It’s easy to throw down your MasterCard and forget about how much your text books cost for the semester; it’s just as simple to open a tab at Happy Hour and let the Bud Light flow.  We all eventually realize, however, that college flies by in the blink of an eye, and before you know it, you’ll be on your own.

With the economy in peril, now is an especially good time to start keeping an eye on your credit score so you don’t find yourself denied when you try to open new bank accounts, get a new apartment, condo, or house, or reward yourself for landing your dream job by buying your first brand new car.  Maintaining a good credit score doesn’t have to be harder than next Tuesday’s cumulative Calc exam, though– here are five simple steps to stay on top of your financial game.

1.  Get a credit card.

This might seem like a no-brainer, but I know a lot of people who are adamantly opposed to credit cards.  How they live without them, I don’t know. Personally, I am always prepared to whip one out in case of an emergency (like when my gas tank is below empty and I try my luck at the commuter lot at school).  Hey, if you can get by without a credit card, you win my admiration, but you can’t build credit if you never have any to begin with.  Get a credit card, and charge a couple small things each month- paying your bill in its entirety will show how well you handle your money.

2.  Put your name on the bills.

It’s a luxury to have parents who help you out in college.  However, if the ‘rents pay your cell phone bill, sign for your campus housing, or let you drive their car around for four years of higher education, you won’t have very strong credit references when it’s time to get out on your own.  Many apartment complexes want to see that you’ve been a good, rent-paying tenant in the past, for example.  If you only have your parents’ credit to go by, they might have to co-sign for you as gauranteurs, which still doesn’t necessarily prove how responsible you are when it comes to managing bills and paying off debts.  Even if you start small, like keeping a cell phone plan in your name, you’ll be off to a good start.

3.  Pay what you can..and pay on time.

Not paying your CC bill will result in a hefty fine, as will paying your rent or other bills by the due date.  If you find yourself struggling at the end of the month, prioritize your debts.  Pay the car payment in its entirety, and send American Express the $20 minimum payment.  Don’t squeak by with small payments every month, though – as far as credit cards go, your score is measured in a ratio of debt vs. available funds.  Paying the min will result in a finance charge, which could make your balance stagnant (providing you aren’t spending more each month).  So if your credit card limit is $5,000, and your balance has been a steady $4,500 for the past few months, your score will take a hit.

4.  Keep old accounts open.

Remember the time you signed up for a card because you wanted a free T-shirt, and then realized you didn’t need a third credit card? Keeping that account open will actually look good on your credit report.  If you don’t have to pay a fee to keep it, it won’t hurt anyway.  However, if you continually max out your cards, transfer your funds to a new card, and close the first account, your spending will look sporadic and unorganized.  Really, you can avoid this altogether by finding one or two really good credit card deals that you can use for years, but if you’ve paid off your debts on one card and really want the Delta Skymiles Platinum so you can earn enough rewards to fly to Hawaii this summer, there’s no reason to reach for the scissors just yet.

5. Keep an eye on your credit score.

This way, there won’t be any surprises.  If you see your score start to slip, you’ll be aware and can re-anaylze your spending and try to get those numbers back into good standing.  You’ll also be able to monitor your activity and prevent fraud, identity theft, or unwarranted charges.  Check out FreeCreditReport.com or speak to a financial expert to figure out where you stand right now.

Getting into these simple habits won’t just help you establish a good credit report while you’re still young, but you’ll start to develop healthier spending habits to keep your credit shining as you begin your real adult life of mortgages, car payments, and starting a family. Really, these things should come naturally, but are overlooked by millions of people, young and old, across the country.

And hey, it’s quicker than checking a Facebook minifeed, so what are you waiting for? Fill out your first credit card application, check your payment due dates, and try to get an idea of where you stand in the realm of debt and credit.

If you disagree with everything I just said, you probably don’t need this column. But if you’re nodding along because you’re officially an adult and still don’t know how to manage your money, then you might want to pay attention every week, because I’m going to (try to) get you through this, and make you a successful saver and a wise spender.]

