We all recognize the need to spend money wise. But, many of us know what we ought to
be doing with our money yet often just don’t do it. That’s why; smart money management is your
best protection against money troubles. Money is the harvest of all your efforts. Yet, to deal with
money you must learn about yourself--your needs, goals, desires, and money fears. What does
money mean to you? Is it something to be hoarded, spent, or worried about? Does it give you
security, bring you pleasure, or cause you guilt? Whatever the reason, optimum management of
your financial resources can improve your standard of living.
The main purpose of this pathfinder is to provide information to all young adults who are
seeking ways to create or maintain an effective budgeting/saving system. This pathfinder will
introduce you to new and inventive ways to make smart money decisions.
Is there a need for electronic materials?
You may be wondering about the relationship between electronic materials and budgeting
and saving tips. In today’s world there are many people around who want to help you manage
your money than ever before. Many people who used to be called bankers, stockbrokers, or
insurance agents now call themselves financial planners or consultants. These financial planners
are easily accessible, but for a fee of course!
Yet, due to the ever-changing world of technology, there are many resources available
via internet and software packages, which can easily provide informative and useful guidelines
similar to a financial advisor. Now, with having the capability to obtain this type of valuable
information you can now be “Your Own Financial Planner”. If you are willing to save, you can
learn to do a better job of managing your money finances by viewing this helpful pathfinder.
This pathfinder is designed to inform young adults about effective budgeting tips, great ways to
save money, how to build a financial planner, and the many educational materials available for
additional information. Young adults accessing this pathfinder will be able to make smart money
decisions and build/maintain a financial platform for the future.
The resources that have been selected are based on information accessed through Yahoo,
Excite, and Google.com. The material provided is designed to inform young adults about
ways to budget effectively.
• Personal Finance
• Budgeting & Saving Tips
• Save Money Strategies
• Frugal living
To gather more personal financial advice, try accessing other search engines such as
Ask.com , and even MSN.com for additional assistance.
2. Consumer Credit of America
Consumer Credit of America is a website that provides credit counseling nation wide.
Young adults accessing this website will have access to many educational and
informational articles relating to financial mishaps.
• Common mistakes young adults make with money and How to avoid them
• Five ways to cut spending, and still get to do and buy cool things
• Five things you should know about credit cards
• Simple, Everyday things you can do to save money
The Buzzle (Intelligent life on the web)
The Buzzle.com is a website that contains a really helpful and educational article for
young adults seeking advice on ways to save money. This site provides tips on ways to
reduce debt and maintain a reliable budget.
Free Financial Advice (Ways to save money, make money, and get of debt)
Free Financial Advice.net is a website with many advisory tips relating to ways to
strategically save money. Young adults accessing this particular will be able to access
tons of helpful articles to gather information about money matters.
3. Featured tips:
The Rules of Financial Management
• Have realistic expectations
• Live within your means
• Rationalize your spending
WikiHow (Saving Money Tips)
Wiki How is an editable how to manual site that contains helpful budget information for
young adults seeking ways to save money. Young adults will be able to access various
different informational sections that will allow them to gather money saving tips.
• How to earn and save money
• How to save money for things you want
• How to buy nothing
• How to live on a structured budget without going crazy
Free Money Finance (Grow Your Net Worth)
Free Money Finance.com is a useful site that contains many interesting articles geared
towards young adults. Young adults accessing this particular website can read a very
useful article titled “Help for young adults looking to move from classroom to the real
world”. This article provides information about young adults entering the workforce and
their financial priorities. Other articles featured within this website include the following:
“Saving money on banking”, “Save money by paying your credit bills on time”, and
‘Hundreds of ideas on how to save money”.
Investopedia.com features a variety articles relating to saving money tips for young
This website includes information for retirement and an educating article titled “Saving
for minors”, which provides information about the benefits of starting to save money
The Motley Fool (To Educate, Amuse, and Enrich)
Motley fool.com is website that contains interesting budgeting and saving tips for young
adults. Young adults accessing this site can gather important information about how to
handle money effectively.
