How to Manage Money as a Student: Budget Tips for College Success
Managing money as a student isn't just about skipping lattes or buying used textbooks. It's about building smart habits that stick with you long after graduation. When you're balancing tuition, living expenses, and limited income, every dollar counts. And while budgeting may sound like a chore, it can actually give you more control and peace of mind.
Here's a practical, step-by-step guide to help you get a handle on your finances during college—and set yourself up for long-term success.
The first rule of money management is knowing what's coming in and what's going out. Start by listing all your sources of income—whether it's part-time work, a scholarship stipend, parental help, or financial aid.
Then, break down your monthly expenses. This includes: Rent and utilities
Groceries
Transportation
Phone and internet
Tuition and fees (if not paid up front)
Subscriptions and entertainment
Categorize them into 'needs' and 'wants.' This doesn't mean you can't have fun. It just means you need to know where your money's going so you can make intentional choices.
Apps like Mint and YNAB (You Need a Budget) make this easier by tracking spending and helping you set limits for each category.
Once you have your budget mapped out, fund your essentials first. Rent, utilities, groceries, and tuition payments should always be covered before discretionary spending.
A common budgeting rule is the 50/30/20 model: 50% of your income goes to needs
of your income goes to needs 30% to wants
to wants 20% to savings and debt repayment
While this may not fit every student's situation perfectly, it's a solid starting point. Adjust the percentages based on your actual income and obligations, but don't let savings drop to zero.
College students have access to a surprising number of perks—if they know where to look. From transportation and software to restaurants and streaming services, student discounts can significantly reduce everyday costs.
Websites like UNiDAYS and Student Beans compile current offers and exclusive deals. Many major brands also offer educational pricing directly on their websites. For example, companies like Apple and Adobe have special pricing for students that can save you hundreds of dollars a year.
Using student discounts wisely allows you to afford the things you enjoy without sacrificing your financial goals.
Life is unpredictable. A sudden car repair or medical bill can derail your entire budget if you're not prepared. That's why even a small emergency fund matters.
Start with a modest goal: $300 to $500. Keep it in a separate savings account, ideally one that earns a bit of interest. This buffer will help you avoid relying on credit cards or borrowing money when the unexpected happens.
Remember, the point isn't to save thousands overnight. It's to develop the habit of saving consistently, even in small amounts.
Credit cards are useful tools—if used correctly. They can help you build a credit history, which you'll need for future goals like renting an apartment or buying a car. But they can also be dangerous if you treat them like free money.
Here's a smart approach: Use your card for small, planned purchases (like gas or groceries)
Pay off the full balance each month
Avoid using more than 30% of your credit limit
And never take out a credit card just for the rewards. If you're not confident you can manage it, stick to cash or debit until you are.
Between classes and assignments, your time is limited. But even a few extra hours of paid work each week can make a difference.
Look for jobs that fit your schedule and skill set: On-campus jobs (library, tutoring, front desk)
Freelance work (writing, design, coding)
Part-time remote gigs (customer service, virtual assistant)
Some students also explore work-study options, which are often more accommodating to academic responsibilities. Just be sure your job doesn't interfere with your grades. The return on your education is your top investment.
Budgeting isn't something you do once and forget. Your expenses and income will fluctuate, especially in college. Check in at the end of each month and adjust your plan.
Ask yourself: Did I overspend in any category?
Are there recurring charges I can cut?
Did I save as much as I planned?
Over time, you'll get better at spotting trends and avoiding financial pitfalls before they happen.
You don't need a finance degree to understand how to manage your money. But you do need to know the basics.
Look up concepts like: Interest rates
Student loan repayment options
Budgeting strategies
Credit scores
Resources like Investopedia offer clear explanations and guides that are beginner-friendly. The more you know, the better decisions you'll make—and the fewer financial regrets you'll have later.
Managing money as a student isn't about being perfect. It's about being proactive.
Every meal you cook instead of ordering, every discount you claim, and every dollar you save adds up. These small steps create a mindset of responsibility and independence that will serve you well beyond college.
It's not always easy, but it's always worth it. Start now, and you'll thank yourself later.
