3. Create a Written Budget
Start by writing down what your monthly income is from all sources. Whether it’s your average paycheque from your job, an allowance, inheritance, money from investments, etc.-if it’s income, you should include it in your budget.
The next step is to write down your current liquid assets (i.e., the money available to you in your bank account). If you’re not currently earning an income, this may be all you have to work with for your entire post-secondary education (no pressure).
After tallying your current assets and income, start writing down all of the expenses you incur in a month. It can help to start with the big things that are always the same-such as rent money, utilities, cellphone bills, streaming subscriptions, and other expenses that are billed each month.
Then, start recording all of the other things you spend money on each month. Things like gas, food, Ubers, clothes, games-anything and everything. Continue reading “4. Consider Paying Student Loans While in School”