College Budgeting 101
Start writing a post

College Budgeting 101

Check out these tips on how to manage your expenses and responsibilities so you can spend more time focusing on school and less time worrying about finances.

8
College Budgeting
bigstock-education-healthcare-and-pand-367118983

College is an amazing learning experience, what you learn through your teachers and textbooks are only just the beginning. College is a place where many learn the roles of independence and adulthood. When people think about responsibility and independence money is usually the first thing that comes to mind. How to properly manage money is a lesson that even grown-ups are continually learning.

Check out these tips on how to manage your expenses and responsibilities so you can spend more time focusing on school and less time worrying about finances.

Costs of college

College tuition varies depending on the level of the university, some Ivy league schools can cost upwards of 40,00 a semester and others can range from 5,000.00-7,000.00 per semester. Some other common college expenses include parking permits, textbooks, computer, items specific to your major such as musical equipment if you are a music major, art supplies for the art major, high end calculator for the math major etc. and of course notebooks, pens and other items that will help you be successful.

You will also need to factor all of the expenses outside of the college walls; rent, utilities, food, insurance, car payments, and entertainment to name a few. Learning to budget and manage money is one of the most important lessons you will learn in college and in life.

Budgeting your Money while in College

As a student, there are different ways to budget your money in college:

Make Most of the Discounts

There will be discounts available to you as a college student. Carry your student ID with you always. Usually, a student discount is offered where a military discount is offered. With your student ID, you will hardly pay the full price of anything you are buying.

Discounts are offered in restaurants, clothing stores, electronic stores, music concerts and public transportation. Look around and take advantage of the businesses offering student discounts.

Cut back on major expenses.

Use public transportation or a bicycle as your primary source of transportation. You will save money on gas, insurance and repairs in addition to a car note. Find ways to reduce your electric bill. Utilities can be a significant expense. On days with pleasant weather you can open your window and turn off the air conditioning or use natural light which can help you save on your CT energy bill.

Cook your way to financial freedom

Food is an area where you can spend a substantial amount of money, or save a lot of money. You might be surprised how much money you can save by cooking a few meals at home. Not only will you be learning a crucial life skill but cooking is beneficial for your physical health and your bank account. When you go to the grocery store ensure to follow certain tips to be a better shopper so you do not overspend. When you need a break from the kitchen look for places that offer deals or student discounts.

Paying for College

There are many ways that people pay for college from financial aid, scholarships, loans and grants. It is important to get a head start on the financial planning when it comes to college because the scholarships and grants are limited. The most common way that people pay for college is through loans and federal Pell grants. Before accepting loans it is important to do your research to learn about the different types of loans; for instance what is the difference between subsidized and unsubsidized loans.

While the budgeting tips can help you get through college it is a gift that keeps on giving because those lessons of learning to better manage your money can help you once you graduate and the repayment begins.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.

If there's one thing everyone's talking about right now, it's voting — in real life, on social media, and yes, even on dating apps.

And rightfully so! Because is there really anything sexier than someone who cares about using their voice to be the change they want to see? In my opinion, no... not much, honestly.

Keep Reading... Show less
Tai Adaya

Any medium- to dark-skinned woman knows how difficult it can be to find the right SPF. Most mass-market SPF products are catered to lighter skin tones, and the potent UV-blocking titanium dioxide and zinc oxide have a way of leaving an unflattering white or grey cast on the skin.

Keep Reading... Show less
Politics and Activism

Florida Residents, Here Is Your Step-By-Step Guide For Registering To Vote

Every state is different, so get familiar with your county's regulations early!

301

The 2020 presidential election is coming up fast and it's important now more than ever to know the resources available to voters. With COVID-19, this election looks a bit different this year — mail will be slower, and polls will have longer lines and more health and safety regulations. Because of this, knowing where to register if you haven't already, checking your registration status, and requesting a vote-by-mail ballot is crucial information to be aware of.

Each state has different links and different websites, so this information primarily pertains to Florida residents.

