If you're looking for ways to stretch your dollar to the max, learn some secrets from the stash-savvy.

Power To The Penny-Pincher!
By Rochelle DelGaizo Billera
November 2001

The CollegeBound Network NewsClick -- It's amazing how those of us who once wore only designer clothes and basketball star-endorsed sneakers find ourselves shopping in bargain stores and wearing last season's styles. Sound unlikely? Perhaps. Then again, you're not a college student who's trying to save his or her pennies to help get through school yet!

Even if mom and dad are footing the bill, there are other expenses like food, transportation, books, and entertainment, which will surely fall on your shoulders. Making sure you have enough money to cover such costs without putting yourself in debt is key to surviving the college cash crunch, money experts agree.

"Undertstand what your expenses and income are, and [work toward] an even balance," says Mike Frantz, dean of enrollment services at Wilkes University, Wilkes Barre, PA.

He adds that putting yourself on a budget will help place money issues in their proper perspective. "Make sure there is a surplus in balance, and use credit cards for emergencies and other purposes within the confines of your budget," says Frantz.

But what about when the money's just not there?

"If you have trouble making your expenses equal your income, take another look at your expense records to see where some [spending] cuts can be curbed," says Ray Grubbs, professor of management at Millsap College, Jackson, MI.

Grubbs agrees that keeping detailed expense reports is often the first step toward financial control (and some extra dough in your pocket!) However he warns, "Don't expect everything to instantly fall into place. It takes time and patience to set up a workable budget."

Money management and budgeting advice can often come to students through working a part-time job. Not only can it help by bringing much-needed capital, it can also affect your academic success, say financial and business experts.

"All of the research suggests [that] students with part-time jobs get better grades than those who don't work," says Helen Nunn, director of fniancial aid at Susquehanna University, Selinsgrove, PA.

"Moderation is the key," Nunn stresses. "For most students, working 10 to 12 hours a week is a positive addition to their schedules. Instead of being detrimental, it forces students to budget their time better [in addition to the financial factor]."

Spending is okay, as long as you do so smartly and with caution.