Everytime you whip out the plastic at the grocery store, liquor store, or gas station, the cashier asks automatically, “Credit or Debit?” It’s a simple enough question, though to many, it may be redundant. I mean, who cares what type of card it is as long as it buys you a pack of smokes, a 30-pack, or a week’s worth of Ramen Noodles?

There are a lot of pros and cons to using both credit cards and debit cards, and many people adamantly side with one form of plastic or another, much like people adamantly side with either Obama or McCain. Personally, I’m a debit kind of girl. My brother, on the other hand, swears by credit. What gives?

A debit card is like your plastic checkbook. You might not need cash in your hand, but you need to have the funds in your bank account to make a purchase. A credit card, however, lets you splurge now and pay later– even in small monthly increments. In this case, the credit card may SEEM like it has its advantages, because you can pay for your spring break trip now, and spend the next three months waiting tables to pay for it.

But beware: the reason I personally prefer to use my debit card is because it prevents me from racking up thousands of dollars in CC charges, since it doesn’t feel like I’m spending MY money. For me, I’d rather balance my checking account daily, and say, “Ok, that’s $20 here and $40 there,” and always know what I have left. A credit card bill, to me, is like a tacky Christmas gift from your wacky aunt; you never think it’s going to be THAT bad, but when the big day rolls around… gag. I always think I’m on top of the world with a few hundred dollars locked away in the bank… then I get a 2K credit card bill, and it’s like I’ve been robbed at the end of each billing cycle.

Another thing to be wary of when using your credit card is the interest rate. Sure, there’s no hurry to pay off the last five bar tabs you’ve racked up on credit… but the longer you wait, the more you’re spending on nothing at all. The appeal of many credit cards is gimmicks like “No Interest for Six Months,” which is fine and dandy for six months… and then suddenly, you’re paying off the minimum balance each month and see the current balance rise nonetheless.

On the other hand, debit cards can smack you with hidden fees as well. Debit cards come in handy when you need cash- via ATMs or cash-back with purchase, but you’re bound to be paying a fee on your purchases, or on your withdrawals from foreign ATMs. You know how you have to accept the $2.00 charge when using a foreign ATM? These days, a lot of banks charge an additional service charge for using another bank’s withdrawal services. LAME.

Another thing I do hate about debit cards is that sometimes it can take a few days for your purchases to go through to your account. That means that if you went shopping yesterday, and check your account today, you might think you have more money than you do. Bars and restaurants can sometimes cause trouble because it takes longer for the tip to go through than the food/beverage purchase. This is rather inconvenient, and unless you balance your debit card account like you do your checkbook, it can be easy to overdraw or bounce a check if you aren’t aware of the charges that have yet to go through. Which brings me to another flaw of the debit card system…

If you overdraw or bounce a check, you will pay very, very dearly. I don’t balance my purchases like a checkbook, but I do check my balance every day. So, when my balance seemed to stay the same for a few days, I figured all of my purchases had gone through (I’d gotten pretty wasted the week before and didn’t know how much I spent at the bar, so I had to wait for the bad news). I went on spending again, and the day before my direct deposit went through, I discovered that not only had I overdrawn, but that I was being fined nearly $20 for EACH individual purchase that was over my limit. WTF? If you’re above your limit with a credit card it gets declined, but I guess banks just want to trick you into thinking you’ve got the funds if your card is approved, so that they can collect on your own irresponsible stupidity.

Now that I’ve given you the lecture on responsibility, let’s get to the perks. The reason we all want a credit card: the bonus points! Just about every major corporation has its own credit card these days, and for every dollar you spend, you get some sort of reward (Starbucks cards, 10% off at Target, airline miles, etc.). Some banks have recently started rewarding their clients with cashback points on debit purchases, too, but this is a relatively low-paying perk, at least in the realm of Poor Studentsville. My debit purchases are never as outlandish as my credit purchases, so I’ve only been getting petty change rewards so far.

