The sad truth is that lots of times when kids leave the foster care system, we've got very little money, and the little we have we don't know how to save. Too often when we age out we wind up broke. In the worst cases, we end up homeless. So saving is something we all need to start thinking about now.

We interviewed Kerrie Toole, a social work intern at Green Chimneys, our group home, to see how budgeting really affects your life. We figured that since she was a financially strapped student, she would know a few things about how to live on a tight budget. She had some really good insights that could help us save our money now and when we get discharged from care.

Q: Why do you budget your money?
A: Because I have no income right now, and only $1,000 to my name. Plus, I'm in debt by $60,000, which I'll need to pay back $600 each month after I graduate social work school.

The money I have right now I earned by working two full-time jobs (80+ hours a week) during the summer so I could have enough money to last me through the school year. I spend $523 a month on rent, but that's paid for by my loans. Out of my own savings I spend about $60 a month on transportation, $50 to $60 a month on food, and about $50 a month on my telephone bill. That leaves me about $100 a month for savings or any extras I might need.

Q: How did you get into so much debt?
A: I'm going to graduate school and schools have to be paid, so I had to take out loans. School's expensive, but I think it's worth living on a budget for now because in the end I'm going to be getting a higher paying job because I went to school.

Q: How do you decide what's necessary for you to have and what's not?
A: The necessary things are the basics. I have very basic makeup—one mascara, chapstick, cover-up, moisturizer. That's it. My clothes are basic, too: mostly jeans and shirts that I bought on sale. And I'm too busy with school to have much entertainment. I watch TV at home, and that's free, because I don't have cable.

I eat dinner out once a month, because eating out once can cost as much as I'd normally spend for an entire week. Otherwise I spend $20 to $30 every two weeks on food. I eat lots of pastas and rice because those are the cheapest foods and they are filling. A dinner of pasta and sauce can cost only $2. I also buy chicken or pork and stick it in the freezer for later, and usually I eat a little vegetables on the side. Sometimes it does get tiring to eat these foods. If I had money I'd have salmon.

Q: Do you have a system for finding the lowest prices?
A: When you're shopping for things you need you can compare prices, and buy the cheaper things. Sometimes, though, the cheaper thing doesn't work so well. When that happens, I know not to buy that brand again. But usually the store brand is very similar to the name brand product.

Q: Do you decide how much you're going to spend before you go to the store?
A: I go to the store with a limit in my head. I'll say, "I'm only going to spend $20 and that's it." Whether or not I spend that limit I won't know till I get to the store, because sometimes I spend less. I do the math in my head before I get to the check-out so I know I don't over-spend.

Q: Where do you shop?
A: I shop at Old Navy because it's cheap but fashionable. I also shop at bargain stores like Filene's Basement. I bought my boyfriend a $170 Ralph Lauren watch there for $30.

Q: How much do you spend on your hair? Where do you get it done?
A: For my hair I buy Suave, which is cheap but good. It's $1.20 per bottle. (Most other shampoos cost $5 or $7 a bottle.)

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