Have you noticed your money is running low lately? If so, that is probably because it is nearing the end of the school year. Money doesn't grow on trees, so finding ways to save when you can is probably the best way to go about things. From my own personal experience I have found budgeting difficult to do, but once you get it down you will find that everything will be a lot easier.
To start things off, you should understand your "income". Whether you are receiving
money from the government, living on a student loan, living off of your parents money or working through school you will need to figure out how much money you will have left until you are home for summer. Once you have either the real number, or an approximation, sort out how much all of your "
fixed expenses" are.
What I find works best for me is to figure out how many months I will be living on my school "salary", and then divide it so that I know how much money I will have for each month. Once that is done you can subtract your fixed expenses from each month. This should leave you with a good idea of how much you should allow for things like groceries, toiletries, household items, going out, and anything else you might need/want money for.
Figure out what works best in those categories, and you should be set to easily enjoy the rest of the school year! This method worked out great for me during my first year of college, so if you are going into school next year, or just want to balance your budget for the end of this one, try it out!!
For those who are visual learners,
here is a great calculator I found from RBC
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| Who doesn't want to feel rich?! |
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