If you think you can handle a credit card, and not run your financial reputation into the ground, maybe a credit card’s for you. However, if you like to only spend what you’ve got, stick with debit. It’s still a good idea to have both forms of plastic, but I don’t recommend filling every slot in your wallet with a different credit card. That’s just asking for trouble, especially when you’re on a budget, like many of us are.

If you want to find the perfect credit card, and really weigh all of the perks that come along with plastic, check out CreditCards.com. You can search and cross-reference a plethora of cards, until you find one that will reward you well. Happy spending, kids!

Ok, before everyone gets up in arms about every generalization I just made, let me clarify: if you disagree with everything I just said, you probably don't need this column. But if you're nodding along because you're officially an adult and still don't know how to manage your money, then you might want to pay attention every week, because I'm going to (try to) get you through this, and make you a successful saver and a wise spender. Starving college students of the world, I bring you Money Matters: a Guide to Handling Your Income (or Lack Thereof).]

This week, I’d like to introduce you to a splendid gem called Free Student Checking. Now, normally, banks will hold your money for you, but they like to find sneaky ways to make a few bucks back themselves. Some checking accounts, for example, have a minimum balance that you always have to have in your account. If your balance goes below that minimum, you get a fine.

Yeah, that’s right. You have to PAY your BANK for being too poor to have any money in the account that consists entirely of your own money that you started out with in the first place. I understand credit card late fees– with credit, you’re spending money you don’t necessarily have– but a fine on your own money? That’s bullsh*t.

Luckily, the banks have caught on to the fact that college kids won’t open accounts if they know they won’t be able to keep up with the minimum account balance… and the fact that once we’ve graduated and become successful career men and women, they can switch us to premium accounts and fine the ever-loving sh*t out of us.

Free student checking comes with a variety of perks. First of all, it’s free. No interest, no fines (unless you overdraw), no minimum balance, and they usually only require about $50 or so to open them. So, just put off buying one textbook for about a day and you’ll have the money to open a checking account and become a real grown up, personalized checks and all.

Before you hop over to the first bank in sight, however, it’s wise to do some research. Because college students should ALWAYS be on their toes for a bargain, whether it’s free food sponsored by the PanHellenic Society, Penny Night at the Pub, or a free toaster with every new bank account.

Seriously, though, shop around. Some banks will give you MONEY just to sign with them. I got $50 last summer for opening a new direct deposit account with M&T Bank, for example, and when I used Wachovia in the past, they were always advertising bonuses for students who got friends to open checking accounts as well. Search for banks in your area on Google Maps and see if there are any perks for opening a new account.

Then, proceed to step two:

Check out the long-term benefits of the account. Remember, you and your new bank are going to have at least a four or five-year relationship, and you want the relationship to be as much a one way street as it can be (in your favor, of course).

Currently, Bank of America has an online student checking offer, which includes a “Stuff Happens” card, good for a one-time fee refund (read: if you overdraw once, you can waive the pricey fine); a free check card (read: debit card); free online banking with unlimited bill pay (read: no fees for paying bills online); and an easy way for your parents to deposit money into your account (read: you can still beg for cash).

Wachovia’s Free Student Checking also offers one-time overdraft protection, but also includes a free savings account, for those of you motivated scholars who actually hope to put some cash away for a rainy day. AND Wachovia’s plan includes a “Way 2 Save” program, which encourages students to make debit card purchases and pay bills online, allowing you to accrue cash-value points for every check, purchase, and payment, in addition to a rebate on the money you’ve saved in your account each year. Talk about rewarding responsibility!

Other perks include Key Bank‘s ATM fee reimbursement plan, Washington Mutual‘s reward-earning debit card, and Meta Bank‘s checks with your school logo on ‘em (for you spirited savers out there)!

The bottom line is, you’re going to have to start managing your money eventually, so you may as well take advantage of the student-friendly perks of free checking accounts. Along the way, you’ll learn to balance your checkbook, make financial transactions, and become more aware of how much you’re earning and spending. Even if you take advantage of the “no minimum balance” advantage and constantly flirt with overdrawing your account, at least you’re getting started.

