Suddenly, every dime you have is being spent on overpriced textbooks, lab fees, and monthly rent. Creating a budget will help you decide just how much you can spend on the extras in college. It will also give you a sense of security in knowing that you ll have enough money to cover your monthly expenses. Simply put, in your budget you ll calculate all of your projected expenses and deduct them from your estimated income. This process will help you decide if you can continue to order pizza at midnight twice a week, if you can afford to buy concert tickets, or if you need to start looking for a part-time job just to cover your monthly bills.
Banks often offer low monthly fees and free debit cards to students.
Sometimes, they even offer free banking services when you re home for summer break. Make sure you re covered under your parent s health insurance policy while enrolled in college. If you are not covered, check out the student health insurance offered through your school. It s better to spend a little each month on insurance than to get stuck with high medical bills. Before you start making collect calls home to your parents every weekend, check out the various long distance programs that are available to students.