Think of your personal budget as a road map.
Your budget is an important financial tool. It tells you where you are now, where you need to be, and how to get there.
Plan and stick to a monthly budget
The sooner you start making conscious decisions about how and on what you spend money, the sooner you’ll be in control. Planning and sticking to a monthly budget will help you avoid piling on more debt, help you save money, and make it easier to afford the lifestyle you want after graduation.
If you’ve worked it out so that your current financial resources, including your loans, will allow you to live within a budget then we have just three words of advice:
Stick with it.
Make sure you track your expenses so you can determine if you’re adhering to your budget plan. If not, make adjustments so your plan is realistic. And if your circumstances change, re-evaluate your budget plan to make sure it still makes sense for you.