Reasons why it is important to always have a budget while in school.

Not having a budget basically means you have not planned how you spend your money – you just spend it as it comes, which is a dangerous way to live. It’s advisable to always have a budget for every spend for a number of reasons:

1. It helps you keep your eyes on the prize: If you have a financial goal you’d like to achieve within a time frame (e.g. buying some books or new phone), having a budget can help ensure you meet that goal.
2. It makes you financially prudent: Always budgeting helps to make sure that you’re up-to-date on your finances and know how you’re spending your money.
3. It prepares you for emergencies: When you keep a budget, having to make a sudden purchase for school or a pressing personal need won’t be too much of a problem, as you would have kept miscellaneous funds aside as part of your budget.
4. Helps you avoid getting into debt: Keeping budgets and being in charge of your finances helps you make smart decisions and avoid running into debt. With proper budgeting, you’d know when you’re running out of money and be able to prioritize the things you buy accordingly.