Bangalore:College life is always considered great. As the school year ends, the students enter not only the college life but also the real world. College life for many students is an announcement of freedom. Freedom also means handling money in the form of pocket money either from elders or a few bucks you earn by doing part time jobs. But this new found financial freedom can turn into a disaster if you are not careful about the way you handle money. Here are a few top 5 money mistakes that many of the students make: Not Listening to Elders Who Know Better It's always good to keep your elders informed about what you're spending and where you're going. In Case if you land up in any financial trouble then you can always look upon them. As elders have passed all these years they would know what is good for you. Do not feel that they are advising but take it in the right sense and always be with them.