Financial tips for college students

Related Photos

Gina Noe Extension Agent

August 25, 2010

Gina Noe Register Columnist The Richmond Register Wed Aug 25, 2010, 10:00 AM EDT

RICHMOND — College students are back. For the next few weeks, things will be a little hectic as they settle into their routines and we adjust to the increase in local population and traffic. Be patient.

One of the biggest challenges of college life is learning to manage money. Surveys of teens say that less than half know how to budget and pay bills. Only one-quarter know how to use a credit card. If you have a family member or friend in college, share the following tips with them and you will be helping a young person develop important life skills so they can live responsibly and independently.

Protect your identity. Keep personal information such as Social Security number, credit card and bank account numbers to yourself. Pick up mail regularly to avoid theft of paper statements. Banking online is a smart idea. Use the Internet carefully. Posting personal information on social media sites such as your mother’s maiden name or your pet’s name can make it easier for hackers to determine passwords and get access to accounts. Make passwords a random mix of letters and numbers. Never respond to e-mails asking for passwords or personal information.

Know the difference between a credit and debit card and how to use them. A debit card is linked to a bank account. Using a debit card takes money directly from that account.

Using a credit card creates a loan. There usually is a credit limit with the card issuer and a minimum payment due each month toward the balance. A charge card is a credit card that must be paid off each month.

Use charge and credit cards wisely. It can take years to pay back large balances. On the flip side, use of credit can help build a good credit history, which is important when it comes to buying a house or car.

So, there are three simple rules to follow when using credit cards:

1) Charge only what you can repay each month except in a real emergency.

2) Look for a card with the lowest rate possible.

3) Don’t apply for more cards than you need.

For more information on financial tips for college students, call the Madison County Cooperative Extension Service at 623-4072.

Educational programs of the University of Kentucky Cooperative Extension Service serve all people regardless of race, color, age, sex, religion, disability or national origin.

Text Only

Lifestyles & Community

Is MSG (monosodium glutamate) harmful?
Monsodium gluatamate (MSG) is a flavor enhancer often added to Chinese food, soups, processed meats and canned vegetables. The use of MSG remains controversial despite a Food and Drug Administration (FDA) statement that it is safe. Because of this, the FDA requires that whenever MSG is added, that it be listed on the label.

February 5, 2012 1 Photo
Common-sense job hunting
I spent a day with a high-powered and high-profile friend who mentioned that he has more than 700 people a year ask him to help get a new job.
He’s not in the employment business, but is super well connected.
Every now and then, he gets the right person to the right job.

February 5, 2012 1 Photo
It’s a love thing
“Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword? As it is written, for thy sake we are killed all the day long, we are accounted as sheep for the slaughter. Nay, in all these things we are more than conquerors through him that loved us. For I am persuaded, nor powers, nor things present, nor things to come, nor height, nor depth, nor any other creature, shall be able to separate us from the love of God, which is in Christ Jesus, our Lord.” — Romans 8:35-39

February 4, 2012 1 Photo
Managing the calving season
Providing sound management during the calving season can mean more live calves.
Excessive losses can mean the difference between a year’s profit or loss for a beef producer.
It is important to have a short calving period to allow frequent observation and assistance if needed.

February 1, 2012 1 Photo
Spinach: It’s not just for Popeye anymore
A spinach-loving reader recently approached me to request a column on things to do with her favorite vegetable.
“Favorite vegetable?” You may ask, and rightly so.
When many of us were growing up …and we’re talking Baby Boomers here, the only spinach product known to us was the stuff that came in a can, and it was, in a word, horrible!

February 1, 2012 1 Photo
Topping trees is a bad practice
Topping damages hundreds of trees each year in Kentucky.
Many people are unaware of the detrimental effects of this practice.
Topping involves the drastic removal or cutting back of large branches in mature trees leaving stubs.
Topping can make a tree hazardous and reduce its life.

February 1, 2012 1 Photo
Tips offered for better credit
Many people are aware that their credit score is important, but do not really understand what it is or how to build a strong credit score.

February 1, 2012 1 Photo
Josh Logan to perform in Kirksville
Hello everyone. Josh Logan will perform at Kirksville Community Center on Saturday from 6:30 to 11 p.m. and will entertain you with some great music.

January 26, 2012 1 Photo
Church group to discuss ‘Bad Women of the Bible’
Tates Creek Baptist Church is having a special Coffee Talk Bible Study to discuss “The Bad Women of the Bible” on Tuesday, Jan. 31, at 11 a.m. in the church, located on Boonesborough Road.

January 26, 2012 1 Photo
Preschool screenings and birthday surprises
Hi!
... and the wind blew and blew. Perhaps this is the windy season!
Where is the snow? Students are starting to do snow dances, hoping they can coax enough snow to fall so they can make a proper snowman.
(I'm sure they hope it will fall on a weekend so they won’t have to miss school! lol)

January 26, 2012 2 Photos
More Lifestyles & Community Headlines

Lifestyles & Community

Search Results

Related Photos

Financial tips for college students

Have you ever attended a meeting of a local government agency or taxing district?

Site Map