If you are a typical human being, there is a good possibility there was a period in your life when you refused to eat vegetables. Maybe you continued smoking well after you knew quitting was the right thing to do. Or perhaps you insisted on putting on a toga and riding a papier-mâché donkey down crowded city streets after the judge told you this was your last chance. No? Just me?

If you’re still with me at this point, allow me to explain my ramblings. I am here to deliver a wake-up call to the Oberlin College community. It is time for you (yes, you!) to get serious about your financial future.

No, I’m not kidding.

As Oberlin students, we thrive on awareness. Hopefully you have already begun thinking seriously about your role in society. You are probably aware of the inherent risks of drug abuse, unsafe sex, and voting for Nader. Even so, the risks of inadequately preparing your finances can be much, much scarier. Do you really want to be that one person who works at McDonald’s and receives the AARP newsletter?

Allow me to clarify. I am not suggesting that you abandon your ideals in search of the almighty dollar, unless of course that was your ideal to begin with. Happiness is not directly linked to the size of your paycheck. Thankfully, despite what they may say in Econ 101, there are higher things to aspire to than maximum consumption. Being an Oberlin student, it is quite likely you dream of fighting for human rights, ending animal testing, saving the rain forest or finding an alternative for sleep.

You will be a more effective force behind whatever cause you support if you are not constrained by debt and financial instability. I’m not encouraging you to find the highest paying job you can get. Instead, I am suggesting a radical new concept: live within your means. Easy, right? Not quite. Living within your means requires three things:
1.) Means,
2.) a life and,
3.) self-discipline.
Ouch! I know I just lost a bunch of readers with that one. Self-discipline is not exactly a popular trend in this country right now. If we were all expected to control our instinctual urges, we might not be able to do fun, impulsive things, like cajole with interns or invade countries without provocation.
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I think we can do better than that, don’t you?

Here is a basic four-step plan to help you take control of your finances.

Step 1: Make a budget. Begin by calculating your total monthly income. Then, figure out your monthly expenses. Include everything (I do mean everything; beer is not free) you expect to spend money on. Find out if you are running a surplus (good) or a deficit (bad, unless your daddy owns oil wells).

Step 2: Look into the long-term. Are you planning to go to graduate school? Travel abroad? Lock yourself in a dark closet for six months and observe your thought patterns? Regardless, you should take into account the things you want to do, and how they will affect your income.

Step 3: Get out of debt. How long will it take to pay off your student loans and/or credit cards? Unfortunately, like most nagging issues, these will not go away by themselves. If you are not planning a strategy on how and when you will get into the black, you never will.

Step 4: Begin saving. Through the miracle of compound interest, you can take advantage of time. Let’s say you save $1,000 every year. At a very reasonable 5 percent interest compounded annually, after 40 years you will have $133,879!

Personal finance isn’t as cut and dry as I have made it out to be. That’s why you can count on my regular column to address issues that concern you, the humble, idealistic, sleep-deprived college student.