by Elaine Sihera

Created on: November 30, 2009   Last Updated: December 02, 2009

Many students who are not used to looking after themselves financially at home tend to flounder in the first few months of college until they learn the ropes. During that time, while they are learning to adapt to college life, they are likely to spend more than they intend and, if they do not have a well paid part time job, they would be at the mercy of their parents, their grants, their relatives or their own imaginative resources. However, there are a number of ways students can make their funds go farther, by spending less and saving more, with a little bit of foresight and ingenuity.

Below are 7 very useful ideas for saving money in college which focus on the common, routine elements of any student's everyday life and which shouldn't take too much effort to implement.

1. Accommodation and Travel

a. Learn to switch off lights except for what you are using. Just that habit can save you lots of money because electricity costs. Don't have too many showers either, one per day or even every other day is quite fine. If you have an electric cooker, always turn off hobs about 5 minutes before you finish cooking because they will still be running for a while.

b. In colder weather, you can even insulate your windows and draughty places with plastic. That should keep you warmer and lessen the heating bills too.

c. Try to get a place close to campus which will save you money on travelling and try to walk, bicycle or roller blade when you go anywhere. Not only are they cheaper ways to get you there but they are very good for exercising and keeping you fit.

d. Get a student travel discount card as it usually has travel packages that include accommodation, food and transportation.

2. Money Matters

a. Make sure you get a free checking and savings account and you keep it in the black because you will be charged much more for every transaction that you have if you go into the red. You will also have to pay for too many withdrawals or funds transfers (even transferring funds from your savings to your checking account will cost you money!). So try not to be too trigger happy with the checks and you will avoid unnecessary fees!

b. Keep track of all your transactions because overdraft fees cost money. Your card won't be declined if you run out of money, it will simply rack up bank charges which can go to hundreds of dollars in a year! By staying within your bank limits you dramatically reduce the fees.

c. If you need a credit card, try one with the lowest interest rate, that

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