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College Budgeting
If you're a student entering college, this is probably your first taste of the "real world." That means that you'll most likely be responsible for managing your money and contributing to part, if not all, of your living expenses.

To help you keep track of how much money will be coming in and going out during a standard two-semester or three-trimester school year, use our budget worksheet, designed especially for students in college.

Step 1: Your Income

Most college students have money coming in from several sources at different times. Funds from loans, scholarships and grants are released at the beginning of each semester or trimester, whereas money from your parents or your paycheck might come in at least once a month.

Projected Monthly Income:
Job: $
Money from Parents: $
Other Income: $
Total Monthly Income:
(9 Months)		 $
Semester/Trimester Income:
Semester                 Trimester
Scholarships, Grants or Loans: $
Other Income: $
Total Semester/Trimester Income: $

Total Projected Income for the School Year:
$

Step 2: Your Expense

Do your best to estimate the following expense:

Monthly Living Expense:
Food(eating out, snacks, anything not on your meal plan) $
Rent, if you're living off campus $
Utilities $
Transportation
(car payments, bus passes, or taxis)		 $
Gas $
Telephone $
Entertainment
(movies, nights out)		 $
Clothing $
Personal Items
(shampoo, toothpaste, etc.)		 $
Laundry $
Prescriptions $
Other $
Monthly $
Total Annual Living Expense (9 Months) $
Expense per Semester / Trimester:
Semester Trimester
Tuition
 $
Books
 $
Room & Board (if you're living on campus; includes dorm and meal plan) $
Parking Permit
 $
School Supplies
 $
Health Insurance
 $
Car Insurance
 $
Moving Expenses at the beginning
and end of the year
 $
Organization Dues/Social Fees
 $
Other
 $
Expense per Semester / Trimester
 $
Total Annual Expense $
Total Expense for the School Year: $

Step 3: Analysis

Did you stay within your budget? Compare your projected income to your projected expenses.
Projected Income $
Projected Expenses $
Amount under or over planned budget $
If this amount is a positive number, you stayed within your budget! But if it's a negative number, you need to take another look at your estimated income and expenses. You will have to find ways to reduce what you're spending or earn more money. Look closely at what you're spending and see where you can save.

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