How do you implement money management when you are in college? Tuition and books are large college expenses that will hopefully be covered by scholarship dollars.

But you have other college expenses, and will need additional money to pay for them. So do you contact a professional financial planner? Keep a wad of money in a glass jar? Store your life savings under the mattress?

A checking account is the simplest and safest way to go. Whether you write checks or pay bills electronically, keeping your money in a bank makes good sense. It is important to keep your account balance current. With the present proliferation of ATM machines, your debit card could get you into debt all too quickly.

If you have a sum of money from a job or a gift, consider investing it. This probably isn't the time to try day trading or Las Vegas style speculation; you just might need that cash in the near future! Investigate safe (slow growth) investments such as a bank Certificate of Deposit or a mutual fund. Speculative investments are out unless you have a lot of money that you can afford to lose.

As you know, college and graduate school can cost a lot, so it's best to be conservative with your money and manage it wisely each and every day.