Budgeting College Expenses

Tips and Guides for the Upcoming 2007-08 College Year

College students are getting ready for the upcoming 2007 Fall semester. It is just a few weeks away before millions of student across the country make their trek to their university of choice.

Several tasks are required to prepare for that journey. Your first important task is calculating the exact costs for attending school. Colleges are required to provide estimated costs upon acceptance at the University. Those costs are estimated costs incur by students from previous years, adjusted for inflation. However, you should budget the amount of financial aid you will need for the academic year. You need to have a spending plan by month to avoid running out of money before the school year ends.

The costs that you should estimate include the following:

1. School Tuition and Fees:

   Costs to attend class instruction and the use of facilities, labs, libraries and all other related services for each enrolled student. And don't forget to add access fees to campus facilities. Check your class registration for what you will need.
   

2. Books and Supplies:
   

   The estimated cost for books and supplies the student will be required for classroom instruction. Many students fail to estimate the total cost for books and supplies; some classroom instructions may require several books and copied outlines. Make sure you estimate everything that you will need for each classroom.
   

3. Computer and Other Electronics:
   

   Not necessarily required for some colleges since they offer computer labs and other shared facilities. However, it will be the student's advantage to have their own personal laptop. Personal laptops can cost you $1,000 or more for a decent model. And then there is the software, printing, scanning, etc. Understand what you will need for each classroom.
   

4. Room and Board:
   

   The estimated cost for housing and food if you live in a residence hall; if you live off campus, the cost for monthly rent, utilities, and food. You need to estimate costs for eating in the cafeteria and other related snacks and beverages.
   

5. Transportation:
   

   The estimated cost for 2-3 round trips from your home to school (you don't want to spend the winter holidays at school). Additionally, what is going to be your transportation options at school? If you have your personal auto or other motor vehicle, estimate costs for fuel, insurance, parking fees, maintenance, and other related fees. If you are on foot or bicycle, estimate the costs for public transportation.
   

6. Personal Living Expenses:
   

   The estimated cost for clothing, grooming supplies, laundry and entertainment. Toothpaste, make-up, shampoo, deodorant, etc., can all add up.
   

7. Other Personal Costs:
   

   Personal expenses that are specific to the student such as insurance, disability expenses, dependent care, loan fees, etc.
   

8. Miscellaneous:

   Any other expenses that you can identify with your school's Financial Aid Office

You can estimate and budget these expenses by month using our FREE college budgeting worksheet. Link to our budgeting module for our guide and worksheet.

Private student loans are a great resource when you need extra money. Sometimes your college and personal aid will not cover the full cost of education after your run your budgeting analysis. That is when you turn to private student loans to make up the difference from the cost of education and the amount of student financial aid that you have. See more information about private student loans

copyright 2007 all rights reserved www.SayStudent.com

Krayton M Davis is the Executive Principal of nBuy Associates, which owns and operates the SayStudent College Financing Guide. For more information about our services, link to: http://www.SayStudent.com

Small Business Budgeting Tips - Perfecting the Plan That Keeps You On-Track

At the end of every fiscal year companies tallying up their scores to see how they’ve finished. Unlike the game of golf having the highest score is cause for celebration, being in the black you’ve done well and deserve some congratulations. If there isn’t a soirée going on in your business maybe it’s because you didn’t plan for a year-end party, and that could be the direct result of your failure to budget.

To be successful in business, budget cannot be a taboo word in your company. One of the skill sets you as an owner or manager need to possess is the ability to plan ahead, this includes that ability to budget. If you’re a visionary and lack budgeting skills, then stop reading and go find someone who is. So before we discuss budgeting tips, let’s first discuss what a budget is and isn’t.

What a Budget Is:

A budget is a proposed plan to monitor financial activity over a period of time. A budget is a planning tool an owner and/or manager should be using to measure trends over a fixed interval; this includes inflow, outflow, and asset/ liability growth. Finally a budget is a resource to forecast an assumed outcome.

What a Budget is NOT:

A budget is not the law; it is not to be used as a means of accountability and to ensure financial integrity. A budget is not to be used a ceiling to spending, and a method of absolute control. And finally a budget is not a guarantee so financial and business success.

