Seniors can hardly wait to toss their caps, hug their friends and declare their independence. As seniors move on with their lives, they need to be aware of some pitfalls that can come with their new-found freedom.

College marks the time in life when many young adults begin making independent financial decisions. Credit cards can be one of the biggest sources of financial trouble for college students. Credit card offers will probably start filling students’ mailboxes. Many credit companies set up tables in student centers and give free food, T-shirts, water bottles, mouse pads and other items to encourage students to sign up.

The trouble with credit cards comes when students make too many purchases and cannot pay their bills. Students should keep these facts in mind: Credit is not free money. Every purchase made on a credit card is a loan; the money must be paid back, plus interest if the bill is not paid on time. Remember that mistakes don’t go away. Unpaid bills cause a negative mark on a student’s credit rating and could cause problems later when the student tries to get a loan for a car or home. Graduating seniors should start now building smart spending habits.

If students say “yes” to a credit card, some wise hints for them include to shop around for the best terms and not to spend more than they can afford. Consistently paying off credit card bills can boost one’s credit rating. It is important to build one’s credit history so that later when buying a home or getting a car, lenders will see the person has a history of being responsible. Students should compare monthly interest rates, annual fees, late charges, and other details. Students should read the fine print on contracts. It is wise to have only one or two credit cards. The more cards students carry, the more debt they will likely carry.

A second trap many freshmen fall into is called the “freshman 15.” On the average, college freshmen gain 15 pounds their first year. The midnight burritos, the all-you-can eat dining hall breakfast, the pizza hall parties and fast food every day will cause those pounds to add on quickly. To avoid this problem, students should stock their own munchies of healthy food, avoid junk food, drink lots of water and get plenty of exercise.

The third snare revolves around sleep habits. While getting a good night’s sleep every night helps concentration and increases memory retention, students must be responsible for going to bed early enough to be able to get up in the morning and get to class on time. In a recent survey, college advisers reveal that the biggest problem with freshmen is that they oversleep and miss their morning classes. The advisers suggest that parents help students prepare for that responsibility by buying them an alarm clock in high school and requiring them to get themselves up in the morning.

Finally, the lack of time management skills can be a stumbling block for freshmen. Since college students do not attend classes from 8 a.m. to 3 p.m. five days a week as they did in high school, many students feel this extra time is free time. A general rule to follow is to plan to study three hours for every one hour that a student is in class.

Students need to get involved in campus activities and have some time to relax, but they should be cautious about spending too much time in extracurricular activities.