Plan your Budget: The best way to manage money over the course of a semester is by mapping out a budget. List sources of income such as scholarships, loans, money from part-time jobs and allowances from your parents. This list your expenses: tuition, books, clothes and groceries. Include some amount of money in the budget for entertainment or recreation. Keep the amount small, but don't try to do away with it altogether unless absolutely necessary, as you may be tempted to break your budget otherwise.
Open a Checking Account: Having an account of your own at your parents’ bank may allow them to transfer money to you more easily. Many banks offer special accounts for college students including free ATM usage, no monthly fees, no minimum balance, and sometimes interest can be earned on your balance.
Use Credit Cards Sparingly: Credit cards are not necessary, but using them wisely can help you build a good credit history. Use it only for necessities, and pay the balance of completely when you receive your bill. You may also be interested in obtaining a credit card to be used only for emergencies.
Pay all Bills: Pay cell phone bills, car payments, car insurance and rent on time.
Track all your Expenses: Know how you are spending your money. This will help you stick to your budget and easily spot ways you can cut back.
Start Saving: Start small with a set amount of money every week or month. This will help you develop a habit of saving that will stick with you. It is a good idea to save up an emergency fun you can dip into to pay for unplanned expenses like car repairs or replacing a lost item like a computer. Having savings means you can pay for the necessary expense without incurring debt.
Invest: College is an excellent opportunity to further your interests in some way, whether that's participating in a sport, acting in a play or studying abroad. These may incur added expenses, but the long-term outcome makes it worth the money. Choose your activities wisely so you are spending money on those you are really interested in, but not wasting money on something you don't really enjoy. Plan out your expenses and save up for them so they don't catch you by surprise.