Mark the ones that are mandatory expenses and the ones that are nice to have.
Step 5. Put it all together
The rule of thumb for budgeting: if you have more costs than income coming in, then you’ll need to find ways to cut back. Remember, you can’t go into the negative with your budget.
The easiest way to cut back is to eliminate the “nice to haves”
Or to put a cap on certain types of spending (such as online subscriptions or takeout). You could also increase your income by getting a job while you are in school. It’s up to you how you balance your budget and your workload while you are in school.
Remember, a budget looks great on paper - but it only helps you if you actually follow it. If you notice that your budget is way off by the end of the semester, don’t get discouraged. Just repeat the steps again based on more realistic numbers. Then try again next semester.
You’ll get the hang of it.