I’m convinced that the majority of college students shudder at the word ‘budget.’ College is notoriously a time of fiscal irresponsibility and wastefulness. Those $100 earbuds you’ve been coveting for the past three days? Just get a coupon that brings the price down to $95.99! That extra-large pizza that looks so tempting when you’re up late and hungry at 3 a.m.? It’s only $14, that’s practically a bargain!
It’s so easy to spend money frivolously, especially when all the thousands of dollars for your college education won't be collected until after you graduate. But I promise you, you’ll be thanking yourself the day after you graduate and have some extra money tucked away to find an apartment, buy a car and start paying off those ridiculously large loans.
The same thing applies for time. Even though it’s Friday night and you don’t have anything due until next Monday, that doesn't mean you can wait until Sunday night to start the stacks of homework that line your desk. My strategy is to always do homework in my free time, so that I can go on those spontaneous adventures that college is known for. It is through planning ahead that I am able to make affordances in the future for the things that really matter, rather than what I’d prefer to be doing at the current moment.
My recommendation is to budget $100 a month for everything you need (I have a 15 meal plan, and find this enough to cover all my extra expenses). This will give you allowances to go out for food with friends, see that cool indie singer who's coming to Calvin and go grocery shopping for your miscellaneous home snacks.
With regards to budgeting time, my best advice is to do the homework due tomorrow the day before (at least). This allows you to not stress as much the night before, and you’ll never have to worry about pulling a stressful all-nighter ever again.