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From Chase Bank. The Student Budget Calculator calculates the difference between your expenses and income to help you identify your financial gap. It estimates how much you may need to borrow to cover your education-related expenses.
Photo by 401(k) 2012, used by Creative Commons License.
From FinAid.com, this handy tool let’s you know what you’re getting into – BEFORE you get into it!
Building a realistic student budget is a wise stewardship practice. Some people see budgeting from a point of scarcity and restriction, but a budget can be a tool that frees you to spend up to the limit you’ve set for yourself.
A budget or spending plan is the most essential tool in money management. No matter if you make thousands of dollars a year or hundreds of dollars, it is important to know how much you have, how much you spend, and where it goes.
Being aware of your income and expenses can be done with the help of the Student Budget_Planner. (This is an Excel file from Luther Seminary, but may be used by a student at any seminary.)
It’s easy as one, two, three, four! Download the Excel file at the bottom of this page and begin!
Write down exactly where every penny goes. Use the free downloadable spending tracker as a tool to help.
Start with a blank piece of paper each day and keep track of everything. Record what you bought and how much you spent. Yes, even tuition, books, gasoline for the car, and the coffee you buy on your way to class.
At the end of the 30 days, take out all those pieces of paper and categorize your spending. By doing this, you will see patterns in your spending—and in your daily living.
How much do you spend on eating out? What does childcare really cost? There is no right or wrong answer, just answers that best fit your priorities. This is really an eye opener for most students who are trying to keep a handle on paying for school and considering money goals beyond seminary.
Is your spending in line with your priorities? Are there places where things are really out of line? Can you see why you are spending more than you earn? What happens when you have cash? How do you use your debit card? What happens when you carry your checkbook or credit cards? What might you do differently to change the outcome?
Download Your Copy of Student Expense Tracker (This is an Excel spreadsheet.)
College presents a challenge to students, who often have great demands on their time and money, and decreased opportunities for work and income. Here is a wonderful tool to assist students in their budget planning.
Ever wonder where your money goes and why you have so little of it left at the end of the month? You’re not alone. Household budgeting is hard, but this online calculator from Thrivent Financial for Lutherans makes it easier. Just plug in your figures and you’ll be able to see your money flow — and to plan better! (Photo by Thelatin10, via bigstockphoto.com.)