This is another source of money for your budget that is, if you receive any student loan though, payable back after school. This is the amount of money that you receive for being a student, whether offered by the government or any other source. This makes one of your income sources for your budget. The sources include part-time job income, summer job income, parent/guardian contributions, scholarship, bursaries, and any other grants, including 529 Plan in case you are a beneficiary. This is the amount of money that you have earned by working or grants, and it includes the cash that is not payable back. When doing your budget, you can consider the following categories to make it easier and more clear. After getting the balance, now you can go ahead and account for the balance in your budget. Check your bank account balance as well as your student loan and add them up to know your total cash and subtract the bills. This involves taking your student receipts, house, and board bills and adding them up to get the monthly total. Do budgetingĪfter tracking all your expenses, then you can now go ahead budgeting. Finally, add up all the transactions either at the end of the week or at the end of the month to determine your total expenditure as well as seeing where your money is going. It is also important to include the date and the specific reason for the transaction, including lunch, school supplies, among others. Carry a notebook and a pen or your phone/iPad with yourself always to record each and every transaction that you carry out on a daily basis. There are a number of ways of how you can keep track of your money. Tracking expenses simply means that tracking your credit and debit card purchases as well as your cash. Tracking all your school expenses is not a simple task and may sound impossible, but with good record keeping as well as saving all your receipts, make it a simple task. This involves keeping a record of all your school transactions so that you can easily track each and every detail. Creating a Budget Plan Track your school expenses
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