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Being a college student used to mean eating three packs of ramen noodles a day and biking around campus because gassing up your 1985 Chevy was too expensive. Whether you work a part-time job or get an allowance from your parents, you can learn some key concepts to saving and spending wisely — now and after college.

Smart Spending
There are plenty of ways to save a few bucks every day. Dr. Dick Verrone, personal-finance professor for the Cameron School of Business at the University of North Carolina, Wilmington, has these penny-pinching tips:

• Order water. Don’t get soft drinks when you’re eating out. Why pay $2 for 150 soda calories? Also, Verrone says, “Never order orange juice.” OJ is extremely overpriced at restaurants, and most of the time it’s from concentrate.
• Limit your pocket cash. When going out on the town, take a 20-spot, and leave your cards at home. You’ll be forced to keep your tab under $20.
• Buy quality clothing items. They may be a little more expensive, but they’ll last longer. Verrone also definitely approves of outlet shopping. But before making purchases, think: Do I need this? If not, don’t buy it!
• Switch your prescriptions. Change your name-brand medications to generic ones. You can usually save about $20 per med this way.

Clipping “Coups”
OK, most college students don’t have easy access to a daily paper or coupon flyer, so how do you save with coupons and special discounts?

• Look online. If you’re going to the sporting-goods store, for example, type the name of the store into the search engine, along with the words coupon codes. Lots of websites track down discount codes for online shopping, as well as printable coupons for buying items in-store.
• Sign up for discount alerts via text. Some campuses have local text-message discount services — check at your student center or information desk. (Of course, this is not a good idea if you don’t have an unlimited cell-phone plan.) Mike Meyer, a UNCW senior, is signed up for deals in North Carolina at CouponstoYourPhone.com. “Every Monday, I get a coupon-text for one of my favorite restaurants,” he says. “It’s awesome.”
• Purchase a coupon book. These books pack hundreds of coupons, usually for buy-one-get-one-free offers. They’re worth the $25 (if you buy one from a campus organization’s fund-raiser) or even $35 (available online at Entertainment.com) after just a few uses.

Long-term Saving
Verrone recommends getting into the habit of saving now to set yourself up for an easier financial situation after graduation. “Make the amount small enough so you can do it,” he says, such as saving $5 per week or $10 each month.

• Set up an automatic transfer. Most large banking institutions, such as Bank of America or Wachovia, will let you set up transfers between linked checking and savings accounts. Meyer has $30 a month transferred. “That’s how I saved money for spring break freshman year,” he says.
• Start an individual retirement account. No, you’re not too young! This is the time to do it. “Once you’ve accumulated $200 to $300, open a Roth IRA and continue to fund it every month from your savings,” advises Verrone. Even if you continue to only save that $10 per month, you’ll be accumulating real money for the future.
• Watch your money grow. Let your savings work for you by investing in mutual funds with low expenses and superior performance records, suggests Verrone. Consult a financial adviser at your bank for more information.
• Consider an online banking service. Having an online bank can be a good outlet for putting away large sums of money that you can still access without penalties (unlike with an IRA). Online banks usually provide higher interest rates, although transfers take two to three business days. Meyer has a savings account with INGDirect and loves it: “A two-day transfer is more of a commitment, so I have to really think about it before I make that decision.”

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This article was written by Ocean Gildee for The Real College Guide and is made available to Parents Countdown to College Coach through a partnership with The Real College Guide.

Everybody like freebies. Taking advantage of all the freebies that are given away on campus to college students is a MUST. Teaching your kids to watch for them is all part of being an effective parent college coach.. Why pay for something when it’s available for FREE?

It’s no urban legend: Free stuff is doled out on college campuses all the time. But it’s up to you to scout out where to find these complementary goods. From pizza to plane tickets to straight-up cash, we show you what you can get and how to score it … so keep reading.

Free Entertainment
Get tickets to concerts, sporting events, art exhibits, theater openings, forums and lectures.

How to score: Use your student ID card as an all-access pass. Every campus has a student union building, and if you’re unfamiliar with it, we suggest you become acquainted, since it’s plastered with bulletin boards announcing free upcoming events for students.

Free Food
Get free pizza, soda, snacks or breakfast, depending on the time of day.

