student financial budget planning template

Whittle away those expenses you don’t need, and you’ll have extra money to spend on things you truly want. Or perhaps you have an unused Netflix subscription. For example, you could try and eat out less! From there, you might discover at least a few expenses you can cut out right away.įor example, students spend an average of $547/month on food-yet it’s possible to cut that by a large amount without going hungry. You can see exactly where every dollar is going. But then you look at that card statement or your bank account and realize those small-dollar purchases add up fast.Ī budget lays out all your expenses in front of you.

It’s easy to spend a little bit of money here and there on things you don’t really need or value-especially if you’re putting it on a credit card. Here are a few reasons you should consider making a student budget as soon as possible: Helps you find expenses to cut It’s also a plan-it helps you decide where money should be going. Here’s why you need a student budget ASAPĪ student budget is a map of where your money goes each month. You’ve already got enough to deal with-a student budget gives you a clear picture of your money to reduce your money stress and minimize debt. Without a budget, it’s pretty tough to juggle these all stress-free. Then, you have groceries, transportation, dues for any clubs you’re in, and a little bit of fun money, too. You spend around $10,000 a year just for room and board. Budgeting sounds like something you don’t have to worry about until you have a steady paycheck, but college students arguably need them more.Īfter all, students spend plenty on tuition, fees, and supplies-and many use student loans to do so.īut you also have daily living expenses to handle.

Student financial budget planning template