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College Students And Money

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We live in an increasing more material world. We have grown to expect instant gratification in every way. We no longer need to go to the bank and stand in line to get to our money. We wave tiny keychain devices in front of a receiver to pay for items at the store. Computers start up in no time and internet information is available on just about any subject that we can dream up in a snap. We don’t even have to walk to the mail box to pay a bill anymore. Remote controls, cell phones and MP3 players ensure that we can get where we need to go, talk to whomever we choose and listen to whatever we want in an instant. Our lives as Americans are full of conveniences and luxuries that our ancestors and people in other countries never dreamed of. So how does all of this convenience affect college students?

Current college students have spent their entire lives in this world of instant gratification and automated convenience. They have access to student credit cards to get them out of a bind, but credit cards can also get them into one. This is actually one convenience that can really help college students get by and help them prepare themselves for the future. Building your credit early is important in this day and age. Soon they’ll be out in the real world, needing to open cell phone contracts in their name, buy vehicles and ultimately buy a house. Keep in mind that most long-term big loan contracts, such as a home mortgage, can require up to an eight year good credit history to qualify. As long as they act responsibly, starting on a credit building financial journey while in college is necessary for those who will eventually buy a home.

Building credit can be accomplished if the right steps are taken. Signing up for a secured credit card is a relatively safe way to teach college students the responsibilities of owning a credit card. Secured credit cards require a deposit and the deposit dictates the amount of credit available. If you deposit $500, then you can spend up to $500. This is a great way to establish credit, or repair credit that has been damaged in the past. When you make your payments on time and when you are overall responsible for your finances, you will build your credit and you’ll usually be rewarded for your efforts. Banks and credit card companies keep track of your history and may offer you a line of unsecured credit or simply increase the amount that you are able to spend on that credit card. You will establish a credit score and be eligible for future loans and unsecured credit cards. Secured credit cards are a great way to teach college students about the discipline of paying off something long-term.

If they learn to avoid the instant gratification trap that they’ve been raised to expect and really only use the credit card for emergencies, then they will be better off in the future. Having a credit score and history that says good things about them will help them take pride in what they have learned and accomplished during their college years and will lay the groundwork for a successful financial life.

College Students And Money

They'll use those computers constantly, to watch funny YouTube videos, to listen to music and to check their MySpace profiles.

With a little help, students also can employ that expensive technology to improve their grades and enhance their money management skills.

Here's a guide for the student in your life.

Note-taking, organization and even choosing the right professor just got a lot easier. With a few clicks, you can find exactly the tools you need to be a successful, and very savvy, student.

HipCal.com can help you stay organized and will even send messages to your cell phone when important deadlines are coming up. You can use this free online calendar to track your own schedule, or use it in collaboration with others for group projects.

MynoteIT.com lets you take, track and organize your notes or research. Upload notes from your computer, or sign on and save them directly to the site. Also, MynoteIT.com will track when your assignments are due.

I-lighter.com takes traditional highlighting to the Web. Highlight, make notes, save, and share Web pages for research or for fun.

EasyBib.com lets you create bibliographies without consulting your MLA or APA handbook. The site prompts you to fill in your sources and then formats a bibliography for printing.

Looking for a little extra homework help? Use TutorLinker.com to find a tutor in your area. Or, make money by registering as a tutor.

Find out how other students have rated the faculty members at your school by checking on RateMyProfessors.com, and schedule your classes with the best.

To navigate the perils of book buying, start with the Web site of your school bookstore. Often you can preorder books online and beat the rush. Many bookstores also have buyback programs at the end of the term.

Bookfinder.com lets you search by ISBN, author or title to find the textbooks you need. Your results will show new, used and even international editions of your book from sellers around the Web.

Tip: If you buy books online, check to make sure that you're getting the correct edition (some professors are particular). Leave time for shipping so you don't end up bookless the first weeks of class.

But remember that just because those book purchases will make a dent in your student budget doesn't mean you have to eat ramen noodles every meal. A little planning, and maybe a bit of income from a part-time job, can help you enjoy the finer (or at least the mediocre) things in college life.

Wesabe.com lets you securely track all your bank accounts from one site. In this online community you'll benefit from any money-saving tips other Wesabe users have provided.

Zoho Sheet (Zoho.com) is a free online spreadsheet that can help you track expenses (tuition, books, travel, etc.) and avoid missing important due dates. Zoho is a lot like Google Docs and Spreadsheets, but has applications such as an online presentation tool (Zoho Show) and online note taking (Zoho Notebook).

Tip: You can access your bank account info and even pay your student loans on the Web.

CollegeHelpers.com lists part-time jobs, summer jobs, and internships specifically for college students. And, FreelanceSwitch.com is a great resource for those not looking to commit to an internship or regular job. Freelance work can be a great way to get a foot in the door of your profession.

Wherever you work, make tax time as painless as possible by checking out what student tax breaks you might be eligible for on the IRS Web site's student section (http://www.irs.gov/individuals/students/index.html), which has specific resources for those in school.

Tip: Your career center's Web site will probably have a job board or database. This can be a great way to find a student-friendly job.

These online resources can help you manage your student budget like a skilled financial planner (who happens to eat ramen noodles once in a while). So this semester, study online for offline success.

[This content was originally published in The Oregonian on September 20, 2007.]

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Both Mary Wallace & Haley Lovett, Findingdulcinea are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Mary Wallace has sinced written about articles on various topics from Credit Cards, Student Credit Cards and Credit Cards. About the Author: Mary Wallace, a retired teacher, is the editor for studentcreditcards.com, a provider of and information plus consolidation. Mary Wallace's top article generates over 1900 views. to your Favourites.

Haley Lovett, Findingdulcinea has sinced written about articles on various topics from Credit Cards. Haley Lovett writes for . E-mail her at haley.lovett@dulcineamedia.com. fin. Haley Lovett, Findingdulcinea's top article generates over 480 views. to your Favourites.

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