Being a student means you will likely have very little money, a whole lot of expenses, and a bunch of pressure to get great grades. Besides your studies, keeping on top of money will be one of your biggest challenges.
In short: you’re going to have to learn how to live on a budget! Sound boring? It doesn’t have to be – but it is an essential part of succeeding at university. Why? Most of the cash you will spend is going to be borrowed money. Eventually, that borrowed money will have to be paid back.
Budgeting will help you be better prepared to pursue your goals.
Making a budget is not as hard as you may think it is.
A budget is basically an itemized summary of likely income and expenses for a given period of time. Budgets help you determine whether you can buy that afternoon Venti Latte or head home and make your own instead.
A budget provides you with a tangible, organized, and easily understood analysis of how much money you have coming in and going out. It’s an invaluable tool to help you prioritize your spending and manage your money—no matter how much or how little you have.
Get started: plan your budget
Let's start this process by organizing your money management into a few helpful steps.