Before you know it, you find yourself unable to pay your credit card bills, or you have no money left to buy books for your classes. Learning the Hard Way Students figure they can spend now and make up for it later when they have a good job. According to an advisor at a major university, more students drop out of college due to credit card debt than to academic failure. The best way to prevent this is to adopt a spending plan early in your first semester, and stick to it. Like anybody else, college students are usually surprised at how much the little expenses add up to.
Smoking is one of the most costly habits.
It doesn't take much to reach thousands of dollars a semester on incidentals. Students who get a handle on their spending and their available funds early can avoid the stress of being unable to pay off their bills and having to work more and more hours during college in order to juggle their finances. Then list your expenses, such as tuition, books, groceries, gas, entertainment, etc., in as much detail as possible. If your expenses are less than your income, you're in good shape as long as you stick to your spending plan. If your expenses are MORE than your income, you need to find ways to cut spending or increase your income.