Create a Budget!

A few minutes is all it takes to start down the path to financial fitness!

1. List and total all monthly income.
2. List and total all monthly expenses and separate into two categories:
• Fixed – expenses that have to be paid each month
• Flexible – expenses that YOU control
3. Divide the “total expenses” by the number of paychecks you receive each month. Set aside this amount from each paycheck for bills.
4. Subtract the “expense total” from the “income total.” If the “expense total” is greater than the “income total”... you’re in financial trouble!
5. Prioritize your expenses and decide if you really need those extra items!

Many websites offer free budgeting worksheets, such as http://financialplan.about.com. This site contains a regular worksheet and a worksheet just for college students.

Click here for a budgeting worksheet that will help you get out of the red and into the black, and click here if you have any questions about Budgeting!

If you'd like a PDF version of this webpage, you may download one here.