Monday, January 24, 2011

Best money bets for college students

A question I get asked often is for advice for college students. One of my Twitter followers, @BeForREAAL, brought the topic up last week:

My thoughts on that question never waiver: the best financial decision college students can make is to avoid graduating with unnecessary debt. The two most important ways to do so is avoid over-borrowing for school (i.e., borrowing for more than tuition, fees and books instead of working to pay for incidentals), and using credit cards for non-essential purchases. The average college student in the 2008-2009 school year had borrowed more than $23,000. That's a lot to have to pay back -- with interest -- in a tough economy where it's hard to find a job.

I opened the question up for my timeline and got some other answers:

Pretty sound, common sense advice. What else would you suggest?

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