Being a good consumer in a bad economy

As the economy brightens, Roberta Schroder says she sees the good she predicted would come of the painful days of the recession.

Students in her classes at Nassau Community College "are much more aware of their spending patterns," says Schroder, chairwoman of the school's department of economics and finance. As distressing as the economic downturn was, she says she's seen it lead young people to be "more effective and efficient consumers."

Though some may be more willing to master money basics, they still need low-cost resources to help them. Some ideas:

1. Community services. Check out public library offerings. Also look for free or low-cost help from nonprofit credit counseling agencies that have education and outreach as part of their missions, says Carolyn McCormack, director of education at SafeGuard Credit Counseling Services Inc. in Hauppauge, where counselors talk regularly by phone or in person with consumers of all ages. Among the subjects: spending, student loan repayment, credit scores and credit reports. Check the Association of Independent Consumer Credit Counseling Agencies, Aiccca.org, to find other agencies that may offer similar help.

2. Education. Students can sign up for personal finance or personal money management classes, often offered through the school's business or economics department, says Schroder. There also are sessions offered through adult education programs, but avoid those taught by financial professionals with products to sell, advises McCormack.

3. Gifts. What better graduation present than several sessions with a trusted financial planner? Or, find fee-based planners who charge by the hour at the Garrett Planning Network (Garrettplanningnetwork.com).