Here's an email I recently received from a reader:
I've read your blog for a little while now, your posts are very helpful and make for an enjoyable read. But what further advice would you give to a college freshman?
For instance, I just turned 18 and set up my own Checking and Savings accounts apart from the savings account previously held under my parents' account. What specifically can I do right now to set myself up for financial success? Because of college bills, I won't have much money to use but I'd like to get some kind of "head start" on my future finances. I'm trying to read a few financial blogs to at least get informed on personal finance but I'm still unfamiliar with many terms and processes. I'm going to a private school with about 1/3 paid for by scholarship, and the rest to be covered by myself and my parents -- without loans.
What would you advise?
I sent him a few suggestions, but thought you all would have some wisdom to share. What's your advice for him?