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Whether you are a traditional college student, adult college students, adult non-students, or high school students, use these budget worksheets to help in your financial planning.

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because if you don't you will be broke

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Managing money while attending college can be a constant struggle. You may have limited income due to devoting your time to classroom responsibilities, or maybe you're living off of student loans and want to keep your expenses in track.

A good budgeting app can help college students keep track of their finances and help them find areas where they can cut back. Most budgeting apps can cover the basics-this article will provide you with five budgeting apps that stand out from the crowd and explain how they can help keep a college student's budget in order.

How it stands out: One word: automation. Mint securely connects to your bank account and automatically inputs purchases. It also performs handy little tricks like separating the $2.50 from a $102.50 ATM withdrawal into a fees category, which serves a nice reminder to try and keep those fees down.

Why it's good for college students: You spend less time entering every purchase, which is one of the hardest parts of keeping a budget. Mint allows college students to focus on what categories their budget breaks down into and areas they can cut back on.

2. Toshl Finance (iOS, Android)

How it stands out: Toshl Finance has a simple, good looking interface that is very easy to pick up on. That simplicity makes setting up a monthly budget for college students a breeze-all you need is to input your income and your expenses with reusable tags to get a clear picture of where your money goes.

Why it's good for college students: Toshl's budgeting section allows you to set a hard line, for example $250 per month for groceries, that will give you a nice visualization of how close you are to going over budget. Sometimes seeing your last $20 as a tiny red sliver of a progress bar helps put you in the mindset to not overspend.

3. Left to Spend (iOS)

How it stands out: Left to Spend keeps it simple-really, incredibly simple. You set a spending allowance and then subtract from there. No bells, no whistles, just straightforward budget tracking. If you've ever tried the "$20 in an envelope every day" budgeting method, this is essentially the digital equivalent.

Why it's good for college students: Left to Spend prevents users from getting too caught up in budget details. Sometimes the time spent analyzing graphs comparing clothing and dining expenses would be better spent on things like studying.

How it stands out: Check, like Mint, works as a comprehensive budgeting app for college students. It can connect to all of your financial accounts, and also features the ability to set up bill payment reminders and notices if you're close to overdrafting an account.

Why it's good for college students: A lot of college students have never had the pleasure of paying monthly bills and consequently are a bit more likely to forget to pay. The reminders provided by this app can be a life saver for those of us who haven't got into the monthly routine of paying bills.

5. Debt Payoff Planner (Android)

How it stands out: Debt Payoff Planner allows you to find the most effective way to pay back debt, whether it's student loans or your balance on the emergency credit card. Users can prioritize debt by categories such as highest to lowest balance or highest to lowest interest rate. It also allows users to see the projected debt payoff date based on payment amounts.

Why it's good for college students: College students looking to pay off credit card debt or student loans get a clear picture of what they need to do in order to efficiently get their debt paid off. If you've ever wondered which loan would be best to pay off first but didn't want to take the time to do the math, this is the app for you.

Go forth and spend wisely

These apps should make setting and maintaining a budget for college students a breeze. Remember, keeping track of your spending is half of the battle, the other half involves spending wisely. No amount of tracking will help if you can't resist consistently going over your budget.

Now that you've got the tools to get your budget in order, check out 50 Smartphone Apps for College Students for more useful ideas. If you have suggestions for other helpful college student budgeting apps, feel free to share them in the comments section below.
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5 Awesome Apps for Setting a College Student Budget

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Managing money while attending college can be a constant struggle. You may have limited income due to devoting your time to classroom responsibilities, or maybe you're living off of student loans and want to keep your expenses in track.

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Seriously. It can be done.

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So you have already looked for scholarships, grants, and loans and are still finding it hard to pay your way through college? It goes without saying that the typical college student is either broke or financially hanging in the balance most of the time. We've assembled a long list of both practical and creative ways you can save some green while you're going to campus.

Managing the Money You Have

To save money you need to manage it. I hate to get on the topic of money management right off the bat, but if you expect to save money you need to be a bit savvy with the little bit of cash you have:

1. Get a free checking and savings account. The bank will nickel and dime you on dumb stuff like too many ATM withdrawals, too many checks written, or a funds transfer. Shop the town for banks catering to students. Make sure you can access online banking, pay bills and manage your account without attached fees.

2. Take the free checks that the bank offers in the maximum amount they allow - mine was initially going to give me 50, but for some reason I thought I needed more right away and paid $4.95 for another 50. If you need more, you simply go online and order more, but leftover checks are more typical than not, especially with online bill pay options becoming more commonplace. Extra checks become nothing more than wasted paper and wasted dollars.

3. Failure to keep track of your bank/checking account can easily cost you money via overdraft fees. Your debit card can easily get you into the red if you don't know what's in your checking account. Think your card will be declined if your account has insufficient funds? Think again.

If you go into the red in your checking account, your debit card will usually continue to work without even so much as a burp. Every time you make a debit card purchase while you have insufficient funds in your checking account you are also being slammed with a banking fee. (My banking faux pas cost me $250 in fees one weekend because I didn't pay attention to the balance in my checking account and my debit card just kept on smokin'. On top of that, the bank charged me another separate fee to transfer funds from my savings account to my checking!) Unless you have an automatic overdraft protection that enables funds from your savings account to be transferred, you can be way more broke than you ever imagined in one, short weekend. Make sure you know what banking fees you'll be spanked with if you make a mistake.

4. If you have to have a credit card, make sure you get one with the lowest interest rate possible; no annual fees and with only enough of a credit limit to get you by in an emergency. Don't carry it with you, but instead keep it in a safe place known only to you.

5. Pay credit card bills on time. Companies charge late fees, sometimes as much as $50 per month. And do not go over your credit limit-that offers just one more way for your credit card company to get rich off your poor judgment.

6. Serious about saving money, huh? For one month save every receipt of everything you purchase, from a pack of gum, a tube of toothpaste to your computer. Log each expense in a notebook. When the month is up, tally up what you've spent and take a good look at just where most of it went. Food? Beer? Gas? Games? This sure fire technique will unabashedly expose the evils of your spending ways.

7. Save that spare change you've got jangling in your pocket or sloshing around in the bottom of your backpack or purse in a big jar or can somewhere out of the way.

Count and roll spare change yourself.

Stay away from those coin-counting machines you see at the grocery store. They will rip you off or at the very least charge you a fee.¹

Alcohol

It's an expense many college students will not forego. Each year, college students spend about $5.5 billion on alcohol, mostly beer. ² So here's how to save, and some creative alternatives for your favorite beverages.

