Georgia Student Finance Commission

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Maintaining a Balanced Budget - Paper and Pencil

College Money Matters

Maintaining a Balanced Budget - Paper and Pencil

Now, we are really thinking about the basics. 

Simply, paper and pencil…add and subtract. When you really think about it, that’s all it is. 

Do you remember when you opened a checking account. There was a ‘check register’ given to keep track of the account balance. That same methodology can be used for your spending plan. 

Begin by writing the name of the category on the top of a piece of paper. On the right side of the paper, write in the amount budgeted for that category. As you spend money from this category, record it on the next line and begin subtracting as you spend throughout the month. Do this for each category and you will be well on your way to financial success.