TIME BUSINESS NEWS
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
3 days ago
- Miami Herald
India Shuts Down Schools Over Birth Rate Decline
Some parts of India have been forced to shut down schools amid the country's declining birth rates. Economist Sanjeev Sanyal, who was previously the principal economic adviser in India's finance ministry and a member of the Economic Advisory Council to Indian Prime Minister Narendra Modi, has spoken about this happening and called for it to occur "more routinely." "Our population is only growing now because we are living longer, we are not having enough babies," he told the Indian financial newspaper Mint on Monday. "So our problem is already the case that in parts of the country we have to shut down schools." "We should be shutting them down," he added. "We are doing them slowly. But we need to do them more routinely. Because whenever I mention that we need to shut down schools, people get very emotional about this issue." "But in fact, there are many parts of the country, in fact now it would be more than half of the country, where if you do not close and merge schools then they don't have enough cluster children," he continued. "They don't have critical mass." "So we need to begin to adjust to the fact that our birth rates have radically declined," he said. India is one of the many countries around the world that is struggling with an aging population, meaning that people will continue to live longer while fertility rates fall. The nation, the most populous country on Earth, had a fertility rate of 2 (the average number of children a woman has) in 2023, the most recent year for which the World Bank has fertility data. The rate has fallen drastically from 1950, when it was 5.7. On top of this, the number of people aged 65 or older is projected to double over the next two decades, increasing from 108 million in 2025 to 254 million by 2050, according to the United Nations (U.N.) Population Division. By then, older people will make up 15 percent of the population, surpassing the number of children under the age of 15 by 2056. Some 36 government primary schools were shut down in the two academic years leading up to 2024 in Goa, India's smallest state, according to the local daily newspaper The Goan Everyday. Last July, the state's Chief Minister Pramod Sawant said at the Goa Legislative Assembly that the falling birth rate was partially to blame for this, along with the rise in parents sending their kids to aided schools, privately managed schools that receive financial assistance, or "aid," from the government or local authorities. Altone D'Costa, who is part of the Goa Legislative Assembly, added that the closure of government schools is problematic for several reasons, including that they often serve as community centers in rural areas. Multiple areas in the mountainous region of Uttarakhand have also shut down schools–although this is also because of large-scale migration out of hill districts, The Times of India reported in September 2024. In the Himalayan town of Pithoragarh, 21 schools shut down in the academic year 2023-24 while other schools have had to merge. District Education Officer Tarun Pant said this was because of "fewer children" along with "socio-economic factors" and "mass migration from villages." Similarly, in the city of Dehradun, in Uttarakhand, 24 schools were shut down in the 2023-24 academic year, after zero students enrolled, according to The Times of India. In the 2022-23 academic year, 15 schools closed. It is unclear whether India's national government, or its states governments, plan to shut schools down more "routinely" as Sanyal has called for. Newsweek has contacted the country's Ministry of Education, via email, for comment. In January, Newsweek reported on how India's aging population has led to stories about the elderly being abandoned by their children. Unique aspects of India's population problem include the fact that there is a disparity between states, meaning population shifts are not the same across the country, with population declining in some states and not others. Another component is gender inequality with Poonam Muttreja, the executive director of the Population Foundation of India, talking about how the burden of caregiving, whether for children or elderly family members, falls disproportionately on women. Policies "must enable women to balance work and caregiving effectively," she told Newsweek. Despite all this, India's working-age population has grown larger than its dependent population since 2018, and this "bulge in the working-age population" is expected to last until 2055, which offers a span of 37 years, the U.N. Population Division said. "During this period, countries experience a window of opportunity to accelerate economic gains," the division said. "Reaping this 'demographic dividend,' however, depends on sustained investments in education, health, and employment opportunities to enable productive and decent work for young people entering the workforce." Related Articles Indian Prime Minister Contradicts TrumpAir India Flight From Ahmedabad to London Canceled Days After Fatal CrashSeven Killed As Helicopter Crashes in India: What To KnowAir India Plane Crash Sole Survivor on How He Escaped 2025 NEWSWEEK DIGITAL LLC.
