It is very easy for recently independent college students to spend too much money on fun entertainment activities, like visiting clubs and nightspots. Be more financially responsible than your peers; save money and manage finances appropriately instead of spending all your money on unnecessary things and going into debt.
If the time isn’t right, try not to sell. If your stock is performing well, hold off on making any moves. Consider any stocks that aren’t performing well, and think about moving them around instead.
To maintain a good credit score, use more than one credit card. Remember, however, not to go overboard; do not have more than four credit cards. Using one credit card will make it harder to build your credit up, however, using too many cards can also negatively impact your credit. Begin with just two cards to raise your credit; you can always add more when it becomes necessary.
Save a ton of money while traveling abroad by avoiding the touristy areas and opt for local restaurants and cafes. Any restaurants in a tourist area, as well as the hotel, will be vastly overpriced so eat at the same place as the locals. This way, you can find good food at affordable prices.
If your debt has been turned over to a collection agency, keep in mind that if the debt is not collected, it will eventually expire. Talk to an expert about your collection debt, and don’t pay anything until you are sure that it is yours.
Instead of the debit card, use credit cards. Once you have a credit card, put it to use for daily expenses like food and gas. By purchasing items with your card, you will usually gain rewards, such as cash or maybe even frequent flier points.
Don’t become so overwhelmed by debt that the mountain of unpaid bills grows higher by the month. Start with a budget plan. Remember what you’ve learned here so you don’t ever have to deal with debt collectors.
