

I plan to file my receipts into the planner every month to stay on top and I must admit, it was nice to know where my money has gone and also to set myself targets of areas that I need to stop spending so much money in. 

I also recommend going through your bank statement (I access mine through my banking app) to add things to your records that you may not have receipts for such as online shopping. 

I know this might not have been the most interesting post because financial chat never is, but I hope it has been useful to any young people, trying to enter the world of saving and get financially organised. 

I’d love to know any of your tips for monitoring your spending and see if I can give them a go. 

I’ll try to make the next post something beauty related, but let me know any beauty or lifestyle posts you’d like to see. 


Author: Life With Ellie

18, full time Content and Social Strategist, beauty enthusiast.

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