Brought to you by: Breez DeGuzman

For college students who live on campus in a dorm, life may be relatively easy. However, many students choose to live off campus and this often increases expenses considerably. Wherever you live, here are some smart great tips to live frugally and still have fun:

* Living off campus means you need a way to get to class. Find a good, reliable used car. It will cost less initially and you may be able to purchase it outright. If that’s the case, you can get by with paying for insurance, maintenance, and fuel. If you choose to live on campus, you may not need transportation at all.

* Use the public library rather than purchasing books you’d like to read. This can easily save you hundreds of dollars a year, particularly if you’re a voracious reader. Many libraries also offer movies on DVD, which means you can save on movie rental charges.

* Share an off-campus apartment with friends. This will cut down on the total amount you’ll each pay when you split the cost evenly. The more people you can have comfortably living in one apartment, the less each of you will pay.

* Eating on campus is going to be cheaper than nearly anything else you can do. This is also going to be true for non-residents and non-students alike. If you’re tired of cafeteria fare, buy food at a grocery store rather than eating out. Sure, it may take you longer to get your food when you have to cook it yourself but there are so many things you can make that cost less than at a restaurant.

* If you do go out to eat, choose water rather than getting a soft drink. You can often save $1.50 or more per meal by drinking water. If you eat out four times a month, that’s $6.00 you’ll have saved, which may be enough for another meal.

* Buy and make your own coffee rather than stopping at a pricey coffee shop. Maybe your coffee won’t be as fancy, but it won’t cost $8.00 for a single cup either.

* Clothing is a necessity no matter where you live when attending college. Go to consignment stores or swap clothes with friends. Finally, be sure to either hang items of clothing you’re going to wear again or place them in a basket to be laundered. Leaving clothes on the floor could damage them which means you’ll have to replace them sooner.

* Hit sales as much as possible. This can be for food, clothing, furnishings, or whatever. If you can get it on sale you can use the money you saved for something else.

* Go to the matinee showing of the movie you want to see rather than going when you’ll pay regular price.

* Use your student ID where they offer student discounts. You may be able to save 10% or more for items you need, so why not take advantage of it?

* Purchase used text books rather than brand new ones. This could save you considerably when you add all the books you’ll need together.

Remember, when thinking of ways for college students to live frugally and still have fun, it’s a trade off. Decide what’s most important to you and then budget your money accordingly. You don’t have to forgo having a night out with friends if you save up for it by cutting back on money spent elsewhere.

Brought to you by: Breez DeGuzman

Tracking expenses can be challenging at every stage in life, but in college it gets more complicated. First of all, for most college students this is the first time away from home and living independently. Secondly, college itself involves all sorts of expenses that can take you by surprise.

It’s not just books and tuition – food, drinks, clothes, and all those other things that were just “there” at your parents’ house suddenly need to be purchased. Here are some easy ways to keep track of those expenses so you don’t find yourself running out of funds.

1. Search the internet
There are quite a few online resources that can help you track your expenses. Do a search and find one that fits your needs and personality. Since this is a paperless method, everything can be stored on your computer’s hard drive or portable data carrier, and you won’t have to shuffle papers around.

2. Check with your bank
If your bank offers online banking, sign up. This is a great way to see your transactions in an organized way – and you don’t even have to organize them! With online banking, you can check your balance any time you have access to the internet (which is pretty much always these days), and see exactly how much money you have available and how much you have spent.

3. Computer software
The spreadsheet is still a very popular way to track expenses. Inexpensive computer software can be purchased, or often downloaded for free, to help with budgeting. If all you need is a simple spreadsheet format, your computer probably already has such software installed.

4. Old-fashioned paper
Some people just like things on paper – and if that’s what works for you, do it. It can be more hassle than it’s worth to try and conform to a budgeting style that doesn’t fit your personality. You can use a blank checkbook ledger – it’s basically a portable, paper spreadsheet. There are many ledgers to be found in office supply stores as well.

5. Paper files still have a place
There is no such thing as going completely paperless if you save receipts and other paper evidence of expenses. For these, use file folders or an accordion file with categories to stash your paper expense trail.

Whatever method or methods you choose, the important thing is to keep track of your expenses. You will have a more rewarding college experience and a better future if you do.