I’ve tackled one of the goals set forth in my last post: creation of a budget.
This will probably change, as the month of May I won’t be in school! Woop! I will be living in a house for intentional Christian community located about a mile off of campus, and will be paying rent and purchasing all my own food. I have to talk to the parentals about finances and see if I’m going to be completely fiscally independent this summer, or if they’ll be helping out and in what capacity.
This budget makes more sense for the school year, so I’ll have to see in what ways to modify it this summer when I won’t be on any type of meal plan.
I think this is realistic for a month when I’m in school. After talking to my parents, I’ll be changing this! After looking through my spending habits, I decided that $150/ month is realistic. Out of this, food accounts for about the most: $65 between restaurants, coffee, and groceries. I allotted $40 for my compassion international young woman, Archana. Miscellaneous refers to exactly that: toiletries, clothing, books, gifts, etc.
This budget makes sense for me. I’m not out on my own yet–I’m at school with a meal plan, no rent, parents who pay for insurance and gas on my car. I am very blessed in this sense. Practicing making a budget now, however, while I have limited expenses and limited income will help make it simpler when I do have that control.
I’ll let you know about the evolution of the budget, as I’m sure it will for May/June-August.
Next on my list? The other goal from last time . . . investment options!
Do your budgets ever vary?