The money you live on as a student is not your own if it comes from borrowed funds (e.g., education loans, credit cards).
As you know, you must repay every dollar you borrow (plus interest). That repayment will come from your future income, so it will reduce what you have to live on once you graduate.
You need to think about this every time you spend these borrowed funds. You may make better choices while you're in school if you grasp how greatly your student lifestyle choices will affect your after-graduation lifestyle.
Try to live below your means while you are in school. Be thrifty! The less you spend now, the more you'll have once you graduate.
- Beware of buying "conveniences" such as fast food or drinks.
- Live with a roommate.
- Bring your lunch.
- When eating out, pick "cheap eats."
- Dress for less — shop at secondhand and discount stores.
- Have "free fun" (such as concerts and other school-sponsored events).
- Go to matinees or rent videos.
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