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All too often people make the mistake of thinking that they are

capable of handling their own finances without any worries at

all. However, in most cases people learn rather quickly they

cannot handle their own finances without help or assistance from

anyone else. However, with some simple tips and advice people

can now be assured that they can handle their personal finances

quite easily.

College students are usually the worst people at managing their

money and they need the most assistance. Some college students

are away from home for the first time and they are eager to

start spending their money on the various things that they want.

Here are some tips that can help these people handle their money

better and make it last longer. When you are in college it is

very important to make your money stretch as far as it can.

There are some simple rules to personal finance that are

intended to help and if used correctly they will lead you on

your way to financial comfort and freedom.

1. You should always put money away for an emergency. The

recommended amount of time that you should save money is

anywhere between six months to a year. This should be put into

an account in which you cannot withdraw money for a specified

amount of time or for a specific reason. By having the money in

such an account you know it will be there any time you need it.

2. You should always pay off credit cards that have the highest

interest rates first. While doing this you can continue to make

the minimum payment on the card that has lower interest rate

while paying a little more each month on the higher card.

3. If you are not sure where you are spending all of your money

then it might be a good idea to start keeping a diary of some

sort where you record your spending each day. You should record

everything that you spend than at the end of the week or month

you can sit and determine where you spend the most money and if

there are any areas that you can cut out.

4. While you are trying to save money people sometimes make the

mistake of thinking that charging things to a credit card will

help them save. This is completely wrong. If you want to save

money then you need to stop charging and pay cash whenever you

can. The cash may be gone but you don't have to worry about

making continuous monthly payments.

5. Avoid pressure to spend money. IF you do not want to spend

the money then don't. That is the simplest of all rules. Do not

let others pressure you into spending money unnecessarily.

About the author:

James Hunt has spent 15 years as a professional writer and

researcher covering stories that cover a whole spectrum of

interest. Read more at www.1st-for-perso

nal-finance.info

Written by: James Hunt