Make sure to avoid these mistakes.

KSAT reports.

Common money mistakes college freshmen make

College is filled with many challenges and one of the biggest is how to moderate spending without parents.

College freshmen are at risk of making several common financial mistakes. Here are some of the most common.

Not having a reasonable budget

Establishing a reasonable budget may be difficult at first, but after the first few months, students should have an idea of how much they can spend without going overboard.

Even then, students often underestimate the actual cost of living independently. Students are advised to list immediate needs, sources of income and pay bills before going out with friends.