Tips for College Students – Budgeting

For students, establishing and managing a budget is always a good idea.  A great way to start is to arrive at campus knowing all of your sources of income and the totals:  money from a summer job, savings, financial aid, scholarship money, private loans, a campus job and, of course, parental funds.  Then track and record all of your spending very closely over the course of a month.  Project outward to the end of the semester and see how expenses compare to your available funds. 

After reviewing your expenses, chances are you will be surprised that the little things add up to so much.  Think twice about stopping a t the coffee shop or ordering that late night pizza when you can eat on your meal plan instead. If you are careful, there may be more money left over for important things like books.  Don’t forget to budget carefully and realistically for entertainment.  You may learn that not ordering a Netflix DVD, music or video on iTunes, or going on an expensive weekend trip will help you make it through the semester.

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The Massachusetts Bankers Association represents approximately 190 commercial,
savings and co-operative banks and savings and loan institutions located in Massachusetts and
elsewhere in New England.

Massachusetts Bankers Association, Inc.
One Washington Mall, 8th Floor
Boston, MA  02108
Tel: 617-523-7595 / Fax: 617-523-6373

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