Struggling to make ends meet
as a student? How to get the most for your money and avoid student debt.
Credit cards and students - an explosive combination.
Here are the things they don't teach
you at college about avoiding credit card debt or loans.
Student Credit Card Debt - How To Avoid It
And Tips On Managing It by:
Lynne Birch
As new students head off to university and
college each year they are presented with many challenges. Meeting new friends,
encountering new ideas, and managing new responsibilities. Of these, perhaps it
is managing money that is the most important. As a new student you'll find out
pretty quick just how hard a weekend bender with the boys hits the pocket-book.
So, once your head has cleared you may want to take a look at the following tips
that can help any student manage their money and keep their student credit card
use under control.
1) Budget
You need to make a budget. If you are not sure how or just not good with money,
many businesses such as H&R Block, offer free financial consulting to help you
put a budget together. It really isn't that hard, and does not need to be a huge
pain in the ***. You just need to get it sorted out once so you can see where
you are spending your money and where you need to spend your money. Most people
don't have a clue where their money is going. Getting a budget organized puts
things into a much clearer picture.
2) Plan
Planning is a great way to save money and avoid racking up your student credit
card debt. Make it a point to go shopping at regular times (Monday afternoon for
example). This gives you a specific time to make sure that you are ready and
organized. Before you go to the grocery store, make a list and stick with it.
Pay attention to the things that you know you need like shampoo, soap and food,
then plan to buy in bulk when you need to restock. Heading out with no set
direction will lead you to impulsive spending, getting organized and planning
things out will help you stay in control of your credit card use.
3) Buy in Bulk
We noted before that it can be a good idea to buy in bulk. There is no doubt
about it warehouse shopping can save a lot of money. Even if you are just a
couple of guys sharing an apartment, you can always split large quantities. The
key to this is only buying the things you need. Just because you can buy 32
pounds of peanut butter for $12.50 doesn't mean you should. You can however make
smart choices and buy staple foods like pasta, rice, flour etc. in bulk. Many
household items are also available in larger quantities, and often at
significant savings.
4) Use Coupons and rebates
No matter how you feel about them, the truth is that using coupons can save you
hundreds of dollars every year. Coupons can be used at grocery stores, retail
chains, any store where the item is sold. Some stores offer double coupon days,
which is an extra bonus. On average, you could easily save from 5% to 15% simply
by presenting a coupon. As a student you get access to many special discounts.
Never be shy to ask if a store has a special student discount. In many cases
simply asking can save you the tax.
One of the primary goals in managing your money as a student at college or
university is to pay attention to your needs and once they are met, use any
additional money for fun stuff. It is a very bad idea to use your student credit
card as if it were cash.
About the author
Student Loan Consolidation information and resources to get your on your
way to
student credit card debt relief
Source:
www.isnare.com