Heading to college or university? Follow these smart money habits Aug 13th

With freedom comes responsibilities: attending classes and studying while also maintaining a social life and making time for chores, meals and maybe even a part-time job—all while trying not to let any debt spiral out of control.

“A lot of things change financially for you when you turn 18,” said Shannon Lee Simmons, a Certified Financial Planner and founder of New School of Finance. Students entering post-secondary might want to apply for credit cards, open a chequing account and will likely now find themselves responsible for day-to-day expenses, she said. “There’s big financial stakes and your first time doing it in a big way, all happening at the same time.”

Several studies have highlighted the financial struggles of post-secondary students over the years, as costs for tuition, books and meals increased—adding stress to an already-long list of concerns young adults are dealing with today…