Budgeting Student Spending with Financial Planning

As a college student, money is always tight. Many students must pay for college out of their own pocket (or with financial aid) and are not able to work very much while in school. The key to responsible spending is based around budgeting.

I know it does not always sound like fun, to make a list of your income and expenses, but it is crucial to know where you are at. Many students go through college (or life) without knowing where they stand - simply happy that they are not 'in trouble' financially.

So start right now, make a list of:

1. All your income (monthly)


2. All your expenses (monthly)


3. All your assets / money saved total


4. All your liabilities / debt you have accumulated (including credit cards)

This is a good starting point for understanding where you stand. It is the building block for doing more advanced analysis.