By the end of this series, you might even have enough to call “savings.”

For those of you who are unfamiliar with Craigslist, there is an individual site for most major cities across the US (and around the world, for that matter), e.g. losangeles.craigslist.org, boston.craigslist.org, and so on. Craigslist is basically a bunch of classified ads, and there’s a huge section of both “jobs” and “gigs” just waiting for you to stumble upon. So whether you want to splurge on a shopping spree, get your grandmother a birthday present, or actually buy your books this semester, look on Craigslist. I recommend browsing the categories “ETC” and “Event,” though if you have a particular talent or skill, you may want to look under “Creative,” “Labor,” or “Writing.”

Here are some of my favorite past Craigslist gigs:

1. Mock Juror

Listed under: Event

Paid: $60 for less than 4 hours

Perks: A 15-minute break, free coffee, soft drinks, and snacks, and cash payment.

I had to fill out a couple of surveys to qualify, but this gig was open to all ages, races, genders, and occupations. I had to go to a hotel meeting room and listen to the facts of a real case that hadn’t gone to trial yet. Then, all the participants had to discuss what they thought of the case, such as whether the prosecutors should clarify any of their evidence, or if the defense had any decent, er, defense.

2. Market Research Participant

Listed under: ETC

Paid: $75-$125 for about 2 hours

Perks: Cash payment, free snacks and soft drinks, and opportunities to join a market research database for later studies

I’ve done market research studies for people with no health insurance, bargain shoppers, and soda drinkers. Usually, you sit in a room with some other people (again, from all walks of life), and share your thoughts regarding the subject. “Yes, I would get health insurance if it was cheaper.” “I don’t shop at that discount store because it’s trashy.” Then you get paid. The only study that was different was the soda study, in which I had to press a button when I saw a certain word appear on a screen, and then watch some advertisements for said soda product. But hey, that one paid well, and there’s no harm in pressing a button for a couple of hours.

3. Door Hanger Distributor

Listed under: Event

Paid: $200 for a day’s work

Perks: $25 gas stipend

I can’t really call this one of my “favorites,” but it was the most profitable. Basically, I had to walk around for several hours and hang door hanger advertisements for a local ice cream shop on peoples’ front doors. It sounds easy enough, and I got to burn calories while jamming out with my i-Pod, but at the end of the day, I thought my legs were going to fall off. A few hours into the gig, I was cursing myself for responding to the ad, but a week later, when I was up $225, I forgot about my aching knees and the weird sunburn I got after missing a patch of skin on my back.

4. Freelance Writer

Listed under: Writing

Paid: $10-$50 per piece

Perks: Can become a routine gig, and it’s a job that can be added to your resume

I’ve written for various C-list posters, from a telemarketing script to restaurant reviews. Some jobs pay via Paypal, which is cool, because instead of blowing the money right away, I let it accumulate, and then transfer a couple hundred bucks to my bank account and go on a shopping spree. The most profitable freelance gig I’ve done earned me $50 for a 100-word anecdote. Not too shabby. If you’re into writing, I suggest looking at multiple Craigslist sites, especially the larger hubs in America like New York or LA, because you can usually telecommute and work these gigs from home, at all hours of the night.

I’ve found that an avid Craigslist whore like myself can earn a pretty chunk of change by doing odd jobs. Sure, they aren’t the most glamorous tasks, but you can make your own schedule, and usually average over $10 an hour for your work. Plus, you don’t have to deal with a shitty boss, and once the job is done, you’re done with the company altogether. Be weary of what posts your respond to, however — I don’t recommend responding to “Will Pay a Hot Girl to Escort Me to a Company Party,” and if you find a market research post that requires you to fill out a survey, or follow a link to qualify, it’s probably a scam. The good news is, the more comfortable you get with Craigslist, the quicker you’ll be able to find a job that suits you, and you’ll be able to weed out the whack job posters from the legitimate opportunities.

[What's the best job you ever landed off of Craigslist?]