Managing Finances While Still In College

The economic slowdown has led to an added worry for college students. Not only must they worry about getting a job but financial experts say they must also learn how to manage their money.



"I think the problem right now is that students aren't planning ahead and are abusing their credit," says Mitchell Franklin, a professor of finance at the Whitman School of Management at SU. "They don't plan for the future."



Tiara Green, a Syracuse University freshman said she hadn't really started thinking about it because she was only a freshman. "I have two years to really start thinking about it." According to Franklin, however, students should start thinking about their financial future as early as high school.



Not all students are laid back though when it comes to their financial futures. Mackinze Brown, a Syracuse University senior says he is paying $200 a month in order to pay off his loans.



Many students are counting on their parents to help them out financially but Franklin says that parents can't even manage their own finances. He says one of the biggest problems is that it is too easy to get credit from banks.