• The best thing to do is to set out a weekly budget, and only take out that amount of money every week. This strategy will help you avoid going broke too quickly.
• Make reservations and price shop for any trips or daily/weekend excursions you plan on taking while abroad. Stay at hostels rather than hotels because they are much cheaper.
• Going out can get expensive, but you certainly don't want to sit in your room all day while in a new country. To save money, go out before bar/clubs charge a cover to get in.
• Consider purchasing a public transit pass, especially if you'll be in the country for a long time. Taxis can get expensive, and bus and train rides are cheap and stop at the most convenient locations.
• Watch out for you belongings! Pickpockets are everywhere. Considering wearing a money belt or neck pouch, especially in crowded, urban cities.
• Get your ISIC card, which offers you great discounts abroad to places like museums and movie theaters.
• Don't do your entire souvenir shopping when you first get there. You'll find lots of shops while you're away carrying many different items for different prices. You'll be in the country for an entire semester or even longer, so you'll have plenty of time to get that shopping done.
• Talk to other people in your program and get tips from them on what to do. You never know, but they might know the cheapest place to get your laundry done, eat good food, use the internet, etc.
• Take a journal with you so that you can reflect on your adventures or anything else you see while gone.
• Bring pictures of friends and family that you can look at whenever you get homesick.
• A guidebook is always a good way to learn about any country you plan on living in.