Budgeting in Florence

Saturday, September 10, 2016

Budgeting is challenging for anyone and everyone. Refusing to spend money is certainly unrealistic, so instead, we have to choose where we spend our money and how we spend it. Throughout the past few weeks, I’ve realized how hard spending (and not spending) money  really can be. I am eighteen years old living in a foreign city without the luxury of putting all my expenses on Mom and Dad’s credit card (and trust me, none of us are complaining about that). Therefore, I’m using my money I have personally earned and money I have saved up from birthdays, graduation, etc… I’m grateful my parents and grandparents have funded my education for the past twelve years, and they continue to during this once in a lifetime year abroad.

Here is a breakdown of my budget for those who are curious (I sure was six months ago on how I would avoid becoming broke).

During the past couple weeks, I have had additional expenses that won’t be in my budget for the rest of the year (thank God).

  • approx. 500 euros on school materials (lab fees, required readings, and my permit to stay)

Weekly budget

  • 60 euros for food (groceries and eating out)
  • 30 euros for every day needs (cappuccinos and gelato included here)
  • 20 euros for extra spending cash

That is approximately 110 euros/week. It doesn’t sound too bad, but I am here for nine months (36 weeks)! I am going to try my hardest and stick to this budget. Some weeks I plan on traveling (like next weekend), so I’ll have to add a couple hundred to my budget. Because I’ve already spent 40 euros on eating out this week, I have 20 euros to spend on food until Thursday.

It’s this kind of stuff that truly makes me feel like an adult. Most college freshmen do not have to worry about money like we do since we are far away from home, on our own, and using a different currency. But I know it’ll serve us all well as we learn, make mistakes, and find success. xo ~e.

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