start your budgeting early

If you are still studying and think there is no need for you to plan your budget and believe the responsibility of planning the finances rest solely with your parents, then you need to reconsider! A few mistake you commit during these critical years might trouble you for the rest of your life.
you should be able to make a budget now even though your payments for your college or school made by your parents. you can set aside all the luxuries life having an expensive car, clothes or stylish mobile or laptop. This will help you in the long run.
The right time to formulate a budget plan would be when you are still in college. step one would be setting up a budget. Firstly you will have to calculate your monthly income that is the amount you take hone once you land a new job. secondly you will have to calculate your primary expenses which include compulsory payments and which is not liable to vary.This will include your rent,EMI payments towards car loan, electricity bill. Next step would be to calculate your other expenses like groceries,clothes and other miscellaneous expenditure. This tend to vary and these expenses are within your control. you will get better and better at managing them once you develop the habit of comparing your expenses month on month.
you must learn to control your expenses according to your income. The extra money also could go to your savings. if you are unable to match your expenses you should find ways and means to bring about variation in your primary expenses. for example you can move into a home with lesser rent. The most important thing is to develop a habit of tracking your expenses. it is better to spend some time everyday rather than sit at the end of the month to find that you donot have any money left. The periodical watch also helps you to adjust your cash flows accordingly