To create a budget for the school year is one of the best things you can do when you are in college. It works well for college students because the cost of tuition and the expenses through the year vary and is similar to an annual budget. You can have a set earnings goal that you work towards each summer. This can make it easier to graduate debt free when you do this. It can also help you schedule your time effectively if you do need to work during the school year. It helps to look at the whole picture as well as a monthly budget when you are a student in college.  Your biggest expense is likely your tuition costs and the fees associated with going to school each year when you are a college student. Your housing costs will be set up as annual cost too in case you are living in the dorms. The best way to start this budget is by listing these costs first. You can include that cost and your meal plan in this number in case you are living n on campus housing. It can simplify the budgeting process. You should also list the estimated cost for books for each semester.

 

Create a budget for a college

Next, you need to list the cost of your monthly every day expenses. If you are living off campus this can include rent, groceries and utilities. You will need to create a category for clothing, entertainment (movies, weekend plans, parties, Spring Break trips), transportation and other expenses. It is important to budget for everything that you are planning to spend money on.  You can estimate your monthly budget it amount and then multiply it by the number of months you will be away for college when creating these categories. Then add in annual costs like Spring Break or Christmas presents. Next, you need to determine the total cost for your entire year. You can do this by adding the two totals together. This is the amount that you will need to survive during the year. This total figure will give you a definite goal of what to work toward with your summer job and other jobs. You may be a bit overwhelmed when you look at the total cost. You may need to consider your summer job and whether or not it is paying you enough to cover college expenses. You may also need to take on an additional part-time summer job to increase the amount you earn over the summer. It is important to consider all of the options available to you to help you pay for school.  You should try to divide that money between the four years of college in case our parents have saved money for you for college. You need to estimate on the lower end, because you may not be able to find a job that pays as well or has the hours available in case you plan on earning money each month to supplement your other earnings.