Budgeting

Create a spending plan

Office of Financial Aid and Scholarships

 

Creating a budget helps you develop good financial habits, plus an awareness of your spending.

Budget Tips:

  • Create a budget that thoroughly tracks your expenses and income.
  • Be realistic about your expenses.
  • Spend any balance left from loans responsibly on education expenses.
  • Update your budget periodically. 
     

Budgeting Questions: 

  • Do your expenses exceed your income? Watch this video. Ask yourself if you have time to work, or take on a few more hours at your job. Use your campus meal plan before eating out with friends. If you live off campus, consider cooking at home and carpooling with others. If you live on campus, think about a shared room instead of a private one – it usually saves you money.
  • Do you have a credit card? Here is a video for you. Remember not to spend money that you won’t be able to reasonably repay within a limited amount of time. Monitor interest rates, and make your payments on time.
  • Do you understand debt and borrowing money? This video will help you. Debt is money you agree to pay back. When you borrow money, think about debt – as well as your income or potential income once you graduate from college.