Those first few paychecks feel really good. Until you find that you're actually spending the whole thing without stocking anything away for a rainy day - not to mention a financial emergency.

You're not alone - college students account for nearly half of the more than $285 billion in credit card debt, according to the National Credit Research Foundation. Increasing the burden is the fact that the average college student graduates with approximately $16,000 in student loans. In the "real world" of payment due dates, finance charges and credit reports, learning to save may be the only way to save yourself in a time of crisis. The following tips will help you learn to manage your money responsibly:

Pay yourself first. If you wait to see what's left over, you're less likely to save. Determine in advance how much money you plan to keep on deposit each month. If you receive a raise, increase the amount of money deposited into your savings account.

Take advantage of bank technology. Consider automatic payroll deductions or automatic transfer from checking to savings. Avoid temptation and arrange to have a specific amount transferred to your savings account every pay period.

Pay your bills on time and pay more than the minimum amount. Although 97 percent of Americans pay their bills on time, some consumers find themselves paying late fees. Alleviate the hassle by scheduling time once a month to pay bills, and put them in the mail with enough time to get to the creditor.

Determine needs versus wants. Do you need to eat out every day for lunch? Do you need that gourmet cup of coffee in the morning? By bringing your lunch to work a couple days a week, you can save hundreds of dollars a year.

Shop around. There are thousands of options for financial services products. Be selective, and get the best prices, services, convenient locations and lowest fees for credit cards, bank accounts, mortgages and CDs.

Avoid credit card debt and the accompanying finance fees. Don't charge more on your credit card than you can pay off every month. It's that simple.

Consider investments. For long-term goals, such as saving for a home or retirement, look into bonds, mutual funds, real estate and stocks.

Consult your local bank. Ask which package of bank products and services would best suit your needs. Your banker is the best source of information about the accounts and interest rates available at your bank.

I liked this book "Wealth in A Decade" by Machtig. It seems that the great principles on how to live, thrive, and survive don't ever change -- they are just recycled in the latest, greatest book of the moment. Not that this is necessarily a bad thing -- people often need repetition to take a solid message to heart. Mr. Machtig incorporates many of these tried and true (but not new) foundations for creating wealth in his book. I have to give him credit for presenting the information in a fresh manner. Overall, I enjoyed reading this book. I believe the principles are sound, and could likely lead the reader to become wealthy in a decade. Unfortunately, it takes more than just reading this book ... it takes real perseverance and dedication. This book has the ability to sell you on the idea that it is possible, which is the first step. There may be a lot more to learn after reading this book, but that first step of realization is a big one.
Click to buy: Wealth in A Decade: Brett Machtig's Proven System for Creating Wealth, Living Off Your Investments and Attaining a Financially Secure Life