Keeping a budget in college is important for stretching your college money and for dealing with post-college reality.
Writing How to Budget College Expenses: Reduce College Debt with a Budget brought back memories for me. I paid for four years of college entirely on my own with federal college loans and summer jobs. I did a couple of work-study stints as well.
Although I counsel college students to be prepared for the finite nature of their funds by preparing a budget, I admit I did not have one in college. I was so afraid of not having enough money and having to quit college that I spent very meagerly. I even graduated with money in the bank because of my extremely frugal ways which was nice, but if I had a budget I could have enjoyed some entertainment other than David Letterman on late night TV every once in awhile.
Most college students need a budget to be sure they don't blow all their bucks during the first academic quarter and most, like me, do not think about a budget before they head off to college. Having a college budget not only ensures that you don't overspend, it also can help you to keep your expenses down so you need to take out fewer student loans. Less debt after college will make your life much easier.
