smart money strategies
Preparing for Independence
If college is your first chance to manage your own finances, you may be surprised when you find out how much it actually costs to live. But doing some research can prepare you for the financial realities of life away from home. Which of these activities may offer an accurate preview of what to expect?
- Ask friends how much they spend each month on gas and car repairs.
- See how long it takes to charge your credit card to the maximum limit before you start college.
- Ask your parents to let you sit in on their monthly bill paying sessions.
“C” is correct. This will give you a clearer understanding of the expenses you will face. Also ask your family to take a look at your budget and help you set realistic spending guidelines. Their input may help you avoid unnecessary pitfalls.