Budgeting as a college student

Budgeting as a College Student Expenses What are we here to learn? Managing Debt Budgeting Saving for
Big Expenses Stretching Income How much you spend is more important than how much you earn Living within your means: Finding Balance : What can I spend? Level of income Living Expenses Cost of Attendance Budget What choices do I have? Where is my money going? Where does my money come from? Income Importance of a budget 1. A list of INCOME (+) and EXPENSES (-) Expenses Essentials Non-
Essentials HDTV
Video games
DVDs
Sound Systems
Credit Card(s) The more you know about where your money comes from, how much you have to spend, and where you spend it, the easier it is to make wise spending decisions. In this way, your money works for you instead of against you. Loan Repayment Schedule Helpful Budgeting Tools Online Banking
Mint.com

Budgeting and Cash Flow forms:
www.jmu.edu/finaid/wm_library/BudgetWorksheet.xls 2. A PLAN for meeting responsibilities and financial goals can be
REDUCED! Non-Essentials Content Developed and Presented by UMF Campaign for Financial Literacy
Peer Financial Assistants

Jeremiah Roper Silas Lunetta
Meridith Berthelette Kyle Manning
Leona Kluge-Edwards
Matt Towle So how do we balance Income VS Expenses? Setting Financial Goals 1. Income
2. Spending
3. Saving Financial Zen Spending Income Saving Budgeting
Goals Food
Housing
Tuition

What are my costs and what can I afford to spend outside of my necessities(for fun)? How much money will I make/receive each month?

Where will it come from?

How much more do I need?
(and how can I get it?) How much money is left in my budget each month?

What portion of that can I realistically save?

10% of my income? Tips for Managing Money: Be prepared for the unexpected Use the resources available to you! Don't let friends decide your
spending habits A great tool for creating a budget can be found on Mint.com. The versatility of Mint's holistic view of budgeting makes saving money easy in a world where your savings and expenses can change in a matter of minutes. Set your goals Michael J. Angelides -Program Coordinator Now that you know whats
left over, what should you
use that extra cash for? How to avoid exceeding your
means (running out of money) Are you making enough money
to support your lifestyle? Where is all that income going?