Dave Ramsey once said a budget is telling your money where to go instead of wondering where it went. And this is crucial for every college student. You as a new college student, need to have a college budget prepared so that you know how to manage your finances between your education and your other expenses.
6 Steps to Create a College Budget
Step 1: Determine College Education Finances
The first step in creating a college budget is to determine how much finances have been allotted for educational purposes. This includes your college fees, extra tuition fees, hostel fees, and others as necessary.
Step 2: Determine Everyday Expenses
Next, you need to make a list of everyday expenses that will be and could be incurred. This includes two basic costs: everyday traveling costs and money spent on food. It also includes the rent of the place you will be staying at if there is any.
Step 3: Anticipate Emergency Expenses
Emergency expenses are something that you cannot determine at the moment such as accidents. But you have to at least anticipate them and make a different list.
Step 4: Determine the Income
After determining all the expenses that will or could be incurred, you need to know how much money is or will be available with you. If you will be working on a paid job during your college, you need to add the salary to this list.
Step 5: Prepare the Budget
Prepare the budget by making lists of your earnings and all your expenditures, side by side for comparison. The budget should be such that your expenses don’t exceed or even parallel your earnings so that some savings can also be made. The savings list should be separated from the other lists.
Step 6: Follow the Budget
The last and most important step in budget creation is for you to follow the budget and stick to it. Otherwise, the whole point of creating the budget is rendered moot.
15+ College Budget Templates
1. College Budget Template
After graduating from high school and before joining your new college, the most significant thing you need to do is to create a college budget. But doing so can be a tedious task. The College Budget Template is here to lessen your burden. Download this budget template in Word now to avail of it.
2. College Student Budget Template
It can be frightening to prepare to join college particularly when you have to think about cash. But you can figure out how to make it work with adequate planning and this College student budget template. This file is available to be downloaded in all file formats, and you can customize it according to your convenience.
3. College Student Budget Worksheet Template
Ticked off all the checkboxes on your new-college-life to-do list but still wondering how to manage your income and your expenditure? Don’t worry because the College student budget worksheet template is here. This customizable and editable file can be downloaded on the go using any operating system and is pretty easy to use.
4. Free College Budget Template
This free budget template is the solution to all your college finance problems. Download this template to avail of a ready-made template document that you can download and customize instantly. All you need to do is fill or replace the blanks as necessary.
5. College Budget Planning
If you are one of those people who have never previously managed their own cash, preparing a college budget may seem like a rather exhausting effort. But not to worry, the College budget planning template can assist you and curtail your difficulty.
6. College Budget Worksheet Template
The College Budget worksheet template is here to assist you as a new college student to get off on the right economic foot. Download this template in PDF form now to help you make your college budget. This file is also fully customizable.
7. College Budget Example in PDF
Worried about balancing your personal and your professional expenses while starting a new college life? Avail of this College Budget example in PDF. This free budget template provides a sample to follow on how to create a college budget.
8. College Operating Budget Template
When starting a new life in college after high school, preparing a student budget can help you set a goal for both your earnings and your expenses. Use the College operating budget template to assist you in the process. You can download and customize this file as you want.
9. College Annual Budget Template
If you want to graduate from college debt-free, it is mandatory for you to create a college budget. But you don’t have to create it from scratch if you use this College annual budget template. This file can be downloaded in PDF format.
10. College Annual Budget in PDF
The College Annual Budget in PDF is the perfect tool to use when making a proper college budget. Download this file in PDF format in any OS. The file is also editable.
11. Simple College Budget Template
A budget can not only help you organize your finances but also can show you how to plan your time efficiently. The simple College budget template can be of great assitance here. Just download the editable file and you’re good to go.
12. College Final Budget Template
The College final budget template featuring revenue resources, allows you to see the whole picture including your earnings and expenditures. Use this template to plan and create your college budget. This sample college budget is also customizable and easy to use.
13. College Budget Template in PDF
It has been said that budgeting is the first step to financial freedom. And for you as a college student to achieve it, you need to create a budget first. Download the College budget template in PDF format now to help you in this task.
14. Annual Budget of College
As a college student, you need to know how to control your money and balance it between your personal and professional economies. And the annual budget of College is the apt tool to use in this case. It is downloadable in all operating systems and can be edited.
15. University Operating Budget
A budget makes you learn when to say no in financial situations. That’s why every college student needs to make a college budget. And this University operating budget is the perfect tool for it. This sample budget template can be downloaded and edited on both Mac and Windows OS.