How to prepare a budget plan for college goer?

I want to plan a budget for kid who’ll soon be in college. Can you please guide me how to prepare a college budget plan for a young college goer?

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In order to prepare a college budget plan for your child, you should at first explain him the importance of money. Make sure you provide your child proper education on finance so that he knows how to spend it wisely. Tell him to draft the budget in such a way that he can spend money in buying the necessities and even save some money from that every month. Also, tell him not to spend even a single penny unnecessarily.

 

 

 


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Before you prepare a budget plan for your college going kid, you need to make him or her understand the importance of earning money to make them realise the value of money. Prepare a budget after reviewing expenses related to meal, books and supplies, clothes and bedding, entertainment and travel. Try to open a local checking account and encourage him to save certain amount from his pocket money. You can get a secured credit card for him and try to track whether or not he exercise financial discipline and ensure that he uses the card responsibly.


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You have not given us enough info.  Is the student going to live at home?  What are the tuition and fees?  Do you even know yet?  Get your FAFSA done and find out what aid he is eligible for and THEN we can see how much more of a budget HE needs to make.

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Credit cards??? Students under a certain age cannot get credit cards anymore without an income.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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You've to consider a few factors while preparing a budget plan for a college student. The factors are:

Expected college expenses (food, book, furniture, travel, phone and printer)

Your monthly income

Check if the student is receiving any kind of financial aid

Credit cards

 

 

 

 


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