Budgeting as a College Student

Posted: February 22, 2010

By: Jimena Ballina

As a second-semester college junior, I’m sort of in a middle stage. It’s almost the midpoint in the semester and I’ll soon be a senior. I’m excited and ready for the independence that’s coming, but with this independence comes responsibilities that are really concerning, particularly involving the aspect of money.

A few days ago I realized that right now I have very little to pay for. I really don’t have much I need to spend on and what extra I do have after making minimum payments on my credit card usually goes to my coffee addiction.

While I was considering my current money situation and how I handle my current credit card debt, I thought about how I took loans to go to college and have to pay for them myself as well. It never bothered me before because it was in the distant future, but in a year I’ll graduate and have to face the payments.

This realization overwhelmed me. Financial responsibilities are inching closer, and I wonder how I’ll manage the debt that comes from student loans while balancing housing, food, and other necessities. I always thought that once I got a job in my chosen career, money issues wouldn’t be a problem; however, these future responsibilities in reality are not so far away.

For many of us college students paying for school with loans, the one fear we have concerning life after graduation that floats in our minds can be summed up in one question: how am I going to take care of this debt and at the same time lead a successful life?