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HESC is an agency in New York that provides financial aid to students.  This agency has a few important tips with the help of which students can control on their spending in college and complete their education in comfort.

There are a few things that are ‘must haves’ for new college students such as cool cell phones and hot clothes. According to HESC, it is in the best interest of students to control on their spending during the initial stages to avoid budget crisis towards the end of the semester. HESC advises students not to use credit cards in an indiscriminate manner.

It is a good idea budgeting carefully on a weekly basis. Your weekly allowance must be able to support and cover personal care items, transportation, supplies and books and other important expenses. Choose your entertainment options with discretion. With a good spending plan in place, you will never be short of money when you most need it.

Very often, we find that no matter how much you plan, you end up with nil balance towards the end of the week. There are various small expenses that when put together pile up to a big amount. These include buying bottled water, buying online, ATM fees, Gourmet coffee and other impulsive buying.

The first step towards effective budgeting involves taking charge of your spending. This is possible by noting down what you spend and reviewing periodically. Doing this for a week or two will give you an idea about how much you spend on water, coffee and anything else. You can save on water you buy by bringing your own in reusable bottles. You will also be contributing towards preserving your environment by using lesser plastic.

Keep a control on ATM transaction charges by opening an account with a bank that has an ATM close to the campus. Monitor your spending with an awareness for some time and you can actually find out where exactly your pennies go. You can then prioritize your expenses and gain control. Bring into place a precise financial plan which will help prioritize and set limits. You will also be aware of what you essentially require and what you badly want. You will also have the will power to put off purchases that are not in the priority list. HESC even offers students online budget calculators in order to develop a sound spending plan, set up an efficient savings plan and balance the check book.
 
Do not forget to allocate funds towards entertainment. This will help you maintain a positive spirit towards the plan. Initially, it is a good idea writing down your plan as it takes quite a while getting used to it. Before you spend impulsively on anything, ask yourself if you really do need it.

Your life at the college is to be enjoyed without any stress and tensions. Enjoy your independence and spread your wings to achieve your goals in life with the help of effective financial planning.