news   |   student life

Money management for the clueless college student



specbudgetsp2020

Money sits on a table Dec. 1, 2019, in Franklin Hall. Mint and Digit are two free budgeting apps to help students create a budget. IDS file photo and Alex Deryn

Going from dorm life to living in an apartment or house can be challenging for college students. On top of grueling classes and an already busy schedule, you now have the added responsibilities of paying bills and grocery shopping. Here are five easy tips on how to make ends meet.

1. Plan - Know your income and how much you can actually spend each month. It’s better to overestimate your expenses than underestimate your income.

2. Track your expenses - Keeping a budget can be super helpful and ease your mind when you need to know how much you should be spending. There are tons of helpful and free apps like Mint and Digit that can make creating a budget easier.

3. Pay for necessary things like rent and utilities first. Then continue in order of importance with groceries, gas and other crucial expenses. This will help you know how much you can spend at bars, restaurants and on other things.

4. Save up - Even saving $15 to $20 a month can add up. Having a little bit tucked away will help when if you ever fall behind on payments one month.

5. Spend smart - There are tons of ways to save money and avoid unnecessary spending in Bloomington. Look for free or low-cost entertainment options on campus and around town. Take advantage of sales and special deals and remember name brand isn't always the way to go.

Like what you're reading? Support independent, award-winning college journalism on this site. Donate here.

More in News



Comments powered by Disqus