Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Planning and monitoring your budget will help you identify wasteful expenditures, adapt quickly as your financial situation changes, and achieve your financial goals.  When you actually see the breakdown of your expenses, you may be surprised by what you find. This process is essential to fully grasping how things can add up.  Creating a budget will decrease your stress levels because, with a budget, there are no surprises.  Unexpected car problems or medical bills?  That dream vacation your best friends are planning?  With a budget, you don’t have to panic or wonder if you have the money—you already know.  This sense of financial clarity is important not only in college, but throughout life.