College classes are about to begin. What are some common financial mistakes freshman make?

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Freshman year is a year of large changes for most students. It marks the first steps into independence, the first time away from home, the first time she is being recognized as an adult. However, because entry into college also many social and academic adjustments as well, financial challenges often become overlooked even though financial decisions are made on a daily basis.

Multiple studies have shown that establishing good financial habits as soon as possible is very important. Since college is most likely the first time a student has had control over her everyday finances, early in freshman year is the perfect time to learn.

Some of the most common mistakes made by college freshman include:

1) Not Creating a Budget
2) Overspending
3) Overlooking Discounts and Other Types of Free Money

For more on this topic, check out our new article this Thursday.