My management Problem

Main management problem that I'm having is time management. The courses I'm taking this semester requires me to put more time into studying rather than socializing compare to other semesters. It is not just the studying that takes time away from me, it is also the readings that comes with the classes. Most of them require reading at least two newspapers and watching financial news all the time and get my informations up to date.This already caused me to bail out on my friends several times this month. I am worried about distancing myself from my friends due to these choices I made. Sacrificing one over the other was due to my failure to manage my time right never happened until now.