So now that we have defined what a budget is, let us get to how to properly use and understand how a budget actually benefits a company.

The budget should be put together and approved at least 1-2 months prior to the start of the new fiscal year. This will allow for key employees to look at what the company is trying to accomplish and what is being aimed for. So for this to happen planning will need to take place approximately 3-6 months before the start of the new fiscal year, this of course depends on the complexity and size of the company.

The budget should reflect the direction that the company is headed in; this of course is handed down by the CEO and/or Board of Directors. Everything about the budget should point towards the strategic plan the company has adopted. The budget should also be multifaceted, not only should you include a Profit & Loss operating budget, but also a Balance Sheet budget to help track cash inflows and outflows.

Finally the budget should be realistic. An exponential increase in revenues without any foundational proof or purpose can lead to fiscal year failure. Again remember the budget is for mapping out trends in an attempt to forecast growth or decline. All the pieces must fit, in business there is usually a cause for increased revenues (hint: check for the reason in your expenses section!).

To summarize let’s recap the key points:

1. Budget is not taboo
2. Budget is a proposed plan
3. Budget is not the law
4. Approval should allow for time to disseminate throughout the company
5. Reflects the strategic plan and heading of the company
6. The budget should be realistic, for all growth there should be a reason

Jayson Cardwell is the Founder and CEO of Cardwell Financial Group, Inc. a small and mid-size business services and consultancy. Cardwell Financial Group, Inc. specializes in helping owners, managers, and entrepreneurs realize their dreams of owning prosperous and successful firms. They accomplish this by providing Financial Management, Analysis, Strategic Planning, Business Analysis, Executive Development, and Accounting Services and Consulting. For more information about Cardwell Financial Group, Inc and how they can help you visit them on the web at http://www.CardwellFinancial.com, or e-mail them at Info@CardwellFinancial.com

Tire Discounts

The booming Tire Discount industry has led to the mushrooming of Discount Tire Stores throughout the United States. While most of these stores sell tires directly to the customer, some are selling them via the Internet. Discount Tire Companies have come to represent an option that is affordable and can cater to various automobile requirements at economical rates.

Tire Discount Stores offer a range of tires to suit the varying needs of customers. In addition, they also offer tips and suggestions about making a good purchase, or tire maintenance. Some of these stores have also launched marketing drives to target potential customers. Some of the promotion initiatives include freebies like free mounting, coupons, or free servicing after a specified number of miles. Most of these Discount Tire Stores are located at advantageous positions, adjacent to highways and major roads, in order to give customers easy access.

Most Tire Discount Companies undertake various forms of research and development activities. This is to ensure safety, traction, reliability , durability, and any number of other factors that make for the perfect discount tire. These companies are aware of the vehicular requirements for tires, such as the speed index of the tires and the rating for load. These should not be lower than your original set of tires that came with your vehicle. The speed index indicates the safe top speed of the tire, and needs to be taken seriously. Generally, a decreased speed rating means that the tire’s ability to contribute the overall performance of the automobile is reduced.

Tire Discounts provides detailed information on discount tires, discount ATV tires, discount motorcycle tires, discount tire company and more. Discount Tires is affiliated with Used Race Car Parts.

Personal Budgeting Tough Love

Developing and living by a personal budget is by far the best way to get your expenses under control which, in turn, can mean a much less stressful life.

However, many families find it very difficult to stick to a personal budget. It does take hard work and a lot of self-discipline, at least in the beginning. The good news is that most families find the longer they can stick to a budget, the easier it becomes. This is because sticking to a household budget eventually becomes an unconscious habit, just like driving a car. And once it becomes a habit, the budgeting process just sort of goes on cruise control and requires much less thought or effort.

But what do you do during those first three, four or six months, when sticking to a personal budget feels so difficult?

There are several answers to this. The first is to make sure your budget categories are realistic. You may think you can get by with $100 a week for groceries, but is this real? Do you have checks or receipts that verify how much you have been spending at the grocery store? You really need to know. Otherwise, you may household budget too little. In turn, this becomes frustrating because you will always be over budget.

