Include predictable but oft-forgotten expenses that can zap a budget. You'll need to buy gifts. You'll need to maintain monthly payments. Even if you're short of cash, do not take out a loan or a credit card cash advance, warns Howard S. Dvorkin, president of Consolidated Credit Counseling Services in Ft. And that kicks in 30 days after you get the dough.
Few people can take on that kind of debt without being swamped.
Instead, start cutting your costs now and build savings. Apply for a grant, scholarship or fellowship.