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Budgeting 101

April 5, 2010

There are a lot of new freedoms for new students: deciding where to live, deciding what classes to take and when and deciding which bars or parties to go to. The problem is that freedom brings the unfortunate burden of responsibility, including choices of how to use money wisely. Budgeting is a tough habit to start, but it’s a useful skill that will last forever.

Fortunately, there are a lot of resources online from tips on how to get started to this great budgeting worksheet. The Student Financial Aid Information Centre for that other university in the city also has a useful worksheet. Budgeting websites like Personal Budgeting and Money Saving Tips or the tipsheet on about.com by Jeremy Vohwinkle have good advice for getting started and sticking to your plan.

Do you make a budget and how does it help you stay on track?

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2 Comments leave one →
  1. April 8, 2010 2:58 am

    I have been watching that show Til Debt Do Us Part! I love it. She uses jars for people to put money into for different things and she takes your debit and credit cards.

    • April 22, 2010 9:04 am

      Any system is a good system when it works. Having a credit card is convenient, but it can be hazardous if you let the credit card company bump your credit limit higher than you can afford to pay off in one or two pay cheques.

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