Learning to budget is an important part of living in your ASU student apartments. You are not only preparing for life after graduation, but you are ensuring your needs are met during college.
1. Set And Track Your Budget
The first step is to set a budget that includes everything from your essentials to any extras. For instance, your rent payment, groceries, and school supplies are essentials, while streaming apps, takeout, and spa days are considered extras. Use an app or a budget book to keep track of your income and spending.
2. Follow The 50/30/20 Rule
One idea is to follow the 50/30/20 rule for budgeting. With this rule, you are putting 50 percent of your income toward your needs, 30 percent toward wants, and 20 percent into savings. This way, your needs and savings are met without sacrificing every enjoyable aspect of your life.
3. Evaluate Your Wants Versus Needs
You can keep from overspending by evaluating your wants versus your needs. For example, you may need chicken for preparing your weekly meals, but you do not need to stop for a $4 coffee every day. Another idea is to walk away from non-essential items. If you are not thinking about these items later, they were not a need.
4. Pick up Extra Work
If you want more fun money, you can always pick up an extra shift at work or a part-time remote job. Another option is to look into freelancing, gig work, or paid surveys, which allow more flexibility around your class schedule and prevent burnout.
University House Tempe is ideal for anyone looking to move into ASU student apartments. Visit uhtempe.com to find more information on the apartments and amenities of this student community.
