One of the key things to master when learning how to budget as a student is understanding exactly where your money goes. The majority of a student’s monthly budget typically gets eaten up by school expenses, but it extends beyond this. When you combine the cost of a meal plan or groceries with the money you spend on entertainment and clothing, it’s easy to quickly exceed your monthly budget.
Spending within your budget can be even more challenging as a student than for full-time working professionals, as there’s often very little time in your schedule to dedicate to earning an income.
Because of this, money is almost always tight. And when you’re just learning how to budget, all while adapting to your newfound independence, it can be a lot to handle. Fortunately, there are lots of resources out there for those navigating the student lifestyle.
In this budgeting for students guide, we share some helpful tips and resources to help you plan your student budget for this school year.