![]() ![]() You can also save extra cash by opting to purchase or rent used textbooks instead of new copies. For instance, instead of spending money on dinners out, get your friends together to make a meal in the dorm. If it looks like you’ll run out of money before the semester is up, look at areas where you can cut back. If you have money left over, consider using it to boost your savings to cover any unexpected expenses. Do the mathĪfter totaling your income and expenses, determine how much you can spend on your needs for the whole semester, including visits home, class materials, and groceries. This tool allows you to view your spending and savings in easy-to-understand charts. To get a better visual, try using My Money Map. It’s helpful to separate your expenses into categories like housing, food, entertainment, education, etc. Then list your expenses based on your spending log. ![]() Include what you’re earning from your job or Federal Work-Study, your allowance, financial aid, and scholarships. Make a list of your income and expensesĪ budgeting worksheet is one way to document what you're spending and the money you have coming in. Consider using a budget tool like My Spending Report, Wells Fargo's online money management tool. Before you create a budget, keep a spending log for a month or two and record every penny you spend. The key to budgeting is being honest with yourself about what you’re spending money on. As a college student, this may be your first budget, so here are some tips to help you get started: 1. Here are a few budgeting tips to help you manage your money while in school and avoid unplanned debt later on.Ī budget can help you manage your spending to save for short-term needs – like books for the upcoming semester – and future goals such as a spring break vacation with friends. The newfound freedom of college life often puts you in control of your money for the first time. ![]()
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