Everyone would agree that college education is not cheap. However, that is somehow not the main problem why a lot of college graduates spend the next 20 years after graduation to pay off their huge student loan and credit card debt. Lack of self control and irresponsible behavior regarding the use of financial resources are the real problem among most college students.
However, you can still survive your college years without getting yourself into a deep credit card debt problem, just take a look at these simple college advice to get you through your education with less credit card debt.
Be reasonable with your credit card
Nowadays it’s not so surprising to find a college student who has credit card debt up to $7,000 and even more. Please note that it’s from their credit card alone, not including their student loans.
It’s not a crime for a college student to get a credit card, but since they are young people who don’t have a lot of experience with money management, they tend to overspend.
If you don’t want to get into a credit card problem, make sure you put your credit card at the bottom of your wallet and use it only for emergency or to make necessary large purchases that you know you’re able to pay back in a month. It’s also a good idea to call your credit card provider to set a $500 limit on your credit card.
Create a weekly spending plan
It’s no fun at all but this is extremely helpful and will keep you away from a lot of financial problem. A spending plan will help you focus on necessary stuff and your basic needs and avoid you to overspend.
Make the most out of your student loan
Regarding financial sources, student loan is always a better option than student credit card, it won’t burden you too much after you graduate. Just make the most out of it, make sure you use it wisely to get through your college education.
Think Twice About Graduate School
Some students might want to go to grad school right after they finish college. There’s nothing wrong with it, but if you think about you’ll be sacrificing the chance to get work experience, which is really important for your future career, not to mention that you also going to make a huge financial sacrifice.