Budgeting is the backbone of any fiscal plan. While you are in school, you create a budget to help you live off of your available funds. A budget can help a student keep from having to take out emergency loans or use credit cards to make ends meet.
After you leave school and enter repayment, a budget will assist you in making financial decisions concerning your repayment options and or savings arrangements. A budget tracks your spending and helps create your monthly cash flow. Budgeting is a primary topic that is covered with every level of student. From basic to detailed, we are available to help our students create a budget that makes sense to them and works for their specific situation.
Behind every budget there is a specific goal in mind.
The goal can be as simple as saving an additional $10 a month, or as detailed as spending less on food, gas, and entertainment. Regardless of what a student sets out to accomplish by creating their budget, it is important that the goals are realistic and attainable. Setting unrealistic goals can cause for a student to become discouraged and stray away from the budgeting process out of frustration.
The idea is to set attainable goals so that a student can feel a sense of accomplishment when they have met or exceeded their budget target.
Federal Trade Commission – 66 Ways to Save Money – 12 page document listing out various ways to cut back on expenditures. View Article
Budget Handout - A quick guide to creating a budget and determining some ways to cut costs.
Budget PowerPoint - Budgeting Basics: A step by step guide to creating a successful budget.
Budgeting Worksheet – Excel formatted monthly budget for students to download and edit to their liking. View Budget Document
ECMC – 8 Ways to Cut Back on Your Grocery Bill – Good basic tips on how to cut back on monthly food costs. View Document
Schedule an Appointment Today!
Just like with writing a paper, sometimes it is helpful to work with someone else when examining your budget. There is something to be said for having an experienced professional available to help you create, maintain, and follow a budget that revolves around you.
To schedule an appointment, please contact:
Phone: 503-494-7800 or 800-775-5460
What to Bring to an Appointment
A student should bring with them their most recent account statement from their loan service provider, a completed budget form, and any credit card or bank statements.
If the student has general questions relating to anything else, they should bring any relevant documentation that they have with them.