Christian Fellowship
@ WASHINGTON STATE UNIVERSITY
Chi Alpha
Managing Your Finances
It's time to work on that skill that you'll use the rest of your life. Here are some resources to help you get started and don't forget to ask for in-person help.
Download Student Budget Template
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Mint
Links to your bank accounts and allows you to track your expenses and create a budget and follow trends with your money.
Isn’t the best at knowing what some shops are you have do need to keep track of what you spent your money on. I.e. Amazon expenses are just tracked as shopping not clothing or entertainment or whatever you might have purchased.
Every Dollar
Also links your bank accounts but as opposed to estimating a budget like mint or mvelopes this system allows you to give each dollar a value. In other words you tell your money where to go not the other way around. If you have a monthly income you take that income and divide it into each category as you see fit. At the end of your budget your income should read ZERO. This doesn’t mean you spent all your money but rather you told where your money should go. I.E. You budgeted and deposited 73$ into your savings account.
Mvelopes
This is bringing a tried and true old method to the modern age. The envelop system is a way to budget and set aside money in individual envelopes. One envelope might be for restaurants while another is for rent or entertainment. Once you run out of money in that one envelope you are done for the month. This system allows you to better balance your spending over the course of the month and won’t leave you over budget.