Budget
Create a budget and stick to it! This takes discipline and some sacrifice but may help you avoid more painful decisions in the future. Take a realisitic assessment of how much money you have to spend and what you need to spend it on. Do not forget to include items like transportation costs for those weekend trips home and entertainment expenses.
Consider Work Study
Some financial aid packages include work study. Students can work a few hours a week to earn extra spending money for entertainment and other personal expenses. If your award does not include work study, consider contacting your school's placement office, local newspapers and businesses for job leads.
Take a Heavier Course Load
By taking extra classes, you can reduce your time in school, thus reducing your overall costs. In some cases, there is no difference in your tuition cost for additional credit hours over 12 per semester. Summer school may also be an option to help you complete your education more quickly.
Try to "Test Out" of Courses
Ask your advisor about the possibility of testing out of courses that you have concentrated on in high school, such as math, English and foreign languages. If you have prior work experiences, you may be able to test out of courses as well.
Buy Used Books
Whenever possible, buy used books from the bookstore. Look for postings around campus from students who have books to sell. Check the internet for sites that sell used books. Make sure that any used book you buy is the correct edition. You have not saved if the professor changes the book or edition he or she is using from one semester to the next.
Keep Discretionary Expenses to a Minimum
Cut down on those lunches and dinners out. Use email instead of making long distance calls. Go to the matinee instead of the evening show. Make "homemade" pizza instead of ordering out. Ride share or carpool with someone on those weekend trips home. Small savings add up over time.
Watch Out for the Credit Card Trap
Many students are encouraged to apply for multiple credit cards by offers of free t-shirts, movie passes, and other giveaways. Limit yourself to one credit care and use it wisely. Keep your charges to a reasonable amount that can be paid off each month. If you find yourself in heavy credit card debt, contact your local consumer credit counseling agency for help in setting up a reasonable payment plan.
Keep Accurate Records
When you speak to anyone regarding your finances, including your financial aid, write down who you spoke to and what you were told. Make sure you meet any deadline for applications or payment. Keep your records in a folder or file so you know where to find them.