Financial Basics
A Money-Management Guide for Students

Acknowledgments

Introduction

PREPARING TO GO TO COLLEGE

  • 1  My First Checking Account 
Building money-management experience with a checking account 
before leaving for college 
  • 2  First in the Family 
Gathering information about potential college choices, seeking out experienced help, and student financial aid resources
  • 3  Budgeting for College 
Creating a realistic spending plan, simple ways to monitor spending,
and understanding your financial nature and personal spending 
patterns

WHILE IN COLLEGE

  • 4 Facts of a Financial Life The basics of money management so you don’t have to learn
 the hard way 
  • 5  Know What You Owe 
Ways to determine how much you can safely afford to borrow for
your education, being smart about choosing your loan package,
and the consequences of dropping out of school
  • 6  Credit Card Phobia 
The pros and cons of credit cards so you can be cautious about
 credit cards without being afraid of them
  • 7  Spend, Spend, Spend 
The pitfalls of trying to keep up with others who have more
 money, techniques for dealing with this, and how ignoring the
 rules for debt and student loans can change your life
  • 8  Building a Credit History 
Why you need a good credit history, how your credit score is
 determined, and how to ensure you leave college with a good
 credit rating 
  • 9  Car Crazy 
How to make decisions on acquiring those extra things you
 want but may not need for college
  • 10  I’ll Think About It Tomorrow 
The dangers of ignoring financial responsibility and how to
 cope with the habit of procrastination
  • 11  Now Where Did I Put That? 
What documents to save, how to store them, and security issues
 for your sensitive financial information

AFTER COLLEGE

  • 12  What’s Next? 
Financial planning for life after school—establishing priorities,
debt payoff plans, savings plans, and retirement plans
  • 13  Investment Basics 
First steps in starting an investment program

BEFORE, DURING, AND AFTER COLLEGE

  • 14 Your Personal Money Philosophy Developing principles to guide you through your financial life
  • 15  Your Story 
Recording your money-management experiences as a way to
 pinpoint your financial strengths and weaknesses
  • 16  A Note to Parents 
Financial considerations for parents with college-age children and 
ways to help their student understand money-management issues
  • 17  A Postscript to Grandparents 
Ideas for grandparents who want to aid their college-bound grandchildren—financially or in other ways

Glossary of Financial Terms

Helpful Apps and Websites

Index

 

Praise for 1st Edition

Financial Basics is essential reading for any student

“Susan Knox’s Financial Basics is essential reading for any student attending college. Along with a good hug, parents should give...

—Myles Brand-President, NCAA, former President Indiana University and University of Oregon

1st Edition
2016-07-11T17:01:57+00:00

—Myles Brand-President, NCAA, former President Indiana University and University of Oregon

“Susan Knox’s Financial Basics is essential reading for any student attending college. Along with a good hug, parents should give this book to their sons or daughters when they begin college. It does not matter whether it is a residential experience or they are living at home and commuting. Every college student will benefit. In addition to providing practical and valuable advice, presented in a very readable format, Financial Basics is a seatbelt against financial problems.”

A must for parents and students

“Students have a great deal to manage in their lives away from home—from their coursework to relationships to personal decisions—one...

—Karen A. Holbrook, President, The Ohio State University

1st Edition
2016-07-11T17:04:25+00:00

—Karen A. Holbrook, President, The Ohio State University

“Students have a great deal to manage in their lives away from home—from their coursework to relationships to personal decisions—one of which is how to manage their finances. This book provides credible examples to head off problems and engages both students and their families in preemptive planning not only for college but also for life. A must for parents and students.”

Ms. Knox has written a very helpful and accessible guide

“Financial Basics has the potential to make an enormous difference in the lives of college students.  Research shows that financial...

—Martha Garland, Dean of Accademic Affairs, The Ohio State University

1st Edition
2016-07-11T17:07:04+00:00

—Martha Garland, Dean of Accademic Affairs, The Ohio State University

“Financial Basics has the potential to make an enormous difference in the lives of college students.  Research shows that financial problems present some of the biggest obstacles students face in achieving academic success, or even being able to stay in school.  Ms. Knox has written a very helpful and accessible guide; it should be required reading for everyone heading off to college.  Or for that matter, for anyone who’s finding that money problems are tripping them up in their efforts to live effective lives.”

I think that Financial Basics should be a standard part of a college’s new student orientation program

“Financial Basics: A Money-Management Guide for Students by Susan Knox is an engaging and insightful primer aimed to help young...

—Jim White, Director, Student Financial Services, Seattle University

1st Edition
2016-07-11T17:08:12+00:00

—Jim White, Director, Student Financial Services, Seattle University

“Financial Basics: A Money-Management Guide for Students by Susan Knox is an engaging and insightful primer aimed to help young people learn to manage their finances.  This book will give practical advice to help the reader avoid many of the common problems encountered by young people who, for the first time in their lives, are responsible for managing their income and expenses.  Financial education is sorely missing in our culture. Many parents have poor money management skills.  I think that Financial Basics should be a standard part of a college’s new student orientation program.   Financial difficulties is a significant cause of students dropping out of college. Susan Knox’s book will help colleges retain students by providing the basic tools needed to effectively manage one’s finances.”

This book is a must-have for all incoming freshmen

“This book is a must-have for all incoming freshmen or for anyone who wants to finally learn the true basics...

—Anne H. Chasser, Commissioner, United States Patent and Trademark Office

1st Edition
2016-07-19T17:33:20+00:00

—Anne H. Chasser, Commissioner, United States Patent and Trademark Office

“This book is a must-have for all incoming freshmen or for anyone who wants to finally learn the true basics of personal finance. By sharing her story and stories of others, Susan Knox has made the journey in successful money management real and understandable.”