Budgeting 101:
Your Money Guide For Getting Through School
Part Two: Budgeting
Step 4 - Discretionary Expenses
Discretionary Expenses are items that are not necessary for survival. If your expense to income ratio is out of balance and you are spending more money than you earn, items from this category should be eliminated or cut back.
Discretionary Expenses
| Monthly Expenses |
Current Expenditure |
Adjusted to Balance Income |
|---|---|---|
| Entertainment/Recreation | ||
| Movies/Plays | ||
| Dining Out | ||
| Sporting Events | ||
| Magazines/Newspapers | ||
| Barber/Beauty Salon | ||
| Hobbies | ||
| Fund Raisers/Organization Dues | ||
| Other | ||
| Other | ||
| Other | ||
| Total |
Tips:
Smart Spending Techniques, Practices and Recommendations
- Begin saving one dollar-a-day and all pocket change, everyday
- Wait for sales
- Comparison-shopping sometimes can save you more than 50 percent
- Make two shopping trips:
- On the first trip compare prices, value, etc. Avoid carrying credit cards, too much cash or a checkbook on the shopping trips.
- The second trip is when you will actually make the purchase after having determined the best value
- Use coupons wherever possible and send in for rebates