1. Don't drink. But if you must...

2. Be cheap

Buy the cheap stuff. Pabst Blue Ribbon and Old English 40 oz. bottles come to mind ;)

Buy in bulk. A cheap 5th of Vodka might cost about the same as a drink or two at a bar.

Drink where the specials are. Some college bars and dance clubs have pitcher specials, 1 dollar drink specials, no cover charge, or other specials for people going out early or going out on slower nights.

Pre-game if you do drink heavily.

Don't bring much money with you to limit how much you drink and spend.

Hit other people's parties.

3. For those beer lovers who really dislike the cheap beer, join a beer brewers club or get a group of dorm mates to brew beer. In the last few years the hobby has grown exponentially and college students everywhere are brewing. Warning: brewing may not be "legal" in your dorm room....que sera, sera.

4. Hate beer? Brew cheap wine.

5. At a sit-down restaurant avoid ordering the alcoholic beverages. Most restaurants make a killing on beer, wine and fancy cocktails. The alcohol mark up can be anywhere between 75 and 400 percent! An option is to shop for BYOB restaurants.

Books

Every college student must buy books. You've probably heard horror stories of textbook "final bills." Well, we have options that will save you money on your textbooks. Make sure to allow yourself time; don't wait to run to the bookstore the day before your class begins.

1. Before you even think about putting out money for a textbook, don't you think someone else on campus had to already have one? Borrow if it's possible.

2. If you can't borrow, buy used college textbooks. On sites like Amazon.com used hardcover books are often cheapest. Soft cover are more valued for convenience, so if you're willing to haul a couple extra ounces, then hardcover is the cost-saving choice. ISBN.nu allows you to easily compare book prices from major online book stores. The campus bookstore will sell a supply of used books, but they are limited; so check the online sources as well.

3. If you are buying new, check for an "international" edition. The book will be almost exactly the same, except for maybe some Chinese characters on the front, AND it will be exponentially cheaper.

4. Have your own store of used textbooks?

Sell your used textbooks online and make some cash for yourself, at the same time you will help some other starving students save their money.

Or you can sell them back to the campus bookstore, but expect to take a big hit on the value if you sell them back to the book store. Some sneaky students wait in the campus bookstore with their old books in hand, trying to connect with new students that need their books, hoping to strike a better payout directly.

Food

Food is one of the top priorities in a college student's life. Eating fast, eating healthy, it can all cost money if you don't take time to consider the nitty-gritty of eating to save money.

1. Trying to eat on 12 cents? Two words: Ramen Noodles.

2. If you live on campus and pay for a partial or whole meal plan, then use it. Some programs don't restrict you from taking food to go or eating as many meals as you wish. Peanut butter packets are your friend :)

3. Have a coffee fix? If you are one of millions of college students ducking into the corner coffeehouse every morning for your daily cuppa Joe, then you are wasting money.

Your daily latte, cappuccino, or mocha will run you between $2.50 and $3.50 depending on the size you need. Seven days of that routine costs you $17.50 per week, $70 per month and around $280.00 per semester! That's over $500 a year you drank in morning caffeine. Make your own. By the time you graduate from a four-year degree, you've saved over $2000 in coffee beverages. That's just one a day....Buy a decent coffee maker or even a small espresso/cappuccino machine for your dorm room or apartment. You'll save hundreds of dollars.

4. Don't tip just because someone poured you a cup of coffee. Keep your own change. Everyone wants a tip; "Poor college students work here....." You're poor, too. They have a job. Drop it in that change jar we mentioned under "Managing the Money You Have."

5. Oatmeal is fast, filling, and affordable.

1. Skip the fast food forays and late night take-out. Make sure you keep healthy, affordable options in your room or apartment. Yogurt, cottage cheese, string cheese, bagels, peanut butter are all affordable, convenient and much more healthy than a late night burger and fries.

2. Collect coupons and follow the weekly sales at the grocery store. Avoid high-end markets like Whole Foods. These are nice, but most products cost much more. Once you're out of school and have a good job you can shop the upscale markets.

3. Kick the bottled water habit; support your local tap water and drink for free. Get a some kind of filter if you want better tasting water.

4. Avoid a sit down restaurant with a large group. You'll already be charged at least 15% gratuity, and if everyone decides to "split the bill," you can really get screwed if you tried to eat cheap and didn't splurge on alcohol. Know in advance what the tone of the party will be and what will be expected so you're not surprised when the bill arrives.

5. Many people suggest sharing a larger meal at a restaurant, but make sure you're eating someplace that doesn't ding you with an extra charge for splitting.

1. Don't have anything to eat, dining hall closed? Go to a take-out joint if you must, or some other low-cost eatery where self-serve is available and you are not obligated to tip.

2. If you're on a date, prepare a simple, candlelit dinner and stay in; it's not the food that counts, but the ambianc. Get your roommates to stay out for the night. Bonus ambiance tip: don't forget the Courvoisier.

3. Save your tip if the pizza guy gets lost, your order is messed up, or he is lacking in customer service and general niceness.³

4. Want free pizza? If you are studying computer sciences, hit Google up for free pizza.

Computers - Hardware and Software

Not many college students can survive these days without their own computer, but do you need to put out the big money for a souped up version, or can you make it on the stripped down model? Begin by shopping wisely following these money-saving tips:

1. If you're buying a computer, save by shopping the student specials; discounts, rebates and back to school specials. Some regions/states even have a tax-free shopping week. Apple Computer offers student discounts to students and teachers, and consistently advertises important education incentives and rebates. I recently bought an Apple laptop because it was bundled with a free Nano iPod and a free photo printer, copier, scanner. These freebies were rebate items so I had to take the time to fill out online applications and attach copies of receipts and bar codes from the packaging, but my total savings was close to $400 for some very worthy items. Other computer companies offering student discounts:

Dell Computer offers student discounts directly through a participating college or university.

Hewlett Packard's Academic Purchase Program is available to eligible students and teachers. You have to sign up. Word has it that you can save around 15% on the purchase of an HP computer. ⁴

2. Should you go for the inexpensive desktop or the snazzy little notebook model? Okay, all college students want a sharp-dressed little laptop they can take with them to class or the coffee shop. But if you know you can do without the laptop, you will possibly save hundreds of dollars shopping the desktop models. Bank the most savings if you opt for a model that gets the job done without a lot of extra (read "costly") bells and whistles. If you MUST have a notebook, you may consider exploring the refurbished notebooks; a used laptop will cost significantly less than a model not driven off the lot yet, and in some cases you can get a darn attractive warranty and a good system to boot.

