Off-Campus Living Budget
Having a budget to plan your spending each month is important when living off-campus. It is often difficult to know and keep track of all of the extra expenses that go along with paying rent like utilities, transportation and renter’s insurance. Please keep in mind the following items when developing your budget and searching for apartments that are within your budget range:
- Tuition, books, supplies and fees
- Rent
- Utilities, cable, internet, water, garbage and recycling – are any of these included in your monthly rent payment?
- What fees are charged when signing a lease – application fees, redecoration fees, processing fees and of course – security deposits?
- Cell phone
- Pets? You will need to factor additional deposits or fees, in addition to food, medical and grooming care of the pet
- Renter’s insurance is a must to help protect your belongings
- Transportation costs – gas, car maintenance, insurance, parking or bus/train passes
- What do you plan to spend on groceries, eating out, or do you plan to purchase an on-campus meal plan?
- Don’t forget about social expenses/entertainment – you want to be able to go to a movie and have fun as well
- Personal monthly expenses such as clothing, shoes and accessories
- Savings for unexpected emergencies
Monthly Budget Spreadsheet
Looking for help with your monthly budget? If you would like an easy way to calculate your monthly spending and savings, use this chart to keep on track! You can download a monthly budget spreadsheet (EXCEL.xls) for yourself here.
Managing Your Finances
Need some additional help when considering your overall financial basics? Here are some financial quick tips when you have questions about keeping up your financial health.
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