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I thought I would take this opportunity to discuss why being smart with your money is very important, ESPECIALLY when you're on a tight budget as a student.
I currently have a friend who is a full time student, and now has two jobs. He has spent his money on things that he really didn't need, and then put himself in a living situation that he was not going to be able to afford. Now he is in debt and there's a pretty good chance he will fail some classes this semester because he has no time to do homework (which is really just a waste of more money).
Don't end up like him! Be aware of things that you NEED, as opposed to what you WANT. Having a roof over your head is way more important than getting drunk this weekend.

Some common areas that students tend to spend their money: booze, food, entertainment, clothes. I know that these are all things that help make your college experience more grand, but think before you spend. If you want to get drunk, try to either pre-party before you go to the bars (Safeway and BevMo are the best for alcohol deals) or go for a bigger bulk of alcohol and split it with more people.
Go grocery shopping with a list of things that you need, so that you don't forget anything and you don't buy things you don't really need. And then use that food. Don't go out every night and let it rot. If you do go out, look for places that have student discounts (particularly the taquerias). Check out places like FoodMax that have good deals on food.
If you need a new outfit, check out Plato's Closet for some really great deals on good clothes. Not to mention you're helping recycle.
As for entertainment, a lot of places have student nights where there's either a discount or it's free. Pay attention to posters on campus, because they have some great things happening, like Free Pizza and Comedy night.

Really you just need to pay attention and use your common sense. Don't do things you know you can't afford just because you're friends are. Look at your bank statement a lot to make sure you're not getting too crazy, and always look for good deals.