I got a question the other day from a reader who is still in school, asking for some tips on how to be fiscally responsible in college. Here are a few thoughts:

1. First, don’t forget that you’re in college. People say that college is one of the best times of your life. It is simply an amazing time that you’ll (hopefully) fondly look back on. Despite being a personal finance blogger, I’ll always encourage you to live it up while in college and have no regrets!
2. Item number one being said, don’t overdo it. Many of us will graduate with college debt, so don’t go overboard on spending and come out with a lot of credit card debt too. You can always have a good time without blowing all your money.
3. Take inventory. Some of us receive a nice monthly “allowance” from our parents. Others of us have a credit card that our parents pay off for us each month. Some of us get little to no support from our parents. No matter your circumstance, don’t sit around whining; it is what it is. Sit down and figure out your financial situation. How much am I getting each month? How much do I have saved up or how much do I earn each month? How far do I need to stretch my money?
4. Know your boundaries. Once you’ve taken inventory, set your limits. For me, I worked each summer and saved most of the money I earned. I came back to school with x amount of dollars and knew it had to last me 9 months. I did the math and figured out how much I could feasibly spend each month. Whatever your circumstance may be, define your boundaries and stick to them.
5. Consider getting a part-time job. I was actually in the minority by not working in school. After completing steps 4 and 5 and finding that there is just not enough money for you to live comfortably, consider supplementing your income with a job. At UNC (go Tar Heels!), where I went, there were plenty of them. The jobs ranged from just a few hours a week all the way up to what seemed like a full-time job. The pay won’t be great, but in most instances the work won’t be too tough, either. Most people used their “job” as a time to do their homework or study.
6. Don’t worry too much about investing or saving. In my mind, you should come out of college broke but not in debt. Work hard and have fun. Get a good job coming out of college and you’ll be fine. College is a time to invest in yourself and in relationships, thereby investing in your future. You’ve got the rest of your life to worry about saving and retirement.

College is an incredible time but don’t overdo it! There are plenty of ways to have fun on the cheap. Get out there and enjoy yourselves!

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