What I Learned About Budgeting in College

My first week of college I received a check for about four thousand dollars. It was student loan money that was supposed to cover an apartment, books, transportation, all the necessities of college life for the next three months. But by the end of the first month I had blown most of it away.

I had bought a new computer to help me study, a new bike to get around campus, and had spent a ridiculous amount of money eating out with friends. By the end of the first quarter I was eating ramen, skimping on laundry, and counting the days till I’d get my next loan check.

The problem was that I was budgeting –if you could call it budgeting– off my account balances. I wasn’t thinking about the expenses I would have to pay later. When I saw that I had four thousand dollars in the bank, I thought that I had plenty to spend on whatever I wanted. I forgot about rent, books, transportation, and all the necessities I would need for the next three months.

Don’t make the same mistake! Whether you’re working your way through college or taking out loans, it’s important to set a budget with your money. Use Goodbudget to budget your income, setting aside the money you’ll need later so that you know how much you can spend today.

If you’re looking for a sample student budget that you can use to build your own, we’ve got you covered. When you’re ready, create your budget in Goodbudget so you can track your progress and keep it with you on the go.

Subscribe to the Newsletter

Get the latest in budgeting content — straight into your inbox.

Thank you!

See you in your inbox.

Search for


Say hello to Goodbudget

  1. A strong philosophy.
    Transform your financial life with the Goodbudget Way.
  2. A time-tested system.
    Goodbudget is based on the envelope budgeting method.
  3. Great budget software.
    Available for the Web, Android, and iPhone. Get started with Goodbudget. Sign up now!

Get Help




Leave a Comment