• Saving Options
• Get a handle on your money
• Why short-term savings
Kiplinger.com provides a very educational article by Erin Burt dealing with the “Five
Financial Resolutions for Young Adults”. In this article, young adults can learn tips on
how to save for a house, reduce credit card usage, and ways to cover one’s assets.
5. YouTube: Save money clip
Tips to save money in 2008
This clip provides information by Kate Bohner & friends from “KBTV: water-cooler
diaries” online which discusses ways to save/invest money in 2008.
Looking for affordable, yet fashionable wear?
Spanky’s shop provides popular and stylish apparel at an affordable price.
Spanky's young adults department has pretty much all the in-brands from Abercrombie & Fitch,
Diesel, Hollister and Sevens Jeans, to Gap, Nike and North Face.
Orange Zone, Inc. (The off-price apparel specialist)
Are you a bargain shopper?
Orange Zone, Inc. is the leading wholesaler of off-price apparel. This site provides the largest
selection of clothing with the best prices.
Save More Money On Clothing Tips:
Stretch your clothing shopping dollars
Money Instructor.com provides young adults with clothing shopping tips in order to save money
Save money on clothing
Thriftfun.com provides young adults with inventive ways/tips to save money on clothing
Home of shoes
Shopping on a budget?
This money saving website contains a variety of wholesale and the latest fashion shoes for
Looking for cheap shoe deals?
This website includes great bargains for shoes, as well as great deals on apparel, and even
Gas-Buddy links to gas-price sites in Canada and the U.S. by specific state or province, county or
parish. Gas-Buddy tracks regular gasoline and diesel fuel.
Automotive.com highlights the lowest cost for each grade within your area when available.
GPW (Gas Price Watch) spotlights the best local price, and it also lets users sort results to find
the most recently posted prices.
MotorTrend.com is gas price locator that will help viewers find the lowest gas prices in the local
7. Fuel Saving Video Clips
Tips to save money on gas
This clip is sponsored by revver.com, which provides helpful tips on ways to save gas money,
while introducing the new features of a hybrid car.
Cheap gas prices at American Fuel Club
This informative link is sponsored by American Fuel Club.com which introduces information
about an effective member’s only club that can help driver’s save on gas
Affordable Car Insurance
Insurance-Compare-Save.com provides affordable car insurance for young adults. Young adults
accessing this site will be able to obtain a free insurance quote and save up to 75% on premium
insurance. This website also contains many educating articles for young adults such as: Discount
car insurance, Low cost car insurance, and Car insurance credit.
These wonderful articles will inform young adults about the importance of car insurance.
Are you in good hands?
Allstate.com provides information about its wonderful promotions such as safe driving bonus
points, accident forgiveness, deductible rewards, and it new car replacement plan. Young adults
accessing this useful website will also be able to receive an instant car insurance quote or have an
insurance professional call immediately for an instant coverage cost.
Free printable coupons
This site contains money saving coupons for food, household needs, and even entertainment.
Brads Deals (Handpicked Savings)
This money saving website includes handy coupons for food, health & beauty, and even books.
Affordable & Free Activities
Frugal village.com provides interesting, cheap, and fun activities for young adults who are living
on a budget. Suggested activities include: Star gazing, Park/nature center outing, and even fun-
filled board games.
9. Free Attractions
Free-attractions.com is a wonderful database for Free Attractions and Free Things to do in all 50
United States and over 1,500 U.S. Cities. Listings include Free Museums, Free Parks, Free
Concerts, Free Parades, Free Festivals, and Free Zoos. Users can search for fun-filled activities
by accessing the map available within this helpful website.
The Dollar Stretcher
The Dollar Stretcher.com provides a wonderful article by Shaunna Privratsky about “Marvelous
movies on budget”. Young adults accessing this useful article can gather tips on ways to save
money at the movies.
10. Saving money can be a hard task to begin when you lack the proper financial knowledge.
To gather money saving information one must become familiar with how to build a
financial planner. Listed below are a few free downloadable budget trackers and a useful,
effective budget worksheet provided by Wells Fargo Banking, available for your personal
Free Downloadable Budget Trackers
Budget Tracker, Inc.
