Getting your first job offer is exciting, it comes with a sense of accomplishment realizing that your hard work at school has finally paid off. Yet, according to the (2016) national statistics the average college student graduates from college with a $37,172 in debt while the average entry level salary is $48,707. These numbers emphasize the necessity of a well-planned budget to account for monthly expenses, debt payments and savings. A good budget serves as a powerful tool to provide an insight as to where your money is invested and setting up large future purchasing plans. Given the breakdown of your spending it may also be easier to see where you may cut expenses to achieve your savings goals. Creating a Monthly Budget – Income vs. Expenses Come up with a calculation for all sources of income: this item includes your salary, students’ scholarships as well as financial support from your parents. Make a detailed list of your expenses: the list should provide a brea...