By building a budget, you may realize you are financially better off than you thought or you might discover you need to get a part-time job to bridge the gap between income and expenses while you are in school. Either way, a college budget puts you in control, teaches financial management skills and helps you avoid the serious consequences resulting from poorly managed personal finances.
Create a College Spending Plan
Types of Budgets
Online Budget Managers:
There is a free electronic budgeting tool at Get Money Smarts that allows you to do either a monthly budget or semester budget. At this site you can enter each of your transactions and categorize them into the category you choose. The site will then form a budget for you based upon what you entered and displays your excess (or shortcoming).
Budgets on Excel:
Excel budgets can give you control over how your budget is constructed and the outputs it gives while still doing the arithmetic for you.
Paper and Pencil Budget:
Have a hard time making your Refund Check last the entire semester? Can't seem to keep track of your money so you can pay your Deferred Payments? This may be the budget form for you!
Come to Financial Wellness in Student Central for more information and tips on managing your budget.