Step 1--Calculate Your Projected Income by estimating the amount of money you will have to cover your expenses for the semester. This includes savings, job earnings, financial aid, and money from
parents

Step 2--List Your Fixed Expenses. These expenses do not vary, such as tuition and fees. The University develops standard budgets for categories of students represented within the school's population

Step 3--List Variable Expenses. Variable expenses are subject to a certain amount of control from you. These include housing and meals, books and supplies, transportation, personal expenses, insurance, and clothing

Step 4--Total Expenses. Add your fixed expenses to your variable expenses to obtain your "total expenses."

Step 5--Balancing Your Budget.
Subtract your total expenses (Step 4) from your projected income (Step 1). If your estimated expenses are higher than your projected income, you should find ways to reduce your spending.