Five Common Money Mistakes of College Students
There are a number of different mistakes that college students will make when they start to get into the realm of financial responsibility, here are some of them:
1. Credit card debt accumulated. Many times college students are the target of credit card companies and they do not know how to handle the debt or a means to pay for it.
2. Destroying their credit score. Because of credit cards and other loans, college students get in debt over their heads and have trouble making the payments necessary.
3. Improper budgeting can also be a huge money mistake by college students. Many times they do not realize the real cost of things and end up not having the money to pay or cover all of their needs.
4. Misuse of student loans. This can cause a huge problem for the future as you will have to pay that money back and if it was used to finance a trip as opposed to pay for school you will regret it.
5. Going to a college that costs too much. Many times the only thing the student looks at is the name on the school. This could cost much more than necessary for the same education at a much cheaper local school.
Joseph Leonard is a registered Investment Advisor in North Carolina, author of The Retirement Vault and founder and CEO of the Financial Management Company in North Carolina, Coastal Financial Associates.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment