Free College Budget Management Spreadsheet
DESCRIPTION:
In college, the way you manage money will affect your financial future. Many students incur too much credit or loan debt and begin careers with a poor credit reputation-which can affect the decisions landlords, employers, insurance companies and other businesses make about them. To avoid future financial problems, make sure you understand and practice good money management skills now.
Here are some of the tip and we think it will be very useful for your manager your money during your college years.
If you have been saving money to pay for college, keep it up. Saving helps you prepare for being on your own. Here are some tips for making it a lifelong habit.
- Pay yourself first. As soon as you receive a paycheck, allowance or financial gift, save a portion. Financial planning professionals recommend saving at least the first 10 percent to 15 percent of your net income. The important thing is to set aside as much as you can afford to save.
- Think of saving as a bill you have to pay.
- Collect loose change. Empty your pockets at the end of each day, and put the change in a container. Every few months, deposit the change into your savings account.
Before you buy anything, determine if you really need it, or if it is available for less. Think about the difference between your needs and your wants. You need to eat and spend time with friends, but do you need to spend money on after-class trips to expensive coffee shops or dinner at restaurants?
Know where your money goes. Add up everything you spend for a month and keep track of what you buy. You may be surprised how much you spend and on what things. By doing this exercise for a month or two, you may discover areas where you can cut back and save money.
If you use it, a budget puts you in control of your money. It is a tool for knowing where your money comes from (income) and planning where it goes (saving and spending). Use our College Budget Work Sheet to create your own personal budget.
Following a budget is not easy. It forces you to make choices about what you will do with your money - without letting you spend more than you have. It also helps you get the most out of the money you have. Once you create a budget, follow your plan. Do not spend money on things that are not included in your plan unless you are willing to substitute another item for it. Adjust your plan if it is not working.
SYSTEM REQS:
Our software runs on any version of Microsoft® Excel® from 97-2016.
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Here is a College Budget Work Sheet, hope it helps on managing your college spent well and wish you have a great college years! College Budget Work Sheet from SpreadsheetsBuilder.com (ZIP file) |