As students being able to budget becomes a very useful skill. The best way to avoid such this yourself is to have a clear monthly, and weekly budget, and stick to it- work out how much you have to spend each month, considering any grants, or bursaries you may be entitled to from your home or host university.

This calculator is designed to give a reasonable monthly representation of a college student's finances. This is usually run by the student just before the phone call home to say "More money please..."?

Gross Income (monthly average)
Monthly Deductions
Taxes (Federal, Provincial, etc.)
Savings Plan (RRSP, TFSA)
Other (medical, dental, etc.)
Total Monthly Deductions
Net (Gross less Deductions)
Personal Savings (pay yourself first)
Housing Costs (rent, mortgage, residence, maintenance)
Utilities (heat, hydro/power)
Personal Maintenance (laundry, toiletries)
Public Transportation (bus, subway)
Auto Expense (gas, insurance, license)
Food (groceries, dining out)
Textbooks, Periodicals, Online Services
Entertainment (TV, movies, CD's, vacation)
Debt Repayment (credit card, school)
Other Expenses
Total Expenses
Net Income minus all Expenses