What we do:
Budget Tracker, Inc. is a financial money management site which allows users to access their
data from any internet connection via a Personal Computer or Cellular Phone.
Budget Tracker.com allows you to track your Budget, Bills, Transactions, and tie all these
together in an easy to read Calendar that can send you reminders when Bills are due. You can
also view most of the data stored on this site with your cellular phone so you can take all your
data with you where-ever you may be. To learn more about the available features budget tracker
has to offer, visit the full product list for more information.
11. Budget Tracker (Keep your ducks in a row)
Ducksoftware.com budget tracker is an easy to use program that will help you track and
understand your monthly expenses. Each month you can enter in a number of specific monthly
expenses including Rent/Mortgage, Utilities, Grocery, Entertainment, Phone, Medical, Clothing,
and more. Each of these is tracked per month, but also a running average is kept for each expense
over time. So you can see just how much you spend on average for specific items.
Budget Tracker is designed to be easy to enter all your expense data. All the averages and
monthly totals are on the main screen so you can get a quick view of your personal finances.
Other data that is tracked includes an overall monthly average expenditure as well as the highest
month and the lowest month. In the end, Budget Tracker’s goal is to help you get a grip on where
your money is going allowing you to better manage your finances.
Free Budget Worksheets (Improve your personal finances)
Free Budget Worksheets.com provides a variety of free budgeting worksheets as well as many
educational and interesting articles related to personal finance. Young adults will have access to
many useful money saving worksheets as well as informational articles.
• Steps to building a budget
• Budget Planning: Predicting the future
• Save Money, Save Time, Pay Online
• Financial Fitness Quiz for personal budgeting
12. Budget Worksheet – Young Adults
Use the worksheet below to create a monthly budget and track your actual spending. If you have
an expense that is not paid monthly, convert it to a monthly amount. For example, if you pay your
car insurance bill every six months, divide the amount of the bill by six.
CATEGORY MONTHLY BUDGET MONTHLY DIFFERENCE
Salary/wages (after taxes and
Debt payments (credit cards,
Other fixed expenses
Transportation (gas, repairs,
tolls, bus, subway, etc.)
Personal care services (laundry,
Personal care needs (deodorant,
body soap, etc.)
Personal necessities (clothes,
Other flexible expenses
13. DISCRETIONARY EXPENSES
Other discretionary expenses
(Income less expenses)
Additional budgeting tips:
• If you’re still living with your family, first, contribute your fair share to the household. If
your family’s supporting you 100%, be realistic: this “free-ride” won’t last forever, so set
aside some money every week or every month for your short and long term goals. Leave
yourself enough to pay for your day-to-day expenses and some money to have fun.
• If you’re away at school or already living on your own:
o First, pay your bills: for example your rent utilities, car payment, insurance, and
credit card bill. Remember, there are many potential penalties if you pay your
bills late, such as late fees, losing possession of things you’ve bought on credit,
even being evicted from an apartment! Also, paying late can seriously damage
your ability to borrow money in the future.
o Next, set aside the money you’ll need for your weekly and day-to-day expenses,
like groceries and bus fare. Finally, you’ll want to save some money for
emergencies, if you can.
o Next set aside money for larger expenses you know are coming, such as school
books and clothing
o Finally, set aside money for your major future goals whether it’s more education,
a new car, or travel.
Worksheet provided by:
Hands on Banking – The Library – Young Adults
2007 Wells Fargo Bank
14. How to implement an effective budgeting plan:
Use these four easy and general guidelines to incorporate in order to create a financial planning
activity. This information can be presented to young adults during a workshop that involves ways
to save & budget effectively.
Look at your income and each expense with a critical eye. Paying attention means to spend your
money wise only on things that you need, and NOT on what you want.
Being disciplined means to follow through with your money decisions. This means paying your
bills on time, lower credit card usage, and simply living with the budget you construct.
15. Craft a plan:
Gather the information you need, then sit down with pencil and paper to:
• Create a budget plan or spending plan
• Limit yourself to one type of credit card
• Stop incurring new debt
Put your plan in writing so you can tell whether you are following it honestly.
