Your Budget After College

Need to figure out your expected net pay?  Go back a page.

Now that you’ve figured out your net pay, you can deduct your fixed monthly expenses. Below are some examples of what these expenses might be after college. Yours will be more or less depending on where you live. You can determine what your living costs might be in the town where you will work by checking out these resources.
Monthly:
Net Monthly Pay
Fixed Expenses:
Rent/Mortgage payment %0
Insurance – renter’s insurance, car insurance %0
Phone %0
Utilities %0
Water/Sewer %0
Internet %0
Transportation- car payment, bus pass %0
Student loan payments %0
Credit card payments %0
Other %0
Other %0
Subtotal Fixed Expenses: 0
Variable Expenses:
Food – groceries, snacks %0
Personal/toiletries-haircuts, shampoo, toothpaste, etc. %0
Medical/Dental-copayments, prescriptions, eyeglasses, etc. %0
Laundry/Dry cleaning %0
Gas, car registration (annual), oil changes, tires, repairs %0
Entertainment-dining out, movies/DVD rentals, concerts, games %0
Recreation-sports fees, club memberships %0
Travel-visits home, plane tickets, gas %0
Other %0
Other %0
Subtotal Variable Expenses : 0
Balance (Net Income Minus Expenses): 0
This amount is what you have leftover for savings. Hopefully you’re "in the black". This means that you have a positive amount of money leftover for your savings goals. If you are “in the red”, your expenses exceed your income and you have two choices: decrease your expenses/spending or increase your income.

If you’re in the black, we recommend:
  • First save for an emergency fund. This will protect you from unexpected expenses in the future and prevent using your credit card for emergencies.
  • Next, establish short-term and long-term goals.

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