During freshman year of college, Brian McCaskill let his love for live music get the best of his bank account. Case in point: He bought tickets to see every one of Bob Dylan's appearances in the New York/New Jersey area. "I forgot I wasn't working freshman year," explains the now 21-year-old junior at Rutgers University (New Brunswick, NJ). "I just kept spending  

money

  like I did in high school."

In addition to concert tickets, Brian learned how expensive college could be when he started making weekly visits to the ATM to withdraw cash for pizza, train tickets, movies, parties, and books. By the end of the school year, his bank account had dipped dangerously low; his only hope to make up for overspending was delivering twice as many pizzas that summer.

According to Liz Schloemer, an independent financial advisor based in Philadelphia, PA, a college student trying to pay off a $1,000 credit card bill using minimum payments will pay $383 in interest over 3.9 years, according to a Virginia State University study. "Students don't seem to think about how their spending will affect their lives," explains Schloemer. "There needs to be more focus on the larger picture rather than whatever items are on sale."

Evidently, you need a plan for making the most of your college cash. Here are some tips to get you started on spending smarter.

Study Up On Campus Offerings
First, find out about everything available at your school for free or a small fee, such as computer labs, copy centers, gyms, guest speakers, movie screenings, plays, restaurants, and fast food. Read the student newspaper; it usually includes all upcoming events.

You can save money through on-campus amenities, says Schloemer, while taking advantage of everything your school has to offer. "I had no idea how many programs and shows Rutgers had until I really started looking," explains Monica Barr, a sophomore working part time at Applebee's. "I was amazed at everything I could do without a lot of money."

Set a Budget
Once you get an idea of what's offered in and around your school, set a weekly or monthly budget. During her freshman and sophomore years at Rutgers, current junior Gina Wegschaidler's monthly budget was $120 for food, transportation, and entertainment. "After about a month of living here, I'd learned how much money was enough to keep life interesting without overdoing it," the 20-year-old explains.

But be willing to compromise, if necessary. This year, Gina raised her budget to $200 a month because she lives off-campus and uses her car to drive home about once a week. She says budgeting her money has made her more conscious of how much things cost, and how much she is willing to pay. "Compared to my friends, I have probably saved myself a lot of money with my budget," she adds.

Save Whatever You Can
"It's a good idea to add an extra few dollars to your minimum budget," explains Schloemer, "so when you come under budget you can set aside the extra cash for something special, like a spring break trip." By saving early, you'll have money for birthday or holiday gifts, or something special for yourself. Even $5 a week will add up to about $100 extra by the end of a semester.

Pare Down Your Shopping
Just because the girl down the hall bought a new pair of jeans or the guy next door has the most expensive iPod doesn't mean you need to run out and buy them for yourself. Gina's solution: wish lists. "I am always tempted to shop online when I get bored, so I create wish lists instead to see how much I really want something." If you can afford to shop, work it into your budget. Just beware of impulse shopping, which can wear down your bank account.

Economize
Once you're settled at school, it's time to economize. That can mean something as simple as buying in bulk with friends.

"I'd go with my friends and roommates to the store, and we would buy together so we could make meals," explains Brian. Not only was it less expensive, it was also a bonding experience.

Pick and Choose Special Activities
If you have a soft spot for concerts or sporting events, try to set a limit. Ever since he nearly went broke buying Bob Dylan tickets, Brian says he looks at the venue and transportation costs involved before he heads to the ticket office. "I couldn't let Dylan's tour rule my bank account, so I decided it was more responsible to go to one out of his five area appearances instead of all five."

Grab Those Student Discounts
Need a break? Look to restaurants, museums, trains, and bus lines that offer reduced fares for those with a student ID card. Banks even offer student accounts that come with benefits like free checking and no-fee ATMs. Getting a student discount can help save a few dollars a day, while still providing the same services.

"Learning to manage money in college makes it easier to keep track once you graduate and get a full-time job," explains Schloemer. This way, overspending will never be something to worry about--in college and beyond.

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