3. While you're in college don't take risks with your electronic equipment. Laptops and other trendy little electronics can be made off with quickly in a dorm environment. Unless you've bought some renter's insurance, you will foot the bill to replace.⁵ Keep your room locked and valuables stowed.

4. Software is another high-dollar item. Using Linux software will keep you away from the higher-priced Windows alternatives. You can also buy discounted software through Apple's Education Store. The company specializes in attracting college students and offers enticing student discounts and rewards. Microsoft discounts for students come in the shape of mass "licensing programs" through participating colleges and universities. Also shop online software clearinghouses for discounted products from all vendors. Many categorize by subject.

5. Freeware and shareware are a great way to get your hands on games, utilities, spyware removal, anti-virus and firewall programs:

Tucows features thousands of products free or for just a few bucks-- "rated and reviewed."

Download.com offers free music, videos, games and utilities.

6. Decline extended warranties. Your computer should be under manufacturer's warranty for the first year anyway. Companies dupe you into believing the plan is worthwhile. They become rich off your extra cash. Anything extra is likely just....extra.

7. Not only do we suggest you protect your physical property, but you'll head off future repair bills if you protect your computer investment with anti-virus software and a firewall. Anti-virus and firewall protection will keep your computer in top working order and it will last much longer. When shopping for software avoid retail electronics departments. Instead seek out some good freeware and shareware products on the sites we mentioned in #35.

8. Your computer printer is a costly headache when the ink cartridges run dry. Aaaagh! Cartridges at an office supply store can cost you top dollar. Leave with a black cartridge and a color cartridge and you will likely have spent $40 or more.

Try shopping for printer cartridges online, compare prices and find free shipping.⁶

You may be able to get your ink cartridge refilled economically from a local ink refilling store like CartridgeWorld.

If you are daring and a do-it-yourself type, ink refill kits can cost as little as $5 per cartridge.

9. Hacker ethic? Lifehacker shows you how to convert a laptop into a DVR recording fiend.

10. Have you ever tried to throw away an old computer? You cannot just put computer components in the trash, and that includes monitors and printers. Old inoperable computers must be recycled. Recycling typically costs you money. Facilities that recycle, and most municipalities do, must charge for their disposal services. Also consider asking if hard drives are "de-gaussed." This means they are magnetically erased en masse. Besides municipalities and recycling businesses, some computer manufacturers such as Dell and Apple provide customers with their own recycling programs.

Entertainment- Music, Movies, Arts and Culture

You'd think you would have plenty to keep you busy what with studies and all. How to entertain oneself, on the cheap, is one of the major concerns for college students. Our best advice is to be creative.

1. Forget about the T.V. You can watch cable television through your computer. Make sure your desktop or laptop has a DVD/CD player and you can also watch your favorite movies. Your laptop has graphics equal to most HDTVs, so enjoy.

2. Nearly as essential as the T.V. is the stereo. Today's computer speaker sets have clear high and midrange sounds with clean bass. You should be more than satisfied using your computer as the stereo. If you have your music library all set up in iTunes all you have left is to outfit yourself with a decent set of speakers and you still have saved money. Websites like Pandora create custom music channels based on a song or artist of your choice.

3. Trying to save money on going out to the movies? Hit the matinee showings. Look for free movies on campus; chances are you will find classics, independents, student films, noir and experimental.

4. Rent DVDs as a group. Pass the disk along before its due date. Everyone watches for a fraction of the cost to rent. Only share with responsible friends.

5. Subscribe to DVD rental service like NetFlix.

6. Have a stock of your own personal DVDs you don't want anymore? Turn them in for credit at most of your brand name video stores.

7. Make your own movies. Talk about hours of entertainment. Stage your own music videos or film a short. Screen for friends, share a beer and laugh your a------s off.

8. Saving money on music opens a virtual Pandora's box of methodology. If you decide to use a file sharing network program, make sure you do your research on the software program to make sure it doesn't contain any spyware or other inconvenient additions. You know, most of the mainstream pay-per-song sites cost just as much as if you went and bought a whole CD. You can still save money by just buying your favorite singles, and there are, however, many places that allow you (legally) to download music that is free- copyright-free, that is. Most of what you will get is the work of new and upcoming artists, but if you are the experimental type, you can find yourself a whole library of music. This is precisely how many future music stars are found:

9. Buy used CDs at the local music shop. Turn in your old CDs for credit and you may never have to exchange real money!

10. Start a book club. Read for entertainment, then get a group together to discuss it and enjoy each other's company. Any interest would work for group involvement: stamp collecting, scrap-booking, weight training, running, cooking, and chess. My favorite book is A Thousand Years of Nonlinear History. It rocks.

11. Study groups help keep you focused on the primary reason you're in college- to get an education. The more time you spend being focused and involved, the less time you have to spend money on frivolous things.

12. Offer your services as a tutor. Anytime you have the opportunity to help others is less time you have worrying about what you don't have or think you need. The sooner you find out that you can survive nicely on very little, the better off you will be; or should we say, the richer you'll be.

13. Avoid spending money this weekend. Be creative in what you choose to do, even if it includes a picnic, a long walk, flying a kite, a pick up game of soccer or football, an impromptu poker game (not played for money), or reading a good book.

14. Volunteer in a soup kitchen or help build homes with Habitat for Humanity. Community service activities like this will not only help you fill free time wisely, but you'll come away with a real appreciation for those who have no money.

15. Pick up a local newspaper and check upcoming events for freebies: concerts, arts and crafts fairs, theater, festivals, art galleries, and museums.

16. Opt instead one Saturday evening a month to stay in and do something alone and for yourself. Enjoy a bath and a good book. Like Kung Fu movies? Drag out the microwave popcorn and go to town. Those DVDs can't cost much to rent and maybe someone else will chip in on it with you.

17. Play on the web! The web is a virtually limitless land which will allow you to deeply explore any topic of interest, and participate in communities discussing those topics. You can also play games like Zuma or visit true time waster sites like HotorNot.com. Searching around online auctions like eBay may help you find deals while also being entertained by the prospects of bidding and winning.

Off-Campus Apartment Living

Sometimes an off-campus apartment is a choice and in other instances it just is a necessity. Living in your own digs brings its own array of money matters. Here are a few tips to help you stay in budget living off-campus.

1. Get a studio appartment or split rent with roommates.

2. Rent a place that will have all appliances provided. Bringing in your own or having to buy is a hassle. Think you can live without the microwave? You will likely wish you had one.

3. Beg your parents - they will feel a connection to you by letting you use their stuff or by buying you new stuff. The more they buy the less you have to.

