by peterpan

Created on: September 30, 2008   Last Updated: September 10, 2009

I am a college student and I know how hard it is to budget my monthly allowance. Before, my allowance was given weekly so I was sure enough that I would never run out of money since I am expecting another allowance every week. However, now that I am receiving allowance every month, the challenge is how to budget the money now that I am getting hold of the entire amount for a month.

There had been times when I overspent such that I had already spent all my money by the third week of the month. That experience was really hard that I needed to borrow money from a friend just to make ends meet. I was really ashamed of what happened to me so I make it sure that I am able to manage my monthly allowance these days.

FOOD

This is the first and primary consideration when it comes to my monthly allowance. This eats up a large percentage of my allowance so I try to make sure that I would never run out of budget for food or my grades will also suffer because of starvation.

I make it sure that the food I eat is healthy. Healthy foods do not need to be expensive so I avoid restaurants and food chains since food there can be expensive for a college student. I eat in the school canteen where food is cheaper but to save more money, I cook. Yes, I have cooking utensils in my apartment and it is really a good move to invest in your cooking stuffs since it would save you a lot of money in the long run.

Whenever I cook for dinner, I make it sure that the food will be enough until lunch the next day. I just reheat the food in the morning and then I pack the food for lunch. Instead of spending money for lunch, I am able to eat lunch without spending anything.

Water is also important need of our body. However, instead of getting used with sodas and juices, try to suffice your thirst with water. Always bring with you water bottles and you just refill it in water dispensers in your school. That's what I usually do and believe me, it will help you save a lot.

RENTALS

Many college students study away from their house, therefore, they are forced to live in apartments and dormitories. The monthly rental should be taken in consideration in your monthly budgeting, If possible, the moment you receive your allowance, you should already keep the money for the rental. This would help save the money from the temptations of spending it in other things.

If in any case you have a close relative who is living near your school, you may just live with them. You can just give some bucks every month but this would

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