It's important to list due dates for bills. Understand the dates of when you receive income and when you'll be paying bills. When possible, readjust bill payments according to when your income arrives. Try putting both your pay dates and your due dates on a calendar to be able to visually track your money coming in and out.

Need a worksheet for an example how to track cash flow on a weekly/monthly basis? Use this fillable pdf to get started!

Use the method that works best for you. There are many methods available such as:

• Excel Spreadsheets

• Cash Envelopes System - after tracking your spending for a month, decide how much money goes to each category and place in an envelope. When that cash is gone, it is gone for the month

• Apps - There are money apps available out there such as Mint, You Need a Budget, Good Budget. See the flyer above or check out the list from this article.

The goal of budgeting is to find ways to increase your income, reduce spending, or both, to bring the net outcome to be ZERO or a positive number.

You may need to make some choices and reduce things that are non-essential, cancel any unused memberships and subscriptions, reduce utility use, seek additional income.

Utilize local resources and programs out there such as food pantries, public benefits, and take advantage of local and campus resources!

You want to convert as many variable expenses into fixed expenses and constantly monitor these trends. You can even try to negotiate billing periods and prices for some of your bills or find alternatives that better suit your budget. Lastly, remember to plan ahead for any surprise emergencies that may arise.

What are your life and financial goals that you want to accomplish? Create a list of your hopes and dreams that you can turn into goals.
Examples:

• Pay off student loans

• Build your savings

• Pay down debt

Hopes and dreams are motivational, but can be very vague and open-ended that's why it's important to get specific with your goals in order to achieve them.

SMART Goals
S - Specific | M - Measurable | A - Achievable | R - Relevant | T - Time Bound

List what you value most and what you want out of life for you and your family.

Specific goals look like "I want to take a trip to Hawaii" versus "I want to take a trip." Being specific can help you plan for your trip to Hawaii in detail.

Make sure your goals are Measurable. For example, saving 10% of your paycheck or saving $5 a week until you reach your goal. Having measurable goals helps with tracking your progress.

Goals should a stretch for you, not impossible and out of reach. Achievable goals can be a lot to tackle so break them down into smaller goals if needed.

Make your goals Relevant to the things you value and want from life for yourself. This helps you prioritize and you're likely to put more effort into these goals.

Set Time Bound goals, a defined time frame for when you would like to reach your goals. This ensures your goals are measurable and that steps are being taken to reach the goal by a certain date.

Put your goals into action. How do you plan to achieve these goals? Create an easy-to-follow plan.

• List out small actionable steps to achieve your goal

• Consider what resources you will need

• Set a deadline

• Accountability goes a long way so share your progress with a family member or friend