Budgeting
Budgeting, as a college student, is an art within itself. How are we supposed to live on our own, have our own freedom, AND manage our wallets?
Here are some tips that help me budget and stick with it!
1. Make a Game Plan
Especially for first-year students, it’s beneficial to sit down and create an overall plan for your finances. Even if your parents are helping you with school, it is still helpful to have a plan to visualize what money is going where.
In my freshman year, I made an appointment with the financial aid office to layout my finances on an Excel sheet for the school year. This covered grocery, school, clubs and orgs, and even fun expenses. I contacted the financial office and set up an appointment! Here is a link to a Tracking Expenses worksheet provided by the University.
2. Estimate Monthly Expenditures
Estimating what you spend per month may be challenging, however, not impossible. Think about it. Honestly, set aside expenses for beer on the weekends! The necessities and items you purchase for fun are all apart of your monthly expenses.
Overall, it’s essential to create a plan for your finances in college. These are just a few tips that have helped me over the last few years.
Let me know if these tips help! And leave tips that have helped you in the past.
4 Comments
Nadia Foltz
Hi Breanna!
I loved this post because I think it is very important for budgeting! I work and pay for rent and other things I want all by myself. You had some good tips, I did not know the financial aid office created an excel sheet which I think is amazing. I do agree you need to have money for spending on whatever you want because we do deserve some fun and enjoy the little things we can get with our money.
Lindsey Buchanan
Hi Brianna,
I loved this post! I think budgeting is very beneficial and its definatley something I need to start doing… I find myself spending more than I should on miscellanious items when i could be saving money by budgeting! Thanks for the encouragement 🙂
Lauren Foster
It’s so true that in college budegting is an art within itself. This would have helped me last year when I was a freshman, but now I always estimate my monthly expenditures.
Brianna Olstad
I wish I would have recognized the importance of budgeting my freshman year too. It is a crucial way to stay destressed!