The books are read and the all nighters began. Behind the scene, debt is looming. Student loans and credit card bills pile up and it may be ominous. What is a student supposed to do?
Some college students may choose to work on campus to pay off bills while others get jobs at the local market. Unfortunately, their spending is high.
A budget that might be implemented during the college years is this college budget:
10% to tithing. That is first as always.
10% to ones self. This is savings or what one earns and keeps for oneself.
10% is insurance money. This is for emergencies and emergencies ONLY.
70% goes towards living expenses and school debt. This pays for gas and food. Fortunately, as a student, spending is limited and one can get food at the cafeteria. The rest of the $ goes to pay off debt.
This only works if one has a specific situation like college students who has many of their expenditures covered like student health insurance and live in the inexpensive dorms.