Spending during the Holidays
A quick note about holiday spending and credit cards. In a perfect world, everyone would pay cash for gifts they buy, and this includes college students. In reality though, Americans use credit cards to buy gifts. A wise way of spending is to create a budget and stick to it. Everyone knows how much money they have coming in, but it’s the unknown unexpected expenses that could put you in harms way. Don’t max out your student credit cards period, but especially during the holiday season. Use real cash when possible as you are likely to be more frugal with your spending. Putting all gifts on credit cards is not a good idea, unless it is part of a plan in which you pay off the entire balance each month.
Some simple tips include: Stay on budget. Do not overspend. Shop around and avoid impulse buys. Search the web for gift buys to see if you can save money and utilize your debit card (real cash) if you feel comfortable with the site and their security features.
College students should really take a look at how much money they have coming in before spending. Remember, a price tag does not determine the value of a gift. Be wise, frugal and know your college student credit cards are not free money. They are a tool to build credit if you use them wisely.
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Student credit cards.com @ November 22, 2007