Yes, you can make a budget work
When making your budget, you might think that the numbers you’re coming up with are too small (e.g., $1000/month income, only means $250 for rent or $350 for rent/utilities combined), but truthfully, that’s about where the numbers should be.
You’re a college student. You don’t have a lot of cash right now.
If you need a more expensive place, you’ll have to make a trade-off. If it’s food that you limit, maybe it just means less meals eating out, or less expensive grocery foods. If it’s entertainment, maybe you have to start staying in and watching movies instead of going out.
Try to make choices that promote a financial advantage and result in savings.
The decisions you make now can have serious consequences after graduation. Not everyone gets a job three months after leaving school. Establishing “cash reserves” for the future is commendable if you can do it.
One last tip: prepare your budget before you even step on campus. Use our calculator to see how things stand for you. And if you need some help figuring out what your budget should be, schedule an appointment with a peer educator, they’d be more than happy to assist.