Hey guys how you doing today it’s busy Baroque today I want to talk to you guys about something that is very important to the average uni student and that I feel isn’t really explained fully to you guys budgeting if you haven’t watched my previous video on the matter please go watch that first where I give you some tips.
On how to spend your maintenance loan as it fits quite nicely with the advice I’m about to give.
In this video now of course I’m not the best.
Budget in the world but I feel like I’m really good at not overspending which I guess is the essence of budgeting in the first place with this video I hope to show you.
Guys how I personally budget and provide you guys with like a spreadsheet.
Template of how you can do it – this is a spreadsheet.
That I use to track all my personal spendings and some other stuff like.
Net worth and like how you should allocate your student maintenance loan.
Etc so what does my spreadsheet look like this is why I used to track my spending of course in the future I want to update and add like more features to this spreadsheet like tracking your spending from month to month and week to week so that.
You can compare and see whether you’re spending more or less over a period of time so please follow me on Twitter to get these updates there should be a link for my Twitter down below following me on 12 will get you access to all my future spreadsheets as well as all the updates to this current.
One so right now my spreadsheet has three different modules one detailing the distribution of my maintenance loan one to track my net worth and the last one is to track my cash flow for my cash flow she I track all my expenditures.
And income and update my bank account balance accordingly I’ll update this every week or every couple of days depending on how busy I am normally I have a graph to the right of the table plotting my cash flow but recently I restarted the spreadsheet for uni so there hasn’t been enough data to implement this graph which is.
Why you should follow me on Twitter as I will add the graph in an updated spreadsheet in the future I highly highly recommend you plot your weekly spending as it helps you visualize your spending and kind of be more mindful a bit from week to week this acts more like a reminder on and makes you more like wary of what you’re actually spending on I also categorize my spending on for example like.
Food or like going out stuff like that I do this monthly as it helps me to see if I’m overspending or under spending on certain categories for example if in a month I spend 150 pounds.
I’m going out then that would indicate to me oh I’m going out way too much and I’m spending too much time on this and perhaps I should be spending more time on my uni work business and like YouTube lastly there are two other sheets that help me allocate my budget.
And that’s the maintenance loan spreadsheet and the net worth tracker so this is a maintenance loan sheet.
And I use it to set kind of like set guidelines for how much I should be spending on each category and I compare my spending on each category with the average students this really helps me prevent.