College is an age characterized by impulsive behaviors, rash decision-making, andexcess spending above all else. It’s easy to make mistakes when you’re young because you have room to fall down and recover. Plus, you’ll benefit because making a financial mistake and experiencing the loss associated with it will leave a greater impression and allow you to avoid similar financial mistakes in the future.
But with that being said, there’s a saying from German chancellor Otto von Bismarck that goes something like: “Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” Obviously, this means that you don’t have to trip and fall to realize that there’s something that’s making you trip – you can learn by watching someone else do it. That’s what this article is about: these financial tips will help you develop your financial senses and prompt you to think twice when making expensive purchases.