by: Selina Quintero

Setting and sticking to a monthly budget can give you peace of mind. With a budget, you can more effectively manage your money, save for large expenses, and prepare for emergencies. College is expensive, and you need to learn how to budge yourself. Here are some tips on how to do that:

  1. Be Realistic About Your Budget 
    Start by estimating how much money you’ll have coming in every month and how much you think you’ll be spending. The more realistic you are about each of these numbers, the more likely you’ll be to stick to your budget.2. Differentiate Between “Needs” And “Wants” In Your Budget
    If money is tight, differentiating between “needs” and “wants” can help you stay within budget. Needs come first, and if there’s money left over, you can spend on wants.



    3. Include Savings As An “Expense” In Your Budget
    Decide on an amount you’d like to save each month, and include it as an “expense” in your budget. Set up a separate savings account and transfer or deposit money into it every month. Your savings can be used for short-term goals or long-term goals. This money can also be used in case of an emergency.

    4. Align Your Budget With Your Goals And Values
    Once you’ve completed your budget, study it and see if you’re spending your money in alignment with your values and goals. Do this exercise again after you’ve attempted to live within your budget for a few months.
    5. Keep All Of Your Bills and Receipts Organized
    Organize all of your bills and rec

  2. eipts by category and file them each month in a folder or an accordion file. This will make it easy to retrieve information if you need to dispute a bill or track your spending history. Organizing your bills and receipts as you go along also makes it simple to file your taxes at the end of the year.giphy (2) (1).gif

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