01/18/2011 11:19 am ET Updated May 25, 2011

8 Misconceptions College Students Have About Money

Between the plethora of iPhone apps that help budget your lifestyle, and free access to Web-based financial literacy programs, there is no excuse for college students to be reckless and ignorant with their personal-finance habits.

College is the perfect opportunity for students to take hold of their finances and establish smart spending habits that will follow them into the real world of paychecks and mortgage payments.