Personal Financial Plan for a Student Working

1. Set Financial Goals:

 Short-term goal: Save $500 for emergencies within six months.

 Medium-term goal: Save $1,000 for a study abroad program within one year.

 Long-term goal: Pay off all student loans within five years after graduation.

2. Income:

 Monthly part-time job income: $800

 Annual scholarship: $2,000

 Total Monthly Income: $800

3. Expenses:

 Rent: $400

 Utilities (electricity, water, internet): $100

 Groceries: $150

 Transportation (public transportation, fuel, maintenance): $100

 Dining out/entertainment: $75

 Cell phone bill: $50

 Health insurance: $75

 Miscellaneous (personal care items, clothing, etc.): $50

 Total Monthly Expenses: $1,000

4. Savings:

 Emergency Fund: $50 per month

 Study Abroad Fund: $100 per month

 Total Monthly Savings: $150

5. Debt Management:

 Student Loan Repayment: $100 per month (minimum payment)

 Additional Loan Repayment: $50 per month (if possible)