Money Sense

Information adapted from Please Send Money.

The college years are probably the first time in your life when your parents will not constantly monitor you. This newfound independence can be liberating. However it may also cause you to make decisions you are not truly knowledgeable about, just because you can.

And money (how to spend it, when to spend it, where to spend it) is something you will have control over.

It's important to realize that the financial decisions you make now will affect the rest of your life. You may already have student loans to pay back after college, so adding more private loan and credit card debt may use up too much of your future income. Remember, once you graduate, you will have even more monthly payments: rent, car expenses, car insurance, medical insurance, food, etc.

How to Live Within Your Means

• Create a budget.
• Track where your money goes.
• Determine your financial goals and make a plan to achieve them.
• Realize your spending priorities.
• Be willing to give things up.
• Don't spend more than you make.

Not sure if you want a part-time job?

Learn about the pros and cons of part-time jobs and what types of jobs are available.

Don't know anything about credit cards and debt?

Learn about credit cards and get tips for college students.

Myth About Working

Information adapted from The 75 Biggest Myths About College Admissions.

Myth: Working while going to school is a last resort.

Reality: Jobs, both on and off campus, are common and can be beneficial.