Money in Order: Basics for a Young Baal Habayis געלט אין ארדענונג: יסודות פאר א יונגן בעל הבית

A young baal habayis has many expenses: rent, food, tuition, Shabbos and Yom Tov. When you don't know where the money goes, the end of the month arrives with a fright. Here are four basics.

1. Make a Budget

The CFPB (Consumer Financial Protection Bureau), the U.S. government's consumer agency, writes that a budget is a key step toward getting a handle on debt and saving. Their order:

1. Where does my money come from? Record all income.
2. Where does my money go? Log your spending. If it feels like too much, start one week at a time, with your receipts.
3. What are my bills and when are they due? Sometimes the problem is that bills and income don't come at the same time.
4. Put it all together into a working budget.

2. A Fund for a Hard Time

The CFPB calls it an "emergency fund": money set aside only for unplanned expenses — car repairs, home repairs, medical bills, or a loss of income. Without savings, they write, even a minor shock can set you back, and if it turns into debt it can have a lasting impact. Even a small amount provides security. A good tip from them: set up an automatic transfer each week or payday.

3. Care with Credit Cards

According to the CFPB, on most cards you can avoid paying interest on purchases if you pay your balance in full each month by the due date. The rule: use the card like cash — buy only what you can pay off by the end of the month.

4. Maaser Kesafim

A Yid knows that the first "expense" in the budget is tzedakah. The Shulchan Aruch (Yoreh Deah 249:1) writes: if one cannot give as much as the poor need, he gives up to a fifth — that is the choicest mitzvah; a tenth is the average measure; and less is stinginess. The Rema adds that one should not squander more than a fifth, so as not to come to depend on others himself.

Ask a rav how to calculate maaser from your income, and write it into the budget as a fixed line. Maaser with a plan — and the bracha comes from Above.