As a first year, one of the biggest changes for many students is the transition to managing their budget and money matters without parental assistance. Whether you are working a campus job, receiving a stipend from the college or get a monthly allowance from you parents, you still need to find a way to make your money last through the year - and pick up at least some of the things you actually need for class (don't wait until the midterm to buy your textbooks!) While managing a budget might seem like a daunting task, the CNN instant budget maker can give you a hand with the process.

The CNN instant budget maker allows you to enter your income per week, month or year (you can use a rough estimate if you get a variable allowance or work odd jobs) and then set an amount to spend in a number of major categories including food and entertainment. Start spending more than you're earning and it'll let you know!

One of the most interesting features of the budgeting tool is that it shows you what others of a comparable age group and income bracket are spending their money on. You can see if you food costs are through the roof compared to the normal 18-24 year-olds, or if what you spend on transportation is what's throwing your budget out of balance.

It's incredibly important to learn early how to manage a budget and not put yourself in a situation where you will be trapped in massive credit card debt or ruin your credit score. Using the CNN instant budget maker can help you figure out how to make your money last.