Students and grads: avoid credit-card debt and find work

Dear readers, job-seekers, students and graduates, Don't let my generation's poor management of its money be your guide; be smart and get started with organized personal finance and the other necessary investment: networking to find a job. Both endeavors will serve you well.

This year marks passage of the Credit Card Accountability, Responsibility and Disclosure Act: credit card companies cannot issue cards to those under age 21 without an adult co-signer or proof of adequate income. Fact: Every year, Americans pay around $15 billion in credit-card penalty fees. Don't be one of them.

Here's how:

• If you can't afford it, don't buy it. Yes, I know it sparkles, but do you really need it?
• Make a budget and check it monthly. Here are some of ours.
• Save money, even if it's only a little at a time. You'll be glad you did, when you need it.
• Instead of credit, consider a microloan.
• Pay your bills on time. Unable to? Call and work out an agreement. It won't hurt.
• Avoid surprises: Check your credit score and verify what is on it.
• Need money for school? Start with the very-easy to remember ed.gov.

Working for a cause you believe in can lead you to getting rewarding work and making much-needed connections, which are as valuable as the money you save.

• Build connections and volunteer.
• Have a good idea for a volunteer project?
• Need real money? Follow where Recovery Act money is going. US states and territories each have a Web site you can check for allocations.

Students, parents and administrators, we have some great stuff for back to school: Back to class with OneNote, and tons of useful templates.

There are few things that are more rewarding than to watch young people recognize that they have the power to make their dreams come true.
- Michelle Obama, First Lady of the United States

- Ed