Part One

When you head to college this fall and you’re on your own, you might be tempted to spend money on all the things your parents wouldn’t let you have before. Go slow. If you play it smart, you can avoid the sort of money troubles that plague many young adults. The number one reason students drop out is because they run out of money.

Here are some tips:

1

Make a budget. At the start of the month, estimate how much money you’ll receive and decide where needs to go. Use a notebook or Quicken.

2

Don`t get a credit card unless you absolutely need one. Don’t be a sucker. Those guys sitting behind the sign-up table are not there to help you. They’re there to make money.

3

Join a credit union. Don’t just sign up for a random bank giving away t-shirts or Frisbees at registration. Track down a credit union in town.

4

Save and then splurge. If you decide you must have that Xbox, then save for it. Wait until you can pay cash.

5

Buy used textbooks. You’re just going to sell them back at the end of the term. (Or end up wishing you had done so five years from now.) You don’t need new textbooks.

6

Live without a car. Cars are expensive: gas, maintenance, insurance, registration, parking. Stick close to campus. Learn to use mass transit. Find a friend who has a car.

7

Take advantage of campus activities. There’s always something to do. Attend free movie festivals. Support the sports teams. Attend lecture series. Get the most from your student ID!