4. Don't spend a lot on décor and accessories. There are plenty of resources for creative decorating that won't put you in the poor house.

Wal-Mart is, of course, dirt cheap. FedEx furniture is cheaper. ;)

Futons and bean bag chairs are always popular affordable choices.

1. Pay utility bills before they are due. Avoid late fees.

2. Save money on bills by keeping the A/C or heat turned down or off if possible.

3. Turn off lights; use the oven sparingly and take shorter showers. Electricity costs money. If you find an apartment where utilities may run on natural gas (stove, hot water heater) it's generally more cost-efficient.

4. Living on an upper floor will typically keep you warmer in the winter, but it'll get hotter in the summer. If you go to school in a region where winters are longer then upper floors are smart, otherwise live low.

5. If winters are cold and heat bills are high you can insulate your windows with plastic.

Shopping

Things must be bought at some point, but where, when and how you go about it can make all the difference to your cash flow. Remember, extras, frills, bells and whistles are the little things that really add up.

1. If you have to shop, make sure you patronize places that offer student discounts.

2. Shop for stuff you really need during the tax-free week - available in many regions of the country.

3. Shop early or late for Christmas and the holidays. There is no more stressful time for someone close to broke than the holidays. In fact, some shopping mavens stress that there is no better time to pick up Christmas presents than the day after Christmas! Need a quick Christmas gift for a friend you have yet to see? Buy last minute on clearance sales. Also, buy for next year. Savvy shoppers have no problem making this option one of the most cost efficient shopping days of their year.

4. Create Christmas and holiday gifts with your own two hands. The discount craft stores sell everything you need to make candles, soap, even beaded jewelry. If you can get a couple of crafty friends together you can all very affordably chip in for the materials and learn together.

5. Ask for practical items for Christmas or your birthday. No, it's not much fun, but getting things you need saves you from spending the cash.

6. Get a few friends together to pitch in for the price of an annual membership at a place like Sam's Club or Costco.

7. Buy in bulk. You'll save money per unit for a pack of twelve bars of soap versus singles.

8. Save time and transportation money by shopping online. Make sure you choose an e-tailer with free shipping.

9. Save money in decorating the dorm room by shopping at discount stores and maybe a yard sale or two. The Pottery Barn dorm room may be great, but it's definitely not on the bargain table.

10. Don't shop hungry, and that goes for any kind of shopping. If you're in the grocery store, you'll grab more and spend more; if you're somewhere else you'll probably spend more than you planned getting something to eat. Carry a snack in your purse or backpack.

11. Learn how to shop for clothes at the consignment shop. Today's second-hand is nothing like your mother's thrift store. In fact, these places are regularly trafficked by college students and others for the great finds in name brand, "gently used" clothes and accessories.

12. While we're on the subject of saving on clothes shopping, remember to make sure your fine consignment garments are washable versus "dry clean only."

Transportation

Most of us have come to expect that we simply need to move around. Think foot power and you will already have taken steps to align yourself with a saving frame of mind.

1. Try to get an appartment which is close to campus.

2. Don't take the car to campus. You will spend money on parking and gas, at the very least. Having no car will keep you closer to campus as well.

3. Walk, bike, roller blade, skateboard your way around town.

4. Public transportation is cheap, too.

Travel

At some point it's likely you will have to decide the best and least expensive route from point A to point B. It may be national or international, but you always have a cheaper choice.

1. Save money by doing the least amount of traveling necessary. Road trips are great fun, but you will put out money for gas, accommodations, food, drink andentertainment. When it's all said and done, your long weekend will smack your wallet.

2. Name your own price for a flight or accommodations, if you must travel, by using services such as Priceline. Factors such as current events and gas prices may cause travel prices to fluctuate.

3. Check prices for Amtrak or Greyhound versus air travel. Both companies offer student discounts.

4. A student travel discount card will get you nice discounts on accommodations, food, and transportation if you are traveling nationally or internationally:

5. Carpool home for the holidays. When everyone splits the cost of gas, it's pretty darn cheap.

6. Nearly all money experts say "Skip Spring Break!" Some students even choose to engage in community service during spring break.

The Cost of Keeping in Touch

Communicating with friends and family can run you into steep monthly costs if you are not willing to think outside the box.

1. Join your parents' family cell phone plan. It is usually much cheaper than a standalone account.

2. Refer to cell phone comparison sites that offer side-by-side data of plans from company to company. Save time and save money on your next cell phone plan:

3. Avoid text messaging. You can easily text your way to hundreds of dollars in extra fees. Also, because text messaging is charged both to the sender as well as the receiver, ask your friends to refrain from texting you, too. Make a phone call when you are able (and during your free minutes) or send an email instead. Some cell phone plans come bundled with a maximum number of free text messages. Know how many you can send or receive without being charged extra.

4. Use a pay-as-you-go cell phone plan. This will only work if you use your cell phone on a minimal basis.

5. Communicate via email, instant messangers, create a blog, share photos on Flickr, or invite friends to visit your MySpace site.

6. Use an inexpensive or free internet phone calling service. Once upon a time the sound quality and incidence of dropped digital data packets was high, but VoIP calls have come a long way, baby. Some families, especially those spread far and wide, even international, subscribe to an online conference service. Here everyone in the group may participate in a group meeting, share photos, keep current with goings on, etc.⁷

Skype - eBay's VoIP service. Offers free incoming and outgoing calls in some areas.

Vonage - VoIP service provider

Google Talk - Google's voice enabled instant messaging service which allows you to leave voicemails

Trillian & Gaim - instant messaging services that interface with most major IM services

Facebook - Social networking site, very popular with the college generation

Family and friend conference calls

7. If you are traveling, especially out of the country, catch up with friends and family before you leave, and check into the various international calling cards available.

Personal

We've included toiletries, personal grooming and laundry in this category - the annoying, so-not-fun expenses that are perhaps some of the most spendy.

1. Ladies, how 'bout forego the salon nails for the year. Instead make it a girl's night in and do each other's nails. Same thing for waxes and facials.

2. You don't have to let your hair grow to your knees, but you don't have to choose the toniest "hair design" spot in town either. Shop around for a salon that offers student discounts. Have a cosmetology school nearby? They will charge much less for cuts, highlights and color in exchange for the use of your head. Also, funkier little salon/barbershops offer great services, for a fraction of the cost; you just need to be a bit adventurous.

