Budget tips

Unexpected expenses are inevitable.  You may be driving home today and get in fender-bender.  You'd have to shell out $500, or whatever your insurance deductible is, to repair your car.  This isn't something you expect to happen, but you should plan for it nonetheless.  To do this, stick $20 or $40 (or $100) out of each paycheck into an "Emergency" envelope.  Over the course of a year or two, you'll build up quite a cushion in that envelope.  This will be a buffer against unexpected expenses.

Once you really get serious about budgeting, most financial advisers recommend that you have a 3 to 6 month buffer in case you lose your job or are out of work for some reason.  This is a fantastic idea, and can be very useful.  Even if you never use it, sticking that money in a high interest savings account (like ING Direct) will earn some serious cash by just sitting there.  And you'll have the security of knowing you are not living from paycheck to paycheck, completely dependent on that next check to come in.