It’s hard to cross a university campus these days without seeing at least one flyer, pamphlet, or kiosk promoting a new student Visa credit card or student MasterCard. 
“No interest for 6 months!†“No credit history? No co-signer? No problem!â€
The student credit-card offers often seem too good to pass up. But are they?
anking: Christmas club savings accounts.
These accounts – which were pioneered during the Depression – help people save for a large expense, namely, holiday shopping. Each week or month, a fixed amount of money is deducted from your checking account and deposited in your Christmas club savings account. Over the course of the year, the balance grows, and, come October or November, the balance is transferred back into your checking account for holiday spending.
Sounds like a great way to save for gift shopping – and to avoid credit-card debt – right?
Well, not exactly. (more…)
Personal finance was never really that important to me growing up. Sure, I had an allowance in middle school and a few after-school and summer jobs in high school, but things like budgeting and investing were never really that important.
When I was a senior in high school, I came across a way around my biggest overhead cost: whenever my gas light came on, I’d trade cars with one of my parents for a day or two. It never failed: next time I hopped in my ride, the needle would be hovering somewhere between three-quarters and a full tank.
Then came last August, when I suddenly found myself stranded on the island of Manhattan, attending a private college with no meal plan (and no mother making sure I had three meals a day) in the busiest and most expensive city in the country.
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