Student Budget Planners and Templates

Probably everyone has felt the pinch of living on a student’s budget at one time or another. This is mainly because students have little or no access to income outside of the allowance coming from their parents. Also, they don’t use the latest templates in PDF and DOC format either.

There’s a lot of expenses to think about – clothes, books, gas, food, all those party and concert tickets. How then can a student juggle all these with very limited funds and make it through school without incurring huge debts? Here are a few things to remember:

A student’s biggest drain is often on meals and entertainment. The frequent visits to the fast-food joints as well as the midnight pizza deliveries will cost quite a lot when racked up for a month. So does that habitual coffee or soda run? Try this simple exercise for a week: each time you go out to buy chips, pizza, soda, beer or even that pack of cigarettes, note them all down and at the end of the week, and add up the amount. You’ll be surprised how much these “little” comforts actually cost you. Now that you have an idea where your money goes, think of simple alternatives.

Can you live with the coffee you brewed at home instead of going to Starbucks? Should you quit smoking and go for an alternative way to relieve your stress? Do you need to see a movie weekly or can you just rent a video and watch it from the comforts of your home?

The idea is simple. You don’t have to resort to convenient but more expensive methods to get your kicks. Once you’ve committed to your alternatives, try the same exercise of computing how much you’ve spent for a week and compare it with your old list. You will see the savings you’ve made and your wallet will thank you for it.

Avoid the trap of credit card debts and student loans.

We have all heard stories about how students drop out of school, not because of failing grades but because of massive debts which they can’t afford to pay. Or there are those who are able to finish school but are saddled with paying off their loans for 20 years or more. According to Nellie Mae, a company engaged in student loans, an average undergraduate student in the U.S. has $2,200 in credit card debt. Remember you can’t just sit back and let those loans accumulate because you think you can earn enough, later on, to pay them off. There are interest rates to consider and other fees that credit card and student loan companies levy so think again before stretching your expenses to the limit.

If you already have an existing loan or a revolving credit balance on your card, you should formulate a plan as to how and when to settle the amount – and stick to the plan.

Money management is the same for students as it is for everyone else. Formulate a plan that works for you and your lifestyle, ensure there are small, achievable goals along the way, and commit to that plan.

Sample Budgeting Templates