Money Matters (Budgeting)

As we've discuss, money is at the forefront of my thoughts lately.  Or put another way, not including utilities, my rent in Georgetown was less than half of what I'll be paying on Swann Street.  For realzzz.  SO...I need to get a tight budget and stick to it.

A year or so ago, I signed up for LearnVest, a personal finance website for women.  Started by a HBS gal my age (who took a leave of of absence from school to start the site), LearnVest is sort of a Finance 101 for ladies.  I haven't been so disciplined about tracking my spending on the site, and I have not found that particular function all that helpful, but I actually really enjoy their articles and useful tips. 

One example is there 50-20-30 budget.

50% of your net income (after taxes monthly pay) goes to essential expenses
- rent
- utilities
- transportation
- groceries

20% goes to financial priorities
- retirement (outside of pre-taxed 401(k) contributions)
- savings
- emergency fund

30% goes to discretionary spending
- shopping
- bars and restaurants
- pets
- cell phone
- memberships
- all the good stuff

I plan to give this method a go.  I wanted to be more aggressive on saving, but truthfully, it would be a pretty dramatic change in my social habits, and I think already doubling my rent is dramatic enough. 

Now I just need to ask for another raise...