Credit Cards and College Students On Very Familiar Terms
By Marie Jones
One of the very bad things about credit cards is that college students have gotten caught up in them and are using them to pay their college expenses. These expenses include tuition, books and other fees associated with attending college. The sad thing about this is that these credit cards have high interest rates and will be very difficult to pay off.
Use student loans. Students who make use of Stafford loans and other financial options are in a better position to graduate with less of a financial burden. Yet, there are those who do not apply for these low interest education loans. Not only do they offer low interest rates and are guaranteed by the U.S. Government, but you do not have to begin paying for them until you graduate.
Use student loans responsibly. Some students have been known to take out more in student loans that is needed. This is possible by dropping classes and obtaining a refund from the college or university. Then, they take the money and use it for frivolous items. This is not a responsible use of that money. Better it would be to take the money and make a payment back to your loan servicer in order to keep the total amount of your student loans as low as possible.
Focus on graduating and then obtaining credit cards. Your focus should be on your studies while you are in college, not in getting over your head in debt. You should minimize your credit card usage to very little. If you have to, get a part-time job in order to provide some income with which you can pay cash for items that you need instead of throwing it onto your credit card. If you are not good with your finances, refuse to get a credit card.
Make wise choices once you have graduated and are beginning to pay off your loans. Once you graduate, you will begin to look for a full-time job. Once you have obtained one and you have made arrangements to begin payments on your student loans and other debt, begin to work as hard as you can to get them paid off as soon as possible. Deny yourself some pleasures (not all, but most) in order to be able to throw as much money at your loans as you can to eliminate them.
Young and full of life. The one thing that you have going for you is that you are young and you have your whole life ahead of you to find a career, and make money for your future. Do not squander this time by doing nothing to improve your financial picture. Take an attitude that says "if I do not have the money, I will not buy." This will serve you well, but eventually you will want or need a new car or house, so keep your credit clean as well by being a responsible money manager.
Get advice. Find a trusted financial adviser who can give you good, solid financial advice on how to live mostly debt-free and at the same time begin to put money away for retirement. Using a financial adviser will help give you a perspective from someone who has no emotional attachment to your money. And that is a very good thing to have.
CreditCardFlyers.com is the place to go online to apply for a credit card with 0 balance transfer offers to help you avoid interest. You can compare balance transfers from multiple credit card issuers and calculate your credit card savings when you transfer higher interest balances to your new cards.
By Marie Jones
One of the very bad things about credit cards is that college students have gotten caught up in them and are using them to pay their college expenses. These expenses include tuition, books and other fees associated with attending college. The sad thing about this is that these credit cards have high interest rates and will be very difficult to pay off.
Use student loans. Students who make use of Stafford loans and other financial options are in a better position to graduate with less of a financial burden. Yet, there are those who do not apply for these low interest education loans. Not only do they offer low interest rates and are guaranteed by the U.S. Government, but you do not have to begin paying for them until you graduate.
Use student loans responsibly. Some students have been known to take out more in student loans that is needed. This is possible by dropping classes and obtaining a refund from the college or university. Then, they take the money and use it for frivolous items. This is not a responsible use of that money. Better it would be to take the money and make a payment back to your loan servicer in order to keep the total amount of your student loans as low as possible.
Focus on graduating and then obtaining credit cards. Your focus should be on your studies while you are in college, not in getting over your head in debt. You should minimize your credit card usage to very little. If you have to, get a part-time job in order to provide some income with which you can pay cash for items that you need instead of throwing it onto your credit card. If you are not good with your finances, refuse to get a credit card.
Make wise choices once you have graduated and are beginning to pay off your loans. Once you graduate, you will begin to look for a full-time job. Once you have obtained one and you have made arrangements to begin payments on your student loans and other debt, begin to work as hard as you can to get them paid off as soon as possible. Deny yourself some pleasures (not all, but most) in order to be able to throw as much money at your loans as you can to eliminate them.
Young and full of life. The one thing that you have going for you is that you are young and you have your whole life ahead of you to find a career, and make money for your future. Do not squander this time by doing nothing to improve your financial picture. Take an attitude that says "if I do not have the money, I will not buy." This will serve you well, but eventually you will want or need a new car or house, so keep your credit clean as well by being a responsible money manager.
Get advice. Find a trusted financial adviser who can give you good, solid financial advice on how to live mostly debt-free and at the same time begin to put money away for retirement. Using a financial adviser will help give you a perspective from someone who has no emotional attachment to your money. And that is a very good thing to have.
CreditCardFlyers.com is the place to go online to apply for a credit card with 0 balance transfer offers to help you avoid interest. You can compare balance transfers from multiple credit card issuers and calculate your credit card savings when you transfer higher interest balances to your new cards.
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