Subtract your monthly fixed expenses $___________ from your monthly income
$__________ to get the amount that is left for your variable expenses
$__________
Variable Expenses
Divide the amount from above into the following categories. You may have to
make a few hard decisions to stretch the dollars. Does your student need a
$100 allowance for groceries if he or she has an unlimited meal plan?. Keep in
mind that this area is flexible.
Laundry
$_________________
Groceries
$_________________
Entertainment
$_________________
(includes dining out)
Gas and car maintenance
$_________________
Other living expenses
$_________________
(clothing, room decorations, etc.)
Total per month
$_________________
The total of fixed and variable expenses should now be equal to—or, in the
best-case scenario—less than income. If it’s not, go back over everything with a
fine-tooth comb and figure out where she can either cut back or bring in more
money.