BBB: Managing money one of college’s most important lessons

By this time of year, incoming college freshmen and their families have been consumed with college preparation.

Financial issues should be as important in your planning as dorm furnishing and class scheduling. Most students entering college from high school are inexperienced in financial matters.

They are about to be “on their own” for the first time in their lives. Errors made in the handling of money can haunt young students for years to come.

Shopping tips

As you shop for dorm furnishings, electronics and clothing, keep these pointers in mind:

Spending advice

US News and World Report recently asked several financial experts for their advice to incoming freshmen. Here are some of their cautions:

Learning how to manage your money can prove to be the most useful lesson acquired during the college years. The consequences of not learning this can be more serious in the long run than failing an academic course.