Personal finances should start from a young age. The independent life of a college student provides a good opportunity to experience, develop, and grow good money habits.

Congratulations, you’re a college student!

As a young adult, you are likely to have moved out of home (Merdeka!) to pursue your education. For those who are still living at home while doing so, you will likely be living a more independent life compared to your secondary schooling life. Among some of the new skills you will need to master will be, of course, financial savvy-ness.

Whether you are paying your own way, receiving parent’s help, using financial aid, or a little of all three, college is an expensive experience that becomes pricier with poor spending practices. College students often collect debts quickly. As with any adult, if debt is not managed well, you will face a lot of hardship trying to settle your debts instead of having a fulfilling young adulthood.

What causes some college student debts to rack up more quickly than others? Generally, it falls to lack of financial awareness and poor money management. However, these are easily overcome if you take the effort to learn about your current financial situation and instill practical yet reasonable money management habits. With this in mind, we provide you with a few financial tips to survive in college years.

#1. Create a detailed budget

Carefree high school students frequently spend whatever is in their bank account, living off their parents’ generosity or the spoils of a part-time job. Once that student moves away to college, a budget becomes crucial.

Whether or not you have been exposed to a budget, it’s important that you sit down to look at finances. Map out your various streams of income, including money from parents, income from a part-time job, and money coming from student loans, grants, and other types of financial aid. Then, categorize your expenses you know where it’s all going. Maybe, in the beginning, you can’t force yourself to stick to a budget but you can feel confident because now, you have a clear picture of what is and isn’t affordable.

You can use a smartphone app that makes money management easy and convenient. Some apps, like Spendee (Google Play