The Worst Student Money Mistakes and How to Avoid Them

For many students, college is the first time out in the real world and mastering money is a major milestone on the road to independence. Some rise to the challenge while others stumble slightly, while still others fall flat on their face and need reconstructive surgery to repair the damage. To avoid being the latter, here are the most common student money mistakes and how to avoid the financial turmoil caused by them.

Not knowing enough about credit cards before you get one. Many credit card companies sponsor giveaways and other events at universities. The whole point is to push credit cards on unsuspecting students. Don’t fall for it! These cards usually have good introductory rates but when a couple months go by the real rates kick in, you’ll be left wondering how your $200 balance turned into $600 in the blink of an eye. If you want to get a credit card, read Choosing Your First Credit Card to get good tips on what to look for in a card. Read more…