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In addition to finding sources of money to pay for your education, learning to budget can also help you to graduate with as little debt as possible.
Budgeting means matching how much money you have to spend (your income) to f how much you can spend on your school and living expenses. These can be a one-time cost (a new computer) or recurring costs (food or rent).
Potential sources of money:
- Savings
- Income from a full-time, part-time or summer job
- Parents or step-parents
- Student loans
- Scholarships or bursaries
Expenses could include:
- Tuition
- Books and supplies
- Food
- Accommodations if you’re not living at home (residence or rent)
- Clothing
- Transportation (bus, Uber, car, gas, insurance, parking, etc.)
- Life (dates, going out with friends, sports and recreation)
- Phone
- Personal care (haircuts, etc.)
- Health care (medication costs, dentist, etc.)