Academic Budget Template

Making Academic Budget Template: What Should Be Included in It

Creating an academic budget template is very helpful as there are many events and activities that happen within an academic environment. Creating an academic budget will certainly be different from other kinds of a budget as it deals mostly with academic-related planning. Usually, academic budgets are made in a monthly format although it can be altered to suit a student’s needs.

What Should Be Included?

The most important thing about budgeting is to know what kind of things should be included in the budget. A student must learn to prioritize and differentiate their needs and wants. It isn’t easy to learn but it will help them throughout their entire life. Below, we listed things that should be included in the academic budget template.

Things that Should Be Included

1.  Common Course Costs

This category includes things like textbooks, technical equipment, materials, printing costs, report binding computer for course, special programs, software or apps required, and field trips.

2.  Transport

This includes the cost of transportation get to the campus (like bus, for example) as well as travel back home during holidays.

3.  Utilities

Rent, water, electricity, and gas are in this category. Sometimes, all these are already included in the rental fees.

4.  Food

This varies between students but one can eat healthily and cheaply if they buy only what is necessary, cook the food in bulk and freeze it and make packed lunches.

5.  Internet

Today, internet connection is a must rather than a luxury. As such, it is important to include internet costs in the academic budget template.

6.  Subject-specific costs

This includes extras like specific equipment for course, smart clothes, and graduation outfit.

7.  Toiletries

A student should set aside money for essentials items like shower gel, toothpaste, and other toiletries.

8.  Clothes

This too depends on each individual student. Just be sure to take advantage of student discounts or clothes swapping for a cheap alternative.

9.  Insurance

This is often overlooked but a student’s belongings like clothes, smartphones, laptops, special course equipment, etc. can worth thousands of dollars. This is why insurance is important.

10.  Entertainment

A student should allocate their budget for entertainment for things like club subscriptions, socializing, gigs, student nights and so on.  

These are things that should be included in an academic budget template. Keep in mind that here we explain the budget in a general manner. How the final format will be, of course, should depend on a student’s needs. The best template will be the one that suits a student the most. We hope the above helps.