Sometimes creating a semester budget rather than a monthly budget is a better tool to help you plan for the entire semester. It’s not complicated, but it does take time. Follow these steps to create a semester budget (Give me a demonstration):
Step five: List all periodic expenses like tuition payments, holiday spending, and car registration fees and break them down into monthly amounts. (More on periodic expenses)
Step six: Complete the semester budget using the information compiled in steps one through five. Complete it in the Excel document, which has calculations created for you, and then print when finished. (Google Sheets Budget)
Step seven: Balance your budget. Do you have money left over? Or do you have more going out than coming in? (How to handle a shortage) Adjust your budget so that money coming in matches money going out.
Step eight: Continue to track your spending, review your budget, and make adjustments. A budget is a living document that’s never final.