Budgeting Tips for College Students

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Budgeting Tips for College Students
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• It may be tempting to wing it and manage your
  finances as you go along, but this is never a
  good idea. Surviving as a student is expensive.
  If you fail to keep to a budget, you may run out
  of money at the worst possible time. Theres no
  need for creating a budget to be complicated. In
  fact, if you do it right, it should simplify your
  life.

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1. Include Everything in Your Budget

• Make sure that you account for all the
  essentials (housing food, costs related to
  studies), but also allocate a decent amount for
  having fun. Plan how much you think youll need.
  Then, note down everything you spend and adjust
  your budget accordingly.

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2. Find Ways to Cut Back

• Try cutting certain things out of your life and
  see if you actually need them. In addition, look
  for ways to reduce how much you spend, such as by
  switching to a cheaper cellphone plan, walking
  short distances, and eating out less (or at least
  picking less expensive meals).

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3. Spend in Cash

• Theres always the risk youll spend money you
  dont have if you use a credit card. If youre
  unable to pay your cards off in full each month,
  youll start accruing interest, which means that
  you ultimately pay more. Whenever possible, make
  purchases with cash.

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4. Avoid Long-Term Contracts

• Opportunities you never expected can arise when
  youre a student. If youre locked into a
  contract, you may need to pay for something that
  youre no longer even using. Whereas long-term
  contracts for housing may be unavoidable, you can
  avoid contracts for things like gym memberships.

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5. Choose Friends Who Are Good Influences

• Youll meet all types of people at college.
  Choose to spend time with those who are
  responsible about studying and unlikely to
  encourage you to blow your entire budget for the
  month in a single weekend.

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6. Seek Advice from the Financial Aid Department

• If youre struggling to stay within your budget,
  pay a visit to the financial aid department at
  your school. The counselors will be able to
  provide you with unique advice for your situation.

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• One way to take the strain off your finances is
  to find more affordable Fleming College student
  housing. Living on campus usually comes at a
  higher cost, just for the convenience.

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• You can save a significant amount by looking for
  apartments for rent in Peterborough where
  students can receive all the benefits of
  on-campus housing without the high cost by moving
  to Severn Court, right across the street from
  Fleming College.