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Michigan State University

How to not stay young and penniless

How to not stay young and penniless

When I was in my early 20s, I was living in a mouse-infested apartment and counting every penny.

If you're young and in a similar situation, let me tell you from experience: There's hope! Your diet, one day, will include more than ramen noodle packs and you won't have to snuggle up with a mouse at night.

But a better financial future takes effort and good advice.

Be realistic about student loans: Many students need to borrow money in order to pay for college. But Mark Kantrowitz, a student loan expert, said it's imperative to keep that debt "in sync" with your potential income.

"Education debt may be good debt because it is an...