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Smart money tips at college

Posted by administrator under Personal Finance

Going off to college?  Don’t have a clue how to spend or rather not spend money?  Well the guys over at Lifehacker have put together a little guide for trying to at least pause before spending your money with wild abandon.

hurt piggy bank

Back when I was in school, last century, personal finance was a course that was required for graduation from high school.

Just for fun, take a look down the list and see how many of these financial terms you’re actually familiar with.

And while we’re at it, US News has an article along the same personal finance vein.

My own college experience was buying at least 20 t-shirts at $15 a pop.  The stupid ones a college freshman wears, but would be too embarrassed to wear once he actually reached adulthood.

Enjoy the articles.  Comments welcome.

Does anybody besides me remember having personal finance as a required course back in high school? It seems like money management is one of the courses that’s been cut from just about every single public high school’s curriculum. The big irony here is a personal finance course has some of the most needed skills that we need once we actually get out there in the world.

Flying MoneyThe Wisdom Journal Blog has an article entitled “10 Critical Money Management Skills Your Children Need You To Teach Them”.

The article covers

  1. Balancing a checkbook
  2. Budgeting money
  3. Establishing credit
  4. How to pay for college
  5. Identifying wants vs. needs
  6. Dealing with debt
  7. Paying taxes
  8. Saving and investing for the future
  9. Understanding the total cost of ownership
  10. Choosing a thrifty lifestyle

To be honest, if you can teach your kids #5 above you’re doing well.

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