Monthly Budget – Coursework Example

Monthly Budget Lecturer Paper During tough times, it is prudent that we learn how to manage our finances. All the unnecessary expenditure should be cut and the important once streamlined to match with what the pocket can offer. The strategy which is advisable and directed towards reduced spending and increased income expansion can help save on costs and make one thrive in life. Students usually find it tricky to prepare a budget which they believe consumes a lot of time, but financial advisers recommend its worthiness. Besides training students how to be responsible, it helps them prioritize on the specific things they need. (Dyson 2001)
Some of the ways to help manage finances include making lists of all the things that are required and their costs. The second thing is to determine if there are any shortfalls. This involves matching the amount with the required expenses. Then determine ways to cut on the costs and deposit the remaining amount into a savings account. (Dyson 2001)
Being a student, there a many things that Jane might yearn to spend her money in. A student life usually involves the following costs rent, utilities (mobile phone, household), and groceries, books, clothes travelling, cinema, with an income of $2,000, Jenny cannot afford to but all the materials that she requires. Jenny can work with the following budget
Variable
Rent
Utilities
Groceries
Other
Savings
Total
Cost
$ 350
$ 300
$ 700
$ 300
$ 350
$2000
This paper is convinced that this sample budget will help meet the fundamental needs of Jenny. If she strictly follows this then it is likely that she will have a successful stay in school. The budget is also designed to help her save which is an important component in financial management.
References
Dyson, J. R. (2001). Accounting for non-accounting students (5th ed.). Harlow, England:
Financial Times Prentice Hall.