Both lender and borrower are faced at the outset with a basic decision - to obtain a loan that is either secured or unsecured. But, what does that mean, and what are the differences of each? Continue reading →
Avoiding Credit Card Debt in College
posted by iliah in March 10th, 2008
Most of college students are inexperienced in the using credit cards, they can easily fall prey to what we call as ‘college student credit card debt’. In fact, college student credit card debt is one reason why the credit card suppliers keep a lower credit limit on college student credit cards. The solution for avoiding college student credit card debt is similar to what it is for avoidance of any type of credit card debt. So, the first thing for avoiding college student credit card debt is to understand the concept that credit card is not free money and that whatever you pay-for using your credit card has to be paid back to the credit card supplier when your credit card bill arrives. So never treat credit card separate from hard cash.
Avoid overspending. Buy only those things that you really need. A good thing to do is to prepare your monthly budget and follow it religiously.
Another very important preventive measure for avoiding college student credit card debt is to avoid going for a second credit card. Some students have a tendency to go for multiple credit cards just because the credit limit on college student credit cards is very low. However, this is a perfect recipe for getting into a college student credit card debt. This is how college student credit card debt builds up. One credit card is more than enough for any student.
Student Loans, Not Cheap Money
posted by Tanita in February 20th, 2008
Few areas of credit are as complicated today as that of student loans. There are many types, with lots of terms, complicated conditions, and fine print.
One of the most common options is a Stafford loan. Hundreds of thousands of students have used these as a means of partially financing their education and they do have some positive aspects. Continue reading →
Getting a Car Loan? Do Your Homework First
posted by iliah in November 14th, 2007
If you are thinking about purchasing a car or refinancing your car loan, you should do your homework and perform simple research before making a decision.