Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Death of a Life Partner
Military Life

The first step in planning spending is to know how much is coming in and how much is going out. Some people call this a budget, others cash flow. But whatever the name you use, a budget will let you plan and know where your money goes.

For example, you can set aside the money necessary for savings, paying the rent, buying groceries and paying utilities. Subtract those necessities from your income and then you know how much you have left to spend on other things.

The following resources may assist you in creating a budget:

Tips on how to establish a budget

Personal budget spreadsheet

The Key to Creating–and Sticking to–a Budget

Money management tips every student should know

Heading Off To College Tasks

1. Managing your own money
2. Finding a place to live
3. Setting up your own banking account
4. Getting your first job
5. Using credit wisely while in school

Managing your own money Subtasks

1. Understand needs versus wants and financial priorities
2. Create a budget
3. Protect your money


NAPFA Consumer Education Foundation
8700 W. Bryn Mawr Ave., Suite 700N
Chicago, IL 60631
(847) 483–5400 ext. 106