Second, make sure you have all categories covered. There are some categories that are easy -- rent, mortgage payment, utilities, car payments, etc. But think hard about all other categories such as clothing, eating out, prescriptions, pet care, tuition, books, allowances, movies, CDs and DVDs, and computer software and games, to name a few. If you don’t budget for all these kind of expenses, I promise they will bust your personal budgets.

Finally, if you find you just can’t seem to stick to your household budget, here’s a sort of tough love answer.

Go to your nearest office supply store and buy a box of #10 envelopes. Take them out and label one for each of your budgeting categories. Then write on each envelope the amount you have budgeted for that category.

For the purpose of this exercise, it is not necessary to break down general categories into subcategories. For example, you can label one envelope “entertainment” and not worry about envelopes for “movies,” “eating out,” “DVDs,” etc. Just be sure the number you write on the envelope for any general category represents the sum of all its subcategories.

When you next get paid, cash your paycheck and bring it all home in $50, $20 and $10 bills. Then put and amount of cash in each of the envelopes equal to the amount you budgeted for that particular 6category.

Now, as you need to pay bills or buy groceries, etc., use the cash in the corresponding envelopes to pay them. You will know when you have reached the budgeted amount for any category because its envelope will be empty. What do you do when you find an envelope is empty? You do nothing. That category is all finished for this pay period. If the envelope is empty and you still have expenses, either you simply haven’t budgeted correctly or you have overspent. You might be able to fudge and take funds from another category envelope. For example, if you have a week to go and are $40 short for groceries, you might be able to take the $40 out of the entertainment envelope. Just keep in mind this means $40 less for entertainment.

Do this for a few months and I promise you will not only learn to budget accurately, you will learn to stick to your budget personaly.

Here's another good answer. Try Mvelopes Personal. Mvelopes is the modern version of the paper envelope technique. This is what I personally use and it works great. Visit Mvelopes.com

TOP THREE CAUSES OF BUDGET FAILURE

Many people make an honest attempt to budget, but become discouraged and give up before they are able to accomplish any significant financial gain. The top three causes of budget failure come into play before you even begin to set up your budget. Awareness of these budget busters, is your first line of defense in the Battle of the Budget.

Budget Failure #1 - Negative Attitude It cannot be emphasized enough--a positive attitude about budgeting is essential to your success. If you think of budgeting in negative terms (such as a financial diet, financial handcuffs, restrictive, penny-pinching, a sacrifice, etc.), you are sure to fail, unless you are a martyr or a masochist who finds some strange reward in a punishing experience. For purposes of this article, we will assume that you are neither. A positive attitude means you think of a budget as a means to an end--a way to achieve your dreams and goals--and that postponing the instant gratification of spending all the money you earn is worth the rewards you will earn in the end.

Budget Failure #2 - Lack of Motivation What is your motivation for budgeting? Are you trying to appease a nagging spouse? Following the terms of a debt repayment plan with a consumer credit counseling agency? Complying with an agreement made in bankruptcy court? These are not bad motivations, but they are external pressures and will probably not be easy to maintain over time. The best motivations are internally generated: do you honestly believe that budgeting can help you meet your goals? If you need a little help in the motivation department, see "Twelve Reasons Budgeting Can Improve Your Life". A quick re-read of these will surely inspire and ignite a motivational spark or two!

Budget Failure # 3 - Unrealistic Expectations What do you expect to gain from instituting and following a budget? Do you think that setting up a budget will reveal large caches of hidden cash or that the budget fairy will sprinkle fairy dust over your budget and magically transform your spending habits after a month or two of tracking expenses? The reality is that budgeting is an endurance event--those who stick with it, through thick and thin, will come out ahead financially. Do not expect miracles. What you WILL see if you stick with it is steady, measurable progress towards the goals that really matter to you.

Starting a budget without having a positive attitude, internal motivation, and realistic expectations, will probably set you up for failure. You can greatly increase your chances of success by ruling out the three biggest budget busters before you even begin. Family budgeting – just the thought of it makes most of us cringe. However, mostly, we do attempt to curb our spending and live within our means. Others fall into bad habits, habitual spending patterns or impulse shopping and over-extend themselves, landing knee-deep in debt! Ironically, one of the first remedies for any debt consolidation or repair strategy, is to take a long hard look at the budget and financial patterns within the household! It is almost like running a diagnostic. To take a closer look, you are in effect placing your family dollars under a magnifying glass and microscope. This can prove both challenging and painful for most people. We hope to alleviate some of that initial discomfort and apprehension with this handy step-by-step guide and tips. Most financial advisors will tell you that you have to reward yourself for good fiscal responsibility, discipline and habits, to increase your motivation and success levels.

