Avoid a College Credit Card Crises

College is a time when youth start to grow up and (slowly) become mature, young adults. It is a time of increasing responsibilities as they learn to live in the world on their own. One aspect of this is becoming financially responsible as well.  It is an area that is easy to mess up and many students do.  When they first start college many students rush into obtaining one or two credit cards. It is a bad situation because banks love to target na├»ve, impressionable students. They promise quick money and emphasize the importance of establishing good credit early in life. Many students fall into this temptation by not realizing of fully understanding the dangers of credit cards. Many pile on debt they will spend years trying to pay off while living outside their means. Rather spending money you don’t have try to think about saving more instead.  Here are some ways to do so.

The first rule of thumb is simply put, don’t get a credit card. Interest rates of 20% or more add up very, very quickly. You probably don’t have a lot of money to begin with so you need to avoid as much debt as you can. Instead get a debit or check card and make sure to balance your budget. There have been horror stories about students who spend years trying to pay off their credit cards. Imagine trying to do that while paying off student loans as well!

One area you can save money in is clothing. You might like expensive designer clothes but you honestly don’t need them. College students have a reputation for wearing whatever so embrace it. It is a part of the college experience.  There are plenty of stores, like Old Navy, that offer stylish, yet affordable casual wear. Never buy clothes at full price either. Always wait for a sale or at the very least look for coupons. It often pays to check the clearance section as well. Avoid big name brands. Second hand, vintage shops are really popular and offer cool clothes at affordable prices.

You can always save money on food as well. Let’s face it, students have huge appetites but that doesn’t mean you have to eat at fancy, expensive places. There are plenty of ways to eat for cheap and we aren’t talking fast food here. Compare prices at different places to see which is best. Buy in bulk if possible. Coupons are especially useful for grocery stores and now many have printable coupons online.

Another great way to save money in school is to attend a university online, like Trident University. They are much more affordable and students can still qualify for loans and grants. Class materials are less expensive and being online allows students have a job around their schedule. Following this advice will easily allow students to attend school with breaking the bank or getting a credit card.

Post a Comment

Previous Post Next Post