Managing expenses in college can be challenging. Often times you find out you have overextended yourself by not realizing what money was left after books, tuition, and other expenses were paid. This free, downloadable college budget template can help you stay on track where your money is concerned. It also shows you where and how much each expense is and what is left after the bills are paid.
College Budget Template: Tips for Staying on Track
Most people going to college are on a fixed income. This includes money from part time jobs, school loans, or savings used for college. Money is typically tight and has to be budgeted out to ensure all necessary expenses are paid before fun money can be used. Using your money wisely can result in smaller debt after graduation.
In order for you to fill out your college budget template correctly, you need to sit down and write down all necessary fees associated with your college life, such as:
- Supplies for classes.
- Toiletries. (Shampoo, soap, toothpaste, and etc.)
- Rent and utilities and or dorm expenses.
- Groceries and or meal plans at the college.
- Transportation if you live off campus.
- Book fees and tuition.
- Laundry (detergent and money for laundering clothes)
- Medical expenses
Sit down and calculate the cost of each and enter the amount in as well as what the money is used for in to the college budget template. After each item is entered and the amount, add in total monthly income. Then subtract the pay out with what is coming in. This is where you get your fun money.
With what is remaining after all other necessary expenses are made, you can use that for entertainment purposes. The college budget template helps you stay on track with what has to be paid and also gives you the allotment for entertainment. If you find that you are running short after loans, grants, and other money is used. You can cut back and save in the area of entertainment.
Always scan the local paper for free entertainment such as concerts in the local parks. That way you can save your funds plus get a much needed break from college life.
Download: College Budget Template
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