Beware of free smoothies and pitas.
A group of panelists advised students against registering for credit cards with restaurants, even if they offer free food as incentives.
The Institute of Hispanic-Latino Cultures, the Institute of Black Culture and Off-Campus Life hosted "Where's My Money At?" - a financial aid workshop featuring a panel on financial literacy for UF students Monday night.
Panelists answered questions about budgeting, credit reports and saving money while in college.
"A good rule of thumb: The same place you eat in should not be the same place you earn credit in," said Ron Anderson, associate director of Student Financial Affairs.
Students need to watch out for identity theft and pay attention to whom they're giving information, Anderson said.
Students should track credit reports yearly even if they don't think they have credit, said Nora Kilroy, director of Off-Campus Life.
"You can make payments on time and still have fraud destroy your credit," said Eric Stange, vice president of Wachovia Bank.
Students should still be wary about where they get their credit reports. Despite their catchy jingles, FreeCreditReport.com is not actually free, said Katie Ware, a UF public relations senior and intern for MasterCard Worldwide's "Are You Credit Wise?" campaign.
Kilroy advised students to use AnnualCreditReport.com, which offers one free report a year.
Stange advised students to only put purchases on their credit cards they can pay off at the end of the month.
It is important for students to learn how to make a budget with needs like rent and tuition at the top and wants at the bottom, Ware said.
"A lot of students, if they go to the ATM and money comes out, they think they're on a budget," said Anderson.
He advised students to write down all of their expenses for a week to see where the money really goes.
Ware said the panel will be held again Tuesday in Reitz Union rooms 346 and 347 at 11:45 a.m.
