1 Create a budget. It is of utmost importance. List the monthly income sources, including savings, pay and parental leave benefits, and then write the estimated cost per month. It is not easy to determine college living expenses in advance, but you should try. Take your expenses like school supplies, food outside their eating habits, personal hygiene and laundry into. Then try to manage your budget and track expenses using online personal finance tool like Mint.com, which helps you easily create and stick to a budget.
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