ADVICE From the Experts

Jane Bryant Quinn, personal-finance columnist for Newsweek, business correspondent for the CBS Morning News.

Q: Our current economic situation seems pretty dismal. Is there any hope on the horizon?

A: I think inflation is going to continue for many years, but that doesn't necessarily mean things are dismal. Oddly enough, while prices have doubled in the last 10 years, wages have more than doubled.

Although the past year and a half hasn't been very good, the '70s as a whole has shown gains in real income, and I think that's going to continue in the next 10 years.

As far as the job outlook goes, graduates starting to enter the work force now are part of the baby-bust generation, and they're going to be in a much better position to find jobs than the preceding baby-boom generation.

The economy expanded tremendously to accommodate the baby-boom workers. Consequently, when a smaller number of workers (the baby-bust generation) comes up behind, the question becomes, "Who is going to fill all these jobs that were opened by the past generation?"

George N. Miller Jr., financial writer, recipient of the 1980 Black Enterprise Achievement Award, youngest member on the board of directors of the American Savings and Loan League.

Q: How can I make the most of my money while I'm in college?

A: Overall, a financial plan is important. Map out exactly what your remaining in-school costs will be, everything from books to entertainment. Then try to pinpoint all the resources from family, work, aid, and scholarships. From this, map out a specific plan and follow it.

I would also strongly suggest that you save money. I'm appalled at the money I threw away in college just on normal living expenses. If you could start saving now, you could prepare yourself for leaving school and getting a job, especially if it takes a little time.

I'd recommend getting a job in the field you want to pursue after graduation. And if a student wanted to start a small business, I'd strongly encourage it.

Barbara Gilder Quint, financial expert, writer for Money and Glamour magazines.

Q: I have money in a savings account for next year's tuition. Is this the best place to keep it?

A: Your money in a savings account is absolutely safe; it's insured by an agency of the federal government, and it's also very accessible.

However, day-of-deposit-to-day-of-withdrawal accounts pay only 5 percent interest, and even one-year accounts rarely pay more than 6 to 6 1/2 percent. So why not consider shifting your money to one of the new money funds?

In the last six months, they've been playing between 7 and 10 percent interest. You have instant access at any time to your money and, although they're not insured as with a savings account, most experts believe they are very safe.

(For more information and a list of funds, write The Investment Company Institute, 1775 K St. N.W., Washington, D.C. 20006.)