CB&S Bank Logo

Saving and Spending Wisely in College

Mother hugging daughter while dropping her off at collegeGoing off to college is such an exciting time in a young adult’s life… It is a time of complete freedom, independence, and not to mention, responsibility. One of the more unnerving responsibilities that come with adulthood is the task of creating a budget.

While the hassle of not only creating a budget, but also sticking to one, may seem intimidating, it’s really quite simple. Here are seven tips to help you save and spend wisely in college:

  1. The first step to creating a budget is to know exactly what expenses to expect:
    • Are you going to be paying your own tuition? Don’t forget about the expense of books, school supplies, transportation, rent and utilities, food, clothing, entertainment, and savings.
  2. List your income/allowance and your expenses:
    • It’s best to overvalue your expenses and undervalue your income/allowance
    • Be sure to write down everything you spend money on during the month… Break this into categories so you can more easily recognize the areas where you can cut back
    • Be sure to keep up with your spending. By observing your spending habits you are less likely to find yourself with overdraft charges—if you find yourself in a constant state of paying overdraft fees and can’t seem to track down your funds, it may not be a bad idea to sit down with your local CB&S Banker to see how we can help improve your finances.
  3. Listing your income brings me to my next question… Are you planning on working throughout your college career?
    • It’s not a bad idea to get a part-time job during college. Most colleges even have work study programs.
    • If you do choose to work throughout college, you may need a bank account to enroll in direct deposit—CB&S Bank offers a great student account that has a lot of great benefits to college students.
  4. Start saving now:
    • Plan for emergencies by adding a “Savings” category to your budget
    • Remember that even saving the smallest amount adds up in the future
    • If you are planning on taking a trip for Spring Break or for Summer vacation and don’t want to break the bank, consider a savings program that allows you to save a little each month. CB&S Bank’s Vacation Club Savings allows automatic transfers from your checking account while earning a competitive rate of interest.
  5. Learn to differentiate between your wants and needs:
    • When grocery shopping try to make a list and stick to it. This will help you from overbuying when shopping. Also make sure to take full advantage of sale items and use coupons when you can!
    • Try cutting out the coffee shop pit stops you make every day on your way to class… If you really need the caffeine, start bringing your coffee with you.
    • Learn to pack a lunch and cook dinner yourself. You can save a lot of money just by not eating out for every meal.
  6. Take advantage of your student status:
    • Flash that student ID every chance you get—a lot of stores and restaurants give college students discounts just by showing your student ID
    • Learn to take advantage of all that your university does for you. A lot of campuses have free movie screenings, events with free food, transportation options and even outdoor rental centers with bikes, kayaks and more.
  7. It’s okay to adjust your budget—in fact, you probably should!
    • As situations change, so should your budget… For example, if your landlord raises or lowers your rent, it is a good idea to reflect that within your budget.


  1. Personal

    1. Personal Banking
      1. Personal Accounts
        1. Personal Account Comparison
        2. Star Account
        3. Star Rewards Account
        4. Prime Advantage
        5. All About U Student Account
        6. Golden Customer Club
      2. Personal Savings
        1. Savings Account Comparison
        2. Star Savings
        3. Star Rewards Savings
        4. Super Star Savers Club
        5. Christmas Club Savings
        6. Vacation Club Savings
        7. Insured Money Fund
        8. Certificates of Deposit (CDs)
        9. Individual Retirement Account (IRAs)
      3. Debit Cards
      4. Safe Deposit Boxes
    2. Personal Borrowing
      1. Home Loans
      2. Personal Loans
      3. Auto Loans
      4. ScoreCard Rewards Credit Card
    3. Account Tools & Resources
      1. Personal Financial Insights
      2. Personal Financial Calculators
      3. ID Protection
      4. Access Line
      5. Reorder Checks
      6. Report Lost/Stolen Card
      7. Download a Switch Kit
  2. Business

