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Creating a workable budget while in college can help you:
Here is a link to an Excel spreadsheet for you to use to track your spending. The Excel link will allow you to download a copy of the budgeting sheet to use to track your spending and income.
Income increase. Did you take on a part-time job or gain a reliable new income through other sources? Make the most of your new income by paying down credit card debt or adding money to a savings account. If you don’t have a savings account, now is a great time to open one. Visit Banking Your Money to learn more.
Income decrease. Losing a job, a scholarship, or other income source forces you to tighten your spending. These steps can help you adjust your budget without cutting out entire spending categories:
For example: Let’s say you choose three different spending categories for trimming
expenses. If your monthly income reduction is $150, you would divide that amount by
three, for a spending-reduction target of $50 for each category.
Then, subtract your targeted reduction from the existing “budgeted amount” column in each spending category in your spending plan. That’s the maximum amount you can now spend in each category and stay within your budget.
Ready to start building your personal budget? Try the Budget Wizard. After creating your budget in the Budget Wizard, you can log in to access and edit your budget at any time.
Information provided by CashCourse, www.cashcourse.org
Budgeting for Life After Graduation
What happens with money after graduation?
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