Financial Responsibility in College: A Student’s Guide

College can sometimes feel like a difficult time to have financial responsibility. After all, it’s typically the time when you have the smallest amount of financial freedom; you’re probably putting most of your money toward things for school. The good news is that you can have financial responsibility no matter when you’re thinking about it. Here’s how to have financial responsibility in college.

1. Create a Budget

A budget is one of the most important parts of this process. When you’re managing a budget, think about how much money is coming in and out every month. You might want to utilize some of the more popular budgets out there, or you may just want to craft your own. Either way, even putting your budget down on paper can help you get some idea of where you’re spending, which can be beneficial.

2. Know Where Your Money’s Coming From

How are you getting money every month? Do you have a job? Are you part of a scholarship fund? Do your parents give you a certain amount of money every month? You should pinpoint all the places that you receive income, as well as the dates of your income, then write down about how much you receive every month from all sources combined. This can give you an idea about when you receive money and when you might have leaner times.

3. Think About the Pros and Cons of Paying Off Student Loans Early

Some students scrimp and save as much as possible to put all of their disposable income toward paying off student debt. Paying off student debt early can definitely minimize the amount of interest you pay on said loans. However, it can come at the cost of a savings “safety net,” and it can of course make your college experience a little more difficult. Try to calculate how much you’ll save in student loan interest, then see if you feel like it’s worth that extra money.

4. Spend Your Money Wisely

Of course, anyone is going to tell you to spend your money wisely. That’s the most basic financial suggestion out there. The thing is, many people don’t really know what that means. Spending your money wisely means that you’re spending money on things that make your life better, whether it’s tutoring or a night out with friends. Make sure you’re spending money on things you personally care about.

5. Consider Options to Make Extra Money

There are a number of options you might be able to use to make extra money. This is actually especially true with students. As a student, you can take advantage of special options like the OneClass Official Note Taker position. With these positions, you can receive payment for something you may already be doing, which can put you in a much better financial position.


It’s possible to be financially responsible in college. You just have to think about what “financial responsibility” means for you. Pay attention to your options for finance in college, whether it’s taking advantage of special student-focused money-making options or just crafting a budget. Those financially responsible skills will follow you throughout the rest of your life.