Money Management Tips For Students With Credit Cards
5501
Finance > Student Loan Consolidation
Mar 1, 2007
Lynne Birch
Money Management Tips For Students With Credit Cards
Keeping control of your money is one of the hardest lessons we have to learn as new college and university students. For many of us it is our first time away from home, and the first time we have to be truly responsible for all the financial affairs in our lives. Some get a handle on money matters faster than others. That's just the way she goes. But if you're not really all that sure where your money is going each month, here are a few things you may want to consider.
I. Avoid Temptations
If you have a particular weakness, and we all do, just stay away from it. If you love shopping, stay out of the malls. If you're a tech-head, stick to once a year upgrades. Nobody says avoiding temptation is going to be easy. However, it is a must if you want to save money. When you want to give into your temptation, this is the time to use your "allowance". Your allowance can be a set amount for 'special' items, or just a big jar where you put your loose change at the end of every day.
II. Credit Cards
If you have a credit card, use it only for emergency. Although they are really handy, credit cards are dangerous and possibly very damaging to your financial future. Credit cards (and in particular student credit cards) have very high interest rates. If you are only able or willing to make the minimum monthly payments then you will very quickly end up with a HUGE amount of debt because of the interest. The really bad thing is that you will also have to pay interest on the interest you owe. So, credit cards are good in a pinch, but should never be used as an extension of your cash.
III. Credit Card Interest
If you have credit cards and your credit is in good standing, you should take the time to call your credit card company, and ask for your interest rate to be lowered. It is just as simple as that. Most people have no idea they can even do this so they never make the call. Just ask the rep for a better rate on your credit card and they will take care of it for you.
IV. Financial Consulting
Many financial companies, community colleges and even churches offer classes on how to manage money. In some cases the courses are free, but often they cost around $35 to attend: it is money well spent. Another choice you have is consumer-counseling services. This is a great if you are getting into debt trouble. The counselors will work with your creditors to lower your balances, interest rates, and establish workable payment schedule that you can manage.
I. Avoid Temptations
If you have a particular weakness, and we all do, just stay away from it. If you love shopping, stay out of the malls. If you're a tech-head, stick to once a year upgrades. Nobody says avoiding temptation is going to be easy. However, it is a must if you want to save money. When you want to give into your temptation, this is the time to use your "allowance". Your allowance can be a set amount for 'special' items, or just a big jar where you put your loose change at the end of every day.
II. Credit Cards
If you have a credit card, use it only for emergency. Although they are really handy, credit cards are dangerous and possibly very damaging to your financial future. Credit cards (and in particular student credit cards) have very high interest rates. If you are only able or willing to make the minimum monthly payments then you will very quickly end up with a HUGE amount of debt because of the interest. The really bad thing is that you will also have to pay interest on the interest you owe. So, credit cards are good in a pinch, but should never be used as an extension of your cash.
III. Credit Card Interest
If you have credit cards and your credit is in good standing, you should take the time to call your credit card company, and ask for your interest rate to be lowered. It is just as simple as that. Most people have no idea they can even do this so they never make the call. Just ask the rep for a better rate on your credit card and they will take care of it for you.
IV. Financial Consulting
Many financial companies, community colleges and even churches offer classes on how to manage money. In some cases the courses are free, but often they cost around $35 to attend: it is money well spent. Another choice you have is consumer-counseling services. This is a great if you are getting into debt trouble. The counselors will work with your creditors to lower your balances, interest rates, and establish workable payment schedule that you can manage.
Article Source: http://www.articlerich.com
Student Loan Consolidation information and resources to get your on your way to student credit card debt relief
Write a Review
Add to My Favorite
Refer it to Friend
Report Article
Other links owned by this user
Keeping cntrl f yur mney is ne f the hardest lessns we have t learn as new cllege and university students. Fr many f us it is ur first time away frm hme, and the first time we have t be truly respnsible fr all the financial affairs in
Category:
Summer is coming and so is the hot weather. Nobody likes to cook in the heat of summer. A really hot meal on a hot day is almost as unpopular. It could be t a cool, easy to prepare summer soup is just what you need. Below are 3 recipes for soups
Category:
Other links at Finance > Student Loan Consolidation
Student loan consolidation rates are competitive and can be lend through government or private lender. There are many options available for a student to select the best provider of student loan consolidation, you can sear for a lender online and can
Category:
Keeping cntrl f yur mney is ne f the hardest lessns we have t learn as new cllege and university students. Fr many f us it is ur first time away frm hme, and the first time we have t be truly respnsible fr all the financial affairs in
Category:
A student loan is a very good choice if you don?t have any income or any other option and you want to stay in college. But before rushing in and getting a loan you should get some student loan advise. A simple piece of information can mean the
Category:
For many students in the UK their only option is to fund their studies with student loans. A company has been set up specifically for this reason and is logically called the Student Loan Company. Now that students do not get grants and
Category:
About two thirds of college students are using student loans to pay for college. If you plan on using student loans to pay for your education then there are a few things you need to do . The first thing is plan ahead and understand what options you have
Category:
Site Sponsor
Directory Statistics
Articles: 68228
Categories: 501
Yahoo Entertainment