Newsweek
3 days ago
- Newsweek
India Shuts Down Schools Over Birth Rate Decline
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Some parts of India have been forced to shut down schools amid the country's declining birth rates. Economist Sanjeev Sanyal, who was previously the principal economic adviser in India's finance ministry and a member of the Economic Advisory Council to Indian Prime Minister Narendra Modi, has spoken about this happening and called for it to occur "more routinely." "Our population is only growing now because we are living longer, we are not having enough babies," he told the Indian financial newspaper Mint on Monday. "So our problem is already the case that in parts of the country we have to shut down schools." "We should be shutting them down," he added. "We are doing them slowly. But we need to do them more routinely. Because whenever I mention that we need to shut down schools, people get very emotional about this issue." "But in fact, there are many parts of the country, in fact now it would be more than half of the country, where if you do not close and merge schools then they don't have enough cluster children," he continued. "They don't have critical mass." "So we need to begin to adjust to the fact that our birth rates have radically declined," he said. File photo of an Indian woman carrying her baby, at a protest in New Delhi, India, taken in August 2012. File photo of an Indian woman carrying her baby, at a protest in New Delhi, India, taken in August 2012. AP India's Birth Rate Problem India is one of the many countries around the world that is struggling with an aging population, meaning that people will continue to live longer while fertility rates fall. The nation, the most populous country on Earth, had a fertility rate of 2 (the average number of children a woman has) in 2023, the most recent year for which the World Bank has fertility data. The rate has fallen drastically from 1950, when it was 5.7. On top of this, the number of people aged 65 or older is projected to double over the next two decades, increasing from 108 million in 2025 to 254 million by 2050, according to the United Nations (U.N.) Population Division. By then, older people will make up 15 percent of the population, surpassing the number of children under the age of 15 by 2056. Where Has India Shut Down Schools? Some 36 government primary schools were shut down in the two academic years leading up to 2024 in Goa, India's smallest state, according to the local daily newspaper The Goan Everyday. Last July, the state's Chief Minister Pramod Sawant said at the Goa Legislative Assembly that the falling birth rate was partially to blame for this, along with the rise in parents sending their kids to aided schools, privately managed schools that receive financial assistance, or "aid," from the government or local authorities. Altone D'Costa, who is part of the Goa Legislative Assembly, added that the closure of government schools is problematic for several reasons, including that they often serve as community centers in rural areas. Multiple areas in the mountainous region of Uttarakhand have also shut down schools–although this is also because of large-scale migration out of hill districts, The Times of India reported in September 2024. In the Himalayan town of Pithoragarh, 21 schools shut down in the academic year 2023-24 while other schools have had to merge. District Education Officer Tarun Pant said this was because of "fewer children" along with "socio-economic factors" and "mass migration from villages." Similarly, in the city of Dehradun, in Uttarakhand, 24 schools were shut down in the 2023-24 academic year, after zero students enrolled, according to The Times of India. In the 2022-23 academic year, 15 schools closed. It is unclear whether India's national government, or its states governments, plan to shut schools down more "routinely" as Sanyal has called for. Newsweek has contacted the country's Ministry of Education, via email, for comment. The Bigger Picture In January, Newsweek reported on how India's aging population has led to stories about the elderly being abandoned by their children. Unique aspects of India's population problem include the fact that there is a disparity between states, meaning population shifts are not the same across the country, with population declining in some states and not others. Another component is gender inequality with Poonam Muttreja, the executive director of the Population Foundation of India, talking about how the burden of caregiving, whether for children or elderly family members, falls disproportionately on women. Policies "must enable women to balance work and caregiving effectively," she told Newsweek. Despite all this, India's working-age population has grown larger than its dependent population since 2018, and this "bulge in the working-age population" is expected to last until 2055, which offers a span of 37 years, the U.N. Population Division said. "During this period, countries experience a window of opportunity to accelerate economic gains," the division said. "Reaping this 'demographic dividend,' however, depends on sustained investments in education, health, and employment opportunities to enable productive and decent work for young people entering the workforce."
Yahoo
4 days ago
- Yahoo
Public Advisory - Accel-Ondansetron ODT, Mint-Betahistine and PMS-Pirfenidone tablets recalled due to data integrity concerns
