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College students understand the need to be frugal. When you’re dishing out money on tuition, textbooks, and daily living expenses – it can be difficult to make smart money decisions. Learn how to spend money wisely in college with these 15 realistic tips!

1. Create a monthly budget.

If you want to maintain a healthy relationship with money, you need to create a monthly budget. A budget will lay out all of your estimated income and expenses for the month. The goal is to always have more money coming in than going out.

A budget will help you identify what are needs, like laundry or gas money, and what are wants – like a cute outfit or eating at Taco Bell. Seeing exactly how much money you have to work with each month helps you set enough aside to pay your bills. Then you can evaluate what’s left over and prioritize your ‘wants.’

Download our free monthly budget template here.

2. Start thinking about student loan repayment now.

Student loan debt continues to increase in the U.S. While this may seem overwhelming to tackle while you’re in school – you do need to take steps to mitigate the amount of debt you’ll have to repay later on.

Visit your financial aid office and ask them questions about how to get the most aid at your school.

Make sure you or your parent is filling out the FASFA for every single year you’ll be in school.

Also, try to make room in your budget to pay off the interest on your student loans before repayment starts. Even though you aren’t required to start official payments until after graduation, those loans are still collecting interest each year you are in school. Making payments just on the interest will help keep the total amounts more manageable after graduation.

3. Set up your own checking account with a mobile app.

If you don’t already have a checking account, set one up immediately. Look for a bank or credit union that will be convenient for you and has a mobile banking app. This app will help you track your account balance to ensure you never get charged an unnecessary fee.

4. Always ask about a student discount.

So many places offer discounts if you are a college student! Don’t forget to always ask if there’s a discount available. This list from SimpleDollar details 60 discounts – but there are hundreds more available at the regional and local level.

Some of our favorites on their list include:

• 15% off when you shop in-store at J.Crew
• 5% off your Apple purchase
• 10% off Amtrak tickets
• 20% off Allstate insurance with proof of good grades
• 50% off Amazon’s Prime service

5. Buy used when you can.

Need dishes? A textbook? An interview suit? Whatever you may need, it’s likely you can find it used. This is one of the best ways to save money while in school. There are so many resources you can use to find used items! Try your local thrift store or Plato’s Closet. Or go online to sites like Craigslist and Facebook Marketplace. There are also dedicated mobile apps like LetGo or OfferUp.

6. Don’t apply for multiple credit cards.

While credit cards are a valuable tool to make large purchases and improve your credit score, it takes serious planning and impulse-control to make that happen.

Try not to open more than one or two credit cards while in school. Also, make sure you always may on-time payments! Late fees can quickly become overwhelming on top of interest and the base balance amount. Try to never use more than 30% of the total credit limit at any given time.

If you are using your credit card to make purchases you know you cannot pay back at the end of the month – stop using the card! Switch to using your debit card or cash to hold yourself accountable.

7. Never make a late payment.

These count towards every bill, not just your credit card. Your budget should include due dates for each of your bills. Make a note on your calendar and/or set an alarm when the bill is due. Better yet, set up automatic bill payments to come out of your checking account each month.

8. Learn to cook.

Eating out is expensive, even if it’s just fast food. One of the best ways to save money is to learn to cook. You can then buy groceries and cook at home instead of hitting up McDonald’s on your way to class every day. Just make sure you never visit the grocery store hungry!

9. Search for free entertainment options.

Just because you’re on a budget doesn’t mean you can’t have fun. You just have to do your research! Look for free festivals and events happening near you. Go for walks or hikes near your school. Your student activities office will constantly be putting on free and cheap events for the campus. Take advantage of that resource.

10. Try to avoid buying a car.

Cars can eat up a large portion of your budget. Even if it’s already paid off, you will still need to budget for gas and maintenance. While in school, try to avoid buying a car if you have alternative options. Is there public transportation nearby? Is your dorm or apartment within walking distance of classes? The less money you spend on transportation the more money you’ll have to spend on your wants.

11. Consider an alternative spring break.

With traditional spring break vacations averaging between $1,000-$2,000, you may want to consider a more affordable option. Alternative spring break programs are becoming more popular with students who want a rewarding experience and/or need a more affordable trip.

Start researching what Spring Break options you have besides the beach. These programs often focus on volunteer efforts and provide food and lodging in the total cost.

12. Wait to get a pet until you are out of school.

This report says that the cost of owning a dog or cat in the first year is above $1,000! Can you afford to fit the cost of veterinary care, food, and other items into your college budget?

Consider waiting until after graduation to get your first animal. If you love animals, you could volunteer at a local shelter to get your puppy fix.

13. Place spending caps on a night out.

When you’re having fun, it can be easy to lose track of how much money you’re spending. Prepare beforehand by creating a maximum spending limit. Try bringing a set amount of cash with you and only use your debit card as backup. Setting predetermined limits can prevent you from doing too much damage on your bank account in one night.

14. Try psychological savings tricks.

One of the best ways to spend money wisely in school is to trick yourself into spending less! We wrote an entire article with 11 hacks you can use to trick your brain into saving more money. Here are a couple of our favorites:

• Put a 30-day (or even just a 24 hour) hold on purchases. If you find something you really want, wait to buy it until after that hold period. This will drastically decrease impulse buys.
• Don’t cache your card information on the internet. It makes it much too easy to hit buy in the online checkout if you have to get up to find your card and enter the info.

15. Get a job to afford your expenses.

If you have the time, getting even just a part-time job will greatly help your financial situation while in school. This income can go towards necessary expenses like textbooks, rent, and toiletries so you don’t have to take out a loan to cover these needs in addition to tuition.

If you aren’t sure if what to do to bring in income, here are 23 ideas on how to make more money.

Your student loans make a bigger impact than you think.

These 15 money tips are a great place to start, but you should really be focusing in on your student loan options! The type of loan you get, where you get it, its repayment terms, and the interest rate can dramatically impact your finances now and in the future.

Get all the information you need to know about paying for college in our free guide. Download the student loan guide now!