Read “˜Your Money’ to make your life richer

I’m going trick-or-treating in Bel Air tonight, and
I’m convinced the booty I make off with will be enough to buy
groceries until Christmas ““ or at least will serve as
groceries until Christmas. Like so many college students, I
don’t go to the supermarket often. I don’t have the
money.

Instead, I rely on freshmen swiping me into the De Neve Dining
Hall and my roommates giving me semi-spoiled food. The story may be
the same for you.

But you aren’t poor. I know it seems like you are: Your
credit card bill is never paid off; you’re working three
part-time jobs to keep your classes from being dropped, and last
month’s bank statement says you have overdrawn your account
by $200.

In a world where money grows on metaphorical trees, you are not
broke, just uninformed. Because unlike at the end of a rainbow,
there is a pot of gold out there, just waiting for someone to
snatch it up.

But it’s not easy for anyone, especially for college
students.

There is little encouragement to get your finances right during
college. Your friends would rather you buy them a round of drinks
than enhance your stock portfolio ““ and with the current
behavior of the stock market, you probably would too.

“What can I do?” you ask. The options are
innumerable.

Start by keeping a log of where you spend your money and
actually put money into a bank account. No, the safety deposit on
your apartment does not accrue interest ““ unless you damage
your apartment, and then it works in favor of your landlord.

Learning how to handle your finances in college is important
because it is when people build habits that will last forever.
Trust me, your credit card bill will never get smaller unless you
pay more than the minimum. And creditors know college students
follow the low-APR carrot being dangled in front of them. In fact,
many creditors know that if they can trap a college student in
debt, the individual will probably never get out.

You may be wondering what wisdom I can offer you. Little. Ever
hear the parable about the blind leading the blind? That is what it
would be like if I was telling you how to start a business in
college or how to save for retirement. Don’t worry, I’m
not here to lecture you; I’m here to let others lecture you.
(And this lecturing will be done in a completely non-lecturing
manner.)

The content of these lectures, which for journalism’s sake
we will call “columns,” will vary from week to week. No
matter what the topic, every column will be designed to help you
maximize your money. Wow, I like that. I think we’ll call it
“Your Money.”

If it’s about your money, I am going to need your help.
E-mail [email protected] and tell me the concerns of the
all-too-real starving college student.

There is almost no chance this column will change your life, but
it just might make it richer.

Greenberg is the Finance & Economy editor. “Your
Money” will run every other Friday.