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

Happy are they who finish what they start
Happy is that people, that is in such a case: yea, happy is that people, whose God is the Lord.
— Psalm 144:15

May 26, 2012 1 Photo
Looking at various things
During my eight years away from home (Richmond and Madison County) the post office tower was a beacon welcoming me home.
Today, the the stone edifice completed in the 1892 as a post office and federal courthouse is the Madison Hall of Justice.

May 21, 2012 1 Photo
Things are different than when we were young
I was just thinking the other day about how confused we seniors are most of the time. Things are so different than when we were young. We find it hard to understand much of what we are confronted with.
Some things like this happen to us frequently. We begin a conversation with, “In my day.” We look so old we are followed around by archeologists. We tell our kids that old age causes us to become wiser and they tell us, “Then you must be a genius.” We no longer look forward to a wild evening out, but look forward to a dull evening in.

May 21, 2012 1 Photo
We are heirs and joint-heirs to His kingdom
“For as many as are led by the Spirit of God, they are the sons of God.
“For ye have not received the spirit of bondage again to fear; but ye have received the Spirit of adoption, whereby we cry, Abba, Father.
“The Spirit itself beareth witness with our spirit, that we are the children of God:
“And if children, then heirs; heirs of God, and joint-heirs with Christ; if so be that we suffer with him, that we may be also glorified together.
“For I reckon that the sufferings of this present time are not worthy to be compared with the glory which shall be revealed in us.
“For the earnest expectation of the creature waiteth for the manifestation of the sons of God. — Rom 8:14-19

May 18, 2012 1 Photo
How little exercise is necessary for good health?
How little exercise is necessary for good health?
That question was the subject of a recent investigation by a team of exercise scientists at McMaster University in Hamilton, Ontario, and the answer seems to be a lot less than we might think, as long as we’re willing to put in the effort.

May 12, 2012 1 Photo
A mother’s love never stops
A mothers love will always be there. Even when everyone else stops to rest, her love for her family continues. She is always working, carring and sharing what she has with her children, even if she has to do without for herself.

May 11, 2012 1 Photo
Start planting your hot weather vegetables now

Hopefully, the unusual spate of unseasonably warm weather we had earlier this spring did not fool you, and you’ve been patiently waiting to get your hot weather veggies, such as tomatoes and peppers, into your summer vegetable garden.

Now is a good time to start planting these delectable goodies.

May 7, 2012
Rethinking the benefits of crunches
I’ve been doing crunches all my adult life and it may be one of the reasons I have back problems. Research from the University of Waterloo in Ontario has found that repeated bending of the spine, such as occurs when doing crunches, can contribute over time to damage of spinal discs. The results are presented — along with a lot of other useful information — in the book, “Ultimate Back Fitness and Performance” by Stuart McGill.

May 5, 2012 1 Photo
Is 401(k) good for America?
Internal Revenue Code section 401(k) is the only section of the US tax code that average people can cite.
They know it has something to do with whether or not they can retire with dignity. Or retire at all.

May 5, 2012 1 Photo
He is there when you need Him
Whither shall I go from thy spirit? or whither shall I flee from thy presence?
If I ascend up into heaven, thou art there: if I make my bed in hell, behold, thou art there.
If I take the wings of the morning, and dwell in the uttermost parts of the sea;
Even there shall thy hand lead me, and thy right hand shall hold me. — Psalm 139:7-10

May 4, 2012 1 Photo
More Lifestyles & Community Headlines

Lifestyles & Community

Search Results

Related Photos

Financial tips for college students

A recent health ranking listed Madison County as the 20th healthiest county in the state. It measured factors such as exercise, access to health care and smoking. Do you smoke cigarettes?

Site Map