Financial Basics

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Email finlit@syr.edu  to make a virtual appointment with a Smart Money Coach!

Build Your Budget

Download and use the Orange Budget to take control of your money. Start budgeting today by following these four steps:

  1. In the “Monthly Income” section, enter all of your income for the month from different sources, after taxes have been taken out.
    1. If you receive a refund from Financial Aid, whether it be from a loan or a scholarship, divide the full refund by the number of months you need the money to last. This is the number you will enter in the “Planned” column.
  2. In the “Expenses” section, enter all of your planned monthly expenses.
    1. If you live on campus you may not have all of the listed expenses. Simply ignore those categories that do not apply to you and enter the expenses you do have, such as buying food outside of meal plans, phone, entertainment, and personal items.
    2. If you live off campus, add in your additional expenses such as rent/mortgage and utilities. Here is a link that will give you some ranges to consider.
  3. Subtract your expenses from your income. The Orange Budget does this for you.
    1. If you have money left over, budget the rest to whatever you decide, whether it be saving, spending, or paying off debt. Give every dollar a job. Once income minus outgo equals zero, you have a zero-balanced budget.
    2. If you are spending more than you make for the month, lower your expenses or raise your income. Contact the Financial Literacy Office for help making a plan.
  4. Re-visit your budget daily to enter what you have actually received or spent.
    1. In the “Received” column, enter your income as it actually comes in to see if you projected accurately.
    2. In the “Spent” column, keep track of what you are spending throughout the month to make sure you do not exceed what you planned.
    3. Are you on track? Do you need to curb your spending for a few weeks? Your budget may not be perfect, but it will help guide you to financial success over time.

Orange Budget Excel

Saving at Syracuse

Bird Library – Syracuse University-affiliated patrons can check out a wide selection of technology for personal use.

Carnegie Library – Resources include textbooks, TI graphing calculators, Mac and PC laptops for loan, geometry kits, and math-education curriculum materials.

Off-Campus and Commuter Services – Search for apartments, off-campus living, rental issues, and more.

BrainFeeders – CSA/fresh produce delivered on campus.

Bike Share – Free bike rentals from Schine Student Center for up to 24 hours.

Centro – Make use of the Centro buses while traveling around campus and the surrounding area.

Zipcar – Syracuse University has several zipcar stations located on main and south campuses. Rent a car for a few hours or for the whole day.

SU Drumlins – Full-time undergraduate students can play tennis and golf for free during the academic year. Undergraduates and full-time graduates (including Law and ESF students) can also attend free tennis instructional clinics (SUID required for all).

University Union – Puts on free movie nights on Fridays and Saturdays.

Orange After Dark – Affordable, epic late night programs and events for SU undergrads.

Schine Student Center Box Office – Stop by the box office to pick up discount passes to Regal cinemas.

Show your SUID at the stores listed below to receive the following discounts:

  • Alex and Ani: 10% off in-store non-sale items
  • Ann Taylor: 15% off (excludes sales and promotions)
  • Banana Republic: 15% in-store, full priced items
  • BC Surf and Sport: 10% off full price items only
  • Glow Golf: $1 off each person with a party of five or more
  • J Crew: 15% off (exclusions may apply)
  • Master Cuts: 10% off
  • The Limited: 15% off in-store purchases
  • Villa: 20% off on Thursdays (excludes sale items, AF1, Jordan and Timberland 10061)

Helpful Principles Now and Beyond Graduation

There are five common principles that make up the pillars of personal finance. Knowledge of these concepts, coupled with discipline over time, will help you make today’s money decisions and plan for a strong financial future.

1. Don’t Buy Stuff You Can’t Afford

Done wisely, borrowing money can help you establish and build credit. However, interest, fees, and over-borrowing can be detrimental to your financial future.

2. Give Every Dollar a Job

When it comes to spending, having a plan and shopping for the best value can make a big difference to your bottom line.

3. Understand Your Future Salary

Income is your greatest wealth-building tool. Making smart decisions with your money starts with being knowledgeable about your pay and benefits.

4. The Best Defense is a Good Offense

You can protect your wealth and reduce financial stress by building an emergency fund, protecting against identity theft, and having proper insurance coverage.

5. Pay Yourself First

Kick-start your financial future by saving early and often. It’s never too soon to put away money for a home or retirement.

Learn More

Learn how the decisions you make today will impact your future. Contact us for additional information or to schedule a financial coaching session.

Email: FinLit@syr.edu
Phone: 315.443.5909
Address: 200 Bowne Hall, Syracuse, NY 13244