Implement your plan! Make lists, charts, or reports that you look at weekly or monthly that tell
you if you are on track.
16. Non-Fiction Books
Rich by Thirty: A Young Adult’s guide to financial success
By: Lesley Scorgie
Rich by Thirty offers young people practical advice and solid information on a wealth of financial
topics, including the differences between saving and investing: why a young person should
invest; learning how to budget; avoid credit card traps; the dangers of unrealistic expectations;
and how to choose the right investment vehicles. This book also features worksheets, a resource
section, and a glossary of money terms.
The Everything Personal Finance in your (20s & 30s) book
By: Debby Fowles
The Everything Personal Finance Book provides young adult’s with easy-to-understand advice on
how to manage money properly.
17. The Everything Budgeting Book
By: Tere Drenth
The Everything Budgeting Book gives young adult’s advice on how to assess spending patterns,
practical strategies to economize on everyday expenses, common sense tips on budgeting for the
future, numerous debt-consolidation resource, and easy-to follow budgeting worksheets.
Young Money Magazine
Young Money Magazine is the only money/lifestyle magazine geared to 18-24 year olds. It is now
reaching college students who are naturally involved in various money related matters such as
credit cards, student loans, saving and investing, car buying and career search. Young Money
skillfully delivers a unique blend of money, business and lifestyle that engages, inspires and
informs. With a majority of articles written by sharp college journalists who "know the language"
and have the attitude of today's youth, Young Money draws readers inside with a fast paced tour
of stories, facts, opinions, and colorful, lively photos and illustrations.
18. Stash Magazine
STASH is an online, interactive magazine for young adults who want to learn more about
managing their money. It is written by us, for us. STASH is designed to let you be heard. You can
rate articles and post comments. If you've written an article you would like to share, submit it!
Financial Management for young adult
By: Dave Durand
This educational program provides young adults with the important differences between saving,
investing, and budgeting, and the risks of credit card debt.
19. Financial Peace: Cash Flow Planning
By Dave Ramsey
In this video, Dave Ramsey walks you through a step by step method for setting up a household
budget that you can live with. No longer will you have to dread living on a budget. Dave shows
you how to live on less than you make, pay your bills, allow for entertainment and still have
money left over at the end of the month.
The 9 Steps to Financial Freedom
By: Suze Orman
Financial expert Suze Orman is changing the way America thinks about money. Orman outlines a
revolutionary approach to the way we save money, handle debt, and plan for our retirement. By
examining and understanding our earliest attitudes toward money, we can honestly confront
where we stand financially and take the necessary action toward financial freedom. Orman deals
with managing money responsibly, handling credit card debt, and planning for our retirement.
(Money Manager 2007)
Keep track of your money with this personal organizer. Money Manager can take all the hard
work out of managing your money, leaving you free to enjoy it. By simply setting up your bank,
20. credit card and savings accounts and then taking a few minutes each week to enter the details of
any transactions, you'll soon be producing useful charts and reports. The result will be a much
clearer picture of your financial future so you can plan and budget with confidence and accuracy.
Budget Creator (By: M2K)
Budget Creator helps you to create a smart budget that saves you time and money. Learn how to
make money appear instead of vanish. Understand the secrets of how to develop a smart budget.
• Learn to create and maintain a budget
• Great for college kids
• Set financial goals, create a budget process and more
Microsoft Money Deluxe 2007
Microsoft Money 2007 Deluxe brings all your personal accounts—banking, credit, and
investment—together in one place. With its easy-to-use tools, you can improve your credit,
decrease debt, and tackle your taxes. Microsoft Money 2007 Deluxe lets you spend less time
worrying about your money and more time enjoying it. From balancing your checkbook to
improving your credit score, Money 2007 Deluxe can help you get—and stay—organized.
• Money's Spending Tracker automatically categories your transactions and compares them
to your budget
• Manage your bills using multiple online accounts, even schedule the payment of bills in
• See all of your accounts--checking, savings, and credit--in one place