It really depends on the person. I think a credit card is great for a student assuming he/she can use it responsibly. They need to understand how it works. They should only use it for purchases they can afford and pay off the balance immediately. This advice goes for anyone who might want a credit card.
Not if they aren't making the payments. If mom and day are making the payments, the student is sheltered from the consequences. But if they have a job and are managing their own financial affairs, that's a different story. Still, not a good a idea.
I don't think that they need one. I'm sure there are people who have done just fine building credit in other ways. I plan on researching and teaching my kids alternate ways to build credit when the time comes. Hopefully, businesses will have moved away from that being the main way to show that you are trustworthy with a loan.
Only for emergencies! And they should have been taught how to use them by their parents in grade school and beyond. Credit card debt is just DEBT that they will have to pay back and they need to understand that first and foremost. You can't get something for nothing!
College students should have a credit card, especially if they're studying far from home, have a car, or are even studying abroad. I got my first credit card before studying abroad just in case any unexpected expenses came up. I didn't need it while abroad, but once I got back I started to use it once a month or so to build credit. Now I use it much more freely, but I still make sure to pay it all off each month.
I freeze cheese all the time, even cream cheese in the brick, not whipped. Whole cheeses do tend to get crumbly, so it's not very good for a cheese platter and plain ricotta, (not in a "freezer meal"), tends to get watery, but other than that I would say go ahead! It's really handy to have some cheese in the freezer to throw in soups, on baked meals, and in salads!
I say yes -- but not right away. My parents made sure my siblings and I could responsibly handle money in college before allowing us to get credit cards. We got our credit cards in part way through so we could start building credit experience. We used them as debit cards though -- they got paid off immediately.
I don't think there's one right or wrong answer. It depends on how responsible the student is. Still, I think it's better to get that "hooray I'm free!" impulse long out of the way before getting a credit card.
Our first kid is going off to college, freshman year, so we've discussed this recently. We have told her we will not cosign for a credit card, that this is something she will need to get on her own, and recommend waiting until she is at least 21 before doing so.
I'm with Joe on the oil, and take it a little further. As part of the steps of Your Money or Your Life, I calculated my real hourly wage. When I applied that to things like oil changes and laundry (sitting in laundromat vs having laundromat ppl do for per-pound rate), it totally made sense for me to pay someone else to do these things that I didn't like to do and that ate up a lot of time for me to do - it "cost" me more to do it myself and honestly, the real cash-cost of having someone else do it was not significantly different than the real cash-cost of doing it myself.
These all seem like hobbies - not serious ways to save money. I mean, crocheting? Just buy a sweater at Goodwill and save yourself 15 hrs. of work. How much is your time worth, anyway?
This comment embarrasses me as a service member. I'd like to apologize on behalf of everyone in the military that isn't a toxic, close-minded Philistine spewing vague patriotic and political rhetoric, picking fights for no apparent reason.
You can get that SAME STUFF at Walmart for so much cheaper (including the "after ECB" deals, which doesn't count, because you're STILL paying the same price out of pocket!!!!) Not to mention, Nexxus is supposedly sooo good because its sulfate free- well so is my $8.00 shampoo! It does NOT need to cost $20 for a bottle of shampoo. I say **** the system, its not a scam, CVS, Nexxus, and other corporations are the ones scamming US!
Besides, Jessika didn't set out to scam- she said she bought the wrong stuff, and still got to keep the coupons. More power to ya Jessika.
I know all the self talk and agreeing with reasoning myself in certain situations, but the physical symptoms is uncontrollable (hands tremor, inability to concentrate, forgetfulness...etc.) despite the understanding, it's SO frustrating and energy depleting.
What to do with it? It can be a deal breaker on the job interview.
Its funny your mocked for years living this way by others or relatives who buy for themselves nor care how much it is and they end up asking you for money..
I love these tips! I always say the best way to save money is to DIY, DIY, DIY! I do need to brush up on changing a tire and changing oil. I am really bad with cars. Hey - living in Jersey, I don't even pump my own gas lol! I do need to try and learn these skills to save myself money though. Thanks for the inspiration!
great post! one other thing i've found is that the Kelly Blue Book value is really just a rough guide. I like to also check Ebay COMPLETED listings (since what a car actually sold for is the best guide, like a comp in real estate). I also like to look at Carmax prices since they're no haggle and a pretty reliable gauge of what a dealer sells a top quality used car for. i learned a ton of great tips in this book i read: http://www.amazon.com/Sell-Craigslist-Autotrader-Ebay-ebook/dp/B008MQS09...
If I remember correctly (I'm not a pediatrician either), our babies need more calories at about 1 year than breastmilk can give them, so based on their normal growth and development, that is the change that happens at about one year. I would recommend consulting with someone with a medical or scientific background for the most accurate information. It's amazing the breadth of knowledge that they have, having gone to medical school/internship/residency for 6 to 9 years.
Forgiven debt = taxable income. Your example in your post was correct. A loan balance of $500k - the $150k sale = $350k of forgiven debt. The lender could choose to 1099 the borrowers (some do - some do not) and they would have to report that as income.
Painting is my favorite way to change a room because it makes a huge difference, it's relatively inexpensive, and it's usually something you can accomplish in a weekend.
I have a special savings account at ING set aside for home renovation projects. We've got some bigger projects in mind for our new home, but the first step is getting the rooms we aren't going to renovate painting some color other than industrial white.
As soon as enough money is saved up in the account (from automatic transfers) to pay for painting a room (usually $60-$100, depending on how much paint you have to buy, and if you already have the supplies you need like brushes and drop-cloths), I transfer the money into my checking account and make a trip to the hardware store.
In the ten months that we've owned our condo, I've painting three rooms. It feels more and more homey by the day. :)
I love this article! People don't realize the hidden costs that are out there.
Sometimes a bargain is not a bargain.
It really depends on the person. I think a credit card is great for a student assuming he/she can use it responsibly. They need to understand how it works. They should only use it for purchases they can afford and pay off the balance immediately. This advice goes for anyone who might want a credit card.
Yes, college students should have a credit card. It should have a very low limit, and be paid off every month.
Not if they aren't making the payments. If mom and day are making the payments, the student is sheltered from the consequences. But if they have a job and are managing their own financial affairs, that's a different story. Still, not a good a idea.
When I was in college, I had only a debit card. If I had to worry about paying bills while getting a tough degree, I would have messed up my credit.
I don't think that they need one. I'm sure there are people who have done just fine building credit in other ways. I plan on researching and teaching my kids alternate ways to build credit when the time comes. Hopefully, businesses will have moved away from that being the main way to show that you are trustworthy with a loan.
Only for emergencies! And they should have been taught how to use them by their parents in grade school and beyond. Credit card debt is just DEBT that they will have to pay back and they need to understand that first and foremost. You can't get something for nothing!
College students should have a credit card, especially if they're studying far from home, have a car, or are even studying abroad. I got my first credit card before studying abroad just in case any unexpected expenses came up. I didn't need it while abroad, but once I got back I started to use it once a month or so to build credit. Now I use it much more freely, but I still make sure to pay it all off each month.
I freeze cheese all the time, even cream cheese in the brick, not whipped. Whole cheeses do tend to get crumbly, so it's not very good for a cheese platter and plain ricotta, (not in a "freezer meal"), tends to get watery, but other than that I would say go ahead! It's really handy to have some cheese in the freezer to throw in soups, on baked meals, and in salads!
I say yes -- but not right away. My parents made sure my siblings and I could responsibly handle money in college before allowing us to get credit cards. We got our credit cards in part way through so we could start building credit experience. We used them as debit cards though -- they got paid off immediately.
I don't think there's one right or wrong answer. It depends on how responsible the student is. Still, I think it's better to get that "hooray I'm free!" impulse long out of the way before getting a credit card.
Our first kid is going off to college, freshman year, so we've discussed this recently. We have told her we will not cosign for a credit card, that this is something she will need to get on her own, and recommend waiting until she is at least 21 before doing so.
I'm with Joe on the oil, and take it a little further. As part of the steps of Your Money or Your Life, I calculated my real hourly wage. When I applied that to things like oil changes and laundry (sitting in laundromat vs having laundromat ppl do for per-pound rate), it totally made sense for me to pay someone else to do these things that I didn't like to do and that ate up a lot of time for me to do - it "cost" me more to do it myself and honestly, the real cash-cost of having someone else do it was not significantly different than the real cash-cost of doing it myself.
Well, such a list of articles! But they are all worth to read! Thanks.
mini-Olympics with friends whether its a sport, series of parlor games, or quiz games. fun frugal bbq to cap off the "event".
These all seem like hobbies - not serious ways to save money. I mean, crocheting? Just buy a sweater at Goodwill and save yourself 15 hrs. of work. How much is your time worth, anyway?
This comment embarrasses me as a service member. I'd like to apologize on behalf of everyone in the military that isn't a toxic, close-minded Philistine spewing vague patriotic and political rhetoric, picking fights for no apparent reason.
You can get that SAME STUFF at Walmart for so much cheaper (including the "after ECB" deals, which doesn't count, because you're STILL paying the same price out of pocket!!!!) Not to mention, Nexxus is supposedly sooo good because its sulfate free- well so is my $8.00 shampoo! It does NOT need to cost $20 for a bottle of shampoo. I say **** the system, its not a scam, CVS, Nexxus, and other corporations are the ones scamming US!
Besides, Jessika didn't set out to scam- she said she bought the wrong stuff, and still got to keep the coupons. More power to ya Jessika.
I know all the self talk and agreeing with reasoning myself in certain situations, but the physical symptoms is uncontrollable (hands tremor, inability to concentrate, forgetfulness...etc.) despite the understanding, it's SO frustrating and energy depleting.
What to do with it? It can be a deal breaker on the job interview.
Its funny your mocked for years living this way by others or relatives who buy for themselves nor care how much it is and they end up asking you for money..
I love these tips! I always say the best way to save money is to DIY, DIY, DIY! I do need to brush up on changing a tire and changing oil. I am really bad with cars. Hey - living in Jersey, I don't even pump my own gas lol! I do need to try and learn these skills to save myself money though. Thanks for the inspiration!
I love these tips! People can save so much money just by avoiding common money misconceptions like these!
great post! one other thing i've found is that the Kelly Blue Book value is really just a rough guide. I like to also check Ebay COMPLETED listings (since what a car actually sold for is the best guide, like a comp in real estate). I also like to look at Carmax prices since they're no haggle and a pretty reliable gauge of what a dealer sells a top quality used car for. i learned a ton of great tips in this book i read: http://www.amazon.com/Sell-Craigslist-Autotrader-Ebay-ebook/dp/B008MQS09...
If I remember correctly (I'm not a pediatrician either), our babies need more calories at about 1 year than breastmilk can give them, so based on their normal growth and development, that is the change that happens at about one year. I would recommend consulting with someone with a medical or scientific background for the most accurate information. It's amazing the breadth of knowledge that they have, having gone to medical school/internship/residency for 6 to 9 years.
Forgiven debt = taxable income. Your example in your post was correct. A loan balance of $500k - the $150k sale = $350k of forgiven debt. The lender could choose to 1099 the borrowers (some do - some do not) and they would have to report that as income.
Painting is my favorite way to change a room because it makes a huge difference, it's relatively inexpensive, and it's usually something you can accomplish in a weekend.
I have a special savings account at ING set aside for home renovation projects. We've got some bigger projects in mind for our new home, but the first step is getting the rooms we aren't going to renovate painting some color other than industrial white.
As soon as enough money is saved up in the account (from automatic transfers) to pay for painting a room (usually $60-$100, depending on how much paint you have to buy, and if you already have the supplies you need like brushes and drop-cloths), I transfer the money into my checking account and make a trip to the hardware store.
In the ten months that we've owned our condo, I've painting three rooms. It feels more and more homey by the day. :)