I actually started reading your site today and have been reading backwards to this point and thought that I’d mention how I started budgeting once I got my first job. This is a section that you haven’t touched (that I’ve seen). I actually learned a ton from being my fraternity’s treasurer. I actually was able to apply almost everything that I learned from being a very successful treasurer to my first job and managing my new life.

Once I had accepted my position I knew exactly what I would be making before taxes/benefits/whatever. So I had read somewhere to take your ‘before tax salary’ and multiply it by two-thirds. And that’s what you would net after taxes/benefits/whatever over the year. This has worked out for me over the past year and will hold true for 2007. So basically I am not going to go into too much more detail but I was able to produce a weekly budget and stick to it over the year. I felt very successful when the year turned over and I had a significant positive balance from a 23 year-old’s perspective. Please let me know if you want to collaborate on a “First Job Budget” article. I could offer up my spread sheet too, which is fairly simple to use yet effective.

Thanks,
Jason