Household items, such as cleaning supplies and laundry.Transportation costs (gas, bus, parking, etc.).Toiletries (soap, shampoo, deodorant, etc.).Health insurance (premiums may be taken out of your paycheck).Utilities (gas, electric, water, garbage, etc.).Renter’s Insurance or Homeowner’s Insurance.You can go through the last three months of your bank statements and credit card statements to see what your expenses are and how much they cost. Here are examples of expenses you might have in your budget. Your fixed expenses are items that are the same every month, while your variable expenses can change. You will have both fixed and variable expenses. If you are paid on a biweekly basis, you will need to multiply the amount on one of your pay stubs by 26/12 to convert from biweekly to monthly amounts. You may be able to find this information on your pay stubs. This means the number you actually deposit into the bank after everything is taken out – taxes, social security and insurance. You’ll need to know how much money you are taking home every month. How to Make a Budget Step 1: Figure out what your monthly take-home income is. The first step to is to create a monthly budget. You (hopefully) are earning an income with your first job, but there are several costs that will inevitably increase with graduation, as well. Outside of swapping class with an actual grown-up job, the biggest change is your finances. Life after graduation is a drastic change from life in college.
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