1. Treating Credit Cards like Free Money
Credit card companies love college students because college students tend to do exactly what credit card companies want them to do: rack up huge balances, pay the minimum payment and allow interest to balloon.
It’s a good idea to get a credit card while you are in college so you can build up your credit score. However, if you follow the pattern described above, then it will be counterproductive. You won’t build up a good credit score and you’ll start your adult life deep in the hole.
2. Eating Out a Lot
Eating out is a huge, unnecessary cost. Its appeal is obvious: You get instant gratification. On the other hand, you waste hundreds of dollars a month. Save eating out for special occasions. Cook at home more and/or use the meal plan that you’ve already paid to use.
3. Laziness with Financial Aid
Many students take out far more loans than they have to because they’re lazy with financial aid. Instead of taking the time to research and apply for scholarships, they take the easy route and apply for easy student loans.
Taking time now to find financial aid will save you money and stress in the long-term.
These three mistakes are simple, but avoiding them will save you A LOT in the long term.