Every money-conscious college student has faced this dilemma at least once in college. The “oh yeah, my money is going toward my education and not my craving for sushi" dilemma. This usually comes up on the weekends when that one friend is having a birthday dinner and you're so excited to go until your bank account reminds you that you can afford water and maybe an appetizer… during happy hour… if you split it with someone else.

Its a harsh reality when you have to begin thinking about where all your money is going. That is why it's important for college students to begin budgeting -- even if their parents are still somewhat supporting them -- just so they can get into a pattern of knowing exactly where their money is going.

If I were to postulate where a typical college students money is going toward, I would say most of the funds are tied up in paying for college, secondly in rent (especially in Boulder), and thirdly in food -- whether thats going out, groceries, or shopping at Whole Foods which (the latter of which will bankrupt you). The miscellaneous spending comes from Red Rocks concert tickets, spring break plans, or for Greek life students all the new apparel.

The point is that college students money is quickly disappearing because we are spending how we are told to spend. For generations, college students have been told that college is the "time of our lives" and to "enjoy it while it lasts." These phrases apparently correlate to students spending away bank accounts on concerts, dining out, apartment decor, and parties.

We are spending the money to create these memories and have the time of our lives. The downfall is that at the same time we are spending like there's no tomorrow while on the brink of adulthood and true responsibilities. Its an insidious pattern that we tell 18-year-olds to enjoy these four years to the fullest while failing to mention that once that time has passed, those graduates have erased all possible credit and financial security.

In order to counter these patterns, colleges across the nation have set up financial centers that offer services to students struggling to manage money or give quick tips on where and what to spend money on. While these services are a great resource, its not very likely students will seek this help on their own until there is no other choice and they have zero money to even budget. So to avoid this last option, here are some small steps college students can make in their lives to make a big difference after graduation.

1) Pay in Cash Every Chance You Have

When you have a credit card, it can be easy to assume your budget is endless. The reality is that credit cards, while helpful for items such as gas and groceries, is money that needs to be paid back. When you pay in cash, you not only know exactly how much money you have but you also don't need to remember paying that money back. Paying in cash may take certain things off your grocery list, but it will teach you to live within your means which is invaluable as college students.

2) Make A Monthly Budget

If you are living on your own or with roommates and are having to make monthly payments, it's always useful to have a budget that outlines where your money is going to every month. Even if you're not receiving an income because well, college, it is useful to outline the payments that need to be made regardless. This means your budget should reflect how much rent is per month, how much you're spending on groceries per month, and other items such as gas, laundry, cable, internet connection. These are all things that are purchased on a monthly basis and its useful to track how much money is going toward these things so you can understand how much money you have for miscellaneous spending.

3) Start Cutting Things Out

As soon as you have a set budget for every month, it will become clear where your extra money shouldn't be going. This is a good time to reevaluate your spending and you might realize that you can cut back or completely cut out some aspects of your spending. For college students, this extra money is usually going toward Starbucks or eating out. These don't need to be completely cut out of a budget, but it will make a definite difference to cut back on these every month.

4) Utilize Resources While You Have Them

Typical universities provide housing options, meal plans, recreation centers, and transportation. These resources are awesome and paid for somewhat by your tuition so take advantage of them in the short four years you have them. Sure, the rec center is crowded and you don't care for the campus food, but you will be saving loads of money using these resources, and the saved money can go toward those other things you would have to give up if you were living off campus.

5) Frugal Isn't Cheap

Many people joke about the Ramen diet during college, and while this is seen as cheapness, it is actually being frugal, because we are getting the most out of our money. Students are already offered discounts just for being in college, such as cheaper movie tickets, but it helps to be frugal in other aspects as well. Searching for Groupons when dining out, cutting coupons for groceries, and forgoing cable for Netflix every month will be saving a substantial amount of money in the long run.

Hope these tips and tricks will help your college budget and get you off to a good start after graduation!