Being a student means there are a lot of different things on your mind, like classes, exams and work. Something that often troubles students is the thought of finances. It can seem overwhelming and confusing to have to think about money, or maybe you're putting off thinking about it until after graduation when you're out in the real world with a real job.

Having a budget — and sticking to it — during college can seem like a daunting task, but being mindful about your money now can save you from drowning in debt after graduation.

Making and sticking to a budget can be easy if you know what you're doing. Jeffrey Smallwood, an Accountant and Cost Management Specialist for a large auto manufacturer, offered some tips to help with your college budget:

Track your money
Take a look at every penny you spend over a four-week period to get a real understanding of what you buy. Most of the time, the little spending goes unnoticed, but a daily trip to Starbucks or that midclass chocolate bar can really make a serious dent in your budget.

Prioritize your "fun" money
Let's face it: school would be a terrible two or three years if you never had any fun. That being said, it would be impossible to take part in EVERY activity that comes up. Determine early on what your priorities are and spend accordingly.

Pre-drink
Yep, that's right. Drinking at home before you hit the bar is the best option for your wallet. A bottle of beer at home can cost as little as a buck but will probably average around $2. Downtown you will pay between $5 and $6 per drink. That's a 200 per cent increase for you math majors!

Go Dutch
Taking out that special someone does not mean you have to empty out your wallet. Agree early on that you are probably both cashstrapped students and get the "traditional" expectations out of they way. Try to plan dates on weekdays. Many restaurants and entertainment establishments engage in a common practice called "demand shifting." The basic premise is that they are usually busy on Thursday, Friday and Saturday, so they offer specials the rest of the week to bring people in the doors. Ever wonder why wing night is on Mondays?

Go to the library
I know, trips to the library can suck, but they probably have that textbook you need for your calculus class. Textbooks can be expensive and won't provide you with much value after the class is over. If the library does not have your book, ask some people in the next year of your program. They probably have a "like new" copy that they would be willing to get rid of for a seriously discounted price.

Ask for help
Don't wait until your Visa card is maxed out to admit you have no money. It's tough to ask your parents, but they may be able to help you. Also, check out the Financial Aid office in room E2020. There are always scholarships and bursaries — see if you qualify.

Having an effective budget can make college life a lot more affordable, fun and stress-free, so take the time to consider your finances now — you'll thank yourself later.