Developing and following a budget is an important part of your future financial success. A budget is nothing more than a plan for paying expected monthly expenses with available funds. Income minus expenses equals your discretionary income - money left over to be used for whatever you choose.

It is important to know that you have the power to manipulate your expenses. Record your expenses below to determine your financial situation.

Estimated Monthly Gross Income	$	(estimated gross annual salary divided by 12)
Estimated Monthly Expenses	Amount	% of Gross Income
Monthly Savings	$	%
Taxes/Salary Deductions (33.3% is a good estimate of taxes and other salary deductions.)	$	%
Student Loan Payments	$	%
Rent/Mortgage/Condominium Fees	$	%
Car Payment	$	%
Insurance Premiums	$	%
Child Care	$	%
Utilities	$	%
Food	$	%
Clothing	$	%
Medical/Dental	$	%
Household Expenses	$	%
Transportation Expenses	$	%
Credit Card Payments	$	%
Total	$	%
Discretionary Income	$	%

Budgets are always a work in progress, and how you manage your financing plan is up to you. Here are a few ideas to consider.

Discretionary Income = Positive Number
	Make larger payments on your student loan account.
	Pay down any consumer or financial obligations.
	Spend more on your lifestyle.
	Seek advice from a financial professional on how to make the most of your income.

Discretionary Income = Negative Number
	Select a different student loan repayment plan that allows for lower monthly payments.
	Consolidate your federal student loans.
	Evaluate your spending on your variable expenses.
	Seek advice from a financial professional.