Students take out college loans as investments in their futures. A college education pays off with higher earning potential. However, if you fall victim to credit card spending, as many students do, your future income will all be earmarked toward paying off debt. Here are some helpful tips to help you save instead of spend.

Attention college students! Once you step foot on campus, you'll find a million and one ways to spend money. Expensive textbooks, Friday night happy hours, and spring break vacations in Florida can leave your bank account dry and your credit cards bubbling with new life. By learning a few savings tips, you can balance saving and spending, and graduate from college with cash in the bank instead of owing cash to the bank.

Elementary education

The following three ideas are elementary in order to develop a savings strategy:

• Avoid instant gratification. When you make a purchase, ask yourself if you really need the item. If you're not sure, give yourself a week to ponder the purchase before you buy it.

• Pay off your credit card monthly. This technique will make the money you spend feel "real" and keep your balance in check.

• Don't pay with a credit card and allow friends to reimburse you with cash. This may seem like the easiest way to settle a restaurant bill at the time, but it's essentially a cash advance and will add up quickly.

Secondary school: Create a budget

Whether you're living off savings, a part-time job, college loans, or some combination of all three, you should create a budget.

• Make a detailed list of your monthly expenses. Include everything right down to your daily latte splurge.

• Carve out a small amount for savings. This is beneficial even if it's only $10 a month.

• Evaluate the success of your budget monthly. You can use a simple spreadsheet, or use more advanced software, such as Quicken or Microsoft Money.

Advanced studies: Trim expenses

If you put yourself on a spending diet, it can cause a backlash from feeling deprived. A few minor spending adjustments can make a significant difference.

• Purchase used textbooks. Ask friends if they know someone who took your course last term. By cutting out the middleman, you may find the books cheaper than in the bookstore.

• Live car free. It's expensive to shell out money for car payments, insurance, parking, and gas. Take public transportation or catch rides with friends-it will definitely pay off.

• Enjoy low-cost entertainment. College campuses have an abundance of free activities, clubs, and entertainment. Get involved on campus-you'll not only save money, it will look great on your resume.

Making changes in your savings habits has definite rewards. When you graduate from college, you'll have a healthy stash that you can build on once you begin generating income. Developing good spending habits will not only help you during college, but for many years thereafter.