Budgeting

It's easy to lose track of where your money goes as a college student. Small daily purchases add up quickly, and you have those large expenses – tuition, housing, food, books and other bills. Knowing exactly how much money you have and how you plan to spend it gives you control over the situation. That's where a budget comes in.

• A budget can also help you:
  • Know if you're spending too much on certain things.
  • Stay out of financial trouble.
  • Avoid impulse spending.
  • Set and reach financial goals.
• A budget is created in three simple steps:
  • Track your income and expenses for one month.
  • Subtract your expenses from the income. Think about the result – are there areas where you can cut costs?
  • Maintain your budget on a monthly basis. Keep looking for ways to reduce spending or increase income.

Use an in-school budget calculator to figure your budget or download the Achieve Financial Success booklet (PDF).