Rather than pulling your hair out trying to place every expense into categories in your budget, try making “life stuff” a part of your financial plan.
- Get out a calendar, use your phone calendar or planning app.
- Make a list of the commitments you’ve already made outside of your everyday routine, like vacations, holidays, birthdays, etc.
- Write in all the regular stuff that you know will come up: rent, tuition, books, trips home, etc. You might want to peek at last year’s spending to make sure you don’t miss anything. Even if something seems insignificant, include it!
- Assign an estimated dollar amount to everything — from the future commitments to “regular” stuff.
- Add it all up and divide by 12.
- Once you understand what you need per month, make a plan to set aside some remaining funds. Making the process automatic creates an easier experience. Managing your money can feel challenging, especially in college, but a budget can help you understand how much you want to save or spend — and lead to smarter money decisions. Chase’s Monthly Budget Worksheet makes understanding your expenses super simple and helps you visualize where your money is going. 1. Set up an emergency fund. It can provide peace of mind to help with life’s unexpected surprises. Don’t be afraid to start small; even if it’s just $1 per day, you’re creating a resource for an emergency.
- Keep your eyes on your savings goals. Whether you’re stashing money away for a vacation, a car, or just that fancy new gadget, Chase’s budget feature can help you track expenses and adjust your day-to-day spending to help you reach your savings goals.
- If you’re being asked to leave a company’s official website to pay or use a method of payment not listed on their official website, it may be a scam.
- Is the person who contacted you by phone, email, or text message threatening you or saying they’ll cut off your service if you don’t pay them immediately? Legitimate companies or government entities won’t use scare tactics or ask you to buy gift cards, cryptocurrency, or send money to prevent fraud on your account, but scammers will.
- When pressured in a scam situation, stop to collect your thoughts and ask why does this random person need my personal information? Never share your social security number, banking password, or ATM pin with anyone. Digital banking and budgeting apps are useful and offer customers a great way to take control of their finances, often times allowing for a one-stop shop to see a holistic view of your current financial situation, to help avoid overspending. From within the Chase mobile app, customers can use a variety of tools to help meet their goals while monitoring their spending and saving trends. One popular feature is Snapshot, which provides daily insights into customers’ everyday spending, saving, and earning. Budgeting apps and digital banking make things easier, so why not take advantage of them? If fraud does occur, Chase Credit Journey’s identity restoration team will help you get back on your feet. Best, of all, it offers continuous support — 24/7, 365. You can always speak to someone if you have questions.