    1. Business Banking
      1. Business Checking
        1. Business Checking Account Comparison
        2. Free Business Checking
        3. Business Select Checking
        4. Business Analysis Checking
        5. Business Interest Checking
        6. Business Prime Advantage
        7. Insured Money Fund
        8. Workplace Advantage Checking (For Your Employees)
      2. Business Savings
        1. Business Savings Accounts
        2. Simplified Employee Pension (SEP) Account
        3. Business Advantage Money Market
      3. Business Mobile Banking
      4. Business Debit Cards
      5. Treasury Management
        1. Treasury Management Services
      6. Merchant Services
    2.  Business Borrowing
      1. Small Business Loans
      2. Commercial Loans
      3. Commercial Real Estate Loans
      4. Credit Cards
    3. Account Tools & Resources
      1. Business Financial Insights
    4. Business Financial Calculators
      1. Capital Calculator
      2. Cash Flow Calculator
      3. Commercial Loan Calculator
      4. Debt Service Calculator
      5. Ratios Calculator
  3. Digital Banking

    1. Personal Digital Banking
      1. Mobile Banking
      2. Mobile Deposit
      3. Internet Banking
      4. Internet Bill Pay
      5. Zelle
      6. eStatements
      7. Mobile Wallet
      8. Make a Loan Payment
    2. Business Digital Banking
      1. Mobile Banking
      2. Treasury Management Internet Banking
      3. Business Express Deposit
  4. Home Loans

    1. Home Loan Options
      1. Apply For A Home Loan
    2. Meet Our Mortgage Team
      1. Scott Pride
      2. Charlotte Loines
      3. Alana Beaugez
      4. Derona Wilson
      5. Blake Bendall
    3. Mortgage Tools & Resources
      1. Home Loan Insights
      2. Home Loan Toolkit
      3. Home Loan Glossary & FAQ
      4. Loan Calculator
      5. NMLS Registry
  5. Financial Services

    1. Insurance
    2. Personal Investments
      1. Meet Our Team
  6. About Us

    1. Our Story & History
    2. Locations & Hours
      1. Adamsville
      2. Ardmore
      3. Birmingham Doug Baker
      4. Birmingham Shades Creek
      5. Bolivar
      6. Cherokee
      7. Clarksdale
      8. Corinth Alcorn Dr
      9. Corinth Harper Rd
      10. Cornersville
      11. Decatur 6th Ave
      12. Decatur Beltline Rd
      13. Eupora
      14. Fayetteville
      15. Florence Downtown
      16. Florence Hough Rd
      17. Greenville Downtown
      18. Greenville Highway 1
      19. Greenwood Downtown
      20. Greenwood Park Ave
      21. Hodges
      22. Hohenwald 
      23. Huntsville Downtown
      24. Huntsville Hampton Cove
      25. Huntsville Perimeter Park
      26. Killen
      27. Lewisburg
      28. Madison
      29. Main Office
      30. Moulton
      31. Murfreesboro Church St
      32. Murfreesboro Cason Lane
      33. Muscle Shoals
      34. North Russellville
      35. Parsons Main St
      36. Phil Campbell
      37. Pike Road
      38. Pulaski
      39. Red Bay
      40. Ripley
      41. Savannah Main St
      42. Russellville Franklin Plaza
      43. Savannah Water St
      44. Scotts Hill
      45. Selmer 
      46. Starkville
      47. Sturgis
      48. Tallassee Gilmer Ave
      49. Tallassee Main St
      50. Town Creek
      51. Tuscaloosa
      52. Tupelo Main St
      53. Walnut
      54. Wetumpka
      55. Whiteville
    3. Contact Us
    4. Career Opportunities
    5. Privacy Notice
    6. Mobile Privacy Policy
    7. Privacy & Security
    8. Terms & Conditions
    9. Disclosures
  7. Education Center

    1. Personal Financial Insights
    2. Business Financial Insights
    3. Home Loan Insights
    4. Home Loan Toolkit
    5. Home Loan Glossary & FAQ
    6. Product Video Demos
    7. Financial Calculators
Go To Top