Making Sense Of Cents

Learn how to make extra money, how to save money, how to start a blog, and more.

JOIN OVER 300,000
MONTHLY READERS!
  • HOME
  • BLOG
  • About
  • Categories
    • SAVE MONEY
    • Side Job Ideas
    • Blogging Tips
    • Budget Tips
    • Career Advice
    • College
    • Pay Off Debt
    • Extra Income
    • My Life
    • Minimalism
    • Pet-Related
    • Real Estate Help
    • Retirement
    • Product Reviews
    • Self-Employment Tips
    • Travel
      • RV Life
    • Wedding
  • How To Start a Blog
  • FREE FB GROUP
  • Recommendations
  • Contact
    • Contact
    • Advertise
  • How To Save Money
  • Make Extra Money
  • Blogging Courses
    • Affiliate Marketing Course
    • Making Sense of Sponsored Posts
  • Travel

Why should you use a budgeting calculator?

Last Updated: May 20, 2015 BY Michelle Schroeder-Gardner -

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

0shares
  • Facebook
  • Twitter
  • Reddit
  • LinkedIn
  • Email

makingsenseofcents-caculatorIt is worthwhile downloading and trying our student budgeting calculator while you read through the benefits it can bring to your personal finance. Download it for free here. This calculator was proudly created by Tim Fisher from CreditCard.com.au. If you have any questions about the calculator feel free to contact Tim Fisher here.

Becoming a student is the start of an exciting new chapter in your life. It leads to employment opportunities, education and new skills that will set you up for the rest of your life. It can also be very expensive as you might not have a lot of spare time to work. But don’t worry, if you are careful and plan ahead you will see that there is a light at the end of the tunnel.

So, just how much money will you need? It’s the one of the most important questions we ask ourselves again and again for the rest of our lives. And it’s even more important for students, because students don’t always have a high income.

How much money have you got?

Are you working? If so is it regular part time work? Irregular casual employment? Contract work? Or are you freelancing? As you can see there are many situations that define a student’s income, however the bottom line is; what is your cash flow? And, how much cash do you have in savings? Can you rely on money from your parents or guardians?

How much money do you need to spend?

The answer to this question is going to be different depending on your situation. For example; Are you renting? If so, is it a student share house or a private studio? Are you moving interstate or a long way from home? Do you have all the right textbooks and other study resources you will need? Can you afford a computer if you need one? How will you get to class? Are you driving or taking the bus? Can you afford new clothes and food?

What’s the difference?

Add up all your income, savings and other sources of cash flow. Now, add up all your expenses, accommodation, food, resources and so on. Then subtract your expenses from your income. Hopefully you have something left over.

Plan ahead?

It’s really important to plan ahead. There is a famous expression ‘most people don’t plan to fail, they fail to plan’. Don’t let this come true with your student budget. With proper planning and a good understanding of your budget your student life will be a great success and you will move into a professional career with every confidence.

Budget tips and tricks

When you cash flow is low controlling your spending is the best way to stay in control. Always think through your purchases before making them and ask yourself the following questions; do I really need this? Do i need it right now? And, can I get it cheaper somewhere else?

Summary

Becoming a student should be an exciting and optimistic decision. We don’t want you to become overly anxious about money. That is why we created the student budgeting calculator so that you can see for yourself just how much you have to spend. If you follow the guidelines set out above; Add up your cash flow, subtract your expenses, calculate the difference, plan ahead and make savings wherever you can, you too will see the financial reward at the end of your studies.

Related Posts

  • Why Saving Money In Your 20s Is A Good IdeaWhy Saving Money In Your 20s Is A Good Idea
  • You Don’t Have To Be YourselfYou Don’t Have To Be Yourself
  • How To Control Your Summer Cooling CostsHow To Control Your Summer Cooling Costs
  • Remote Work: Work, Live, and Travel Where You Want With Remote JobsRemote Work: Work, Live, and Travel Where You Want With Remote Jobs
  • Six Questions To Know More About YouSix Questions To Know More About You
  • 37 Crazy and Creative Strategies To Pay Off Debt From Real People37 Crazy and Creative Strategies To Pay Off Debt From Real People
0shares
  • Facebook
  • Twitter
  • Reddit
  • LinkedIn
  • Email


Filed Under: Budget, Writers1

About Michelle Schroeder-Gardner

Michelle is the founder of Making Sense of Cents, a blog about personal finance and traveling. She discusses how her business has evolved in her side income series. She paid off $40,000 in student loans by the age of 24 mainly due to her freelancing side hustles. Click here to learn more about starting a blog!

Making Sense of Cents welcome page photo
Hello and welcome!
My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.
Follow on Bloglovin

Subscribe Via Email

As Seen On

as seen on
How To Start A Blog
making sense of affiliate marketing for bloggers
My Monthly Online Income Reports
My Student Loans Are Gone - How I Paid Off $38,000 In Student Loans
Buying a House at 20 (How I did it)
How To Make Money Blogging Picture
How To Save 50% Or More Of Your Income Picture
How I Graduated From College In 2.5 Years With 2 Degrees AND Saved $37,500
75+ Ways To Make Extra Money

Subscribe Via Email

HOME
CONTACT

POPULAR POSTS
How To Make Money Blogging
How To Start A Blog Tutorial
I Paid $40K In Student Loans By 24
75 Ways To Make Extra Money

PRIVACY POLICY
TERMS OF USE
DISCLAIMER / EARNINGS DISCLAIMER

Copyright © 2011 - 2021. All Rights Reserved.

© 2021 Making Sense of Cents
Design by Swoon & Co. Creative