You can just imagine how expensive being in college is nowadays. There are many things you have to pay for including tuition, textbooks, dorm, and lots more. The last thing you need in college is paying for debts.
But why do many students end up owing a big amount of money to others? One obvious reason is the fact that they spend more than what they have. They can’t manage their finances correctly and tend to spend on unimportant things such as buying the latest gadgets, shopping for trendy outfits, or partying with friends often. Now you can avoid these mistakes and keep yourself debt-free while in college by avoiding the following:
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There are many credit companies that offer students credit cards on campus and malls. Learn to say no to them. There are those who immediately grab the chance of having a credit card just because they want to buy something without having to pay for it immediately. There is nothing wrong with having your own credit card but remember that having one with you makes you prone to impulse buying. Before you know it you’ve maxed out your card and can’t afford to pay.[/messagebox]
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There are also companies that offer student loans especially to those attending college. They offer students an attractive amount of money, something you can’t refuse. Be careful with availing student loans since there are those that charge a huge interest on your loaned amount. In case you badly need the money and a student loan is your only choice, be sure that you only borrow an amount you can afford to pay. [/messagebox]
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Many college students don’t want to be left behind. Just like with other kids their age they want to be accepted and labeled as cool. This is why they sign up for services which others like them enjoy. Unless you we were born with a silver spoon in your mouth, you have to set limits. Going to movies most of the time, dining in expensive restaurants, or having an expensive cellular phone may make you popular but they can also cause debts. Instead, settle for a lifestyle you can afford and be happy with. [/messagebox]
There are other things you can do to avoid debt in college such as having a part time job or applying of scholarships and grants. This way you get to enjoy college life and at the same time keep yourself from having debts.
Photo courtesy of PT Money, Flickr / Creative Commons