You want to add up your total income and subtract your total expenses. Once you’ve gathered all of this information, it’s time to do some math. It’s also a good idea to set aside some money each month for emergency purposes. Recording your spending can be eye opening, but this is a great way to find areas where you should be cutting costs. Don’t forget those Starbucks runs too! You’d be surprised to see how fast they can add up. This means you need to keep track of tuition and fees, books and supplies, room and board or housing utilities, groceries and restaurants, personal care items, transportation, clothing, and entertainment. Your expenses list should include everything from school to personal. Your sources of income should include all scholarships, grants, work-study, savings, contributions from your parents, and income from your job. Keep track of all of your expenses and sources of income for a month. ![]() ![]() To create a budget you need to first figure out where your money goes. By starting a budget now you will be able to have a great college experience at an affordable price, and you will also be able to live comfortably in the future thanks to you learning these valuable lessons now. ![]() Going on a budget may seem like a daunting task or you may think that it will get in the way of how you already live, but this is not the case.
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