More times than not, money and college students form a dangerous combination.

When struggling to fight late-night munchies, shopping or going out with friends, students often find their wallets empty and have hardly anything to show for it.

With tuition on the rise every year, it gets more difficult to have money left over to pay for other expenses.

The best way to save as much as possible is to put whatever amount is left over after paying for tuition and fees in a savings account, preferably one back home so that it is not as accessible as if it were in the bank down the street. Don’t worry about investing money in stocks and bonds just yet; instead, just focus on building up a savings account.

The next step is to create a budget. List what fixed expenses you have such as tuition and list variable expenses such as entertainment. If you fall short on money based on your budget, nip some off the variable expenses or find a part-time job. Never take out a loan or cash in car titles for quick cash.

Credit cards are volatile in a student’s financial situation. Cut up all credit cards if possible. If parents would be at ease knowing their child has an emergency credit card, keep one, but no more than one. Be sure to hide it in the wallet behind other ID cards so that the credit card isn’t staring you in the face every time you pay for something.

“If you can eat it, drink it or wear it, do not put it on a credit card,” said Bobbie McClain, director of Student Financial Assistance.

A major way to save money is to go the bargain route. Power shoppers know that bargain stores are a gold mine when looking for a quick fix to that shopping urge. “Students need to understand the difference between a want and a need. If you need to shop, look for sales and remember that shopping on the Internet can be cheaper than buying the item in the store,” said McClain.

McClain is teaching a course for the spring 2004 semester called Finance 260: Personal Finance and Planning. This course will deal with budget planning, credit card management and information on how a college student can manage money.

The ultimate secret to managing money is sometimes easier said than done: spend less than is earned. Small cuts in spending will help drastically. Tahira Hira, a professor of personal finance and consumer economics at Iowa State University, has devoted many years to studying the source of people’s money problems. She offers several tips to help people save money, but her big tip is to buy used. “You can potentially cut [your budget] in half by shopping at consignment shops and auctions, though the life of the goods may be less than buying new,” said Hira, as told to Jennifer Mulrean from MSN Money online.

A way to save money and save your life at the same time is to quit or cut back on smoking and drinking. Liquor and cigarettes are expensive little things that add up quickly. A pack here and there quickly becomes a daily routine and a six pack a weekend soon consumes all you have worked hard to save.

The next tip may not apply as much to commuters but can help. Stay at home when possible because gas is not a cheap commodity. At almost $1.50 per gallon, burning up the highways also burns up the money in one’s wallet. If shopping around for a car, try to find one that gets excellent gas mileage. In the meantime, carpool as often as possible. Your wallet and the environment will thank you for it.

While it may seem fun to have a night out with friends, try to stay in once in a while. Going out dancing or out to eat can be a treat for doing well on an exam or surviving the semester but, if done excessively, may prove to eat away your money. Meal plans can offer the same thrill as going out to eat but can be expensive in itself. If taking the grocery shopping route, try to get as much at stores such as Save-A-Lot before heading to Wal-Mart or E.W. James.

Spare change adds up. Ask any homeless person; they will tell you it is easier to ask four people for a quarter than it is to ask one person for a dollar. Find a jar in which to throw your spare change. At the end of the month, take the jar down to the bank and have them count the change for you, then put that money into a savings account. It is amazing how quickly change adds up.

By following these quick and simple tips, saving up for the next semester of classes or post-graduation will be easier than one thought. You have the rest of your life after graduation to live lavishly if you so wish. In the meantime, live at least one notch below your means and put the leftover money into a savings account.