Know Your Money
Before you borrow, know how you will pay it back.
Find out what actually comes in, what truly must go out, and how much you can safely save.
“Before you borrow, know how you will pay it back.”
A credit limit is not income. Student loan proceeds are not income. And a financial aid refund may include borrowed money — it can feel like a payday, but part of it is a loan you'll repay. Plan with it the same way you'd plan with borrowed money: carefully.
Monthly budget calculator
Income − essentials − flexible spending − savings = money remaining. Use monthly figures for everything.
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Paid every two weeks? You usually receive 26 paychecks a year. Paid twice a month? You receive 24. Same monthly total, different rhythm — which is why a biweekly month can feel bigger.
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Begin a small savings habit in this phase — before you ever apply for credit. Even $10 a month builds the reflex of paying your future self first, and gives you a cushion so a surprise doesn't become new debt.
Phase 1 checklist
Check things off as you go. Saved on this device.