College Budget Guides

College is expensive, but managing your money doesn't have to be complicated. The average student spends over $2,000 per semester on non-tuition expenses—food, entertainment, transportation, and supplies. With the right budget plan, you can cut unnecessary spending, save for emergencies, and still enjoy your college experience.

Essential Budget Categories

• Housing & Utilities. Dorm fees, rent, electricity, water, and internet typically make up 30-40% of your budget. Consider roommates to split costs and look for student housing discounts.
• Food & Groceries. Meal plans, dining out, and groceries can cost $200-400 monthly. Cook in bulk, use student discounts, and limit eating out to 2-3 times per week to save hundreds.
• Books & Supplies. Textbooks average $500+ per semester. Rent instead of buying, use library reserves, buy used copies, or find free PDFs to cut this expense by 70%.
• Transportation. Gas, parking permits, public transit, or rideshares add up quickly. Use campus shuttles, bike when possible, or carpool with classmates to reduce this cost.
• Entertainment & Personal. Social activities, subscriptions, and personal care are important but flexible. Set a realistic limit and find free campus events to balance fun with savings.

The 50/30/20 Rule for Students

This simple framework helps you allocate your money wisely: 50% for needs (housing, food, tuition), 30% for wants (entertainment, dining out, hobbies), and 20% for savings and debt (emergency fund, paying down student loans). Adjust percentages based on your situation, but keep the principle—prioritize essentials, enjoy some luxuries, and always save something.