Reasonable Spending + Responsible Saving = Peace of Mind
Creating a budget can be intimidating. Rest easy, it’s not as hard as it seems. The real challenge is sticking to it. Here are some helpful tips for creating a budget that works for you.
Average monthly living expenses according to the U.S. Department of Labor:
* Note: As a college student, you may not have all these living expenses.
Start by tracking what you spend over the next couple of weeks. Log every penny that comes in and leaves your wallet and bank account. This will allow you to see where your money is going, helping you identify any unnecessary purchases you may be able to eliminate from your budget.
Once you've tracked your spending, we encourage you to meet with a Peer Coach to create your budget. Schedule your Peer Coach appointment today.
Determine your Income
Make a list of all income that you receive directly. This could include wages, work-study, family help, food stamps or any other source of income.