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.
Expense Type Per Month Per Quarter Per School Year
Wages
Money From Home
Financial Aid
Savings
Total      

 

Fixed Expenses

List expenses that are not easily adjusted.
Expense Type Per Month Per Quarter Per School Year
Rent
Auto Payment
Insurance
Loan Repayment
Tuition
Other School Fees
Other Expenses
Savings For Goals
Total      

 

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.
Expense Type Per Month Per Quarter Per School Year
Groceries
Dining Out
Clothing
Entertainment
Transportation
Phone
Electricity, Gas, Water
Cable TV
Internet Access
Medical/Dental
Sports/Hobbies
Books
Other Expenses
Total      

 

Totals

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.
Expense Totals Per Month Per Quarter Per School Year
Total Income      
Total Expenses      
Over or Short      

Failure to plan is a plan to Fail!