Establishing good financial habits at a young age helps you throughout your entire life and can make a significant difference in your long-term financial health and stability. Make a reasonable budget and stick to it – you'll be glad you did.
Creating a personal/household budget serves several purposes:
Budgeting obviously isn't a "fun" task for many, especially because it often raises challenging questions that may be uncomfortable for you to answer for yourself. Paying close attention to discretionary (non-necessary) expenses – those other than tuition, books, basic shelter and food costs, and bills – and keeping them in check may not seem like much fun to you, but keeping those expenses to a reasonable minimum will pay off in the long term. Although it's not necessarily welcome news for many students, a critical method for minimizing your debt is to "Live like a student while you are in school, so you don't have to live like a student after you graduate."
There are many tools (including free, online tools) that allow you to budget and keep track of your income and expenses with relative ease.
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Other resources include: