Use this expense worksheet to plan your budget for the school year. You can break it down to monthly expenses by creating your own expense worksheet and tracking the actual costs you spend each month to see if you are following your "Estimated Costs" for the year.

Download this worksheet in PDF

Budgeting gives an accurate picture of your current financial position

It will show if money is not being spent according to priorities set by you. Your budget will also highlight where changes in spending habits can be made and where savings can be made. Budgeting helps make your money go further.

The essential purpose of budgeting is to ensure that your basic needs are met and where necessary, be a debt management tool. A budget can be a very effective "STOP SIGN" for impulse spending.

Budgeting can help prevent you from accumulating debts to the point where repayments become difficult to make.

Effective budgeting will help you to live within your means as well as permit you to save and spend money on the things you have prioritized, including fun activities.

Operating on a budget will also help reduce your stress levels during exam times.

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Budgeting tips that help keep your finances at your fingertips

• Maintain your own accounts and always reconcile your bank statements. Banks make mistakes too!
• If you have a "hiccup" in your budget, take it in stride and account for it immediately.
• Educate yourself about managing money.
• Prepare a budget that helps you to start a regular savings plan, no matter how small the amount.
• Seek help immediately and contact your Loan Service Provider if debts start to build up.

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Tips to help you manage your finances

• Ask yourself if you are a full-time student or a full-time employee? Act accordingly, budget practically and use your finance appropriately.
• Resist the urge to keep buying the latest "stuff" you might not need for University.
• Don't pay fees for things you don't use - access fees, download fees, subscription fees, usage fees, etc.
• Keep track of memberships and subscriptions - stop the ones you aren't using.
• Remember that most often, buying in bulk only saves money if you're consuming bulk.
• Don't forget to return what you don't need, don't like and can't afford.
• Try to borrow books from the library and avoid building up your own movie collection until you graduate. They are bound to be cheaper by that time too.
• Be conscious of saving money at every turn.
• Don't give into impulsive buying. Think "What ELSE will I need to spend this money on?"

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