by Brian Keith Compton

Created on: September 01, 2009   Last Updated: September 06, 2009

The first lesson for any college student is how to economize. Parents who have learned to ration can teach their kids how to handle their own money and have a leg up. If kids are taught the value of a buck, they will be prepared to manage their own money once their dorm daze begins.

Before that quest for a higher degree, having a job and earning money to pay for desired things is a good start to understanding how to save and spend. Hopefully, this will help ease the transition into the college years, when the focus needs to be on study rather than figuring out how to budget for basic necessities.

And a budget is where it all begins. Giving some thought to what is needed to get through the school year and tallying up all the costs helps determine how much money to mete out weekly for living expenses. A student won't unexpectedly run out of money or be tempted into overspending or wasting money on the unnecessary.

So, where is that money going to be spent? You hit you nearest Walmart or other store that carries stuff in big quantities. Planning ahead is essential here. Buying things in bulk saves money. Toiletries and nonperishable items, for instance, can be stored year long. You save yourself trips to the store if you stock up on stuff you can stow away and take out as needed.

When you shop, set aside a day when you are not bogged down by studies. if it's groceries, get yourself set up for seven days with your basic, healthy foods. Bananas are the least expensive fruit. You can buy carrots to munch on. Ramen noodles and rice are cheap and easy to prepare. You can buy spiral noodles and make pasta salad, dicing some veggies and adding oil and vinegar to mix up.

You'll be amazed at the deals you can find at a dollar store. Cleaning supplies, toiletries and some basic foods adorn those shelves. If you're a comparison shopper, you'll find bargains on things like shower shop, salad dressing or glass cleaner. It's a great place to spot shop when you're in a pinch for just about anything.

When you are socializing, there becomes the temptation to eat out. You can save money doing this if you look for coupons online, in the Yellow Pages or in student or local newspapers. If you are ordering in, you can split the cost on food like pizza with a roommate. When you're roaming about campus, it's better to avoid vending machines. Keep granola or power bars in your backpack to sate your hunger and energy needs.

Watch what you spend. Some people might advise not to use credit, bur rather cash. But money in your wallet tends to liquidate much faster because it is not trackable, especially if you don't keep receipts. If you know how much money you plan to spend each week, just keep your receipts and watch your bank account.

Taking the guesswork out of expenses for the frugal student is key. Budget your money and live within your means to economize your way through college.

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