When you’re in college, the narrative is all about being the broke college student. However, this doesn’t have to be your reality. If you work hard, prioritize your time and manage your money well, you can enjoy the collegiate experience without being the perpetual broke one. Consider the following tips to help you set financial goals.

Create an Emergency Fund

Emergency situations tend to be a part of life. As the saying goes, when it rains, it pours. Since you know it is eventually going to rain, get a financial umbrella. This means that you need to set aside an emergency fund. As you are working toward your financial goals you don’t want to get derailed because of an emergency. This is why it’s best to work to fill up a separate bank account with at least $1,000. This could cover a plane ticket if you have a funeral you need to fly back home to attend. It could also cover repairs on a car if it breaks down or a new HVAC system if yours breaks down. Having an emergency fund is essential for any responsible budgeting individual.

Determine What Your Expenses Are

Take a look at your monthly expenses. Write them all down. Look at the average amount you spend on gas, food and personal expenses each month. Factor in other bills like your phone bill and school fees. As you develop a list of your expenses, you’ll be equipped to create an accurate budget.

Learn How to Create a Budget

Your budget is the key to your financial success. It doesn’t matter how much money you make. If you don’t manage it wisely, you’ll never have enough. Once you factor in how much you need each month, create a line item for each of your expenses. Furthermore, it’s also wise to create a line item for all of your financial goals. If you’d like to maintain stunning nails or save up for that spring break vacation, you’ll want to set aside money in advance. Once you have a plan and execute that plan, you’re unstoppable.

Develop Consistent Income Streams

Become consistent with developing income streams. It’s difficult to manage money you don’t have. Maintain a few side hustles and a part-time job. You can work as a waitress or a freelance writer. In your spare time, you can learn more about how to trade the stock market. There are tons of ways to make great money in your spare time.

There is an element of discipline. There are going to be times when you don’t feel like going to work. You might see a sale on cute clothes you want, but don’t necessarily need. As difficult as it might be, exercise discipline. You’ll get to your goals much faster that way.