Module Three
Living on a Shoestring

Introduction

Individuals are more successful with money management when they develop good budgeting skills. In this module you will complete annual and multiyear budgets to assist with determining how much money you will need for the length of your post-secondary courses and programs. It is assumed that you have completed basic career planning, have a specific career goal in mind, have a clear understanding of how you spend money, and possess basic arithmetic skills.

Learning Outcomes

Using information gained around spending habits, you will develop a one-year budget as well as a longer-term budget based on the length of the selected educational program.

Learning Objectives

At the conclusion of this module you will be able to:

• Identify and list all direct and indirect educational costs and living expenses on a monthly and annual basis, as well as over the entire length of a selected educational program.
• List all existing and continuing sources of income that will be available to you while attending university or college.
• Determine the amount of money needed beyond these sources.
• List all living resources that may be available that cost little or no money.
• Review budget models and focus on the one that is most appropriate for the student.
• Develop an annual (one year) budget.
• Develop a full educational budget.

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