A Budget

                In college I never had a budget.  I checked my bank account online, regularly, and then once the window was closed I pulled money out of ATMS, swiped my gold card, and used my VISA with discretion.  I was young, dumb, and running on plastic; I never went broke, but there were certainly moments where I thought, damn, I’m going to be eating at home for the rest of this month.  Naturally, after that startling realization, I would walk to the grocery store—convinced I was only getting the essentials for a week or two of home eating—and, almost always, I left the grocery store with food that I would eventually throw away next week.  The broccoli would get soft and brown, the milk got thick and stinky, and I devolved into a “Dollar Menu Junkie”…  Currently the “Dollar Menu Junkie” has been rehabilitated (or is merely hibernating), but the risk of blowing all my money on delicious yet unhealthy food is still a threat in Korea. 

                During my first 2 months in Korea, August and September, I was eating out for breakfast, lunch, and dinner.  Once I moved into my apartment I was able to keep fresh food so I cooked on my own more and labored to perfect the art of ramen.  But, having my own apartment with a fridge couldn’t curb those lunch trips to Lotteria or Egg Papa; I worked late and sometimes it was just easier to stop in at a local eatery (it’s called Happy Kimbob) and I’d let those two nice ajumma cook my ramen instead.  Plus, there was a whole new nightlife that I was getting used to: bars and clubs that needed exploration.  And it’s funny too, because beer is so cheap (soju is cheaper than water), but after a couple of beers, a couple of shots, a couple of hours—HOLY SH!T, how did this bill get so big?  I was going to bankrupt my Korean adventure before I’d been here for 3 months!  Otto and I brainstormed, we were in the same position, and we both realized that the simplest and most practical solution was a budget.

                After my conversation with Otto I started organizing columns and rows, setting up ‘sumproduct’ functions, and projected monthly budgets.  On one side of my budget, I projected what I was going to spend each month; in the middle of the budget, I kept track of how much money I had in all of my accounts (domestic and back in the US); and the largest section of my budget was dedicated to recording each purchase: I set up different micro-budgets like FOOD, DRY CLEANING, UPKEEP, and an ETC group.  (ETC is where I gather all the greasy receipts from my nights out.)  Everything was linked with different unique functions to calculate my micro-budgets, my monthly budget, and the total left on my South Korean debit account.  It took a while to get used to the budget, keeping receipts and writing down how much cheese ramen cost me for dinner, but it’s been a remarkable asset for me while I’ve been abroad.  I know when I’m spending like a New Jersey housewife and I know when my finances allow me an extra cuba libre. 

                If you are planning to go abroad than I recommend making a budget for yourself.  Often, when travelling, we don’t realize the value of the currency in our hand and we spend swiftly.  Maybe you’re like me and the money in your pocket burns a hole through your jeans and before you know it you’re down to half with what you started with—if that’s the case, start a budget.  Take an Excel class or just get ballsy and go for it (honestly, Excel isn’t that confusing and the internet is loaded with tutorials and FAQs).  Set a goal of how much you’ll spend and try not to go over, and if you do, it’s okay, just try harder next time and stay committed.  Have self-control and don’t let your money run you, run your money.  It’s never too late to start a budget and it’s sad to look back, broke, and think about how you could have used some financial advice, but now you have no finances to advise.  Whether you’re the “dollar menu junkie” or the Iron Chef of ramen, you owe it to yourself to be financially responsible…don’t go broke abroad…start a budget.