HOW WILL I LIVE?

1. What is the total tuition/room and board that you (or your parents) pay to Longwood per semester?
2. Figure out the number of days total that you are in all your classes (count up the number of times you are supposed to be in a class).
3. How much do you pay per class period?

Question: What is the difference between a “need” and a “want?”

For one week, please do the following:

Income:

Add up all your sources of income per semester. This may include the following:

1. Allowance from parents.
2. Student Loan refund.
3. Money earned from summer or current work.
4. Total Lancer Cash (cash not the dollars)
5. How much does this add up to per week (consider a 16 week semester).

Expenses

For one week, total up your total number of expenses. This SHOULD include the following (it doesn’t matter if it’s your money or your parents, it goes on this list):

1. How much do you spend at retail stores such as Walmart, Pairets, etc.?

2. How much do you spend on food using Lancer cash or regular cash (coffee, pizza, etc.)?

3. How much do you pay for bills (Cell phone, insurance, etc.)?

4. How much do you spend on gas each week?

5. Any other expenses?

What is the difference per week between your income and expenses? Are you in the red or in the black?

Looking at your income, are there feasible ways that you can increase your income? More importantly, look at your expenses, of those expenses, which are needs and which are wants?

Finally, prioritize your expenses in terms of those you absolutely will not change and those you are willing to change tomorrow. Discuss why you prioritized your list in this way.