When Jason Wright was 15, he was reading books in the library on how to make money. At 17, he had money in the stock market. Now, Wright is a 19-year-old finance sophomore, reading up on Peter Lynch, who's like "the Michael Jordan of mutual-fund managers." He's also a member of the MSU Finance Association, and has interned with a financial adviser. "I've made money doing it," Wright said. "It's helpful in a lot of ways; I do find it fun." Although Wright is further ahead in understanding financial planning and investments than most students, gaining the knowledge now isn't a bad thing. Maximizing your money is one of those things the rest of us talk about but never really act on. It's not as easy as cheesy infomercials or TV sitcoms make it out to be, but it's not scary, either. Low on cash. Flat pockets. Financially challenged. Out of money. Call it whatever you want, but being broke isn't much fun. A good half of us will be graduating within two years, which means striking out on your own with an entry-level job. It also means getting your own place, buying a suitable work wardrobe and starting to pay off those dreaded student loans, and broke starts to ring louder and louder.

Having a cushion for those hard times might come in handy.

MSU Federal Credit Union (msufcu.org) offers CD, or certificate of deposit, accounts and an online service called "ShareBuilder," where customers who hold accounts can create their own mutual fund or collection of different stocks.

CDs are a type of savings account where money is deposited and it matures after a certain amount of time. There are, however, penalties when you withdraw from a CD.

"With certificates, you earn the money and keep the money," said Joyce Banish, vice president of marketing for MSUFCU.

"There is a full range of certificates, ranging from three months to five years. The higher the interest rate of the certificate, the more you earn at the end of the term," Banish said.

Banish said MSUFCU has a lot of student customers who invest their money. "Students who go to a broker might be surprised at how much the fees are," she said.

But private brokers offer one-on-one service. Tim Martin, an adviser representative with John Hancock Financial Services in Lansing, sits down with all first-time customers to determine what their needs are.

"First, I would ask if they have any outstanding debt," Martin said. "Anything that has a high-interest rate, pay those debts down."

Then, Martin would want to know what the customer plans to do with the money. For example, "if they're trying to save for retirement, the easiest way to deal with it is to make a monthly deposit in a mutual fund.

"I try to educate my clients on what's their best option," he said.

Next, Martin wants to know how much of a risk-taker his customer is.

"Being too aggressive can be a bad thing," Martin said. "We can't predict what's going to happen in the future," he said, referring to the rise and fall of dot-com investing in the late 1990s.

A common misconception among younger investors is that the money automatically starts to roll in, Martin said. Many investments are long-term.

"A lot of the younger generation set their expectations too high," Martin said. "With a quality mutual fund, over a 10-year period of time expect a 10 to 12 percent on returns.

"Don't expect 20 to 30 percent returns every year and getting rich quick," he said.

Paresh Patel, a computer engineering senior, has been investing his money for about two years. He got the inspiration from his dad, who invested when he was in college.

"I'm saving for the future, probably for my retirement," he said.

Patel had played it relatively safe, only investing in Ford Motor Company. But over the years, he's gone from owning 50 shares in the company to owning 200 shares.

"(The value of the shares) is like doubled now," he said.

For newcomers, Patel says it's best to research a company at least six months before you buy stock in it.

For quicker results, you'd have to be more risky, Wright said.

"I'm a risk-taker, that's for sure," Wright said. "If you can take on a lot of risk, go for stocks.

"There was one stock where I bought it at $2.90 per share, and then I sold it at $24.50," Wright said. "It was XM Satellite Radio."

Over the years, he's invested in several different companies, but said he usually keeps money tied up in no more than two companies at a time.

"There's more risk, but there's definitely more reward," he said.

Wright has made some mistakes - he lost money on one investment.

"That's just part of the game; you can't win 'em all," he said.

Unlike Patel, Wright isn't saving right now.

"I'm only 19, I don't have my kid's college fund to worry about or anything."

Like Martin, Wright also cautions against having high expectations. Following the market and reading money publications also is important, he added.

"If you do your homework, there's money to be made."

Aaron Foley is the enterprise reporter for The State News. Reach him at foleyaar@msu.edu.