![]() A dinner out or two or three is enough to upset a carefully constructed budget that you want to last for several months., Learn to say “no”Īs anyone on a budget will tell you, sometimes you have to say “no” to fun activities such as eating out at restaurants. “Financial aid can be used for educational expenses, including housing and school supplies, but should not be used for items such as spring break trips,” Colatriano says. Tempting as all that money may be, don’t blow it on a pizza party in your dorm room or a weekend getaway. When that aid check arrives, use it to pay for essential expenses, such as tuition. Make the most of financial aidįinancial aid is a crucial part of a college student’s budget. Stewart, a financial advisor with Ameriprise. “The key to staying on track is to manage your expenses and to regularly monitor your spending,” says Kimberly R. “Plan what income you have, whether that’s a combination of scholarships, grants, loans, or paychecks, and make sure that can cover your monthly expenses.”įor help with planning, check out free budgeting apps such as Wally and Mint. “One of the best things a student can do for their finances at the beginning of the school year is make a budget,” says Angela Colatriano, chief marketing officer at College Ave Student Loans. So get ready to make a budget for your semester and school year spending. You’ll need to keep close tabs on your money if you wish to use it wisely. Using student discounts is one way to save money and stay on budget. Credit: Reviewed / Getty Images / whitebalance.oatt
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