How to score: Attend club meetings. “If you look in your student building and sign up for all the listservs, you will know when clubs and residence halls are giving away free food,” says New York University sophomore Doreen Naor. “With breakfast, you can basically always get muffins and coffee, and for real meals, most clubs give out pizza.” Join three clubs that meet weekly, and you’re looking at three regularly scheduled meals.

We also like CampusFood.com, where you can play online games that earn coupons for your next restaurant visit. A few clicks at a mindless computer game, and you can have yourself a free meal. Not too shabby!

Free Cash
Earn hard cash (typically from $5 to $10 for about an hour of your time — could be up to $100). No taxes taken out, no checks.

How to score: Participate in a focus group or study, which typically requires very little effort, such as filling out an easy survey. Head over to the campus psychology building, where you’ll find volunteer recruitment flyers.

Focus group companies pay more for your input. If your school is in a metropolitan area, check out focus group centers in need of college student participants. Go to FindFocusgroups.com to scope out opportunities near you.

Free Swag
Pick up product samples, coupons, gift certificates and other giveaway items, including iTunes cards, DVD players and even airline tickets.

How to score: “All you have to do is open your eyes and pay attention,” says NYU junior Annie Baer. “There are always people giving away free things [on campus].” Marketing companies often hire student reps to hold major promotions that often include giveaways and contests on college campuses. Next time you see a student rep giving out samples, ask if the campaign offers any other giveaways.

Note: You can get updates about sponsored events and contests directly from the source. By becoming a Facebook fan of brands or products you like, you can get automatic updates about big promotions and giveaways, and be the first to know about any contests they might be hosting.

Here’s some great tips to help parents help their college-bound teens save some money when they go off to college. Take notes and start implementing these strategies into their lives BEFORE they leave for college.

Living on a shoestring budget? Whether your parents float you funds or you’re pulling a part-time paying gig, here’s how to stre——-tch every precious penny.

Broke — it’s a common catch in student jargon. “OMG, I broke my phone at that rager last night” or “I just broke up with my girlfriend ’cause she was cheating on me with my best bud.” But when used as an adjective, the word describes the financial status of most college kids.

Unless Dad is handing over his preferred platinum card or you strike it rich selling those musty ol’ Pokemon cards, you’ll have to get by on meager means. Here are some painless ways to get major bang for your buck … even if it’s your last buck.

Put the “Eat” in Creativity

Whether you’re craving a change from the monotonous glop of the dining hall, celebrating a friend’s birthday at a nearby bistro or taking a study break to go for a late-night munch, your wallet will take a hit. Cutting back on these extravagances means getting clever.

1. Buy in bulk When stashing snacks in your room, think long term. Talk to your roommates about pitching in for some grub, then head to the nearest warehouse retail chain to stock up on industrial-sized cheaper-in-the-long-run crates of Ramen packets and other non-perishables. Many discount clubs offer collegiate membership rates, and some give free introductory one-time shopping passes for non-members to bypass the annual fee altogether.
2. Use the student discount Grocery stores, restaurants and even places on campus usually have discounts for students. Even if you don’t see it advertised, it doesn’t hurt to ask. Have your student ID at all times. It could save 15 percent on that panini or score you a free dessert!
3. Sniff out free food Complimentary chow is almost as popular on campus as the latest gossip on CollegeACB. “Club meetings and churches are always looking to give out food to potential new members,” says Robby Panos, a University of Virginia junior. Philanthropic bashes and school-sponsored speaker events are also prime time for gratis grubs. Grab a slice of pizza and take in a lecture.
4. Have a drink on me Students pour beaucoup bucks down the drain when indulging in conveniences like Starbucks and bottled water. Invest in a coffeemaker so you can brew your own, and get yourself a travel mug. Pick up a refillable water bottle too if your college’s tap is tolerable. Bonus: It’s better for the environment.

That’s Entertainment

Life doesn’t have to be a snore just because your pockets are empty. Money buys neither happiness nor a stellar social life. You can get out and about without tossing around a ton of green.

