Budgeting - Iowa College Access Network - ICAN

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).

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