Part I
Objective
- Track your personal spending habits
Directions
- Monitor what you spend money on for a week.
- Use the template, below, to record your findings.
Weekly Spending Tracker
Total Income:
Day | Expenses |
Monday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
Tuesday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
Wednesday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
Thursday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
Friday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
Saturday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
Sunday | College-Related Expenses (tuition, books, etc.):
Rent/Board: Food: Transportation: Leisure: Misc.: |
At the end of the week and after reviewing your spending habits, did anything surprise you?—such as, “Who knew that I was spending so much on pizza and parking?”
Part II
Objectives
- Track your personal spending habits
- Define strategies for cost-cutting in categories where you currently spend the most
- Explore savings opportunities for college students
Directions
- Carefully analyze the personal spending you monitored for a week during Part I of the activity.
- Identify the three spending categories in which you spent the most money.
- In which two of those categories could you cut costs? For example, perhaps you spent the most money on rent, food, and leisure. Rent is typically a fixed amount, but you may be able to brainstorm ways to save on food.
- Identify three strategies you will implement this month to save money.