I am going to be a second-year college student. Last year I spent way way too much on bikes. I receive a considerable sum of government VA money monthly so it is super important I learn to not squander money. My policy is generally two separate bank accounts. One I don't have any debit/credit card for, so I cannot make spur-of-the moment purchases out of. Bills and emergencies (and, eventually, investing) only. That is where most of my money is. Then I have, say, 7 percent to 10 percent of a check in a secondary, debit-card account. This is my play money and I don't expect its normal balance ($100-$200) to last more than the month. Smaller bike purchases (new bars, cleats, etc) will come out of this, along with miscellaneous online purchases, mid-season clothes buying, and so on. My school has amazing food so I never buy any.

Now, for big purchases... like a new bike. Because I can't just walk into a store, test ride a bike, and fork over my debit card, I'd have to at least go to the bank before buying. Generally this forces me to deeply consider if I really really want something or not. Also by looking at "savings money" and "play money" separately I can estimate better how I will be financially after buying something big, and not have my play money bloat my actual financial situation.

It's 10 percent getting trained and organized and 90 percent mental, man!

edit: and about credit cards. STAY THE HELL AWAY FRESHMAN YEAR. No matter how financially responsible you think you have been at home, you _WILL_ be pressured by living away!! I am 27 credit hours into my education and I am NOWHERE near responsible enough to start building credit! I can't imagine being disciplined enough for one until at least next year.