Successful Budgeting

Keys to Successful Budgeting

 

Step 1: Not simply to make a budget but to use critical thinking and analyzation. Ask yourself these questions. What are the highest priorities in your life? What’s most important to you? What kind of life do you imagine for yourself?

  • Your priorities are personal
  • Successful Budget is your deepest-held priorities

Make Small Lifestyle Changes

  • Work towards attainable goals
  • Increased confidence

Track Yourself

  • Nothing compares to feeling a sense of accomplishment.
  • Build milestones into your budget so that you can have the satisfaction of hitting your goals.

Step 2:

College Student (18-25) Budget Worksheet

 

  Monthly Annual Total
Income    

 

Wages
Gifts
Allowance
Financial aid
Other
Total Income

 

  Monthly Annual Total
Expenses    

 

School expenses
Tuition
Fees
Books
Supplies

 

Lodging & utilities
Mortgage/Rent
Water bill
Energy bill (gas and electric)
Homeowners or renters insurance
Other

 

Debts
Student loan payments
Consumer debt payments (credit cards)
Other

 

Charitable giving
Faith organization
Community organization
Other

 

Transportation
Car payment
Car insurance
Gas
Car maintenance/repairs
Public transportation
Parking
Other

 

Communication
Cell phone monthly plan
Internet
Communication devices
Other

 

Entertainment
Movies
Electronic devices
Video games
Concerts
Eating out
Going out with friends
Entertaining friends
Other

 

Personal Expenses
Personal products
Clothing
Salon services
Other

 

Food/household expenses
Groceries/Meal Plan
Household goods
Other

 

Gifts
For friends
For family

 

Medical expenses
Medical insurance
Doctor co-pays
Prescriptions
Other

 

Pet expenses
Veterinary expenses
Food
Boarding
Other
Total Expenses

 

  Monthly Annual Total
Savings    

 

Long term goals
House
Car
Other

 

Short term goals
Vacation
Other
Total Savings

 

 
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