Entering second year... so my first year approach was:
-If class was required or I liked the lecturer I went to class (or if I liked the lecturer but had to miss class for some reason I'd listen to it online).
-If it was not required and I didn't like the lecturer, I would take notes from the readings for that day (if there were a days coming up where I wasn't planning on going to class I would just try to get as much done per day as I could in hopes of working ahead to give myself more time before the test to study everything rather than learn new material)
-After getting the work I needed to do for that day accomplished sometimes I would try to work ahead, or I would use that time to read over my notes and start re-organizing them into flowcharts, charts etc. Or I wouldn't do anything else school-related. Depending on how motivated I felt or how close it was to the test.
-Weekends were for catch-up or closer to a test, for studying. I took a LOT of weekends off. Or I would take a day off in the middle of the week and make up for it during the weekend.
-I tried to get far enough ahead that I had about 5 days minimum to study/not learn new material before the test.
I would basically get up and go to bed whenever I felt like it but I'm trying to change that this year because it screwed me over when we'd have required class at 8am. lol Times for classes varied on the unit/professor and if I wasn't going to class I would just start studying whenever I felt like it. I'd guess that the 6 hours someone threw out earlier in this thread is a good average, but I tended to have binges where I'd spend nearly all day taking notes or studying one day, and then give myself the day off or do very little the next.