Our Archive of Articles About Financial Literacy and Other Topics
10 Commandments of Personal Finance For Young People
May 17, 2007, 3:32 pm
A list of ten hard-and-fast rules for college students who are just entering the world of credit and debt.
The indiscriminate use of high interest credit cards and poor saving habits lead many college students to a poor financial standing before they even graduate.
At Springboard we offer free financial counseling for students. Here are some suggestions to better help you obtain financial freedom:
1) Manage your expenses so that they do not exceed your income.
2) Spend money thinking of your future as well as your present.
3) Begin saving early to take advantage of compound interest.
4) Avoid collecting credit cards and using them for borrowing.
5) Always honor your debts and other financial obligations.
6) Project your income and expenses for the next 12 months and track variances.
7) Focus on the relationship between the risk and projected return of investments.
8) Maintain organized records for tax and general financial planning purposes.
9) Have a plan and a purpose for your investing.
10) Obtain a financial education to be in a position to make intelligent financial decisions.