Budgeting is the first step, sticking with and to it, a close second and the sometimes overlooked but ever-important reward, has to keep the motivation going! To repeat and continue to experience the benefit of the budgeting cycle and discipline could be an uphill battle, but there are calmer seas ahead.

Cash management, savings, planning for retirement, setting financial goals etc. active and hands-on, is becoming increasingly important for the survival and well-being of our families everywhere. Be your own best expert with coming up with new ideas on how to save money, budget better and spend less! Your unique strategies stem from a deep understanding of your own situation, demands, and needs. Discover which tips and ideas work best for you. After all, fiscal management and finances are definitely not a one-size-fits-all solution environment. It is personal, customized and unique.

Why You Should Start a Family Budget

12 Great Resons Why You Should Start Budgeting Now For Your Family And Yourself

THE RATIONALE AND PROCESS OF FAMILY BUDGETING

Here are twelve good reasons to get you started:

1. Family budgets are used as a baseline, analysis-tool and roadmap. It is a useful tool. It tells you whether you are headed in the direction you want to be headed in financially. It helps you to move from spending to saving and good fiscal balance, management and responsibility. You may have goals and dreams, but if you do not set up guidelines for reaching them and you do not measure your progress, you may end up going so far in the wrong direction you can never make it back.

2. It is often described and justified as an empowering enabler. A budget lets you control your money instead of your money controlling you.

3. A family budget is a realistic estimate and true reflection of current circumstance and means, a type of financial situation-analysis that will tell you if you are living within your means. Before the widespread use of credit cards, you could tell if you were living within your means because you had money left over after paying all your bills.

There are lots of family budgeting tools available on line that make it a fun and enjoyable task and activity, to assess and analyze your family’s financial situation with minimum effort. There is also lots of free financial software and most of it sets up easily and provides you with a detailed family budget online. It manages your finances, hassle-free and almost effortless. Well, almost! It will require input and minimum effort through hands-on involvement in setting it up, populating, maintaining and editing it. Mvelopes.com is a good example of market offerings that are available at no cost to you, just waiting for the motivated family budgeter to embrace and try it out! Some websites offer free financial newsletters by e-mail, with lots of money saving tips, budget advice, and other relevant personal and family-related financial information. The availability, accessibility, virtual marketplace, ease of use and more of credit cards has made the need for family budgets much less obvious. Many people do not even realize they are living far beyond their means until they are knee deep in debt, struggling to make ends meet and sinking fast into murky financial waters. Budgeting for your family can be a life and money saver, a reality check, BUT ALSO a remedy!

4. A family budget can help you meet your savings goals. It includes a mechanism for setting aside money for savings and investments.

5. Following a realistic budget frees up spare cash so you can use your money on the things that really matter to you instead of frittering it away on things you do not even remember buying.

6. A family budget helps your entire family focus on common goals. It is unifying families in mutual purpose and effort, working together towards a successful outcome and reward.

7. A budget for your family helps you prepare for emergencies or large or unanticipated expenses that might otherwise knock you for a loop financially.

8. A personal budget can improve your marriage. A good budget is not just a spending plan; it is a communication tool. Done right, a budget can bring the two of you closer together as you identify and work towards common goals and reduce arguments about money.

9. A budget reveals areas where you are spending too much money, so you can refocus on your most important goals.

10. A budget can keep you out of debt or help you get out of debt.

11. A budget actually creates extra money for you to do use on things that matter to you.

12. A budget helps you sleep better at night because you do not lie awake worrying about how you are going to make ends meet. Nevertheless, despite all these wonderful reasons quoted above, people are still hesitant to commit to family budgeting as standard practice in their households.

About Author For More Great Information, And useful Tips On Creating A Winning Family Budget Or Even Improving Your Existing Budget visit http://www.family-financial-success.com

6 Critical Benefits of Preparing Your Own Personal Budget

The role of a personal budget is to help you manage your personal finances and eventually become free of debt. This is the dream of us all, isn't it? Most people shy away from doing the personal budget thing, but it is the best, most trusted and proven method for getting your personal finances in order. You can have your own personal budget completed within a couple of hours.

