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Budgeting Worksheet

Make a Spending Plan to Meet Your Financial Commitments

Tip #31 in the free booklet 40 Money Management Tips Every College Student Should Know advises that one of the best ways to keep track of your money is to use a spending plan or budget. Budgeting is a helpful tool to avoid falling into too much consumer debt. Print the worksheet out, sharpen your pencil, and spend some time with your finances to set up your financial plan.

 


Income -- list your sources of income

 

Per month

Per quarter

Per school year

Wages:

 

 

 

Money from home:

 

 

 

Total:

 

 

 

Financial Aid:

 

 

 

Savings:

 

 

 

Subtotals:

 

 

 

 

Fixed Expenses -- list expenses that are not easily adjusted

Item

Per month

Per quarter

Per school year

Rent:

 

 

 

Auto payment:

 

 

 

Insurance:

 

 

 

Loan repayment:

 

 

 

Tuition:

 

 

 

Other school fees:

 

 

 

Other expenses:

 

 

 

Savings for goals:

 

 

 

Subtotals:

 

 

 

 

Variable Expenses -- list expenses that are easily adjusted. These expenses are a good place to look first for reducing expenditures when striving to remain within a spending budget.

Item

Per month

Per quarter

Per school year

Groceries:

 

 

 

Dining out:

 

 

 

Clothing:

 

 

 

Entertainment:

 

 

 

Transportation:

 

 

 

Telephone:

 

 

 

Electricity, gas, water:

 

 

 

Cable TV:

 

 

 

Internet access:

 

 

 

Medical/Dental:

 

 

 

Sports/Hobbies:

 

 

 

Books:

 

 

 

Phone Service

 

 

 

Other expenses:

 

 

 

Subtotals :

 

 

 

 

How does the budget look? Does your income support your expenditures? If not, look for places to cut back on expenses and increase your income.

 

Per month

Per quarter

Per school year

Total Income:

 

 

 

Total Expenses:

 

 

 

Over or Short:

 

 

 

 

Failure to plan is a plan to fail.

 

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