With college students entering

the real world, where there's a downed economy, the financial

status of students across the country is becoming more and more of a concern.

To put worries to bed, a little bit of knowledge about actions students can take to prevent financial

strains, the fight to save money may not be as hard as imagined.

"I've seen firsthand those who have been careful with their money

and the power and freedom it gives them," said Kathy Harmon, executive director of financial aid and student success at the University

of Dayton.

Working with financial aid and scholarships for seven years, Harmon has dealt with financial

budgets herself. She's been involved in fundraising for five years, as well as contributing to her family's finances.

"My experience also includes raising a family on a budget, sometimes making difficult financial

decisions based upon fiscal

realities," she said.

Harmon has offered three important

tips of how students can be financially savvy in this economic

uncertainty.

Know Where Your Money is Going:

"I have met with students who are in financial trouble, yet have the most advanced cell phones, electronics and very expensive clothes," Harmon said. "It really is about the choices one makes and making sure we are intentional

in our choices so that we will have the freedom that comes with fiscal responsibility."

Beware of Credit Card Debt:

"It is extremely easy to become overwhelmed by credit card debt, especially for students who have taken student loans as an investment

in their future, the additional

credit card debt is a burden on their future," she said.

Save:

Harmon said the amount spent on what we buy will be most surprising.

"You may be surprised how much you are spending, and on what," she said. "Make an intentional

effort to take some of that money and essentially pay yourself

by saving."

Economics professor Ralph Frascas teaches personal finance and wrote Personal Finance: An Integrated Planning Approach. In a recent press release he offered a few more tips to help students become

aware of their finances.

Avoid ATM fees while keeping up with debit accounts.

Due to some money being taken

out of an account each time a withdrawal is made, this can definitely

add up. Keeping records of this is helpful.

Shop for Student Loans Early:

Because of more amounts of money being lost everyday due to the economy, loans may get scarcer. Looking early will be beneficial.

Keep Health Insurance:

Some students don't get jobs directly

after graduation and aren't on their parents' plan any longer. Therefore, it's probably best to stay insured in case of emergencies.

Along with these tips, college students can also get some great advice from a course here at UD. The Office of Financial Aid and Student Success will offer classes dealing with these issues in fall and winter semesters of the 2009-2010 school year.