The task of preparing your own personal budget is a liberating experience. You can finally see the true state of your own finances. The benefits listed below will help encourage you in making your decision to start today.

Benefit #1. The personal budget focuses your thinking.

Without a personal budget you are not able to clearly see the extent of your spending compared to your income. This is the most important role of your personal budget. It will show you whether you are living within your means or whether you are living on borrowed funds. It is also the tool that can show you where all your money is being spent. This allows you to answer important questions, such as "Am I wasting money on things I don't really need?", "Is my credit card debt to blame?" and "How much better off would I be if I could manage to be free of debt?".

Benefit #2. A personal budget helps you save money and set goals.

Once you have correctly prepared your personal budget, it will show you how much you need to save from your income to meet your expenses and set aside some funds for emergencies. It allows you to set goals, both for the amount and the timing. For example, you may set a goal of paying $2,000 off your credit cards, within 1 year. Once you make a commitment to yourself to make this work the budget becomes a tool that will help you stay on track.

Benefit #3. Keeps your goals in your mind.

It is easy to slip back into your old spending ways if you do not commit to making your personal budget work. The budget will help you keep the goals you set in your mind when you are tempted to give in. When you are out, it can help you say no to frivolous expenditure, say no to that daily coffee-shop coffee, think twice before you hand over your hard-earned money on things you don't really need and wait until that item you really want goes on sale.

Benefit #4. A budget helps you live within your means.

Every time you make a spending decision, it has a positive or negative impact on your personal financial position. The budget can show you clearly how your spending habits affect your finances in advance. Your personal budget can help you understand that if you spend money on this item you can't use the same money to spend on something else. You only have a finite income. If you spend more than you earn you are living on borrowed money and the cost of that money is interest. The interest on borrowed funds is most probably the cause of your financial worries.

Benefit #5. Puts you in control of your finances.

If you've prepared your personal budget correctly, you will see how much you have available to spend, after taking into account your debt repayments and savings requirements for your future needs. This information can take away the guilt you may have felt when purchasing some item(s) you knew you couldn't really afford. When you know you can afford an item you really want, the purchasing experience will be much more enjoyable and rewarding.

Benefit #6. - Tracks your progress toward your goals.

Once you prepare you budget it should not put into a drawer and forgotten. It should be a live document that you refer to weekly, or at least monthly. This is your guide to your own financial freedom. You need to check your progress towards your goals, thus giving you the incentive to keep going and achieve your financial objectives. If you make the effort and follow your plan, you'll be surprised how easy it really is to reach financial freedom.

About Author
Bruce Hokin has designed a simple budget tool called "5 Steps to Freedom Personal Budget." It based on his extensive background as a qualified, experienced accountant, manager, consultant and financial adviser. You can download this powerful budget assistant today and be on your way to financial freedom within the hour. You can also click here for your FREE Mini-Budget.

Debt and Debtor's Disease - Do You Have It?

Debtor's disease is a silent killer. Killer of respect, marriages, self control, and families. There isn't a part of your life that it won't touch and destroy with it's deadly power. Some of you won't even know you have it for many, many years. It's a sneaky affliction; creeping into your life and slowly but surely taking control of every part of your existence.

Seems a bit of a dramatic description, doesn't it? But, the sad part is, it's all true. Even though we often hate to admit it, debt will control our lives totally. Even when we first realize it, we won't do anything about it. We will deny it, continue to feed it, and give it all it needs to thrive within our lives. Oh, you'll have help, no doubt about that. There are many ways we fuel the fever. Falling into the credit card trap is just the beginning. Self justification is your worst enemy. Why, the human mind is masterful at justifying just about any action, or purchase, given the right circumstances.

The first step is recognizing the disease. Diagnoses of debtor's disease is much harder than you might expect. Oh, the symptoms are very clear for sure. But, since most of us hate to admit our own vulnerabilities and defeat, they can be nearly invisible to the victim. I experienced nearly all of the symptoms below before I finally excepted the fact that I did indeed have the affliction. It is quite a humiliating experience to realize that so many obvious warning signs were present and you continued down the wrong path.

