I just can't remember how to play this game. I either end up going bankrupt or my economy goes MASSIVE recession mode. HELP

Just some guesses:

If you're going bankrupt, you're probably overspending on services. You don't need Schools/Police/Fire-stations/hospitals until your city has grown a bit. Even when you introduce these, it is entirely reasonable to leave funding very low (<50%) until you can afford to raise their budget. Never skimp on transportation budget, though; that causes your roads to decay.

Remember that you can check your budget at any time. You should try to maintain a budget surplus, generally.

Recessions are harder to diagnose; it would help to know the size of your city. Are they watered/polluted/crime-blighted? My best guesses are the wrong balance of zones (consult the demand indicator on the toolbar) or zones placed too far away for sims to travel between them.

My cities aren't crime central and there always watered and not that polluted.
Wouldn't citizens move out due to low, no funding, or no services?

I need profit. I get very close to profit but my economy keeps going on the fritz

Can you post what your budget looks like?

Basically it's losing money or it's negative

Sometimes the expenses are huge and sometimes they're small.
My Sim Children are braindead and the college students are on crack. My problem is profit and education. Sometimes recession. I've got libraries, schools, Colleges, and Museums and my students are STILL braindead.

Well that's your problem. You've got a small town that's trying to operate an educational system fit for a metropolis.

Advice: Learn to understand your budget window. Not understanding this is synonymous with not knowing what you can afford to build. You must at least understand what the various departments are contributing to your budget. You do realize, don't you, that all those things you've listed cost you ~$100/year or more?

You should also start a city, and build no non-powerplant special buildings. I don't care how much your sims complain. No fire/police/hospital/schools, ever. Understanding the interactions between the three basic zones are vital, as it is these interactions (and not education, health, crime, etc) dominate the growth of your city. If you can't build a functional small town without these services, you have no hope of managing a city with them.