A Financial Story

Danielle, Class of 2006

I took out student loans from my credit union for educational purposes so just for tuition and books but that is it and any other educational costs that came up, never for personal use. the thought that I always had to pay it back was always in my head so I never bit off more than I could chew and it has worked out very well for me.

Learn more about Danielle's experience

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Top 10 Money Mistakes

1. Making poor credit card choices
   • Don’t be fooled by campus solicitations
   • Read the fine print
   • Pay off the balance each month
   
   
2. Spending money due to peer pressure
   • Focus on campus activities with food and t-shirts
   • Stick to the meal plan
   • Rent movies, campus movies, matinees
   
   
3. Not setting a budget
   • Plan ahead, know how much money you can spend each month
   
   
4. Not seeking out the best bank rates
   • Research banks with free checking and savings accounts
   
   
5. Overpaying for school
   • Select a smaller meal plan
   • Choose a less expensive apartment or residence hall
   • Buy and sell used books to friends or the bookstore
   
   
6. Not keeping track of bank account balances
   • Balance your checking accounts
   
   
7. Lending money to friends
   • This includes picking up tabs
   
   
8. Failing to research product pricing before purchasing
   
   
9. Not planning for the future
   • Money invested in retirement funds will grow with interest
   • Getting started early will pay off later
   
   
10. Not having a part-time job
    • Earn extra money and prepare for life after college
    
    

11. Source: National Student Loan Program