Are you a current or prospective college student who could use a few money-related hacks? Those working on their degrees are in a uniquely challenging position when it comes to personal finances. That's because not only do they have to keep up with demanding coursework, but they also need to have at least a modest supply of spending money. So, what can you do when it's impossible to hold a full-time job, but you still need some cash? 

For so many students-to-be as well as current students, the answers are varied. Some can spare enough time to work an online micro job. Others choose to free themselves from having to scramble for tuition money by taking out student loans. Other effective solutions include making a realistic monthly budget, maintaining a small savings account, limiting social expenses, and applying for a secured credit card. Each tactic has its own advantages and benefits. Check out the following suggestions and see which ones work best for you.

Get an Online Micro Job

There are plenty of advantages that come with snagging a micro job online. One is obvious in that you'll have more spending money in your pocket when you need it.

But young people tend to forget that even a five-hour weekly gig serves as a resume line item that can help later on. Employers notice when applicants have struggled to earn money, even if the positions were micro jobs like freelance writing, website testing, or tutoring.

Leverage the Power of Student Loans

Probably the biggest money hack of all is applying for a private student loan to pay for some or all of your education-related expenses. But it's easy to forget that loans offer many other not-so-obvious benefits. For one, they free up your time so you can focus on coursework, earn good grades, and not have to worry about where the next semester's tuition payment is coming from. Students are usually surprised to discover that applying for education loans online is a quick and simple process that takes just a few minutes. Settling the finance question before classes begin offers a large amount of peace of mind for busy students, whether they opt for a 100% online degree or a more traditional, in-person one.

Save 10% of What You Earn

Aim to save 10 percent of whatever you earn. The amount doesn't matter. What does matter is developing a savings habit that will serve you in the future. Set up a formal savings account with a major bank. Even if you add small sums to the account regularly, doing so can help you create a credit history and build up a financial file with at least one major institution. Later on, use the same bank for depositing paychecks.

Make a Monthly Budget

If you're in college already or still in the planning phase, it's very wise to make a monthly budget.

No matter how much money comes in and goes out each month, you do yourself a huge favor by knowing where it all comes from and where it goes. Budgets are like roadmaps for your money. Having one can help you use the cash you have more efficiently and have more left over for recreation, unexpected bills, and occasional travel.

Limit Party Expenses

If you use a budget to guide your spending habits, it's much easier to limit entertainment expenses. With so many fun things to do with friends at college, many college students describe recreation and weekend fun as main parts of the culture, and they should be. Still, it's important to be careful about this spending category because it's easy to let it become a financial drain on your savings. Be honest with yourself and set reasonable limits on the amounts you wish to spend on weekend outings, partying, and get-togethers.

Apply for a Secured Credit Card

Unless you've already worked for a few years before attending school, it's crucial to build up a credit history. However, there's a catch in that you're in school and not working full time, it's nearly impossible to develop a credit history with the three major reporting bureaus. There's a way around this dilemma. Apply for a secured credit card. Some of the newest versions of the versatile cards come with low initial balances and low annual fees. The idea is to put a hundred or more dollars on such a card, use it like a debit card, and repay the entire balance down to zero each month. Some companies' secured cards report to two or more bureaus.

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