Is it too soon to start thinking of a financial plan when you barely have enough money for books, rent and pizza? After all once you have completed school you will have a good paying job and time to figure a plan out. But good habits start early. If you start working a plan early in life you will have the satisfaction of financial independence sooner.

Ways to lead you on the road to financial independence.

1. Limited the use of credit cards.

   It seems that credit card companies prey on college students. They offer little perks such as meals, draws for cars, etc. in order to give you a credit card with very high interest. Did you know that, "University administrators state that they lose more students to credit card debt than to academic failure?" (Utah Mentor, 2003) and 48% of American credit card owners, only pay their minimum monthly payment each month. (source - Senate Resolution 48, 2003)

   If you are going to have a credit card, get one with no fees and try to pay off the balance. Don’t be vulnerable. Is it worth buying a pizza now on credit and knowing that in six years time it will be paid off? BUY NOW PAY NOW.

2. Managing your money

   Look at your short, mid, and long range goals. Seek out trusted advice. It is crucial to spend your money wisely using a good budget. Learn to enhance your basic personal finance skills by taking a course or two.

3. 3. Pay off the loans

   If you are a typical student you will have a bunch of loans to pay back. According to USA TODAY, "Federal student aid has shifted from mostly grants to mostly loans. In 1989-90 the percentage of grant and loan money was almost even. Today 59 percent of all aid is loans and 41 percent is grants." While in college, it would be a good idea to figure out a way to pay back the money owing.