4. Managing a Budget
Before moving off campus, you should know how much it will cost. An example of a Budget Spreadsheet can be found in the Appendix.
Food Now that you may no longer be eating in the dining locations on campus, you need to start thinking about your options. Start by answering some of the following questions: • Do you enjoy cooking? • Do you know how to cook? • Do you have the time to cook? • Are you going to eat out often? • Can you afford eating out?
Balancing a Budget
Off-Campus Meal Plans
If your income and expenses do not balance and/or show a negative balance, here are some suggestions about how to improve your budget:
Still interested in having a meal plan? Campus Dining offers a variety of affordable meal plans for students, even if you live off campus. See your options at nau.edu/dining.
• Increase your income/resources. Obtain a part-time job, financial aid, or a loan. • Decrease your expenses. Start with the easy stuff by cutting variable expenses, like entertainment (cable services), credit card purchases or eating out. If that isn’t enough, you can cut fixed expenses by seeking a lower rent rate and/or sharing housing with others. • Change your payment schedule. There may be a better way to divide payments or spread them over the coming months. Check to see if you can adjust your payment schedule. • Monitor daily spending. Carry only as much money as you need each day. Extra cash in your pocket is often a temptation to spend. • Plan for extra expenses. When planning your budget, do not forget to take into account times during the year when your spending might be higher, such as for air conditioning in the summer, heat in the winter, and gifts during the holidays.