OTTAWA, ON, June 17, 2025 /CNW/ - Summary Products: All lots of Accel-Ondansetron ODT (4 mg and 8 mg tablets); Mint-Betahistine (8 mg, 16 mg and 24 mg tablets); PMS-Pirfenidone (267 mg and 801 mg tablets) Issue: Health products – Product safety What to do: Return the affected products to your local pharmacy for a replacement, and for proper disposal. If you are unsure whether your product is affected, check with your pharmacy. Consult a health care professional if you have used the affected product and you have health concerns. *See June 17, 2025 update for new information on two product lots. Affected products Product DIN Lot Expiry Accel-Ondansetron ODT 4 mg tablets 02535319 CDX00123 09-2026 Accel-Ondansetron ODT 8 mg tablets 02535327 CEA00123 09-2026 Mint-Betahistine 8 mg tablets 02538121 2330704 2430152 07-2025 01-2026 Mint-Betahistine 16 mg tablets 02538148 2330705 2330945 2330946 2330947 2430153 07-2025 10-2025 10-2025 10-2025 01-2026 Mint-Betahistine 24 mg tablets 02538156 2330706A 2430154 07-2025 01-2026 PMS-Pirfenidone 267 mg tablets 02531526 E0800A E0800C E0800E E0800F 11-2024 PMS-Pirfenidone 801 mg tablets 02531534 E0802A E0802C 12-2024 Issue UPDATE: June 17, 2025 - Accel Pharma can resume sale of undistributed lots after testing results confirm Accel-Ondansetron ODT is safe and effective to use After reviewing the bioequivalence test data provided by Accel Pharma Inc., Health Canada has confirmed that Accel-Ondansetron ODT (4 mg and 8 mg tablets) are equivalent to their brand name counterparts and are safe and effective to use. As a result, the company has resumed the sale of undistributed units from lots CDX00123 and CEA00123 (listed above). Original Advisory: June 7, 2024 Three companies (Accel Pharma Inc., Mint Pharmaceuticals Inc., and Pharmascience Inc.) are recalling all lots listed in the Affected Products table (above) due to concerns about the integrity of tests that are used to show that their generic prescription drugs work the same as brand-name versions. Health Canada's authorization of the affected products relied on the bioequivalence test data. Bioequivalence data is used to demonstrate that generic drugs are equivalent to their brand-name counterparts. The bioequivalence tests were conducted by Synapse Labs Pvt. Ltd., a contract research organization in Pune, Maharashtra, India. An inspection by a member of the European Medicines Agency, a trusted regulatory partner, found that data produced by Synapse Labs can no longer be relied upon to show this bioequivalence. As a result, the affected products can no longer be considered safe and effective. At Health Canada's request, the companies have stopped sale and have recalled all lots of the affected products until they can provide additional information to demonstrate that the products are safe and effective. Health Canada is monitoring the effectiveness of the recalls and will take appropriate and timely action if any new health risks are identified. What you should do Return the affected products to your local pharmacy for a replacement, and for proper disposal. If you are unsure whether your product is affected, check with your pharmacy. Consult a health care professional if you have used the affected product and you have health concerns. Report any health product-related side effects or complaints to Health Canada. Contact the companies if you have questions about their recall: Accel Pharma Inc., by contacting Betty Cory at Accel Quality Assurance by calling (416) 271-4775, or by email at bcory@ Mint Pharmaceuticals Inc., by contacting Olenka Crewe at Mint Pharmaceuticals Inc. Scientific Affairs by calling (416)-803-9151, or by email at olenkac@ Pharmascience Inc. by calling, toll-free, at 1-800-340-9735, or by email at customercarePms@ Background Accel-Ondansetron ODT is used to prevent nausea and vomiting related to chemotherapy in patients 4 years of age and older, radiotherapy in adults 18 years of age and older, and after surgery in adults 18 to 64 years of age. Receiving too little ondansetron could lead to reduced efficacy (i.e., increased risk of nausea and vomiting). Severe cases can lead to dehydration, loss of appetite, malnutrition, electrolyte imbalances, weight loss and fatigue. If used after surgery, severe nausea and vomiting might lead to complications such as wound opening and infection. Receiving too much ondansetron could lead to serotonin syndrome, a serious drug reaction caused by medications that build up high levels of serotonin in the body. Symptoms of serotonin syndrome can be mild, such as shivering and diarrhea, or severe, such as seizures, muscle rigidity and fever, and changes in heart rate and blood pressure. Too much ondansetron can affect heart rhythm and lead to sudden cardiac arrest. The heart-related effects and serotonin syndrome can both be fatal if untreated. Mint-Betahistine is used for reducing the episodes of recurrent vertigo (dizziness) associated with Ménière's disease in adults 18 years of age and older. Receiving too little betahistine could lead to reduced efficacy and inadequate disease treatment. Unexpected vertigo episodes can lead to accidents and injuries, which can have serious consequences. Receiving too much betahistine could lead to headaches, nausea, and upset stomach. PMS-Pirfenidone is used to treat a serious, long-term lung disease known as idiopathic pulmonary fibrosis (IPF) in adults 18 years of age and older. Receiving too little pirfenidone could lead to reduced efficacy and inadequate disease treatment, resulting in worsening symptoms and disease progression. Receiving too much pirfenidone can lead to nausea, diarrhea, upset stomach, abdominal pain, decreased appetite, dizziness, headache, photosensitivity (sun) reaction and rash. It can also lead to drug-induced liver injury. Signs of liver injury include yellow skin or eyes (jaundice). Change Log: 2025-06-17: Added update on the resumption of sale of Accel Pharma Inc. products. Également disponible en français SOURCE Health Canada (HC) View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
