Broke Today, Rich Tomorrow: A Student’s Guide to Budgeting (Without Starving!)
- Dulina Rathnayake
- Mar 19
- 4 min read
Chapter 1: Broke Today, Rich Tomorrow: A Student’s Guide to Budgeting (Without Starving!)
It was the first week of the semester, and life was good. I had just received my student allowance, and my bank account looked healthier than ever. I strutted into my favorite café, ordered an overpriced caramel macchiato, and thought, “I’m going to be so responsible with my money this time.”
Fast forward two weeks—my wallet was emptier than my motivation to study on a Monday morning. Rent was due, my fridge contained only expired yogurt, and I was seriously considering selling an organ (just kidding… mostly).
Sound familiar? Welcome to the Student Budgeting Crisis, an all-too-relatable struggle where money disappears faster than a pizza at a dorm party. But don’t worry—I’ve cracked the code to surviving university without being broke all the time.
Chapter 2: The Magical Art of Budgeting (Yes, It’s Possible)
Budgeting might sound about as exciting as watching paint dry, but trust me—it’s the key to never having to beg your roommate for instant noodles again.
Here’s how I finally learned to manage my money like a responsible adult (or at least, pretend to be one).
Step 1: Count Your Golden Coins (a.k.a. Income 💰)
Before you can budget, you need to know how much money you actually have. For students, this usually comes from:
Part-time jobs (hello, minimum wage)
Scholarships & grants (free money is the best money)
The Bank of Mom & Dad (if you’re lucky)
Side hustles (freelancing, tutoring, selling your notes to desperate classmates)
Total up your income. If the number makes you cry, don’t worry—we’ll fix that in a minute.
Step 2: The Harsh Reality of Expenses (a.k.a. Where Your Money Actually Goes 😭)
Ah, expenses. The great villain of every student’s life. Here’s a breakdown of where your money disappears:
Rent – Because sleeping in a library isn’t legal (yet).
Food – A choice between gourmet meals or instant ramen for a week.
Bills – Electricity, Wi-Fi, and that gym membership you forgot to cancel.
Entertainment – Streaming services, coffee runs, and spontaneous road trips.
Impulse Buys – Did I need that $30 avocado toast? Absolutely not. Did I regret it? A little.
Step 3: The 50/30/20 Rule (The Budgeting Hack That Saved My Life)
To stop myself from spending all my money on boba and burritos, I followed this simple rule:
50% – Needs (rent, food, bills)
30% – Wants (movies, eating out, shopping)
20% – Savings & Debt Repayment (or an emergency pizza fund)
It’s easy to follow and keeps you from running out of cash halfway through the month. Trust me, budgeting is a lot better than calling your parents with the classic “I may or may not have accidentally spent my rent money” excuse.
Chapter 3: Saving Money Without Giving Up Fun
The biggest myth about budgeting? That it means no fun, no shopping, and no social life. False. You just have to be smart about it.
Hack #1: The “Broke Student Discount” Superpower
Always ask for student discounts. Many places give 10-30% off, but they won’t tell you unless you ask.
Use cashback apps—free money for spending money you were going to spend anyway? Yes, please.
Buy second-hand textbooks. Paying $200 for a book you’ll use once is a scam.
Hack #2: The “Do I Really Need This?” Trick
Before buying something, ask:
Will I still want this in a week?
Is there a cheaper (or free) alternative?
Am I buying this just because I’m sad/stressed/hungry?
If you hesitate on any of these, step away from the checkout. Your future self will thank you.
Hack #3: The Ultimate Food Budgeting Cheat Code
Cook at home (yes, even if you’re terrible at it).
Meal prep—future you will be grateful when you’re too lazy to cook.
Avoid fancy coffee every day. A $5 latte every morning adds up to $150 a month—that’s groceries for two weeks!
Chapter 4: Side Hustles – Because Money Doesn’t Grow on Trees
If your budget is still looking sad, it’s time to make more money. Here are a few student-friendly side gigs:
💻 Freelancing – Writing, graphic design, coding, social media management.
📚 Tutoring – Help classmates or high school students with subjects you’re good at.
📸 Selling Stuff – Old clothes, textbooks, or even your lecture notes.
📱 Social Media Monetization – Start a TikTok, YouTube, or blog (like this one ).
Chapter 5: The Grand Finale – Financial Freedom (Sort Of)
After months of trial and error, I finally mastered budgeting. No more surviving on instant noodles for a week. No more panicked calls to my parents. No more financial meltdowns.
Instead, I had enough money for rent, savings for emergencies, and even some guilt-free spending cash. (And yes, I still buy an occasional overpriced caramel macchiato—but only when it fits my budget ).
Final Words of Wisdom
Budgeting is NOT about being cheap—it’s about spending smart.
Small changes make a BIG difference (like making coffee at home).
The earlier you start budgeting, the less broke you’ll be in the future.
Now it’s your turn! What’s the most ridiculous thing you’ve ever spent money on as a student? Drop it in the comments!
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