If you are anything like me, a financially dependent college student attempting to cover the expenses of partying and school, then developing good credit is literally the last thing on your mind.

All this changed when I became director of the 2004 Bateman Team and was charged with the task of educating college students about responsible spending and establishing good credit.

As our campaign took shape and I came in contact with financial planners, debt counselors and their ilk, I discovered a secret about myself: I have good credit.

You may ask what this means to a person who thinks responsible spending is buying Taaka vodka instead of Grey Goose. Actually, it means a lot.

Establishing good credit is like a secret rating system that can shape all the financial aspects of your life.

Armed with good credit, you may not have to put as large a down payment on a car, the interest rates on loans are often lower and even insurance can be cheaper.

Overall, good credit can mean a less expensive car, a bigger house, a higher credit-card limit and opportunities to open your own business. Sounds good to me.

When it comes to establishing credit, start as soon as possible. Credit is affected by such factors as the amount of time you’ve had a credit card and paying your bills on time.

The earlier you begin thinking about these things, the better. Unfortunately for me, I’ve had to learn all of this through tedious, time-consuming research, but there are others who are far luckier than I was.

They had parents who talked about the dangers of financial ignorance and teachers who taught more about the fine print on credit card applications than logarithms and matrices.

We need practical math skills, but as it turns out many often graduate without an understanding of the most basic financial concepts.

In an effort to change this, the Bateman Team is petitioning both the faculty and administration in an effort to incorporate “real-life” math skills into the curriculum.

We also encourage students to take the initiative and learn about money for themselves.

Start questioning your parents, professors and financial experts as soon as possible.

The sooner you begin, the less likely it is that you will get into financial trouble.

My own experience with credit cards has always been positive and, as I get older and less dependent on my parents, I learn that the key to credit is making it work for you.

Frequent flyer miles, trips to Disney World and a plethora of discounts and rebates await the smart spender.

All you have to do is be aware of the available options and take charge of what’s right in front of you.

~ Joel Mandina is a communications senior and a member of the Loyola Bateman Team