Manage Your Finances

Create A Budget

The best way to begin your own budgeting adventure is to start with tracking where you spend your money. Once you realize where all of your money goes you will better be able to take charge of where you want to spend it. Try to track your spending for a whole week. Write down every cent you spend. Don’t forget to include the coffee you buy on the way to work or the soda you get from the vending machine at lunch time. A dollar here and a dollar there could add up over the course of a year.

Example: The coffee Angela buys on her way to work each morning costs $1.50/cup. This coffee could end up costing her $390.00 over the course of a year. ($1.50/coffee x 5 days/week x 52 weeks/year =$390.00)

Forms and Tips To Help You With Your Budget

  • Use this Spending Tracker Formto track the money you spend each week.  After you have an idea of where you spend money you can identify places to save money and start your budget.  Use the following tips to help you start the process.
    • After a week of tracking your spending is up take a look at where your money was spent. Are there any changes that you can make in your spending habits that might save you some money? Like making coffee at home and brown bagging your lunch.
    • It is important to create a budget that is custom to your lifestyle. Each person values and spends money differently. If you gave ten people fifty dollars chances are they would spend the money in ten different ways.
    • If you create a budget that doesn’t reflect your needs and goals your attempt at budgeting will not be successful.
    • There are many different budget worksheets and calculators available online. Here is an example of a basic monthly budget worksheet. Print the budget worksheet and customize it with your expenses or create your own.

Mismanaging your money is the equivalent of throwing it away. The CARE Program list the top ten financial tips for students to help them manage their money, the first of which is create a budget!

Featured in Plymouth Magazine

Example Image

Congratulations to the Class of 2016

PSU President Donald L. Birx at the 145th Commencement Ceremony on Saturday, May 14, 2016, his first as president, and the first to be held in ALLWell North. Nearly 1,000 undergraduate, graduate, and doctoral degrees were awarded before a crowd of 4,500 guests. Photo highlights>> Watch the video>>

Example Image

¡Bienvenidos a Cuba!

PSU professor and her students discover the challenges and joys of visiting Cuba » Political science professor Filiz Otucu Ruhm always dreamed of going to Cuba. In fact, she planned on visiting the island more than a decade ago. “The social scientist in me wanted to observe Castro’s Cuba, then go back after Castro, and […]

Example Image

Coming Soon: Merrill Place Residence Hall and Conference Center

Starting fall 2017, Plymouth State students will have a new residence hall to call home. To accommodate its growing enrollment, the University recently began construction on Merrill Place Residence Hall and Conference Center, a seven-story building that will house up to 350 students. “Merrill Place’s design is in line with the evolving housing preferences of […]