I’m MD and I’m here to talk about money—how boring is that? Well it can be very boring. Fortunately for you guys, I’m a completely down to Earth dude that brings a common sense approach to money and everything money related. I’m not the guy that works 24/7 and has no life, just to proudly proclaim my “debt free” status. Sure I do work hard. I also enjoy my sports and my entertainment even more. I will never suggest to you guys that you sacrifice your college experience just to save money. I want everyone reading this to make conscious financial decisions while still having some fun!

What can you expect from me? Lots of different topics. I will share my best financial decisions made in college. I’ll also share my worst decisions. I will discuss topics relating to entertainment, nights out, dating & money (fun stuff!), and yes the inevitable- life after college.

I hope you guys welcome me into your community. I have more to learn from you guys than you do from me. I’m looking forward to reading your opinions on some of the concepts that I’ll write about here.

**************************************************************************************

College can be the most fun filled time of your life. You’ll meet new people, experience new things, and come out with a different outlook on life. Something else will happen that can drastically alter the next few years of your life. You will begin to deal with money and financial independence for the first time in your life. You could either become financially responsible or you could rack up massive amounts of debt (student loans, credit card, etc.). This is why I wanted to outline my best financial moves I made in college (don’t worry I’m not a know-it-all, I’ll be looking at my worst moves soon)…

Get into the habit of saving money.

This may sound really simple and it is. Fortunately, the habit of saving money is also very effective. Some people smirk at the thought of saving a miniscule amount like $20. The goal here is not to save a million bucks and buy a home in L.A. The goal is to get into the habit of saving money and hopefully make it an automatic process.

Once you get into the habit of saving money, you’ll suddenly realize that the $20 a week is over a $1,000 a year. Having over $4,000 in a savings account when you’re done college isn’t so bad, is it? After three weeks, $60 in your bank account won’t feel like anything special. Once you hit the $500 mark you’ll suddenly feel proud of this small win. You’ll realize that minor modifications to your spending could really beef up your savings over time. Once you get into the habit of saving money the possibilities are endless.

Maintain a steady income.

You don’t have to work during exam season, but I’m sure you can fit in hours to work during the school breaks and slow periods. Jobs you can perform while in college is another post for another day. All I’m suggesting is that even if you work a few hours weekly at a part-time job, you can make a serious dent on your debt, possibly build your savings, and have more money to enjoy your college experience a little bit more.

Create financial responsibility.

Yes, you can create financial responsibility. What I did to create financial responsibility is actually really minor. I automated my gym and cell phone bill payments to my credit card. As irrelevant as that may sound, it put me in a situation where I had to ensure all payments were made and that I had enough money in my checking account to transfer to my credit card at the end of each month. It’s nothing groundbreaking but I put myself in a position where I had to have control of my finances. Without financial control/responsibility these subscriptions would’ve racked up on my credit card, costing me interest, and putting me into debt. Become financially responsible as early as possible and you’ll reap the benefits as you age through your 20s and you’ll reap the benefits as you age through your 20s.

Pay off your credit card balance!!!

Okay I’m not a hypocrite. I won’t tell you to never use your credit card because you won’t listen and it’s unrealistic. There will times (last minute hot date or Chem lab fees) where you have to use your credit. There’s nothing wrong with that as long as you ensure that you pay off your balance when it’s due. Always. No exceptions.

There you have it guys. The four moves mentioned above can really put you in a solid financial position while in college.

Did I miss anything?

• My Husband Saved Us Money on Car Insurance We didn't switch to GEICO and it took longer than 15 minutes, but thanks to a phone call we saved money. My husband called Progressive to inform them of our move. He had to be switched a few times as we went from an agent in one state then......
• Automation: Better Control or Loss of Control? I was reading Baker's thoughts on automation in his new guide and he brought out something I hadn't really thought about before. Many personal finance sites talk about automating your savings, retirement, and bill payments. It's thought of as a great solution to your financial problems. I definitely have seen the benefits of it.......

• Have You Thought About A High Yield Savings Account? Saving a percentage of your income in a savings account is an important part of remaining debt free.  Having savings that you can access in the event of an emergency reduces the chances that a financial emergency will leave you with insurmountable debt or will require you to pay high......
• Weekend Personal Finance Links (Tuesday Edition) If it's good enough for Sheryl Crow ("He's got a daughter he calls Easter... She was born on a Tuesday night..."), it's good enough for me. Money Writers: Brip Blap wonders will people change? Frugal Dad writes on extreme saving when you are young: how much is too much? Learn......