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Creating a College Budget?

A photo of Anonymous Anonymous
Hello everybody :)

So I'm trying to create a monthly college budget and I have seem to hit a snag. I was hoping you guys could give me a hand with a few questions...

a) How much does it cost to do laundry at college?
b) How much does it cost to grocery shop? (My school does not have a meal plan)
c) How much should I be putting away for entertainment?

Thanks for all your help!
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1 replies
 
A photo of ktel ktel
I can give you my current budget, as a grad student living in an apartment in Toronto (with my boyfriend). My budget is $1500 a month. I spend:

$500 on rent
$50 on cable
$20 on laundry (I typically actually only spend $10 a month on laundry so far)
$50 on cell phone
$320 on groceries and eating out
$105 on a Metropass
$125 on entertainment
$60 on clothes
$100 on personal items (medications, hair stuff, lotion, etc.)
The rest goes to savings

In addition to this I've budgeted for a variety of lump sum expenses (tuition, travel, books, Christmas gifts, etc.). I get my $1500/month budget by taking my entire income for the year (I get lump sum payments because I am paid with scholarships) and subtracting my lump sum expenses. I'm then left with what I can spend every month. Keep in mind that my boyfriend works full time and inevitably he ends up paying for some things for me.

http://www.gailvazoxlade.com/ has some good tips and a spreadsheet for students with lump sum income and expenses.
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