Overview

• Total Income (2 Semesters): $6,400
• Total Expenses (2 Semesters): $3,358
• Balance Remaining: $3,042

Income Breakdown

• Salary/Wages: $1,600
• From Parents: $1,000
• Student Loans: $1,500
• Scholarships: $400
• Grants: $1,000
• Financial Aid: $500
• Transfer from Savings: $400

Expenses Breakdown

Home & School ($1,673)

• Tuition: $1,500
• Fees (Class, Labs, Clubs): $25
• Housing/Rent: $40
• Food Plan: $44
• Dorm/Room Furnishings: $20
• Textbooks: $15
• Internet: $29

Transportation ($700)

• Car Payments: $250
• Auto Insurance: $100
• Fuel: $250
• Registration/License: $100

Daily Living ($450)

• Groceries: $250
• Dining Out: $100
• Salon/Barber: $100

Entertainment ($450)

• Netflix/Hulu: $250
• Concerts/Plays/Events: $100
• Sports: $100

Health ($85)

• Student Health Insurance: $65
• Gym Membership: $20

Summing it up

• Surplus: The budget leaves a significant balance of $3,042 after accounting for income and expenses.
• Transportation: High cost attributed to car payments and fuel ($700).
• Entertainment: $450 spent on non-essential items like streaming services and events.
• Opportunity for Savings: Adjusting entertainment and dining out could boost savings further.

Actionable Tips

• Trim Discretionary Spending: Consider reducing entertainment and dining out budgets to free up funds.
• Reassess Transportation Costs: Evaluate if car-related expenses are essential; alternatives like carpooling or public transit might save money.
• Boost Emergency Fund: Allocate the surplus towards a savings buffer or future tuition payments.

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