1. Make a budget.

No matter what point you are at in life, you need to know how to make a budget. Learning to budget effectively is a life skill that will stand you in good stead. Remember to include all of your expenses, to allot some money for unexpected expenses, and to overestimate your expenses rather than underestimate them.

2. Don't eat all your money.

Often, students go away to school from home with no cooking skills whatsoever. There are three possible negative outcomes from this: a) you could subsist solely on wieners and beans and mac and cheese for 8 months a year, b) you could eat out 5 times a week and pay ridiculous amounts, or c) you could attempt to only snack, and end up buying overpriced convenience store junk food every other day. None of these results is healthy for your waist or your budget.

Learning to cook might take a little time, but there are many people who will be pleased to help you. Ask a roommate, a friend, or a relative to show you how to make a certain dish. They will be pleased that you asked and you will gain a life-skill in the process.

Buying groceries from the grocery store once a week might sound like a chore, but it will save you lots of money. The ingredients for a stir-fry will be cheaper (and tastier) than a frozen stir-fry meal: remember, you'll be able to use more of that pepper later on in the week too. If you don't want to cook often, perhaps cook one big meal once a week and then freeze the rest of it (chili, spaghetti sauces, and soups freeze particularly well). Buying ingredients, including lots of fresh fruits and vegetables, at the grocery store will save you lots of money.

3. Make your own coffee or tea.

If you buy a coffee every day you are paying at least $1 a day: you might even be paying more for a gourmet grande latte frappucino. You can make your coffee at home and bring it with you in a portable mug. If you save $1 every day, you will save $30 a month. If you save $4 a day, then you will be saving $120 a month. This money can be better spent elsewhere. Also: if you are making your own coffee or tea at home, remember to be nice to yourself. You can sprinkle cinnamon on your chai, or add honey to your chamomile just as easily at home, so you won't be losing the taste.

4. Find bargain books.

You can't find bargain tuition prices these days. But you can find bargain books. Go to your local used bookstores to see if you can find used books that will be used in your courses (every English major will need a copy of Beowulf: every used bookstore has at least three). Just remember to ask your prof if it important to have a certain translation or edition before you go searching: often, your prof won't care as long as you have the book. If you are looking for math textbooks, which might not be found in your local used bookstore, visit the university bookstore. University bookstores often carry used copy of textbooks from last year. Some universities even have a separate used bookstore/book swap. Another way to save money on books is to get them online. You can find some books on www.ebay.com; www.amazon.com has new books (which are often discounted and come with free shipping if you buy enough) and old books; the best site for finding every book, new and used, is www.alibris.com. Be sure to remember that you will most likely have to pay shipping on books you order online, so don't underestimate your purchase costs.

5. Outfit yourself for success.

Rather than buying all of your new clothes at J. Crew, American Eagle, and Brooks Brothers, consider browsing some local thrift or vintage clothing stores. These stores often have brand name clothes on their racks: it just takes a bit more looking power. Also, finding deals at these stores gives you a personal sense of satisfaction. Remember: you don't have to have new clothes all the time either. You simply need clean clothes that are presentable for class.

If you want clothes that are new and different for you, organize a clothing swap with friends. Four or more people will make a clothing swap ideal. Everyone brings all the clothes that they no longer wear, and everyone takes turns trying on these clothes. You might find some great clothes this way! The clothes that nobody wants can be donated to charity at the end, which is also a great way to clean your closet.

6. Water down your bar tabs.

Yay! You're finally at college or university! The best thing to do is to immediately get drunk, right? Wrong. Many people party away their university funds before they know it. An easy way to save money is to simply not drink. If this isn't a reasonable suggestion, there are other ways to keep your bar tab down too. Drink before you go out: buying vodka from the liquor store and orange juice from the grocery store is much cheaper than buying screwdrivers at the bar. You can always order a soft drink when you get to the bar. If you must drink while you're out, share with friends: getting a pitcher for the four of you will be cheaper than each of you getting pints. You can also sometimes get pitchers of other drinks (like margaritas) which are more expensive than beer, but less expensive than a round of margaritas. And, if you must drink while you're out, pay for each drink as you go. Rather than allowing a server to rack you up a bill that gets out of control before you know it, pay for each drink when you order it to ensure that you don't drink more than the money in your wallet. Which brings me to my last tip: only bring cash on you when you go out, and don't drink more than that specified amount. Remember to have an emergency $20 on you (kept separate from your party money, perhaps in a different pocket, or a different part of your wallet) in case you need to get a cab home unexpectedly. Plan ahead to have a designated driver, to stay at a friend's overnight, or to take public transit home (bus, subway, etc), which will help you avoid costly cab fares.

7. Live the Student Life.

Do you need to go to the $25-a-plate posh restaurant? Probably not. Can you find somewhere to eat where you could enjoy a (probably more filling) $10 or $12 a plate meal? Are there all-you-can eat buffets around? Does some place offer free refills on bread or salads? You don't have to eat at fast food restaurants all the time as a student—as we covered above, you shouldn't be eating out too much to begin with. So pick a family restaurant, or a pizza or Chinese food place where you will get the most for your money.

Consider buying store brand or no-name products rather than the more expensive brand names. They're often just as good for less money. Buy things in bulk which you will use (like toilet paper), but don't buy things in bulk which will never get used up (like window cleaner).

8. Love the Dollar Store.

That's right: the dollar store. Do you need light bulbs, or pencil crayons, or socks? Often the dollar store has items that will amaze you. But remember, occasionally other stores have better deals than the dollar store. It is smarter to buy 50 blank cds for $25 from the computer store than to buy then for a dollar each at the dollar store. Cleaning supplies, school supplies, and present toppers (like ribbons, wrapping paper, candles, and ornaments) are often best found at the dollar store. The dollar store also has many random household items that you might need: hangers, coin rollers, and gardening tools. Check out the dollar store before you head to the hardware store, drugstore, or department store.

9. Earn more money.

To save money, first you have to earn it. See if there is a program where students can work part-time on your campus. You might even end up getting experience in your field! You can also take up a part time job tutoring kids from local high schools in subjects that you have mastered. Be sure to apply for many scholarships, as well. The time you put into the applications could be well worth the investment.

Have a great time at school, and remember to make that time even more enjoyable by alleviating as much money-related stress as you can.

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