3. Share the cost for personal toiletries. This works well if you share a room, apartment or suite with others and can agree on products that suit both or all: soap, shampoo, blow dryer, curling iron, hair spray, conditioner, package of razors, shaving cream, lotions, toothpaste, mouth wash, etc. We don't recommend sharing your tooth brush though ;)

4. Whether you share or not, it's always a cost-saver to avoid high-end grooming products. You don't really need the most expensive shampoo or facial scrub to keep yourself looking good. High-end products can run you between $10 and $20 per product. Buy affordable and quality products at much lower prices.

5. Shop for your personal items at a discount retailer. Money strategists suggest buying the "store brand" as a cost-saving alternative, as well.

6. Doing laundry costs money. A machine load of laundry costs at least a $1, and in most places a good bit more than that. Don't drop your laundry at a service, stay and wash it yourself. Spend the time studying or decide to use laundry time to catch up on your favorite magazine or book. Maximize your laundry savings in the following ways:

Bring your own detergent versus buying the single use from the machines.

Buy discounted detergent or on sale only.

Bring your own drink and/or snack versus buying from the vending machine.

Fill the machines to capacity.

7. If you are totally outraged with the cost to wash and dry at the nearest laundry joint or your residence laundry machines, then shop for cheaper at another nearby residential building. Most have laundry rooms. Keep your ear to the ground for the best cost per load deal in the area and only wash when it's necessary.⁸ You can always hand wash a few items to get you through to wash day.

Exercise

If you are already involved with an athletic program, you will have plenty of opportunity to travel off campus and socialize with other students. Meals will typically be covered during team travel, too. If you are on an athletic scholarship you will already have plenty of time scheduled for practice and games or competition to worry about money.

1. Join a club or intramural sport. It will gain you instant friends and offer no-cost exercise and socialization.

2. Buy an exercise video game. A console and exercise game together cost under $200 and offer weeks or months of fun. Who knew you could lose weight playing video games? Playstation 2 offers a video game called Kinetic - The Personal Fitness Trainer. And as if that wasn't good enough, why not give Dance Dance Revolution Mario Mix a try!

3. If you need music to help you have the motivation to exercise, iPods and similar devices can be bought for around $100. Many music fans also take advantage of low download costs or free downloadable music offers.

4. Ask someone to sponsor you for a marathon or other run. People do it all the time for charities. Turn paying for your education into a noble cause.

5. Enroll in an on-campus exercise class such as yoga, tai chi, kick-boxing or spinning. Exercise will keep you healthier and happier and will fill up time you might otherwise have spent spending money.

6. Feeling down and getting the urge to splurge? Instead go for a run, a bike ride, or a brisk walk. You'll get some exercise-induced serotonin coursing through your brain and the feeling will cost you nothing.

7. Get a dog. While feeding them may seem expensive, they offer low cost company ready for a walk if you get lonely or might not exercise as much as you should. Dogs love exercise.

Make a Few Bucks

No one says you have to hold down a traditional part-time job, but there are tons of ways to make an extra buck or two while you're in college.

1. We're not endorsing prostitution, but if you can give some of yourself by donating blood plasma, you can net an extra couple hundred dollars a month. But, be careful if you try combining this with alchohol. ;)

2. Volunteer for a medical study. Most do not require much time and you get paid!

3. Sell your expertise in a subject as a tutor, computer skills, music lessons.

4. Get a job in the food service industry. Chances are high that you can eat for free!

5. If you are a true subject matter expert why not create a website about your favorite topics? Many people make a few hundred to few thousand dollars a month from Google AdSense, by publishing relevant contextual ads on their websites.

6. Be your campus computer tech. Troubleshoot computer issues in exchange for a few bucks or a beer. Make yourself available in a pinch.

7. Solicit grad students for help with their dissertation research, proofreading, editing or document typing and formatting.

8. Don't forget to work extra and save up during the summer to make the school year more comfortable.

9. Offer a resume writing service. This can make you quite a bit of extra pocket money. But put it in savings.

Good luck! If you think "thrifty" we think you could possibly leave college with a little in your savings account to show for your hard work and efforts.

Footnotes

1. "Counting Coin Machine Accuracy," WKRC 12 Cincinnati.

2. "Frequently Asked Questions About College Binge Drinking," AlchoholPolicyMD.com.

3. "When Not to Tip," Pizza Driver Homepage.

4. "HP Plans Discounts for Student PCs," Tom Krazit.

5. "Should You Insure College-Bound Computers?" Robin Raskin

6. "Computer and Printer Prices Go Down," Clark Howard.com

7. "New Phoning Options Can Save Money on Calls" Ohio.com

8. "Clean Clothes More Costly on Campus," Angela Kuharski

Works Cited

Akron Beacon Journal: Ohio.com. New Phoning Options Can Save Money On Calls. [updated 8 September 2006; cited 20 September 2006]. Available from http://www.ohio.com/mld/ohio/business/15468451.htm.

AlchoholPolicyMD.com. Frequently Asked Questions About College Binge Drinking. [updated Sun, 11 Jun 2006; cited 20 September 2006]. Available from
http://www.alcoholpolicymd.com/alcohol_and_health/faqs.htm

Clark Howard. Protecting Your Computer. [updated 2006; cited 20 September 2006]. Available from http://clarkhoward.com/shownotes/category/8/37/.

Krazit, Tom. "HP Plans Discounts for Student PCs." CNET News. [updated 12 July 2006; cited 20 September 2006]. Available from http://news.com.com/HP+plans+discounts+for+student+PCs/2100-1044_3-6093354.html.

Kuharski, Angela. "Clean Clothes More Costly on Campus." The Aquin. [updated 12 October 2001; cited 20 September 2006]. Available from http://www.stthomas.edu/aquin/archive/101201/laundry.html.

Pizza Driver Homepage. When Not to Tip. [updated 13 January 2006; cited 20 September 2006]. Available from http://tipthepizzaguy.com/nottotip/.

Raskin, Robin. "Should You Insure College-Bound Computers?" Yahoo! Tech. [updated 9 August 2006; cited 20 September 2006]. Available from http://tech.yahoo.com/blogs/raskin/935;_ylt=Ap6qSN0mdkfib.Qz59kFakghLpA5.

WKRC 12 Cincinnati: Trouble Shooter. Counting Coin Machine Accuracy. [updated 2 December 2004; cited 20 September 2006]. Available from http://www.wkrc.com/heyhoward/story.aspx?content_id=75FE4E41-EFCE-408D-A6A7-F51D167F93E1.

Further Reading
MacRumors: Apple Education Store The Dollar Stretcher: Living Better for Less
The Clark Howard Show

ThriftyFun.com, Save money doing just about everything.

How To Get Free Food in College, Ron Ben-Meir, CCC Publishing, February 2001.