They say hindsight is 20/20; Meaning that the past is clearer when we look back. And, when things go wrong, we like to hope that we would have done things differently if we knew what we know now. Well, I'm hoping I can prevent you from some of that humiliation and financial disaster. You can stop it from growing to destructive levels if you can identify the warnings early on. Identify problems early and fix them. Make no mistake, if the following scenarios apply to your situation, you are headed for financial trouble.

SYMPTOMS
* Requesting credit increases lately?
Requesting credit increases for no specific major purchase, but because your cards are maxed out, is a sure sign that your spending is out of control. You may be living way beyond your income.

* Do you apply for new credit cards because your current credit balances are maxed out?
This is just another way to get additional credit especially, when you can't seem to get any more credit increases from your existing creditors.

* Are you rescheduling monthly bill payments due to lack of funds. If you find it increasingly difficult to pay bills on time and according to a consistent schedule, you're probably starting to get into trouble. You should not have to put off paying essential bills.

* Are you using credit to meet your living expenses.
Credit is not intended to help you live above your income. You should be able to meet all of your essential living expenses with your income. If you have income left for non-essential expenses, great. If not, don't turn to credit to live above your income. It will most certainly result in financial disaster.

Paying essential monthly bills, such as the electric or phone, with credit cards is a serious symptom. Once you turn to credit to pay your monthly bills, you're in serious trouble. Sooner or later the credit cards will be maxed out, you will be refused additional credit increases, and you won't be able to pay those bills.

* Do your credit card payments equal more than 10 -15% of your monthly income?
Your income to credit ratio is an important part of your credit management picture. The higher your balances, without an increase in income, the lower your credit score. This is true even if you have no derogatory items on your credit history, and are consistently maintaining good payment records.

In most cases, creditors will identify debtor's disease long before the victim realizes his affliction. They will begin to arm themselves against the consequences of the infection when this occurs. Your interest rates and penalties (i.e. late fees, over limit fees) may increase as companies anticipate default. Even they can see you're headed for trouble.

THE CURE

If you answered yes to any or all of the above, you have fallen victim to debtor's disease. Don't let it take control of your life! Fix the problems now. You'll have less stress and be a lot happier. I can say that with confidence. It is such a relief to be able to see an end to the struggle. You will feel as though a great burden has been taken from you when your finances are under control.

And, even though you may experience some difficult periods when you may get discouraged, you'll find those times much less stressful that periods when you worried about how your bills would get paid. Take some serious money management steps to begin your treatment. It's never too late to take control of your finances and make a commitment to debt free living.

* Identify overspending and eliminate it.

Identify where your money goes. Track spending for specified period of time. Eliminate unnecessary expenses. Reduce those you feel you need to keep.

* Develop a plan to become debt free.
Create a plan to get rid of debt. Use a self help plan or a professional. Whether you choose a counselor, debt consolidation or settlement, or a self help plan, lower debt consistently to manage and eliminate debt. A plan that calls for a consistent monthly commitment until debt is paid will be easier to budget.

* Create a Household budget

Creating a household budget will be essential to your success. It is necessary to bring your living expenses within your income. This is the concept of living within your means. You can create this yourself as well or seek professional help in setting up or maintaining your budget. Your situation and your level of self discipline will determine what will be most successful for you. Find a plan that works for your situation and will be the easiest for you to stick to!

* Implement lifestyle changes that will help you free up money to help pay down debt.
Consistently apply these extra funds to debt payments to get out of debt faster. The sooner you are free from debt, the sooner you can start investing that money in yourself. Save money everyday on everything you buy and do.

Once you rid yourself of debt, commit to debt free living. Remember, you now know how you made the mistakes, you know how to identify the symptoms, and you have the knowledge and power to implement the cure. You should now be immune to debtor's disease.

Now, you can vaccinate your children, friends, and family with the knowledge to prevent them from falling prey to this life draining affliction. Give them your hind sight and help them build happy, secure, and independent futures for themselves and their families.

Cheryl Johnson is on a mission to become debt free. As publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com she hopes to guide and encourage others to become and remain debt free through household budgeting, debt management, and money saving tips.