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Frequently Asked Questions - How do I set a budget?

Developing a budget and sticking to it will allow you to live within your means and avoid financial crisis.  A budget will help you develop a realistic understanding of all your financial obligations and how they relate to your income.  In formulating a budget, you should consider the choices you've made regarding rent or mortgage payments, car payments, living expenses, and your student loan debt.

The following budget worksheet is provided to help you make a plan for managing your money.

Available Funds

Take home pay                   

Other resources                  

Total Net Income (A)          

 

Educational Costs

Tuition/fees                           

Books/supplies                    

 

Living Expenses

Room & Board                      

Health Insurance       

 

Total Costs (B)

A minus B = the amount remaining for other expenses.

 

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