Here we go again...

Its about that time--fresh snow on the ground, new faces and brand new professors. It's the start of a new semester and many are awaiting their refund checks. But here at Savvy Student, we are here to remind each student ways to be smart and chic while on a budget.

Step one is simple. Don't splurge!

Watch what you do when your money comes through.

It's very tempting, when you get your refund check at the start of each term, to get a false sense of financial security and spend accordingly. Use your will power and try not to splurge. If you do this, you'll reap the benefits at the end of term when you actually do have money and are not scraping the barrel. You should also consider spending your money on things like books and equipment that you'll need and use for the semester or even longer. Keep yourself from buying things that you really don't need, no matter how badly you want them!

Step two : Give yourself pocket money.

Control your spending with a self-imposed allowance.

Just as your parents may have given you a weekly or monthly allowance, this strategy will help you begin to think about and control your spending. On the same day each week, withdraw a fixed amount of money to cover your weekly expenses. Each weekly withdrawal must be for the same amount. This way you will begin to create a healthy spending pattern.

Step three is be wallet aware!

Only carry the amount of cash you allow yourself to spend daily.

If you're a sucker for an afternoon latte or tend to get cash-happy on a night out with your friends, put money in your wallet on a daily basis. Not only will this stop you getting that final round in and blowing tomorrow's money, it will also allow you to save in advance for a special occasion.

Step four is to keep an accurate record of expenditures.

It may seem like a drag and you may think you do not have time to do it daily but in the end it works out. Basic bookkeeping helps to keep spending in line and underscores the importance of writing a budget and sticking to it. The extra five minutes a day of writing your charges will help when your wondering "Where did all my paycheck go?"

Step five is to routinely visit Savvy Student.

Here at Savvy Student we know how to keep you informed about the latest ways to budget and save. Not only are you going to learn to budget that refund check and all your checks to come but you'll also look savvy doing it.

Savvy Student