Students’ budgets help with burden of college debt

In South Dakota alone 69 percent of students are in debt. The state average amount of debt in South Dakota is $26,023 according to The Institute for College Access and Success.

Being a student that already has debt to pay off and figuring out how to manage your money while in school can be difficult.

However, if you set a budget for yourself managing your money becomes much less intimidating.

To set a budget you first need to figure out exactly how much money you have.
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Once you do that you can allocate money to different categories. 

But creating a budget is only half the battle. A budget doesn’t help any if you can’t stick to it. As a college student, sticking to a budget can be easier than you might think.

First, make sure you are only spending money on things you need. If you have something more expensive that you want to have, set up a separate section in your budget to save up for it. Students also tend to spend too much at the grocery store because they shop hungry. If you shop right after you eat you are less likely to overspend. 

Another way to save money when shopping for groceries is looking at online ads to see what is on sale at Hy-Vee and Walmart and buy what you need where it is cheaper. You might be surprised at how often prices change. It may not seem like a big difference in prices but the little savings add up quickly.

When shopping for bigger items, always ask if there is a student discount. Many retail stores will offer some type of discount if you ask. Also, look for cloting at secondhand and vintage stores.

Another way to save money is to take advantage of free activities on campus instead of going out to do things that cost money. Go to MUC bingo or a cheap movie downtown instead of going out to eat or driving to Sioux City or Sioux Falls to do something.

Renting books instead of buying also helps keep costs down. Renting is cheaper than buying and you can still highlight and write notes in your books.

If you set a budget and stick to it you can save a lot of money in college that makes it that much easier to pay off your debt after college.