Spending 101

The best part of making money is being able to spend it! In this section, we will talk about spending money, and share some resources to help you make good spending decisions.

It is important to find a balance between the money you spend on necessities, the money you save, and the money you can spend on whatever you want. The easiest way to differentiate is by making a budget. A budget is a way for you to determine how much money you need to spend per month on necessities such as rent and food, decide how much you wish to save, and then understand how much money you have left over to spend.

When choosing what to spend your money on, you must first set aside money for your necessities…

When choosing what to spend your money on, you must first set aside money for your necessities(rent, food, utilities, toiletries, etc.). Put aside slightly more than you think you will need — better to end up with extra money at the end of the month than not enough. 

Once you have put aside money for your monthly necessities, you may wish to allocate about 15 to 20 percent of your income to savings. These savings can be used in case of emergencies, and can also be invested in order for your money to grow.

After that, you are left with the money you can spend on whatever you want. Make responsible decisions — you might not want to spend all of your money on one thing — but as long as you have a budget and have set aside the necessary amounts for expenses and savings, go ahead and treat yourself… responsibly!


Spending Resources

Topics: Financial Aid; Spending; Taxes

Want to better understand what you are paying and when? Want to keep track of your payments? Looking to learn more about financial aid, or tax reporting? Click here to learn more.

Topics: Banking; Budgeting; Spending

What is a credit card? Is this your first credit card? If you are having trouble selecting a credit card that is right for you. There are some helpful tips in this article including learning more about different types of credit cards and how to successfully apply for one.

Topics: Budgeting; Spending

As you prepare for grad school, you may need to take standardized admission exams. If you are eligible, you may apply for a graduate exam fee waiver for the GMAT exam.

Topics: Budgeting; Saving; Spending

Are you looking for a quick way to keep track of your monthly spending? Budgeting is important, and this calculator makes it easier to keep track of your expenses and allows you to set monthly saving goals.

Topics: Banking; Budgeting; Loans; Saving; Spending

A personal finance website covering broad range of topics such as credit cards, loans, financial planning, insurance and mortgages.

Topics: Budgeting; Earning; Emergencies; Employment; Financial Aid; Grants, Fellowships, and Awards; Investing; Loans; Saving; Spending; Student Loans; Taxes

Looking to get some money for summer travel? Cant figure out how to fill out that annoying financial doc? Or just looking for some pro tips on financial wellness? We have you covered. This page is full of amazing resources, curated and written by folks who's primary interest is your financial well being. Click on any of the campus resources below to learn more

Topics: Emergencies; Spending

Are you looking to send money to your family in a different country? TransferWise is a cheap, fast way to send money abroad.

Topics: Budgeting; Spending

If you are having trouble being approved for your first credit card, it could be due to your lack of credit. Here are some helpful tips in case you need to build credit from scratch in order to one day obtain a credit card or a loan from a bank.

Topics: Budgeting; Saving; Spending

Love to save $$? Your YCC representives compiled this list of local discounts for Yalies including resturants, online discounts and others.

Topics: Banking; Spending

A low credit score can have a large impact on your daily life. It's very important to learn how to manage your credit score and how to improve. This article has helpful tips!