7 Tips To Make Students avoid Credit Card Debt

Posted by pak yons on Tuesday, September 4, 2012

A college education is becoming more expensive as time goes on. With student loans into major debt crisis for many people, the problem of added weight after the student credit card debt and financial problems in recent years while following graduation. the project on student debt. However, student credit cards still provide a viable means to build good credit. The following are 7 tips to help you avoid credit card debt college student when you were in college:

1. Eliminate unnecessary expenses
Did you keep your receipt, or down on your monthly statement, highlight the costs that are not necessary. If you are having difficulty determining what constitutes an unnecessary burden, the following is a list of items commonly overlooked:
average student loan debt
• Expensive Coffee Purchasing: Invest in a thermos and start brewing your own stuff at home.
• Energy Drinks: Dispose of money and potentially bad for you. Drink more coffee homebrewed.
• Magazine: Just spend time reading magazines at the bookstore or online.
• Expensive Clothes: In college, you just need clothes to cover your body and keep you warm. New Fashionable Clothes luxury beyond your spending limit.
• Film: cheaper to rent a DVD, and besides, you have to learn more.
• Satellite or Cable TV: you have to learn.
• Video Game: It remains to be studied.
• Costly Care: Caring for body and appearance is important, but if you prefer to use your student credit card, you probably should not buy it.
• Dining Out: Food is a necessary expense, but one that became unnecessary when it should be presented to you in a restaurant with a sit relaxed.

2. Create a Monthly Budget
Now that you've eliminated the costs that are not necessary, create a monthly budget that covers the costs, such as housing, utility bills, food, gas, insurance, cost of books, school supplies and a parking permit. Once you make a list of the costs, determine what skills you have, and where you may need some help from student credit cards. * Use your student credit card if it is forced to use it.

3. Save Credit Emergency
Student credit cards can be seen as a final attempt to make emergency payments. No, not emergency expenses including trips to the cinema or a cup of coffee at a price of $ 6. Plan to use a credit card for emergencies, such as:
• unexpected car repair
• Prescription drugs, hospital visits, medical expenses, emergency repair where you live •
• Any bills that impose hefty fines for late payment
Miscellaneous fines, such as parking tickets.

4. Avoid Paying the Minimum Monthly
Do not deceive just to pay the monthly minimum. If you do, you will only end up paying interest on the debt, credit card debt leaving you in a constant state. If your credit card outstanding students are at a point where he is almost out of control, making it a part of the costs you. Set aside some money in your monthly budget is more than the minimum payment required, and start paying your debt gradually.

5. Top Paying Debt Past
If, for any reason, you have more than one credit card student, began to climb our way out of debt by paying off the card with the highest interest rate first, and the minimum payments on the others. Having taken care of the student credit card with the highest interest, start working on paying back the next card. After all the students paid off credit cards, store your plastic and just use it for emergencies.

6. Parents Let You Become Co-Hand
While some students are opposed to allowing their parents to be a co-signer on a student credit card, it can really help keep them out of trouble, especially when the mother or father are allowed to view their monthly reports. With the Credit CARD act of 2009, it is difficult for students to even get a credit card without a co-signer, unless they have proof of adequate income. Having a parent as a co-signer on a student credit card can be seen as a safety net, so take advantage of the opportunity if your parents are willing.

7. Keep track of your Credit Card Payment and Expenses
Investing in the dry-erase board, and record your student credit card fees, and how much you owe each month. Hang dry-erase board somewhere you have to see every day, such as on your refrigerator. This allows you to have a reminder, a constant visual to help you manage your credit card debt.

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