College Admissions
Money
1. Save, save, save
2. Join a bank with low fees/ no fees, college student discounts (Educator's Credit Union has no fees/low fees)
3. Understand the way debit cards work
4. Only use credit cards in EXTREME emergencies and if possible not at all
5. In case you choose to ignore #4 you and your family should watch....
The film Maxed Out; it's an eye-opening look (as opposed to an eye-closing look?) at how the credit industry works. In a brutally honest way it shows the dangers of indebatedness, the cycle of hopelessness that people find themselves trapped in. About fifteen minutes into wating the film you will understand this simple fact: just because someone is willing to lend you money does not mean that you can afford to borrow it.
The basic gist of the documentary is that the credit card industry encourages fiscal irresponsibility, extending credit to people so that they will spend beyond their means, because that's how credit card companies make their money. There's something in it for them, big time. And that huge multi-billion dollar money-making machine will grind you up if you get caught in it.
6. Develop a budget and learn how to stick to it; be conscious of every dime you spend.
7. Understand the nature of sacrifice. The money you used to buy those shoes you WANT today could have paid for a plane ticket home forThanksgiving Break in November.