Keep Reading... Show less

We finally got a more in-depth look into the upcoming Disney+ Marvel series 'WandaVision' during the 2020 Emmy Awards. Elizabeth Olsen and Paul Bettany revive their roles as Wanda Maximoff and Vision from the Marvel Cinematic Universe in this brand new trailer.

Keep Reading... Show less
Health and Wellness

I Talked To Nikki Pebbles About PCOS-Friendly Workouts, And Low-Impact Is The Key

Hormone health impacts everything, including the workouts that are best for you.

5881

Women with polycystic ovarian syndrome (PCOS) deal with a lot of uncertainty in their life. Between hormonal ups and downs, unpredictable weight gain, painful cyst ruptures, and infertility worries, their bodies are often under a lot of stress! A common symptom of PCOS is having a hard time losing weight — many women find themselves frustrated (or in pain) from traditional workout plans.

I sat down with Nikki Pebbles, a certified personal trainer and group fitness coach, to talk about the kind of workouts that are best for women who are dealing with PCOS.

Keep Reading... Show less
Lifestyle

Jason Wu's Recent Runway Show's Models All Wore Maybelline — Get The Look On A SERIOUS Budget

Created solely with the Maybelline New York line, you'll get a glimpse of makeup done the Empire State way.

3395
Maybelline

As a makeup artist who is always looking for bargain, good quality makeup, I can confidently say that Maybelline's New York line exceeds any high expectations I set. With only five steps and seven products, you can achieve the makeup looks rocked by models for one of the biggest fashions shows in the industry.

The direct makeup artist, Erin Parsons, also shared her statement about the makeup saying, "When you're on vacation, you don't really wear much makeup. We applied Maybelline New York Super Stay Matte Ink Coffee Edition in Espresso Enthusiast and Chai Genius sinve the models had to wear masks following application, and we knew that the makeup would not move."

Keep Reading... Show less
Entertainment

Chase Stokes And Madelyn Cline Are 'Hot Stuff' In Kygo's New Music Video

While we patiently await OBX season two on Netflix, we can just jam to and watch "Hot Stuff" in the meantime.

1841

As if Chase Stokes, 28, and Madelyn Cline, 22, aren't cute enough in real life, we also get to swoon over them as John B and Sarah Cameron in "Outer Banks" AND now in Kygo's new music video, "Hot Stuff." Feel free to gush over them in the video below.

Keep Reading... Show less

I began suffering the symptoms of PCOS — acne, fatigue, weight gain, and an irregular cycle — when I was about 16, but I wasn't diagnosed until about nine years later.

The symptoms were, of course, frustrating, but I am now thankful for all of the time I spent trying to manage them naturally with my diet, herbs, and vitamins. Now that I am diagnosed, I do take a small dose of prescribed spironolactone which has helped immensely, mostly with my skin.

Keep Reading... Show less
Entertainment

My Favorite Moment In Each Song Of 'Hamilton', Act I

I can confidently say that the "Hamilton" soundtrack is the most played album on my phone.

239

I'll admit, I never really got into "Hamilton" before it came out on Disney+. I knew of it and generally what it was about, but it never really interested me.

However, this quickly changed when I saw it on July 3. I can confidently say that the "Hamilton" soundtrack is the most played album on my phone. I can never seem to escape Lin Manuel Miranda's genius, as his songs are literally stuck in my head at all hours of the day. Below are my favorite moments of each song in Act I.

Keep Reading... Show less
Lifestyle

10 Fall Shoe Trends To Put Your BEST Foot Forward This Season — Yes, Even From Home

Step into the new season with your best foot forward.

3251

Fall is (almost) here, and we could not be more excited. As the weather slowly but surely changes, so will your wardrobe. From booties to oxfords, this fall's shoe trends have something for everyone.

Sure, you might be comfy at home in your slippers, but with shoes this cute, you'll be sporting them when you're out and about or just hanging out in your living room.

Keep Reading... Show less
Facebook Comments