Your MBA Budget

Question

I’m an absolute fanatic when it comes to managing my personal finances. On a daily basis, I know the value of my personal stock portfolio, 401k, total net worth, etc. I have been managing a personal budget for nearly three years. With people about to enter MBA programs in mind, I’ve adopted a version of my budget and made it applicable to planning for your first year of school (I’ll do a two year version for version 2.0 whenever I get more time). Frankly, this is nothing particularly specific in regards to MBA budget planning. In fact, you could use this for your non-MBA or post-MBA life. As I said, I have been using a similar version for ~3years. However, since I realize that people are generally much less fanatical or inclined (for lack of a better word) about personal finances, at least compared to myself, I’ve adopted a simpler form of my budget/planning tool to help you prepare for the massive financial burden known as Business School.

Feel free to ask any questions. Also, let me know if you come across any errors or have any suggestions for improvement.

Cheers,
ryguy

PS And for those that are interested, I have a more “hardcore” version that allows you to track your expenses on a daily/monthly/yearly basis. Furthermore, you can compare it to the forecast/projections that you made. If there is enough demand, I’d be willing to scrub my personal data and publish that as well.

Attachments

File comment: Your MBA Budget
MBA Budget v1.0.xls [73 KiB]
Downloaded 1493 times

Feel free to ask any questions. Also, let me know if you come across any errors or have any suggestions for improvement.

Cheers,
ryguy

PS And for those that are interested, I have a more “hardcore” version that allows you to track your expenses on a daily/monthly/yearly basis. Furthermore, you can compare it to the forecast/projections that you made. If there is enough demand, I’d be willing to scrub my personal data and publish that as well.

dghazer · Answer

Nice spreadsheet. I thought I was pretty good at tracking my personal expenses, but I am not in the same league. I wouldn't mind taking a look at the more hardcore version as well.

agold · Answer

Ryguy,

Are you matriculating at USC?

ryguy904 · Answer

I'm waiting on Anderson right now (WL). Otherwise, I'm going to have to decide between USC and reapp. I felt like I was so close with Columbia that it may be worth the chance of applying ED. I'm supposed to have a feedback session with my Columbia WL manager soon. I'm hoping to find out how "competitive" I really was.

agold · Answer

Makes sense - Best of luck and keep us posted.

sondenso · Answer

Thanks Ry, very helpful!

kryzak · Answer

Nice Ryguy! I'm equally fanatic and have been using Microsoft Money to track *every* single expense I've had since 2001 daily. Even during vacation. This way I know exactly how much I'm spending and if I'm violating any of my budgets.

I encourage everyone to do that while in school, since you are no longer earning an income and can easily end up in more debt than you can handle post-MBA (even with a cushy I-Banking job).

trader1 · Answer

great spreadsheet ryguy.

very detailed. i have my own type of spreadsheet as well, but yours puts mine to shame!

89nk · Answer

Great excel sheet! I made my own during my second year in college, but no where near as well put together as yours.

VictoryMBA · Answer

I don't make a lot of money, and subsequently don't have too many expenses. My expenses are literally only rent, food, and beer. Work pays for my blackberry, rent includes utilities, and I don't have cable or internet, and no car. I use the extra money to get beer and order pizzas on the weekend :lol:

Post MBA I hope to have that spreadsheet filled! :twisted:

Nice work though, thanks!

Toploader · Answer

I can't seem download anything other than a 0kb file. I recall having this problem before but don't remember the solution. Ideas? Thanks!

ryguy904 · Answer

I can't download anything from work for some reason (but I can download at home). Perhaps you are blocked from your office as well....?

bsd_lover · Answer

Trust a CFA to come up with something like this !!!

great stuff +1

helg · Answer

Nice, ryguy904! Thanks, kudos to you! I was always a slacker when it came to budgeting, now I hope to mend my ways 8-)

MBAbot · Answer

Hello from the GMAT Club MBAbot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.

Your MBA Budget

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