Managing a budget is not as hard as it sounds. Making the initial commitment to live according to your budget is the hardest part. If you have done that, you are well on your way to wise spending and saving.

What is a budget?
It is simply a written plan for spending your money. You will spend your money; a budget just helps you to spend it wisely.

Managing your budget

Step One
Prepare a budget worksheet. You can make one yourself, or use a pre-made form. To make your own, just write down your income in one column and your expenses in another column, then compare the two.

If you would like to use a pre-made budget form, there are many already set up online.
Just print out and use:
http://studentlife.tamu.edu/ocss/special%20concerns/aggiebudget.htm
http://www.uheaa.org/budget.htm
http://www.asapubt.com/financial-aid/calculators/college.asp
http://www.bankrate.com/brm/news/special/20010425b.asp

You will learn a great deal about your financial situation by taking this first step. If you are like most people, you will find that your income is less than your expenses. You are now informed about it though, and can take the necessary action to change your situation.

Step Two
Start tracking your incidental expenses. You know where the bulk of your money is going, but what about all those little extras? This is a very important step if you are serious about finding ways to stretch your money. Find a small notebook, and jot down all money spent each day on meals, snacks, gas, impulse purchases, and entertainment. After you have done this for a few days, you will start noticing how the small things really add up, and where you can start cutting back.

Step Three
Learn all you can about budgeting, spending, and saving your money. The library offers many free resources to help you with this. Talk to your friends, parents, and teachers about what they have learned about budgeting and saving their money.


Step Four
Take advantage of student discounts, and free offers. Here are some helpful student web sites online to help you save:
http://www.studentadvantage.com/buyandsave
http://www.edu.com
Sandy Shields.

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