Budgeting
The Importance of Budgeting and How to Get Started
Creating and following a personal budget is one of the most important skills you can learn through Financial Literacy. Budgets allow you to record your income and track your spending. This knowledge is crucial when you are trying to determine what you can and cannot afford, or where you can cut back on spending.
Even if you don't have a job, any financial aid received should also be included in your budget to put toward your educational expenses.
Start Simple
Make a list of all sources of income or financial assistance and then list everything you must pay for in one month. Your goal should be to not spend more than the funding you receive or earn.
Budgeting Your Meal Plan Each Semester
Calculate your weekly and daily meal plan spending estimates:
- Total Beginning Semester Balance / 14 weeks (1 semester) = Weekly Spending Average
- Weekly Spending Average / 7 days (1 week) = Daily Spending Average
Managing Your Meal Card
Use the Pace Mobile App on your phone to track the amount you have spent at Pace dining locations.
Helpful Meal Plan Resources: