Finance is not an easy subject for students. You need to plan your finances well during your student life. College students are generally low on money. There are many finance options for students but they need to take every step carefully so as not to fall in the trap laid by credit card companies. Here are some Quick Tips that students will find useful.
Choose the Discount Offers Carefully:
There are various types of discount offers including those made by ticket sellers and retail stores. There are various terms and conditions attached with offers like those made by retail stores so be careful about that and read the terms.
Choosing the Right Student Account:
You have various considerations for choosing the right student account for you. Many students look for the lowest credit rate of interest. You should ensure that you get the highest overdraft facility. Find out the bank that offers the highest overdraft facility. To make it easy for you, try opening an account at a branch that is nearest to your university or home so that you can use the services whenever you want.
Spend your Money Wisely:
If you get money from your student loan, you should spend it wisely. It is better to set a budget and follow it strictly so that you will not run out of money soon.
Save Money During the Summer:
Whenever you get the opportunity to work during the holidays, try to save as much money as possible. You can use the earnings later when you really need the cash. Student loan payments often run out so you won’t be in trouble if you saved money earlier.
Choose a Credit Card Wisely:
Try to get a student credit card with the lowest interest rates. Your bank will offer you a credit card usually with higher interest rates and a limit around $1000. You can also check out prepaid credit cards offered online.
Save Yourself From Fraud:
Don’t hand out your credit card or PIN to anyone. According to various surveys, many students do it and this puts them into serious risks of getting defrauded.
Check your bank account regularly:
Login to your bank account (use online banking) to check its status regularly. Do not overspend your money on unnecessary items.
Card Stolen? Contact Customer Support Immediately:
Whenever you are in doubt that your card number or bank details have been stolen, contact the bank customer support to block your credit card or bank account. This is to ensure that no one uses your details to siphon out money from your credit card or bank account.
Use File Shredders:
Do you have any bank or credit card information in your computer? Even if you have deleted it, it can be recovered using file recovery programs. So use a file shredder software to permanently remove it from your computer so that no one is able to recover the “shredded” information. Find out a good and free shredder.
Stay Cautious in Shared Accomodations:
Your card or bank details or even cash can be stolen in various types of shared accomodations. So be careful about that and take extra steps to ensure that your computer is locked & your belongings are safe.
Contact an Advisor in Your University or Bank Branch:
If you are facing serious financial difficulty, contact an advisor in your university or your bank to suggest options to help you out. You may get hardship advances in some cases.
Do Not Write Down Your Financial Details:
Do not do this as you will be at risk of someone stealing your details. Contact customer support if you suspect that your details are stolen.
Insure Your Bikes or Belongings:
Specialist insurance covers are available for students that will help you prevent financial trouble in case your “precious” goods are stolen in college or shared accomodation.
You can find more Money Tips for students at http://www.getrichslowly.org/blog/2006/08/30/27-money-tips-for-college-students/
Read on for even more practical finance tips at http://www.moolanomy.com/1868/practical-finance-tips-for-college-students/