Dr. Fact, Dr. Faux, and the economy

Dr. Fact and Dr. Faux are local experts in many fields of life (or so they say). They have agreed to advise Purr readers who need help with all of life’s aspects.
If you need advice, write in by filling out the form from the Bengal’s Purr Instagram (@lhsbengalspurr). Your letter might be in the next Bengal’s Purr!
Note: Advice given in this column is from Bengal’s Purr writers and does not come from professionals in any way.
Before making any decisions based on this advice, please think through your actions.

Dear Reckless,
I think it’s safe to say that we’ve all been there. Dealing with money, especially in your high school years, can be difficult. From spending more than we should on a given day to long-term bad habits, learning to manage your money is vital. You should start with budgeting. If you have a job or receive an allowance, factor in the amount of money you receive and put it next to the amount of money you are spending. In this way, you have a greater perspective on just how much you can spend per month (or per pay period). If you find you are spending more than you are making, there are a couple of things you can do. There is the possibility of getting another job, or a higher paying one, but that does not teach you how to manage your money. I suggest that you make expense categories: savings, gas, spending money, emergencies, etc. If you are responsible for your car insurance or groceries, those are categories too. You may find that once it is all divided up, you have less money to spend, but that is okay. It just means that you need to adjust your spending habits to fit your steady stream of income. It can be tough, but I know you can get through it.

In wisdom and good will,
Dr. Fact

Dear Reckless,
Look, I get it. In this economy, prices are through the roof! Between gas prices being an arm and a leg and the price of eggs being equivalent to a house in Germany, it’s no wonder that money is flying through the window. How can we carelessly spend all of our parents’ money in these conditions? If you want to save money, do what I do and cut down where you can. For example, I can cut down the cost of rent by living in my mother’s basement. Through this financially efficient lifestyle choice, I can use the money that would otherwise go to housing to buy more Pokemon Cards. If you do not like that idea, there is another way to increase your cash flow: Take out a loan! Go to your local bank and ask the front desk people if you can have a couple hundred dollars. If they say no, curl up into the fetal position, start crying and hope for the best! In my case, when security comes to drag you out of the building, an older lady might come walking in the same general vicinity and throw a $20 bill your way! Anyway, I hope you find the money you want! If you ever want to send some cash my way, I have Venmo!

Good luck and good riddance,
Dr. Faux