Hello and welcome!
Nice to see another Santa Barbarian as there are few here. I'm similarly aged to you.
For saving money here specifically I suggest sharing rent and possibly living in Goleta. Buy an Axxess card if you ever like to eat at restaurants or go out for other treats like McConnell's or beer. Food-wise I cook most of my meals and buy groceries on sale or from a wholesale store. What else, never pay for the parking structures downtown. There is free parking several blocks away from State that is unlimited in the time you can park there. The best deal gym in town is 24 Hour fitness if you buy a two year pass from Costco. There are ways to have fun without spending much money, just as in any town.
Feel free to pm me!