Should You Have a Credit Card?

BEWARE! The moment that most people enroll in college they begin receiving multiple offers for Credit Cards. The problem is that many students begin envisioning all the great things they can buy with this new "Financial Freedom". Most students don't take the time to think things through before running up that bill. I can speak from firsthand experience, I can remember buying that Playstation (yes the first one, man does that date me!), and it only took me two years to pay off! The sad thing is that some people can take up to five years or more to pay for their purchases!

Before you sign up for every offer that you get take the time to do some planning and research, you'll thank me!

* Use one card and only for emergencies, unless you can pay it off each
statement cycle!

* Check the APR % you don’t want anything above 15% for your first card

* Make sure there are no hidden annual or monthly fees

* Resist the temptation to take it with you on the nights you go out, bar
tabs can get expensive especially when you’re drinking!

* If you can’t afford to pay cash for something you can’t afford to use
credit!

* Always try to at least double the minimum payment

* Most importantly always pay on time, late fees can turn into a nightmare
very quick

My best advice would be to try and avoid them at all costs, but it is good to have one for an emergency so you have some back up besides calling Mom and Dad! There is an article on the same subject at Credit cards teaching students a costly lesson

Sneaky Tips for Saving Money

I know a lot of people like to throw parties at their house, apartment, or whatever you call your domicile. You also want to be known for throwing killer parties. Well one little trick can save you quite a bit of money in the long run.

You basically buy premium liquor once and save the bottles. Once you finish the premium liquor you simply refill it with the cheap store brand stuff as long as it doesn't taste like toilet water. Most people won't notice as they are going to be drinking more than just a couple. You can even charge a couple of bucks for drinks and turn a nice little profit. Pretty soon you will have a nicely stocked bar. Just remember to card people as they arrive unless you're willing to take the risk of serving minors. My roommate and I did this and were known for having a nice little stockpile of booze. We also turned a nice little profit that payed for the booze and then some!