Broke! A College Student's Guide to Getting By on Less, Kaplan, December 1,2003.

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So you have already looked for scholarships, grants, and loans and are still finding it hard to pay your way through college? It goes without saying that the typical college student is either broke or financially hanging in the balance most of the time.

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and stick to it

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I've been getting emails requesting for me to write a post about how to organize, set, and stick to a budget. Two problems with this. The first is that I don't feel comfortable sharing my personal finances on here... and the second is that budgeting significantly differs for everyone. I've seen "downloadable" budgets, but... it's really challenging to personalize. And when it comes to budgeting, personalization is KEY.

ONE | Determine priorities

As with, well, just about everything in life, it's all about priorities. Some people are would rather live in a smaller apartment and have more money for "going out" on the weekends. Maybe you'd be willing to go out to restaurants fewer times a week so that you have more money for cab rides. It's completely up to you. Whatever your priorities are, however, make sure you value what the consequences might be. Unless you have a completely unlimited income (in which case, I'm jealous), having more of one thing will mean having less of another. Note: It's totally okay for you to prioritize going shopping over paying back student loans... just realize that this means having the loans accumulating even more over the years.

To give you an idea of my priorities: I wanted a one bedroom vs. a studio, so I have less extraneous spending money. I have a monthly "saving" goal, which means I can't eat out for dinner as often as I would like to. I want to be able to buy clothes as needed (or sometimes even wanted), so I take the subway whenever possible to avoid cab fares!

TWO | Document all income and expenses

This is really one of the most difficult parts. If you're moving or switching jobs or have never gone through this exercise before, you should be prepared to take a couple of months to really get down to a little margin of error. When I first moved, I had to create a lot of placeholders based on educated guesstimates. (I wasn't sure how much I would quite need for groceries. I didn't know how often I would be "going out" on the weekends, or eating out, or taking cabs. I wasn't sure how much my utilities would specifically be, etc.) After a month or so I had a good idea of what exactly I would be spending.

Make a giant list of all of your expenses. Rent, transportation, insurance, utilities, groceries, restaurants, coffee shops, alcohol, clothing, student loans, etc. I found that keeping a running tab on a legal pad was the easiest. Then I'd go through and plug the expenses into an Excel document and "categorize" them. I have lots of Excel experience so my document was pretty intense, but it really can be as simple as a keeping track with paper and a calculator! To make things easier for step three, I also gave each itemized expense an additional tag of "avoidable" and "unavoidable." Obviously (and unfortunately haha) rent is unavoidable. But some of my dinners out were unavoidable (with friends) and some were avoidable (laziness about cooking).

Don't forget about your income!!! I have two sources of income... my company and my job. My job is a salary so I know exactly how much I get every month. However, with my company it fluctuates. I do have a pretty good idea of what the minimum amount I get a month. I stick with that number and assume that everything above that is a bonus and goes directly into savings. This, again, is totally going to be quite different for every individual person.

Once you know what your income and expenses are, you can move on.

THREE | Set Goals & Limits

Start with your income. If it's a fixed income, you're pretty much set. If it's not a fixed income, make a good guess. (When in doubt, assume that you'll make the smallest amount. Better to end up with extra than to come up short at the end of the month!)

Immediately subtract all of your big expenses. For this you can choose to include or to not include all of your unavoidable expenses (like dinners with friends, etc.). I tend to wait and include those types of unavoidables within each category.

Somewhere within this step, you should set your goal of savings. For all intents and purposes, I pretend that any money I want to save simply does not exist. I can't think about the money, because buying those ballet flats or going out to dinner every night is way too tempting otherwise! If it "doesn't exist" there's nothing to spend. Along the same lines as savings (but not as longterm), it's a good idea to also have an "unexpected expense" category for money you can dip into should you need to purchase plane tickets or cover the expense of a flat tire, etc.

This gives you a number that you can work with, experiment with, and ultimately manipulate when setting your budget. Since you took a month or so to document your expenses, you should have a good idea of what your big categories are. Use your best judgement to set limits on each category. Here's a hint: refer back to your priorities!!! If your priority is money for bars and cabs on the weekends, make sure you've given yourself the leeway to do so! If your priority is shopping, make sure you give the proper allowance for that.

As long as your budgeting for your priorities, you will set yourself up for success. Money is often a source of stress for people, but if you listen to your heart (and have self control when necessary, see #4) you will be set up for success. Don't set yourself up for failure by setting budgets that are unreasonable or simply not you! I think budgeting is a lot like dieting. If you restrict yourself of all the things you love, you'll either be super depressed all the time or upset with yourself if you break it. It's all about moderation and working with a program that works for YOU and with YOUR lifestyle.

FOUR | Come up with a system

You should have a system to track your spending and income. It can be anything, it's totally up to you. Examples:

- Going to the bank and taking out all the cash you have allowed yourself to spend for the month. Divide the cash up into envelopes depending on the category: coffee, gas/cab money, clothing, etc. (Note: please be careful with this. Carrying huge sums of money on your person is just not the safest.) If you have cash left over in any envelop, you can: add all the sums into a general "rainy day" or "vacation" savings account, carry the money over into next month, save half and carry over half, etc. It's all about what you want.

- Using an online service (like Mint.com) to track your spending.

- Saving receipts and recording your daily spending into an Excel spreadsheet. If you're using Excel, make sure you set your cells' formulas to deduct from your goal/limit so you know how much you have remaining for the month.

- Set "daily" limits. Easiest to keep track of on a day to day basis (e.g. I spent $45 of my allotted $60), but quite complicated when it comes down to knowing what you spent on what. This is also not ideal for bigger purchases, like furniture, major grocery shopping trips, and clothing buys.

Those are just some examples to give you an idea of what you can do for a system.

Here's what I do: I only use a credit card (some people spend more with cards, but cash is feels way too liquid for me) for purchasing nearly everything. That way, I can link my accounts to Mint.com and keep track of my spending online. Mint.com lets you set your budgets and categories and gives you updates (alerts even on the iPhone app) when you're close to the limit! And, because I'd be too paranoid without, I do carry a certain amount of cash with me, but it's pretty much only for emergencies (read: credit card minimums and cabs that don't take credit cards). I also pay off my credit card balance in full every month so it's not like I'm buying things "on credit."

FIVE | Stick to it!

If you budgeted to fit your needs and wants (remember those priorities!), you should be all set. But, I know all too well that life can be oh so tempting. You really should trust your system and trust yourself to stay within your budget. It's a budget for a reason and sacrifices are quite likely. One of the hardest things is when your friends want to go to an expensive restaurant or something like that. Don't feel guilty suggesting another, more reasonable choice. (I'm going to guess that someone else in the group was probably stressing about how they wouldn't be able to afford groceries that week!)

