Separate Needs From Wants (6/20)

It may be tempting to create a budget with your needs AND wants in mind. For first time budgeters, students should first determine what they need to spend money on (rent, food, school items, etc.) and what they want to spend money on (activities, entertainment, etc.). The things you need to spend money on should be the first priority when creating a budget. After that, determine what amount of money you want to be saving. Then, see if there is some extra leftover each month that you can put towards things you want to spend money on.

Contributors: Alayna Pehrson from Best Company

Written by Ben Skute

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