As a student you are expected to ‘live within your means’ and it can be difficult to keep yourself on a strict budget. Finding ways to ensure your current financial resources cover all of your needs and not relying on credit cards is an ongoing challenge for most students. Therefore, it is important to maximize your financial knowledge.
Annual Credit Report - When it comes time to borrow money from a bank the determining factor will be your credit history. If you have struggled to pay your bills on time or been through other financial difficulties you should understand what lenders will see in your credit report. You are entitled to one free credit report from each of the three credit agencies every year. One suggestion is to obtain one report from an agency every four months. This is the only website where you can obtain a free report; do not be misguided by other agencies offering to send you the report for a fee or require you to sign up for a trial period.
Credit Card Tips - Properly managing a credit card is a big responsibility. Credit cards can help establish and improve your credit score if they’re used properly. They can also damage your credit score and get you into serious debt if you don’t know what you’re doing. Use the tips in this PDF to make sound financial decisions.
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- MyFiCO's Credit Education - helps you understand how credit is granted and how bad decisions impact you later in life. Tips are offered to help you boost your score and prepare you for applying for future financing. Avoid being a victim of identity theft by using suggestions on myFiCO. A glossary of credit related terms is included to help you better understand what you are applying for.
- Understanding and Managing Credit - Credit has many meanings in our lives…credit for classes we take in school, credit for doing a good job at something, credit due on our accounts when we pay too much. Understanding credit and managing credit correctly can make that confidence others have in you a permanent part of your life by starting here!
- Coping with Debt - The Federal Trade Commissions's tips on managing your debt.
- Motley Fool's Reduce Your Debt is a six-step action plan for getting your debt under control.