![]() Many resources, including templates, calculators and apps, can help you reach your budgeting goals. Get creative, and you’ll be able to have the things you enjoy without breaking your budget. Instead of shopping for high-priced new clothes, host a swap with friends or search for unique finds on a secondhand site like Poshmark. Set yourself up for success: You can resist the temptation to order takeout on a weeknight by meal prepping and stocking your freezer with tasty meals.Allocating some money for treats or fun stuff can keep you motivated to stay on track because you won’t feel like you’re missing out on anything. Be flexible: While you want financial discipline, you don’t want to go overboard.You may find you can trim your expenses using this method. It seems like a psychological trick, but seeing the money being deducted can be more effective than using credit. Give the credit cards a break: If you tend to carry a balance on your credit card each month, it can be helpful to start using your debit card or cash to pay while adjusting to your budget.Getting in the habit of creating and maintaining a budget in college can make it easier to manage more complex finances successfully after graduation.Need a little extra help sticking to your budget? Try these tactics to stay on track. Now that you have more control of your money, you can be intentional about how you use and save it. Remembering to do so will help make sure you stay on track. Revisit and adjustĪs expenses and income change – say, your landlord raises your rent, or you receive a grant from your school to help with tuition – it’s time to revisit and adjust your budget. You can also save extra cash by opting to purchase or rent used textbooks instead of new copies. For instance, instead of spending money on dinners out, get your friends together to make a meal in the dorm. If it looks like you’ll run out of money before the semester is up, look at areas where you can cut back. If you have money left over, consider using it to boost your savings to cover any unexpected expenses. Do the mathĪfter totaling your income and expenses, determine how much you can spend on your needs for the whole semester, including visits home, class materials, and groceries. This tool allows you to view your spending and savings in easy-to-understand charts. ![]() To get a better visual, try using My Money Map. It’s helpful to separate your expenses into categories like housing, food, entertainment, education, etc. Then list your expenses based on your spending log. Include what you’re earning from your job or Federal Work-Study, your allowance, financial aid, and scholarships. ![]() Make a list of your income and expensesĪ budgeting worksheet is one way to document what you're spending and the money you have coming in. Consider using a budget tool like My Spending Report, Wells Fargo's online money management tool. Before you create a budget, keep a spending log for a month or two and record every penny you spend. The key to budgeting is being honest with yourself about what you’re spending money on. As a college student, this may be your first budget, so here are some tips to help you get started: 1. ![]() Here are a few budgeting tips to help you manage your money while in school and avoid unplanned debt later on.Ī budget can help you manage your spending to save for short-term needs – like books for the upcoming semester – and future goals such as a spring break vacation with friends. The newfound freedom of college life often puts you in control of your money for the first time. ![]()
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