Saving Money

One of the most difficult things – maybe the most difficult thing – about living in an expensive city (or any city for that matter), is managing your money. Even if you're not doing this 100% on your own, you're still going to be managing your daily cash flow, expenses and disposable income. If you're just starting out, this can be pretty overwhelming.

What it all boils down to though is cutting back. It doesn't matter how much you make, either. Whether it's $20,000 or $150,000, the key to financial success is living below your means.

This means being honest about what you bring in and what you spend. Keep a log, a chart, whatever you want. There are plenty of financial tools available to you online, such as the budget program recommended below. We'll keep adding to our list of tips. For now, here are a few easy tricks to help you save.

• Open a true No-Fee checking account - Find a good selection of no fee checking accounts in your city at Bankrate.com.
• Use your debit card instead of your credit card, so money gets immediately deducted from your bank account.
• Save your double decaf mocha extra whipped latte for a Friday treat and make coffee at home the rest of the week.
• Buy clothes off season or at consignment stores (yes, there are plenty of upscale ones).
• Avoid going to large dinner parties where you have to shell out $75 to pay for someone else's prime rib when you only ordered a salad.
• Get your student loans consolidated now. A good place to start your research is at the Federal Student Aid Loan Consolidation website.
• Consider volunteering to be a guinea pig at a fancy hair salon. You'll get a great cut (or color) but you may not always get to pick the style.
• If you have a choice between taxis and public transportation…yeah, you got it. Kind of a no brainer.
• We're always adding to our list of money saving resources so check back often. But if you have any of your own, do share on our Forums!

For additional money resources, see Inside Scoop.