TMCC Financial Literacy Guide

2 BUDGETING AND SAVINGS As a college student, you need to learn how to manage your fnances, plan for changes, and prepare for the unexpected. You can do this by building and maintaining a monthly budget. This will also help you reach your fnancial goals by allowing you to save money. WHAT IS A BUDGET? A budget is a spending plan based on your estimated income and expenses . In other words, it is a summary of the amount of money you will earn and spend over a certain period of time, usually a month or year. A budget is based on future goals and objectives.