4 answers

How do you make a budget in college?

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I find it really hard to make a budget. #saving #budget

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100% of 3 Pros

4 answers

Blake’s Answer

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Hey Claudia,

There are many, many apps that can help you budget. I am pretty old school and I do it in excel. What you need to do is map out everything you spend your money on first, so you can see if you have any opportunities (i.e. you eat out at restaurants 5 times per week, maybe try cooking one of those days). The main thing about starting to save, is that you don't need to save outside of your comfort zone. Whatever you feel you can comfortably save each week do that, but stay consistent and don't withdraw the money. Even if it's a dollar a week, it will get you in the habit of saving. After a while, it will become easier and easier to save.

Thanks,
Blake
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Judson’s Answer

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I personally use mint.com and find it very useful. It will track all transactions from linked accounts so it's very easy to understand where you spend your money. Also has a great budgeting tool that I love. There's an app that is good on the go, but the PC version has more functions. It's free, just have to deal with ads. I love it and use it almost everyday for tracking and to stay on budget.
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Carlos’s Answer

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There are alot of free apps that help with this and not only will they help with budgeting but you will increase your financial literacy.
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Dr. Fonda’s Answer

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Try using a budget program on your computer so you have a visual on how much money you have coming in and where you are allocating money.

Dr. Fonda recommends the following next steps:

  • Use a computer program to make a budget and follow follow the plan daily.
  • Have you heard of the envelope budget? You put money in a separate envelope for what you are going to spend on for the month. If you run out of money in one envelope and need more, you can borrow from another envelope you have extra money inside. When you have extra money at the end of the month put it in savings.
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