Remember that you can seriously make it work. You really can! You may not be able to spend six dollars on your way to work every morning for a grande peppermint mocha and a scone (that's $120/month!)... but once a week on Friday mornings might totally work for you!

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How to Set a Budget - The College Prepster

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I've been getting emails requesting for me to write a post about how to organize, set, and stick to a budget. Two problems with this. The first is that I don't feel comfortable sharing my personal finances on here... and the second is that budgeting significantly differs for everyone.

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life hacks

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By Kim Anderson

This post may contain affiliate links. If you click & make a purchase, I receive a small commission that I use to provide for my 3 kids! Thanks! Read my full disclosure policy.

The truth is, I haven't been in college since 2005 (Go 49ers). That means some stuff is the same but a lot has probably changed. I really wanted to write a post on tips for saving money on college but felt a little out of touch. Luckily while over at my good friend Rhonda's house, her daughter was home from UGA. When I brought up the fact that I was looking for some tips and she started pouring out ideas. So much so that I asked if she wouldn't mind just writing the post for me. Thankfully she enthusiastically agreed. Now you can benefit from some "current" wisdom.

Guest Post By: Gabrielle Roth

I had heard several times in my life the phrase "broke as a college student" but never really understood the reality of it until this year. As a freshman at the University of Georgia I had to learn the ropes of school and living on my own, but also how to pinch a penny and make my dollar go farther than I could imagine.

Here are the top 5 ways I saved money this year!!

These are a necessity since the entire reason you are in college is to get a degree and you simply cannot do that without passing classes.

Is it Necessary? First thing, ask your professor which of the books on the syllabus will you actually be using; just because it is on the syllabus doesn't necessarily mean you will use it or at least enough to actually purchase it.

Online Shopping- With the books I did need to buy, I learned fairly quickly that the books in the University bookshop and even some off campus bookstores were outrageously priced. I consider myself a pro at online shopping so I figured why not start there?

Online Rentals! I found out that Amazon rents out textbooks to students at extremely reasonable prices and if you sign up with your college or university email you get 6 months of free amazon prime.

The kindle store on amazon offers affordable versions of e-books or if you prefer paper I bought several of my books used on amazon.

I would suggest finding a friend (or making one since you are in college to meet new people) who will split the cost of text books with you and share it for the semester.

FACEBOOK Classifieds- My last advice for saving money on books would be to see if your college or more specifically graduating class has a facebook page where books are bought and sold. Fellow students feel your pain and are usually very willing to bargain on books.

Many colleges require freshman to be on meal plan their first year at school, which makes sense because these dining halls seem to be a vacuum for money.

The meal plan at UGA was roughly $2000 per semester for 7 days a week unlimited food.

Worth It? For guys that may be worth it, but I am a girl and I do not eat enough food to make it worth what my parents were paying so second semester I took my meals into my own hands. I allowed myself $200 a month for eating (groceries and eating out).

Compare- My first suggestion would be to compare your local grocery stores and supermarkets and see who has the best bang for your buck.

Save on Groceries & Gas- I used Kroger because I could use a Kroger card which saved me money on groceries as well as gas.

Use Coupons- Also I did not go anywhere without a coupon. Grocery stores will typically accept store and product coupons so doubling up helped.

Restaurants- As far as restaurants go my college hands out coupon books to its students with all local restaurant deals so I never paid full price for a meal eating out either.

Be a FREE-gan- And if healthy options aren't really a concern for you then there are plenty of events on campus that offer free food for attending.

Many people may find this surprising but University housing these days is actually more expensive than living in an apartment.

Dorms- My freshman dorm, all 8 by 14 feet of it complete with community bathrooms, cost $6,000 for two semesters (9 months).

Apartments- The apartment I will reside in this year is three bedroom, three bath and will cost $5,100 for 12 months including utilities. My roommates and I toured practically every apartment complex in Athens and crunched numbers for each one and almost every single one ended up saving us at least $300 a year.

All-Inclusive- There are so many options when choosing an apartment, so many we found included furniture and even transportation to campus!

More Control Over Expenses- The other great thing about an apartment is you can control the utilities. How much water you use, remembering to unplug unused appliances and chargers, and other things all of which will save you money.

UGA charges a ridiculous amount to take a piece of asphalt for a few hours a day, many passes costing $300-400 for two semesters. The parking spots on the less populated and congested parts of campus are usually cheaper so parking there and then taking the bus or walking will save some money.

In college you will be invited to lots of themed parties, events, etc (especially is you go greek) and not everyone has an arsenal of costumes on hand.

Costumes- To save money on anything from clothes to costumes I highly encourage thrifting.

Thrift Stores- The thrift stores around colleges are a gold mine for accessories as well as name brand clothes and furniture. College students move all the time and when they do thrift shops all around are accepting of old furnishings and clothes.

Name Brand- Also many stores carry big name brands such as southern tide, vineyard vines, lilly pulitzer, ralph lauren, southern proper; that are mainly popular in SEC schools.

College Apparel- Also do not go crazy and buy tons of your school paraphernalia because most colleges give out free t shirts all the time so it's easy to stock up on spirit gear without it costing you a dime.

I'm so thankful for Gabrielle sharing her current college wisdom. I hope her 5 tips for saving money on college helps you find some ways to keep a little more money in your pocket this school year.

Filed Under: Tagged With: Saving Money how to save money on clothes in college, how to save money on college eating plans, how to save money on textbooks, lowering college expenses, saving money while in college

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5 Tips For Saving Money On College " Thrifty Little Mom

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By Kim Anderson This post may contain affiliate links. If you click & make a purchase, I receive a small commission that I use to provide for my 3 kids! Thanks! Read my full disclosure policy. The truth is, I haven't been in college since 2005 (Go 49ers).

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for students

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Personal Finance To-Do List

1. Create a budget

2. Invest in retirement

3. Get property and life insurance

4. Create an emergency fund

5. Open a credit card account

Create a Budget

Left unchecked, college students can find themselves without enough money to function. The primary purpose for this phenomenon is that these students do not properly manage how they spend their money. It may seem simple enough, but many college students do not take the time to sit down and create a budget, which is too easy to do in excel. For college students, creating a budget will allow them to see exactly how much money they can afford to spend each week on "fun stuff." By having this finite number, students can plan how they will best enjoy their money week to week, while still having enough money for the basics. Take a look at the sample budget bellow, and follow these simple steps to create your own (Remember, the sample budget is designed for a college student):

1. Look up your tax rate from the IRS website. (Don't worry, most college students don't end up paying any federal taxes.)

