If your parents gave you an allowance as a kid, then you probably remember the anticipation of “pay day.”

As an adult and Chico apartment dweller, you probably still look forward to payday from your employer. The only problem is that the word “allowance” has been replaced by “budget.”

As a kid, if you spent all your money on candy and magazines in one day, then you blew your allowance. Likewise, as an adult, if you spend all your money on coffee and take-out dinners, then you blow your budget.

How did this act of attrition happen? Maybe it's a rite of passage, but the lesson remains the same: when you spend all the money you have, you've blown it until your next pay day. You can make your money last – and stick with your monthly allowance or budget – when you follow some sensible planning, spending and tracking tips recommended by financial advisers (who were kids once, too):

Plan Carefully

Chart your monthly expenses on a spreadsheet or budget worksheet (after reading our article, Create a Budget for Your Chico Apartment in 4 Simple Steps). Every good move that follows begins here. Play it safe by factoring in a 10 percent cushion on expenses.

• Give yourself a realistic weekly allowance, just like your parents may have done with you. Factor in an occasional treat or indulgence, but when the money is gone, reconcile yourself to it being gone.
  
  
• Pack lunches and eat as many dinners at home as possible to reduce the huge expense of eating out. Buying enough groceries for a week requires menu planning, but there are thousands of recipes online that will show you, for example, how to create several meals from one broiler chicken that requires little more than some seasoning and three hours in the oven.

Spend Wisely

Make your first spending move an investment, whether it's a money market fund, 401(k) or IRA. “Paying yourself first” should always be the top priority because this money accrues interest.

• Accelerate your efforts to pay off high-interest debt. The interest rate you may be paying on loans and credit cards will defeat your savings efforts at every turn – until you pay them off.
  
  
• Build an emergency fund. Nothing will blow your budget more than an unexpected expense, layoff or health problem. Build a reserve large enough to cover six months of expenses.
  
  
• Pay cash whenever you can to keep spending top-of-mind. More than plastic, cash is a tangible representation of your hard work. As a result, it may be more difficult to part with, too.
  
  
• Keep receipts of your purchases so you can track them at the end of the month.
  
  
• Research big-ticket items online before buying. Warehouse stores usually offer compelling deals while other sites that offer free shipping can save you both time and money.

Track Attentively

• Spend at least 30 minutes reviewing your receipts and bills for the month. A picture will begin to develop of where most of your disposable income is going. This is a prime time to look for ways to save, cut back or cut out.
  
  
• Use an app to help you stick to your monthly budget-allowance. As easy as it is to run a budget off the rails, it's just as easy to realign it – if you want to. Plus, if you dislike paper and gravitate to colorful graphics, an app might infuse your budgeting efforts with more fun than you've had since you were a kid.

Nobody ever says, “I wish I hadn’t created that budget” but people are often faced with buyer’s remorse or frivolous spending that leads to debt. It’s never too late to start budgeting for your Chico apartment lifestyle. You’ll have peace of mind and money in the bank!