Student credit card debt : A Survival Guide for students is there. The stress of school and peers pressure is enough to keep the strongest mind busy. Add the problem of credit card debt and stress is compounded. Financial pressure is not what anyone thinks of when college is mentioned. This is a pressure for parents not students. This would be true if the world were a perfect place but it is not and students do worry about owing money they are having difficulty paying.
There is no reason to succumb to debt from credit cards ; there are steps to be taken to relieve the burden of credit cards. A major step is to stop using them. There are many things people do everyday, but if given serious thought they find they can live without it. If a card must be used choose the card with the lowest interest and make a plan to pay off all others. Holding a wallet full of credit cards may look interesting but holding one, possibly two that are rock solid is better.
Shopping with credit cards to keep up with the latest style is neat but the illnesses that stress and worry is capable of bringing on in the long run is not worth the new outfit. If class schedules will allow it pick up a few hours work and put the money towards paying off credit card debt; stick to the plan. Stop all impulse spending. Buying simply because it is there is easy to do and a good way to stay under the financial weight of debt.
Becoming a victim of debt is easy, everyone believes they can handle it but too often Murphy’s Law finds its way into your finances. This is an excellent reason to learn to handle debt carefully. Credit card debt creates a lack of concentration on school work and a job lockout after graduation, a depressing, and devastating circumstance for young people after years of studying.
Students realize all too late the startling amount of debt they are sinking in. With interest and late fees accumulating some opt for leaving school to try and catch this mounting debt. Too many times student s end u getting deeper into life’s problems, never returning to school. The later is clearly not the option to take. Set a budget and stick to it; reward yourself with specialties when you have earned them. Becoming an adult requires owning up to mistakes and sometimes sadly, paying the piper.
Students spend hours studying but adding a course in basic everyday life finance would help a student’s survival guide portfolio immensely. Learn to deal with low interest credit cards or none at all. Stay away from items that serve you no purpose, and live below your means. If that means going to one movie a month, that is the reality of the Real World; sacrifice.
Getting overwhelmed by credit card debt can be avoided if debt relief procedures are followed. This would seem a strategy for people with mortgages and car payments but consider it as an exercise for the Real World. Practicing restraint now will help when the stakes are really high.