4 answers

What tips do you have for creating a monthly budget to keep track of expenses in college?

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For instance, how would you organize a budget and what information would you include to make sure that you are on track and budgeting income and college expenses effectively? #finance #budgeting #tips

1. Use a spread sheet and label wants vs needs and then categorize; typically you "need" to cover cost of tuition, rent, groceries, book/supplies, transportation; the "wants" are usually new clothes, eating at restaurants, impulse buys off amazon, etc. Try to put estimate prices and then total it up and compare it to your monthly budget amount. 2. Apply for scholarships. You can meet cool sponsors who give great advice, and earn grants. This website helped me with tuition, so I will help you out since I'm fully covered now! https://www.goingmerry.com/c/caitlinp-l0dy 3. Invest and save you hard earned money https://www.sec.gov/investor/pubs/savings-investing-for-students.pdf 4. students get great deals! google "Uniday" Caitlin P. Translate
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Tiffanie Love’s Answer

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I started budgeting by just using ledger paper when I was a kid, to keep track of money received and ways I spent it. I was a born this way. I started by just listing the money I had and adding and subtracting the money I received or spent. In time I set up limits to what I thought I would spent each week or month. It helps to begin by tracking your spending habits for a month before starting a budget, then you can set budget based on realistic habits. You may want to begin by reducing the amount of money you spend snacking for example. You can also set up more than one budget, if you're saving for something specific, this is how I bought a bike once. Later I started doing the same thing in Microsoft-Excel (you can ask questions here on how to use this as well), but today, you can do all this using a very a secure application called Mint. You can download it from a smartphone store or use it right on the internet using Mint.com. Happy budgeting.
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Prentice’s Answer

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Keep track by constantly tracking spending habits. Most banks have a mobile app so you are able to check within seconds. With this you can also check for any monthly reoccurring costs that you may not actually need. Sure keep Netflix but the subscription to cologne may no longer be needed.
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Sarah’s Answer

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Budgeting is hard to start, but easy once you get the hang of it. Before your money even hits your account, sit down and "spend" it - this means planning where every single dollar will go. Make sure to account for food, rent and other expenses, but also for savings and paying off any debt you have. Then, stick to it! Use an app to track it - Mint is a good one, so is Every Dollar, or even a spread sheet on excel! This way you're able to be in control of what you can spend and where. It also means you may have to make some sacrifices. If you are saving up for something, you may want to put more money in savings and say, cancel your cable. Or maybe you will need to make your lunches at home. Having a goal is always a great way to motivate yourself to budget!


Good luck! You got this!

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Carlos’s Answer

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There are a lot of free phone apps, that help with this, they tell you exactly what you need to add, and some if you allow them too can connect to your bank account and track your spending.
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