One of the things that has been mentioned several times on this blog, and will continue to be mentioned is the need for students to use budgets to assist them in their daily lives. What better way to know how much one can spend and live within their means than a budget? But how do they look? And aren't they hard?
No they aren't. Here is a link to an interactive budget calculator tool. It is available from the Mapping Your Future website which is very good for helping students form an objective manner on everything from repayment to financial literacy. In this case, they are assisting with living within your means.
If you don't already have a budget or understand how it works, use this tool and do some reading into how it works. Faculty at your campus will also be willing to assist you with understanding budgets. In the meantime, use this tool to figure out your budget.
Remember: the main reason why a budget is especially necessary for a student is so that you know how you can afford your student loan payments.