For many students, college is the first time they will face the world of credit card offers, bills, loan offers, spending temptations and budgets.

In a small way, it really is a taste of the real world because the financial responsibilities lie solely with the student.

With this new responsibility, many students have to make very important decisions on how they spend their money. Unfortunately, mistakes can easily be made without proper planning and budgeting.

Common Money Mistakes

The common money mistakes most people make when they start out are not keeping track of expenses, being unaware of credit card purchases, spending all their money at one place at one time and bouncing checks.

Not Keeping Track Of Expenses

One of the most common mistakes people make with their finances is not keeping track of where their money goes when it is being spent.

A typical scenario would be a college student using their debit card to purchase snack food items from the campus bookstore or convenience store.

While using the debit card may be convenient and the cost of the items comes to 5 to 10 dollars, those dollars will add up if this transaction occurs every day.

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