| Expenses
for college students, as for anyone else, fall into two basic categories:
1) fixed which are the same every month such as rent, and 2) flexible
which vary from month to month such as your electric bill. In order
to be successful at handling your finances (if you don't already
have a budget that's working for you) it's smart to develop good
budgeting habits right away. You can start by prepaying your fixed
expenses whenever you possibly can. When dealing with your flexible
expenses, it might be helpful to take a mental walk through your
day to get an idea of how and where you typically spend your money.
Your best bet though is to actually track your expenses. This can
be done by carrying a small notebook with you so that you can write
down every single penny you spend. It is more accurate
if you can do this for at least a month, but even recording a few
day's worth of spending will be helpful. This will help you to budget
more accurately, and in the event that you need to make some cuts
to your budget, knowing exactly how your money is being spent will
help you to find areas for possible cuts. Above all when making
your budget, remember to be realistic!
It doesn't make any sense to design a budget that's
too restrictive that you'll never be able to live with it. Additional
Resources:
Mint.com click
here Studentdebthelp.org:
Budgeting click
here
12
Money Management Tips for College Students
click
here
Tips
for Undergrads
click
here
Budgets
for Recent Grads
click
here
Put
Your Student on a Budget
click
here
Collegeboard's
Tip Sheets for Students
click
here
Headed
for College: Budgeting
click
here
Headed
for College: Working in School
click
here
EdWise
Financial Planning Guide: Higher Education at a Lower Cost to Planning and Paying for College
click
here How
to Build Your First Budget click
here Good
Debt vs. Bad Debt: Both are Tough in Your 20's click
here Internet
Sites with Information on Budgeting click
here
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