College Students Have I Got a Plan for You!
Everyday Cheapskate
All around the country, newly minted high school graduates will be heading off to college this month. They'll be taking a lot of things with them, but statistics tell us that financial literacy is not likely to be one of them. If I could spend a little time with these awesome students, I'd attempt to cram the basics of money management into their heads and then pray that they penetrate their hearts.
A budget is your friend. That means ...
1. You have a written plan for how you are going to spend and manage money.
2. You use that written plan like you would a road map, consulting it often.
3. You use a site like Mint.com or a pencil and paper to record how you spend every nickel.
Sallie Mae has a monthly budget worksheet you can print out to help you estimate your costs and keep expenses under control.