1. Be art smart Your campus is probably rife with free productions, concerts and workshops. Problem is, nobody really hears about them … and when people do, the enthusiasm is usually lower than the grade on your last calculus test. Time to do some research (track down calendars of events), gather up your dorm mates and head to the next pay-what-you-can play or free movie screening. Even if it’s bad, you’ll get a few laughs — or at least the opportunity to heckle!
2. Speak Greek Not joining a frat or sorority will save you a lot of cash right out the gate. But what happens when you want to get into the best party of the year and don’t have the connections? Exchange names of brothers and sisters you know with friends and ask them to do the same — on most college campuses, name dropping is the ticket to free admission. Once you’re inside, you’ll get beverages … and if you’re lucky, maybe even a few phone numbers.
3. Out on the town Be in the know too when it comes to events in neighboring areas. Community organizations often host free outdoor festivals with live music. Local restaurants have early-bird specials. Theater workshops and art galleries frequently offer free or reduced admission. (Again, don’t forget to ask about student rates.) Read newspapers and pay attention to fliers. It could pay off.
4. Any singles? If you have a significant other who saps all your savings, it may be time to have a chat about cutting back on unnecessary costs or to ask your partner to pull his or her own weight. If this person is not important to you, you may even consider living the single life for now. Romantic dinners and little gifts add up. Is it worth it? Your call.

Shop Till You Plop

Enter upscale department stores and exclusive boutiques at your own risk, but you don’t have to totally give up the urge to splurge. Just tone it down a few notches.

1. Clothes the deal Punch up your wardrobe without breaking the bank: shop clearance racks. (The best ones are where an additional markdown is given to already slashed prices.) Look for one-of-a-kind finds in thrift and consignment stores. Pick up inexpensive accessories at discount stores and chain boutiques.
2. Gotta dollar? Discover the beauty of the dollar store. It’s great for party supplies, stationery, candles, soaps, toiletries and tons more. Whether you’re buying useless trinkets or practical necessities, think about it: You can walk in there with a 10-spot and leave with lots of loot. Heck, you can scrape together a dollar plus tax in pocket change and treat yourself to something.
3. Be a coupon king or queen Keep a lookout for coupons on one-day shopping events at major department stores. Also sign up for email notifications of store specials and be sure to check online for Internet coupons before making a big purchase. (Restaurants and fast food chains run a lot of coupon specials too, so keep your eyes on the prize.)
4. Beauty booty Ladies, fine department stores dole out free samples at the cosmetics counters. Want to road test a lip color or facial moisturizer or new perfume? March on over there with an air of confidence and ask the consultant to show you some options. She’ll likely give you mini-sized products to try at home.
5. What a card! If you’re a die-hard shopaholic experiencing severe withdrawal, hold off before reaching into your cash stash by keeping in mind that the holidays are right around the bend. “It might be painful to wait all semester,” says Appalachian State senior Diane Vachon, “but soon enough you’ll have a dozen gift cards with your name on them.”

Common Cents

Ask not what you can do for your school but what your school can do for you. Universities give back to their student patrons in plenty of ways, so take advantage.

1. Be book smart The library isn’t just for studying, using the Net and people-watching. It actually contains books — a revelation, I know. If you’re taking subjects like lit, history or philosophy, the library could relieve a big financial burden. Instead of turning to the expensive school bookstore (or even Amazon) for a book, do a quick search on the libe’s browser to see if it’s available. Then drop-kick the kid who’s about to check it out.
2. Get off your lazy butt If you have access to the campus gym and you’re paying for a pricey fitness membership, stop. Other free-of-charge physical activities: walking, jogging, hiking, in-line skating, riding your bike, a pickup basketball game, lifting weights in your room, dropping to the floor to do sit-ups and push-ups … shall we go on?
3. Let’s make a deal You’re a smart cookie, so figure out how to split costs with your roommate. Double up on your laundry to save quarters. Share a printer, swap playlists and take the same cab home from a party. And if you’re both heading out of town, consider carpooling. Even if you and your roomie aren’t the best of buds, a road trip is always less taxing when there’s company … and music.
4. Hop on that job “The No. 1 thing I can say is find a job on campus,” offers up Wabash College junior Mack O’Shaughnessy. “It’s the best way to get some extra cash in your pocket.” On-campus stores and restaurants are often hiring. Just don’t tell the folks: You still need someone’s sympathy, especially when it comes in the form of a crisp Benjamin.