Budgeting Guide #81: How to Build a Budget as a Student (Even Without Income)

 

College Life = Tight Budget? 

Here's How to Stay Financially Smart (Even on Pocket Money)

You don’t need a salary to build money discipline. College students can build solid habits using simple budgeting systems from Day 1.

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📚 Step 1: Know Your Income

This includes:

• Monthly allowance
• Part-time/freelance income
• Scholarships/stipends
• Pocket money from family

Track every rupee.

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🧾 Step 2: Categorize Expenses

Break your monthly spending into:

• Essentials – food, transport, mobile recharge
• Education – books, courses, stationery
• Fun – outings, games, shopping
• Savings – even ₹100/month counts

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💡 Step 3: Use the 60/30/10 Rule (Student Edition)

• 60% = Needs
• 30% = Wants
• 10% = Savings

If savings feel tough, cut wants to 20% and increase savings to 20%.

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📱 Apps for Students

• Monefy
• Splitwise (for group tracking)
• FamPay or Akudo (prepaid card wallets)

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✅ Conclusion

Budgeting is not about limits — it's about freedom to make smart choices. Start as a student, win as an adult.

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