Of the many reasons you'll want to watch your money closely, there's this; the cost of a college education.
Some students at the University of Illinois Springfield say they're racking up tens of thousands of dollars in debt each year.
According to Collegedata.com the average cost to attend a private college is more than $30,094. For in-state residents at public universities, it is $8,893. And the price tag for out-of-state residents attending public universities is $22,203.
Students struggling to manage their money and get an education are well aware of the financial strains it puts on them, and their families.
"Scared! I need to get a job, because I'm still applying for jobs right now." Said Infiniti Starks, a freshmen at the University of Illinois Springfield.
Another freshmen at the University of Illinois Springfield, Marvell Anderson also shares this cause for concern. "That's a lot of money. So I'm kind of scared, but at the same time I can't really focus on that," he said.
Those two students say they're focused on getting an education first, and then getting a job after graduation to pay off their student loans.
Here are three things, you can do, to keep your debt under control:
First, don't borrow more money than you must. Remember, you have to pay it all back, at some point.
Second, keep track of how much you owe. Knowing this will keep you focused.
Third, when the time comes to pay it back try to pay more than just, the minimum amount due.
The class of 2013, according to a survey, faces an average of more than $35,000 in debt.
This story was featured on WICS on Monday, October 6, 2014.
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