Just how different are money matters when you leave school? How close does reality come to what you thought it would be like? We hit the streets to find out something about the way some fairly recent high school grads are handling their financial lives.

• Simone J., a 21-year-old cashier and college student with an open face and an infectious laugh: "After high school, I got my first credit card. All of a sudden, I turned into a compulsive shopper! When I realized my monthly minimum payments were more than I was making, I said, 'That's it.' I don't even know how I'm managing to pay it off, but somehow I am.' "
  
  
• Erica S., 20, a slim, sloe-eyed coffeeshop clerk: "The Macy's card did me in. I got my first card when I was 16 and I've run up a lot of debt. A lot. I finally took a scissors to my cards. I'll probably get another one, though, maybe from a bank. First, I got to save some money and open an account somewhere."

• Ben V., a 21-year-old mustachioed assistant manager at a chain housewares store: "I was amazed how hard it was to get credit when you don't already have a credit history. It's like not being able to get your first job because you have no job experience. I eventually got an Optima and Visa."

• Nicholas L., a handsome, bespectacled 21-year-old sales associate and aspiring actor: "I kept taking out these college loans, and didn't realize the large amount they totaled -- until afterward. No, I just never did the math!"

• Masha Z., 22, a vivacious red-haired sales associate at a ladies' boutique and a management and marketing college major: "Budgeting is very hard to do -- to make it all come out right at the end of the month, with a little left over for savings. Yes, it's important to me to have some savings; you never know what's going to happen."

• Sonia V., 21, a petite, dark-haired college student majoring in sociology: "The cost of health care -- insurance and medical bills -- is shocking to me. I'm moving to London for a while after graduation, so I'm not going to worry too much about it now -- but I will when I come back to the States!"

• Jason R., 20, a furniture stock-person with wavy black hair: "When you graduate, you want to move out right away, but the rents are so high, you have to get a roomie -- something I didn't figure on."

• Brett M., 18, a wide-grinned college student taking acting lessons: "I moved to New York City from a small town in Wisconsin and I had to learn to budget my money -- real quick. Good thing I saved a bit before I made the move ..."

• Alejandra G., 23, a petite Argentine tango and mambo dancer: "I'm pretty thrifty. I don't make much, but I don't spend much, either. I don't use credit cards. I like to keep my life as simple as possible."

• Michelle W., 21, a sleek-haired cosmetics clerk: "My student loan turned out to be more of a burden than I thought. I'm paying off $25 a week; that's $100 a month." (Sighs heavily). "I've got three more years to go ..."

• Alfonso C., 18, a tall, athletic, stock and sales staffer in a housewares shop: "I don't buy anything that I don't have the cash for. I learned from friends' mistakes with credit cards. One friend got so excited when he got a credit card, he went on a shopping spree at Stern's. That was two years ago and he's still paying it off!"

• Jaes V.B.W., 18, a specialty-market cashier with close-cropped hair: "Money is the rule of all evil. That's 'rule,' not 'root.' Money rules over all that is evil -- murder, drugs ..."

• Megan B., 21, a strawberry-blond tutor and trained dancer: "I was mostly surprised by how high rents are, especially if you're a single person. I had to get a roomie. As far as credit cards go -- they're the enemy!"

• Nathaniel M., 21, a trim, olive-skinned food-vendor: "I was surprised I got a reasonable-rent apartment so quick. You could say I was one of the lucky ones. I'm financially OK. Listen, let your bills pile up, and you'll be moving back in with your mama!"

• Lynda, 23, an attractive, raven-haired bath-and-beauty-products store employee: "I spend more than I have. I don't know, it just goes! Nah, I'm not overly worried."

Laura Shanahan is a freelance writer based in New York
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-- Posted: Aug. 9, 2000