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Guide To Surviving On A Student Budget

17 August, 2016

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Being a student is one of the hardest challenges ever, you have to study hard and let us not forget, budgeting. Your tuition fee must be skyrocketing on the roof, you are far away from home and you have little money left between you and poverty. Your expenses might consist of: eating, entertainment, miscellaneous activities and many more.

Below are a few guides to surviving on a student budget.

Tips to making a living financial plan

Involve your parents: Your parents are the sole providers of everything, from your tuition fee, to the provision of your pocket money. It is very wise to always sit down with them and plan for your college expenses, make sure you are on the same page when it comes to your expenditure planning.

Set a time on your budget:
Setting a time frame for your budget is very essential. Does it run for a whole month or semester? Having this guideline will help you accomplish your wants and needs as a student.

Note down all your expenses: List down all your needs and wants, a student's college expenses include: tuition and fees, food expenses, books and supplies, housing, communication, transportation and many more. Recording your expenses can determine whether you are spending more or less on your budget. If more, you need to cut on your costs, like buying clothes at sales, riding a bike to college, use more cheap custom essay writing services, or bring your own lunch from home rather than going to a cafeteria.

Remember to plan for emergencies:
That includes unexpected medical expenses; the most unexpected is bound to happen in life. Having a little money kept aside will definitely turn out to be a life saver because you do not have to use the money that you have already budgeted on.

Saving: You could either be moving to a new apartment or planning a trip, you need to save up as soon as possible. That includes, checking out your budget and planning on how you will save-up. Start small, and if you think your expenses are too much you are allowed to borrow a small amount of money.

Reach the balance: Evaluate your total expenses by adding them up, it can either you want some money left or it has gone way overboard. For the latter, you need to start spending less or find a way to bring in more income.








Don’t worry, there are 9 best apps for college students on a budget, they include:
  • LearnVest
  • Mint
  • Slice
  • Check
  • CheckPlease Lite
  • PocketBudget
  • TextbookMe
  • PayPal mobile
  • Mobile banking app
Helpful tips!!!
  • Having a student’s I.D can really be beneficial sometimes that is getting discounts in places such as the museum, movie theater and many more.
  • Deal with second-hand items such as furniture, clothes and many more; it is way cheaper as compared to buying new items.
  • Shopping online in sites such as Amazon.com which allows one to use their school's portal pages to access items.
  • Dividing costs with your roommate is the way to go plus it lessens your budget just a little bit.
 

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