Northern Poconos Real Estate News

Paying for something with a credit card instead of cash can be easier for a number of reasons. While it can be difficult to find an ATM when you need it, carrying around a lot of cash can be dangerous, and some things are nearly impossible to buy with cash.

And by “cash,” we also mean a debit card, since money that’s pulled immediately out of a bank account through a debit card doesn’t have as many protections as a credit card does.

Building good credit in college is one of the best financial moves students can make. Having good credit allows them to qualify for loans, rental applications, auto insurance, phone plans and can help them get a job.

Being responsible with credit is the best way to establish and improve a credit score. For college students without much credit history, there are small but important steps they can take to build up their score.

Obtaining a Student Credit Card

You can never be too young to learn the true value of saving. For children, however, the concept of money is much different than the reality. But that doesn’t mean you can’t teach them how to save—even their pennies—responsibly. 

You most likely know that having a good credit score is important if you want to qualify for a mortgage, auto loan or credit card. You might not know that your credit score can affect many other areas of your life. 

People sometimes take on more debt than they can handle or spend money on nonessential items instead of paying their bills. This is why companies often perform credit checks before agreeing to provide services. Credit history can even affect a person’s employment prospects.

As a parent, you’ve undoubtedly thought about your child’s college education—no matter what their current age is. And if you’re planning on paying their way, or at least helping them out, cost is certainly a factor.

Unless you’ve got a huge sum of cash to plunk down when it’s time to pay, chances are you’ll need to find multiple ways to fund your child’s education.

Here are seven options to consider:

If you’re like most college graduates, odds are you left school with more than a degree and fond memories: You probably racked up student loan debt.

For many Americans, this debt totals tens of thousands of dollars and often feels like a huge financial weight. Furthermore, repaying student loans can take some borrowers over 20 years. To help alleviate that burden and pay off your student loans faster, here are six strategies to consider:

College tuition can cost tens of thousands of dollars, and students often use loans to help pay for their education. However, many don’t take advantage of available scholarships, essentially missing out on free money. According to Sallie Mae, a leading student lender, it comes down to a lack of awareness and common misconceptions about what it takes to qualify.

To help students and families cash in on college scholarships, Sallie Mae offers the following five tips: