Goals for spending get broken in to 3 categories: Short Term, Mid Term, and Long Term goals. Making this distinction helps you plan your saving and spending in order to reach your goals.
(Less than a year) might be something like buy a new CD or setting up an Emergency Fund with 6 months expenses in it.
(Under 5-years) could be to invest $1200 a year for grand total of $6000 in 5-Years time.
(More than 5-years) is something like having saved up a certain amount of money towards buying a house, or have $1,000,000 saved for retirement.
After you've decided what goals you want to accomplish and figured out the numbers that you need to meet, follow these 3-steps to budgeting your way to those goals: Planning, Tracking, and Reviewing.
You may use this form or this form which is more detailed to help with your budgeting.
Calculate your income and expenses and write them down. You can use the forms above to help you. After that you can visibly see how long it will take to save for different things, and remember to keep some money saved away for when the forces of chaos, evil, and mayhem decide to break something expensive.
Watch your money, keep your receipts, keep a purchase log, track your accounts online, and whatever else you can do to keep an eye on your money. It will be easier to save and to prevent identity theft.
Regularly check your accounts to make sure your sticking to your budget and that others aren't accessing your accounts.
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If the money you spend in four years at a public college was a stack of pennies, it could reach more than 8.5 miles high, higher than most airplanes fly.
84% of college students have a credit card. 50% of them have 4 or more.
The average total debt for the Class of 2013 is $35,200.
There the will be approximately $1,200,000,000,000 in circulation in 2013.
$67,000,000,000 in student loans were in default in 2011.
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