It's going to happen! An emergency or event will come up and you won't have the money to pay for it. Your laptop needs repairs - something has happened at home and you need to travel on super short notice - or you get caught speeding and get a nice little fine. Some emergencies are avoidable - some are not. They're still going to happen.
The best way to turn emergencies into little inconveniences is to have an Emergency Fund so you can take care of it. As a student, you don't need $2,000 or $5,000 in your EF - an amount closer to $300-500 should be sufficient to start. Save up $50 or $75 per paycheque, if you have a job - or put away money received as gifts - or take part of your 'allowance' if you're already away at school to seed the fund the first time.
Once you have the money saved, put it somewhere where you can't get to it instantly - but could get to it with a days notice or so. Give it to a trustworthy adult to hold - put it in a savings account which is NOT linked to any bank cards. Put it somewhere - but not in the back of the sock drawer - partying with your friends is NOT an emergency!!
Having even a small Emergency Fund to help take care of those 'situations' which are bound to pop up will take away a lot of money worries.
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