Your post-graduation life will largely be about paying off the debts you accumulated while in school. Avoid these very common financial mistakes to make your life in the ‘real world’ less of a strain:

The credit card hole…

Sometimes credit can seem like an easy way to fix your problems or get what you want quickly. But the truth is that adding to the already massive student loan debt you are accumulating will weigh down your ability for success, your credit rating and your freedom. That is a lot of stress and debt to have on your back before you land a real job. Credit cards are a good thing if you are able to pay off the balance and create a strong credit history. But do not allow yourself to fall into the minimum payment cycle and subsequent interest hole.

Not budgeting your student loan funds…

Never forget that your student loan is for the essentials: tuition, books, transit and living expenses. Make sure that upon receiving the loan you take the time to hash out how much your year is going to cost and how much you have to spend on the different facets of your life. Many people get over excited when a large sum suddenly appears in their bank account. But university is extremely expensive, and the money is never as much as you think it is. Be careful and keep your receipts and a list of your expenses at all times. Be in control of your debt.

Failure to meet with academic advisors…

Academic advisors are detrimental to your success in post-secondary. It is important to see them regularly from before you actually begin school to your very last weeks as a student. It is their job to help you sign up for the correct courses, ensuring that you do not take any courses that will not count towards your degree or ones that will slow down the graduating process. Oftentimes, failing to meet with an academic advisor can result in the loss of thousands of dollars and time. For instance, if you miss a required class, it can entirely throw you off the correct track to graduate at the time you wish.

Playing around with ‘drop dates’…

Do not forget about the deadlines for dropping classes. If you wait until after the drop date you are waving goodbye to hundreds of dollars rather than receiving a full reimbursement. Remember that taking classes seriously means taking your money seriously. Without commitment you may receive a grade that will not count towards your degree and that is simply a huge waste of time and money.

Ignoring scholarship opportunities…

There is SO much free money out there. Apply for as many scholarships as possible and chances are you will get at least a few small ones. Set time aside to write letters of intent and have your resume ready and you could easily have a semester paid off. Speak to academic advisors about this, actively use university search engines and speak to your family and about work and organizations they may be involved with that provide scholarships.