Budgeting is a critical life skill for anyone to have, especially college students. Don't fall into credit traps or live beyond your means.
Introduction to Budgeting
Now that we've learned how to track expenses and income, we can figure out what we're spending our money on each month and establish a budget. We'll be re-using the Excel spreadsheet to figure out how to sum up expenses by category and create different charts. Be sure to learn your SUMIF formula in Excel where the formula is =SUMIF(category range,reference cell,sum range).
In this lesson, we pick up with an unbalanced budget and look at ways that we can cut down expenses. We also discuss additional topics on where to find savings as well as increase your income. The end result is a balanced, liveable budget.
In this lesson, we discuss various financial vehicles for saving and investing money. Basic investing concepts such as risk, return, and liquidity are covered as well as some simple strategies for college students.
Credit is one of the trickiest things to master. As a college student, you're a target for a lot of credit card companies because you are just starting out. You will be inundated with offers from different card issuers, so it's important to know about credit, how to build it responsibly, and the different types of credit you'll encounter.