Students in Free Enterprise made freshmen a little more money-savvy during fall orientation.

This was the first time the group offered the personal finance program to the entire incoming class instead of limiting it to business students.

SIFE students have researched personal finance trends and found that more young people are moving back with their parents because they can't handle financial independence, aren't saving enough for retirement, and have tons of credit card debt.

As a service project, SIFE decided to tackle the problem early by teaching freshmen the basics of saving and spending.

"It's the first time they're solely responsible for managing their money," said Claire Cornell, faculty adviser for SIFE. "They're often solicited by credit card companies. And they don't distinguish between what they really need and what isn't so important."

SIFE also invited Det. Cheryl Compton of the Tulsa Police Department to explain to freshmen how to guard against identity theft, especially in communal living situations.

Following are some money management tips from SIFE:

• Purchase on credit cards only things you need. A car repair might be a need. New pair of shoes? Not so much.
• Keep a record of spending and compare it to how much money you have.
• Don't charge meals on a credit card. Even a burger and fries becomes unaffordable at 20 percent interest.
• Be leery of one-year, no-interest offers. At the end, you'll owe a whole year of interest if you haven't paid back the amount in full.
• Shop around for the right credit card. Interest rates usually are very high for young people.