2. Enter your gross monthly income. (from your part-time job or allowance from mom)

3. Calculate your taxes by multiplying your gross income by your tax rate.

4. Calculate your net monthly income by subtracting taxes from gross income.

5. List all your monthly savings (retirement saving, emergency fund savings, savings for a trip to Las Vegas, etc.)

6. Sum your total monthly savings.

7. List all your monthly expenses for which you are responsible. (car insurance, cell phone bills, rent, etc.)

8. Sum your total monthly expenses.

9. Subtract your total monthly savings and your total monthly expenses from your net monthly income.

10. Divide your monthly spending money by 4 to get your weekly allowance.

11. Make a weekly spending plan

12. STICK TO YOUR SPENDING PLAN!!!

With your budget, you can create your weekly spending plan. For example, if your weekly budget is $96.75, you can make the following plan:

By creating a monthly budget and sticking to a weekly spending plan, college students can make sure to fulfill all of their financial obligations and still have fun each week.

Invest for Retirement

The sooner you start investing for retirement, the better! Notice I say INVEST for retirement, not save. Even with the current shape of the economy, don't be afraid to invest in the stock market. The stock market will rebound, and as a young college student, you have plenty of time to wait for this to happen. There are many different ways to invest for retirement. For college students, I suggest a simple and very effective way. Just follow these steps:
1. Open a Roth IRA account.
A Roth IRA is a retirement account that comes with great tax benefits. Although contributions are not tax deductible, all the money earned in the account is tax free. This benefit is great if you plan on making more money later in life than you do now (hopefully you all plan on this). The catch is that you can't withdraw any money you make until you are 59.5 years old; however, you can withdraw any money you contributed to the account at any time. Also, there is a limit of $5,000 per year you can contribute to the account. You can open up a Roth IRA with many different institutions such as Bank of America, USAA, Scottrade, etc.
2. Select a Target Date Mutual Fund 3. Set up an automatic investment plan
Target Date Mutual Funds are great because they automatically lower your risk as you get older and closer to retirement. If you plan on retiring in 2050, then select a 2050 Target Date Mutual Fund. When choosing a fund, search for funds with "no load," "no transaction fees," and "a low expense ratio." There is no proof that actively managed funds outperform passively managed funds, so why pay extra for them? A financial advisor at the institution you open your Roth IRA with can help you choose the perfect fund that meets my search criteria.
4. Sit back and relax
After you open a ROTH IRA and select a Target Date Mutual Fund, make sure to contribute to your account every month. If you want to max out your contributions, then the magic number is $416.66 per month. If this amount is too much for you at the time, pick an affordable amount, even if it is only $100 per month. As you get older and earn more income, this number can easily reach $416.66. Once again, a financial advisor at your institution can help you set up this plan.

Don't stress over the everyday fluctuations of your account value. Over time, the average return will smooth out, and by the time you retire, you will have a good amount of cash for retirement to use in combination with a 401(k) plan, pension plan, social security, etc. Here's some quick math: Assuming a conservative average annual return of 8%, if you invest $5,000 per year, starting when you are 22 years old, you will have $1,148,734 when you are 60. You will have only contributed $190,000, and you will have earned $958,734 TAX FREE!

Get Property and Life Insurance

Insuring yourself is extremely important, and it is key to being financially secure. As a college student, you probably rent, and your personal property is not covered in the case of theft, loss, fire, or other natural disasters. Getting up to $10,000 worth of coverage can cost only a few bucks every month and can be bundled with your auto insurance plan. It would be a financial disaster for a college student to have to replace a cell phone, laptop, jewelry, and clothes all at the same time. Check around with different insurance companies for the best price.

When it comes to life insurance, you may be wondering, "Why does a young and healthy college student need life insurance?" By locking yourself into a life insurance plan now, you will guarantee that you will have life insurance when you get older and have a family. By being young and healthy, your premium will be very cheap and affordable. If you don't lock into a life insurance plan now, you may become uninsurable if something bad happens to you or is discovered about your health. When you grow up and have a family, if you cannot get life insurance, you will be putting your family into great financial insecurity. Bottom line, get insurance now while you are young and healthy.

Create an Emergency Fund

Even though you are now properly insured, it is still very helpful to have an emergency fund to help pay for unexpected expenses. For example, let's say you hit a curb and blow out your tire, which costs $300 to repair. This unexpected expense will throw off your budget if you do not have an emergency fund. In the sample budget at the top of the page, this little accident would take away 3 weeks' worth of spending money for "fun stuff." To create an emergency fund, simply budget a small amount of money each week to add to a savings account that you use ONLY for EMERGENCIES.

Open a Credit Card Account

When I was in college, I was very shocked to see how many students did not understand exactly how credit cards work. Therefore, many students were afraid to get a credit card. When used correctly, a credit card is a great financial tool. Before I go any further, make sure to follow these simple rules:

Get a credit card with no annual fee

Don't spend money you don't have

Pay off your entire monthly balance, every month, on time

If you follow these simple rules, you will receive the following benefits:

You can use your bank's money for FREE for about 2 months at a time

You earn rewards such as cash back, airline miles, and hotel points

You build up your credit score, which will allow you to get cheaper loans in the future such as mortgages and auto loans

Bottom line, get a credit card and use it responsibly.

Summary

This is basic advice for college students to set them up for financial success in the future. If you need more information about any parts of the Personal Finance To-Do List, I encourage you to do more research or email me your questions. Finally, all of the tips I came up with, I follow myself, and so far, I am off to a great financial start.

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Personal Finance Advice for College Students

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Create a budget Invest in retirement Get property and life insurance Create an emergency fund Open a credit card account Left unchecked, college students can find themselves without enough money to function. The primary purpose for this phenomenon is that these students do not properly manage how they spend their money.

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while in college

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Do you spend more than a thousand bucks just getting to class every year? Have you spent $765 over the last year eating off campus?

You may be surprised how quickly it adds up, but the infographic below can help put things in perspective.

The extensive infographic is based on a national survey performed by 21st Century Insurance, and focuses on both how students spend money and how they save as well.
Does it match your own spending habits? Weigh in with your opinion in the comments section below!

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How College Students Save & Spend Money (INFOGRAPHIC)

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Do you spend more than a thousand bucks just getting to class every year? Have you spent $765 over the last year eating off campus? You may be surprised how quickly it adds up, but the infographic below can help put things in perspective.

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and tips to avoid making it worse (you may need to download pic in order to zoom)

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Here is the problem...