I am in college and going to be working part-time. What do you think of my saving/budgeting plan? good or bad?

A good budgeting plan should suit the person it's intended for, if that budget is how you want to work with the money you earn then its a good budget. It might not suit everyone but if it suits you and your needs then you have nothing to worry about. After a few weeks/months of sticking to that you may find that you've missed something out or your not leaving yourself enough spending money, being at college your going to be going out more with new friends, you'll realise you need to pay for a college trip or you have a big birthday bash thats gonna cost you a fair whack so i would maybe looking at decreasing the ferret fund and increasing or putting a bit extra aside for anything that pops up. You should enjoy college life and worry less about moving out and just have fun. You'll never be able to be so carefree again so enjoy it whilst you have it.