by Kassandra Sawyer

Created on: July 14, 2009   Last Updated: July 25, 2009

These days, college students are struggling more than ever to keep up with college expenses. The job market and economy are against us, but we can fight back with careful planning and saving. The key to keeping your wallet full this semester is being smart with what money you have:

1.) Careful saving-

Let's face it, adults expect teens to throw away money as soon as they get it. Prove them wrong. Try to put away at least half of every paycheck. It may seem hard at first but this money adds up quickly. This also might mean cutting out some unnecessary expenses. Maybe that means staying in one Friday night a month or not buying that designer dress. Take that money and put it away. You'd be surprised by how much extra cash you have at the end of the month.

Another good tactic to try is saving your spare change. College kids are always looking for quarters for laundry or the vending machine. If you put all your spare change in a cup for a month you'd be surprised at how fast it adds up.

2.) Careful Planning-

There are going to be some big expenses you'll need to cover. If you are paying your meal plan or tuition you need to work out with your school a payment schedule. Then you have to figure out how much you need to put away each week in order to pay these bills promptly. Whatever you do, don't let them add up because being behind on payments can become overwhelming.

If you feel the need to have a credit card, be sure you are responsible with it. This means not charging large screen TVs and other things you won't be able to pay back at the end of the month. Be careful because the bad credit you could start now can follow you for a long time after college. Be smart about your use of the card and start building good credit.

3.) Careful Spending-

Your grandma isn't the only one who clips coupons. It may seem silly, but taking advantage of things like that can save enough to pay for a night out. Check the local newspapers and online before doing your grocery shopping for the week. Another thing to consider is shopping around when buying big items in order to insure you're getting the best deal possible. Also be sure to check around campus for free events that are happening. Your college might be hosting a concert for students. These events are a good way to have fun without thinning your wallet. You worked hard to earn the money so you want to get the most you can out of it.

Following these tips will help students manage their money during these tough economic times. College is about learning to be responsible, and being responsible with your money can lead to a less stressful and fun semester.

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