10 Commandments of Personal Finance For Young People
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:
- Manage your expenses so that they do not exceed your income.
- Spend money thinking of your future as well as your present.
- Begin saving early to take advantage of compound interest.
- Avoid collecting credit cards and using them for borrowing.
- Always honor your debts and other financial obligations.
- Project your income and expenses for the next 12 months and track variances.
- Focus on the relationship between the risk and projected return of investments.
- Maintain organized records for tax and general financial planning purposes.
- Have a plan and a purpose for your investing.
- Obtain a financial education to be in a position to make intelligent financial decisions.
