[November 08, 2009] New students need to learn about money, too Tweet Nov 08, 2009 (The Oklahoman - McClatchy-Tribune Information Services via COMTEX) -- Moving to college can be exhilarating -- or terrifying -- for students and their parents. For many students, college is their first experience with independence and its responsibilities. Lance Millis, an administrator at Oklahoma State University, says having a schedule and a budget in place will ease the transition into college. Millis said families should sit down and talk about money before their student leaves for school. Expenses to consider include tuition and fees, room and board, telephone bills and other utilities, food and gas, and spending money. "Try to predict any additional expenses you can," Millis says on his Web site www.collegeanswerguy.com. For example, if you're a huge basketball fan, you'll need basketball tickets. Get out a spreadsheet or piece of paper and plot out where and when those expenses will occur." Timing is important If a student's money all comes in at the beginning of a semester, then planning ahead will be essential to staying solvent. Families should also talk about responsible credit card use. Millis says budgeting time is also essential. Students should organize and prioritize school and extracurricular activities. A calendar or planner can keep students on track and on time. Here's some advice from NewsOK.com readers: --Tim from Yukon: "Balance your workload. Classes vary in difficulty by either subject matter or amount of homework. Ask around. Don't take four classes you know are all very difficult. Balance it with two electives or other classes with lighter workloads." --Kenya from Durant: "Don't lose your common sense, and remember your parents are only a phone call away." --Brett from Oklahoma City: "The one thing that is not taught in college is common sense." --Doug from Midwest City: "Leaving shirts out for several days is not the same as washing them. And when it sounds like a good idea, it seldom is. Join a club or group to help socialize, and most importantly, you are now responsible for doing your homework." To see more of The Oklahoman, or to subscribe to the newspaper, go to http://www.newsok.com. Copyright (c) 2009, The Oklahoman, Oklahoma City Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]