Bad Credit Cards and How to Avoid Them

What’s worse than bad grades? Empty pockets and bad credit cards! Because then, you have no other option than to bear the silent treatment you might be served with and the death stares every now and then. But that doesn’t necessarily have to happen, and it won’t if you manage the studies and the newly found independence well without getting yourself under the piles of debt in a tender age. The careless use of credit cards could not only threaten your freedom for some time (heard of being grounded) but would also be a bad omen for the beginning of practical life with no savings at all (cursed business perhaps?). Let us assist you in the state where you’re hanging in the middle of the desire to follow each fad and proving to be a responsible young adult. 1. Remember That Budgeting Is Not ‘Old School’ Did you watch your dad make a whole list pertaining to what he’d buy with his salary and thought ‘I would never be doing that un-cool stuff when I have so many bucks in my pocket’? Well it’s time you get a reality check because that is exactly what you do even if you have not started earning yet, managing money takes time but is worth each penny. 2. Have a Plan Do you wish to go on your dream vacation and broaden your horizon? Make a plan first and that is only going to be helpful so to give you a reality check about what are the items exceeding your limited credit amount. Give out the aura of responsibility to your parents, so they might consider revising your credit limits or better, trust you with money more than they do at the moment (ever heard of probation period? This is yours). 3. Have a Priority List You might not be able to live without the grocery items you need every day (living separately teaches you all the boring stuff first), but you can very easily breath and survive without the fancy clutch you eyed yesterday costing you half of your mini fortune. Having a priority list is what you need at the moment, not only to organize your new adult life but also to make the most of the money you possess and not hit the bad creditor list. 4. Monitor Usage ‘I know what you did last summer’, and you know that too by the way. Thus, if so much is so easily known, you would find out about your spending habits too and all the carefree usage of credit cards. Having guilt trips? Good for health. Now, monitor the ATM usage and set a limit for yourself to follow. 5. Don’t Splurge Where You Can Save If you can buy textbooks that have been slightly touched and turned a few pages of, by someone; for a low price than the ‘baked fresh’ ones captivating your senses, go for the former. This is one thing you could save a lot of bucks on during your college life. Same goes for the items that could be obtained at lower prices, do not fall prey to the gloss of packaging when you know you can use the extra bucks in something useful (to go out for a movie or buy a new dress?). 6. Use the Smartphone Applications The smartphone could be your best friend and the apple of your parents’ eye if you use it for something really productive, such as to use it for applications that help you manage your finances and polish you into being a responsible adult. Live the dream of a carefree life by taking the baby steps, a sharp infant who knows what’s right and where’s left!