When you're away from home, your parents expect you..........Therefore, be careful and don't give in to temptation.

When you're away from home, your parents expect you to be responsible for yourself and this includes taking care of your own finances. To manage your money sensibly, you need a plan to work with.

Write down your allowance and expenses for the month. What you are doing is actually budgeting your income. Make sure that you set aside a small amount for your savings. One way of cutting cost is eating in. It is cheaper than eating out. Moreover, by cooking your own meals, you have greater control over what you eat. Besides that, if you know of friends who live in the same area as you, you might want to consider driving to college together. This saves on petrol and parking. In addition, when you shop for household items, compare prices from one shop to another before making your purchase. If you can, wait for sales when you can get better discounts. However, sales where prices are marked down incredibly can sometimes tempt you to buy things which you don't really need. Therefore, be careful and don't give in to temptation.

Summary: To manage your money sensibly, you must first start with a plan. Write out your budget and put aside a set amount for savings. You can save money by eating in and carpooling. Besides that, before buying household items, compare prices first. If possible, wait for sales but do not be tempted to buy what you do not need.