Identify Your Goals
Your spending plan will only succeed if it reflects your personal priorities and needs. By listing the things that are most important to you, you will assure that those expenses are covered first. This includes those things that are essential for your education. Your other goals may include vacation, a car, or just extra spending money to go out with your friends. Having priorities will encourage you to save on other expenses.
To begin your spending plan, list your current and future goals and priorities:
Right now, what is most important to me is:
In five years I want to (be) (do):
In ten years I want to (be) (do):
Once you have identified your short and long term goals and priorities, it is time to begin to develop a plan to make them happen. The next step is to track your expenses to see where your money is going now.