Student Budget Calculator

There's a lot more involved in paying for college than sending a check for tuition and fees and forgetting about it. Many more expenses come into play when you are in school, and it can be tricky to create an accurate budget for all of these costs. Luckily, you can find many worksheets and budget calculators online to help you figure things out. Here's an overview of some of the typical things you'll be spending money on during the academic year.

Books and Supplies
At the beginning of each semester, you'll get a list of books to buy, and that list can be very expensive--especially if you've signed up for a major like biology, which requires a lot of textbooks. English majors don't get off any easier, because they often have to purchase many books for a single class. In addition to your books, you'll need to buy supplies like a notebook and pens for taking notes during class; paper and printer ink; highlighters; and much, much more. All schools provide computer labs, so you don't really need your own computer. However, you might find that you work better in your own space, and having your own computer in your dorm room or apartment can make things a lot easier. Let's face it. Some of us are just a lot more comfortable studying in our pajamas. You can save money on books and some supplies by purchasing them slightly used. You don't want books that are missing pages, or that have been over-highlighted, but you can save a great deal of money by avoiding the brand-new tomes. Used computers and peripherals are another option that can help you save. Just make sure you purchase them from a reputable dealer, or you could end up with something that just doesn't work. And you don't want to find out your printer doesn't work when you're getting ready to print out the first paper of the semester.

Utility Costs
If you're living in a dorm, many of your utilities will be taken care of, but you'll probably still be paying for a cell phone and possibly cable. If you can find an apartment that includes utilities as part of your rent, that's great. If not, you'll want to find out what the average cost for things like electric and gas are. In addition, you'll need to take into account the cost for phone (with long distance), cell phone and Internet connection. You'll probably want high-speed, since you'll be using your computer for a lot of study, and you don't want to wait around while Web pages are loading. Factor all of these utility payments into your budget.

Living Expenses (Pizza and Beer)
If you're living in a dorm, you'll likely have access to a cafeteria for most of your meals. Take advantage of it--it's already paid for. Still, you'll occasionally want to treat yourself to a pizza or dinner out, and you should include some money in your budget for this. A movie every once in a while is a good thing to budget for as well--you'll need a break here and there from studying. For this part of your budget, you'll want to include: food and drink; entertainment; laundry costs; clothing; and personal items like razors, shampoo, etc.

Transportation
You'll be spending most of your time on campus, so you're not going to need to spend a lot on getting around. If you take your car to school with you, you'll likely be spending a lot on parking. Some other transportation-related expenses include: bus/train fare, car payments and insurance, gas (not a cheap proposition these days), travel to and from home, and vacation costs.

Health and Fitness
Many schools include a health plan with insurance as part of their fees, but others allow you to elect to purchase this coverage. Whether or not you get your health insurance through the school, you will want to be sure you have some kind of health insurance coverage. Things can and do go wrong, and you don't want to be saddled with thousands of dollars' worth of medical debt. Another cost that may be included in your school fees is access to a gym. This may or may not be important to you. If you'd prefer to hit the streets in your jogging shoes, you'll save some money. Otherwise, take advantage of relatively cheap gym memberships offered through your school.

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