By the time students graduate, they owe about $2,500 in credit card debt and about $10,000 in school loans, according to Michael Gutter, a UF assistant professor.
Gutter, who works in UF’s family, youth and community sciences department, was just one of the finance specialists who offered advice to a crowd of about 50 at the Florida Gym Thursday night during Savings in the Swamp, a money management workshop for students.
“People who are heavily in debt are less productive,” Gutter said. “Knowing how to use a credit card is the first step.”
Kristin Jackson, student coordinator of Savings in the Swamp, said many college students do not know enough about managing their money to make educated financial decisions.
“We wanted to go beyond the classroom to help educate anyone about creating good financial habits,” Jackson said.
Representatives from local Gainesville financial companies encouraged students not to buy things on impulse and develop a spending plan.
UF freshman Dean Tzobanakis said that before college he wasn’t responsible for managing his money.
“Coming to college and having to start paying for things on my own definitely makes me live on a tight budget,” Tzobanakis said.
