![]() ![]() ![]() While monthly fixed expenses come with bills and reminders, flexible spending does not, so it’s up to you to keep track. ![]() What are your flexible spending expenses? These include food not covered by a dining plan, clothing, and leisure activities.What are your fixed expenses-ones which do not change month to month? Include all housing costs not covered by financial aid, as well as utility and credit card bills, and other monthly payments.Do you have a job or jobs? What is the minimum income each job will provide after taxes and other withholdings? Never budget on the maximum.If you receive financial aid, will you receive a refund that you can apply to other expenses?.How much (if any) income will you be receiving from family or caregivers? Is it a fixed amount?.Use our budgeting worksheet tool → Identify your resources We’ve created a tool to help you make your own budget and figure out how much it might cost for a year at MIT. Keeping a close eye on where your money has gone helps you make wiser choices about where it should go. The basics of budgeting are simple: track your income, your expenses, and what’s left over-and then see what you can learn from the pattern.
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