Assignment: Saving

Part I

Objective

  • Track your personal spending habits

Directions

  1. Monitor what you spend money on for a week.
  2. 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.