Classes have started.  You are technically “on your own” –- or at least on your way.  Ready for a little more advice?  This time it’s not from mom, dad, grandma or grandpa or whoever it is that certainly “knows better than you” – this advice comes from the pages of The Wall Street Journal.   The article, “Money Moves Every College Freshman Should Make,” spells out 12 suggestions for “a little budgeting, saving and smart spending” to help lead you on the path to developing good financial habits.

The title of the article uses the term “Freshman,” but the advice certainly applies to all students, no matter the grade level.  It serves as a good companion to Principles 1 and 2 as presented in Personal Finance Turning Money Into Wealth – Principle 1: The Best Protection is Knowledge; and Principle 2: Nothing Happens Without a Plan.

It is not unusual for a student to leave home and go off “on their own” with no real concept of how to deal with money.  Although many families will talk freely about study habits and expectations, potential relationship issues and even alcohol use (or abuse), the details of dealing with money are sometimes difficult topics.  Advice might be vague, like — “Don’t spend too much” or  “Remember, money doesn’t grow on trees.”  Even if you feel you have a pretty good foundation in money matters, how you deal with money, the choices you make and the financial decisions you make could follow you the rest of your life!

Class Discussion:

1.  The 12 suggestions presented in the article, “Money Moves Every College Freshman Should Make,” by Veronica Dagher are certainly worth reading and thinking about.  How many of these moves have you made?  How many of them do you think could have an impact on your financial future?

2.  Which one of these suggestions do you feel you will have the most trouble with?  Why?