Having bad credit or no credit at all can keep you from purchasing a house, paying for your education, or even obtaining your dream job. Due to this, building up your good credit is essential. However, this can be a little tricky as a student. In order to have good credit, you must use your credit responsibly. Here are five ways to build credit as a university student.
Only Borrow As Much as You Can Afford to Pay Back
When you start only borrowing money that you can afford to pay back, it allows future creditors and lenders to see that you are a responsible borrower. This will make it easier for you to borrow money as well as get new lines of credit. By showing that you understand the importance of borrowing what you can afford to repay, you can not only build up your good credit, but also avoid falling into a debt trap. The same thing applies to loans. By only taking out loans that you can afford to pay back, even if the lender says you qualify for more, you will ensure a positive credit history.
Utilize Only Minimal Amounts of the Credit Available to You
Using all of your available credit, or even coming close to that is extremely irresponsible, especially as a student who has limited access to funds. This is especially the case if you do not think you can repay the entire balance by the end of the month. Those people that tend to max out their credit cards are usually the ones who have trouble repaying the loans that they borrow, and so lenders can be more wary when it comes to giving out loans. It is recommended that you stay below fifty percent of your credit limit, and even attempt to stay below 30% in order to build a good credit score.
Use Only One Credit Card
Many people who first start using credit cards begin to accumulate a huge collection of them within the first few years of their credit use. You should not make this mistake, as opening up too many credit cards all at once is not a good way to build up good credit. Keep in mind that the more credit you possess, the more credit you’ll end up using which will make it harder to maintain your credit card payments. On top of this, having too many inquiries on your record will negatively impact your credit score.
Pay Off Your Credit Card in Full
If you only use your credit card enough that you will be able to repay it in full at the end of the month then you wont have to worry about accumulating debt. On top of this, being able to repay your balance every month shows creditors that you can pay your bills on time, which is something that is very beneficial to your credit score. Keep in mind that a substantial part of your credit score is you being able to make payments on time, and so paying your balance in full will improve your credit score.
Age Your Accounts
The longer that you have a line of credit, the more beneficial it is for your credit score. By leaving your accounts open and letting them age, it will allow you to increase your credit age and thus build good credit. Avoid closing old credit accounts because of this, and keep in mind that if you do decide to close an account, it will not disappear from your credit report right away. In fact, it will take a few years in order for credit bureaus to drop your closed accounts.
Where many people see an empty guest room, you are thinking about turning your empty space into a way of making extra cash by renting it out to a guest. In fact, the average going rate for renting a room is as high as $65 per night depending on the location of your house. Whether you are considering renting out a spare bedroom for a few nights to a vacationer or something more long term, you should know the ins and outs of renting out a room.
Use a Website
There are plenty of websites out there that will help you rent out a room in your house for a small period of time in order to make some serious cash. For example, Airbnb.com and iStopOver.com can aid in getting a room rented out in no time. Simply post a picture of your location and room with some pertinent information and you can be well on your way to making money. This has become increasingly popular over the past few years. In fact Airbnb.com has over 70,000 listings in the US alone. This is probably due to the fact that these types of sites help tremendously in finding renters trustworthy tenants.
Clear Out the Clutter
Before you can properly advertise your guest room and find a tenant you need to make it ready to live in. This means clearing out the clutter and making the room presentable. Make sure to take out any personal touches such as family photos, as tenants do not want to feel like they are intruding.
Paint The Room
People don’t want to feel like they’re sleeping in a prison or boarding room so make sure to spruce up the room before attempting to rent it out. This includes repainting it with a bright and cheerful color as it not only makes the room feel cozier, but also makes it feel bigger. If you’re going to spend money on anything to redo the room your renting out then paint is the first thing you should invest in.
Keep In Mind That Big Beds Rent Better
If you have anything smaller than a queen bed in your guest room then you may want to consider upgrading to a bigger bed. This is because a bigger bed opens up the doors to your room getting rented out by a much larger pool of potential guests. It is also recommended that you purchase brand new sheets in order to give the room a fresher and cleaner feeling.
Get Professional Photos Taken
If you use a website in order to rent out your room they may send out a photographer to take photos of your room for free. Otherwise, you may want to consider hiring one in order to get great photos of your room from all angles.
Use Common Search Terms When Listing Your Room
If you reside close to a major city or a lake or park then don’t hold back from bragging about it. By putting in key search terms that are relevant to your location and the room you’re renting out, you can get your rental listing at the top of the search results. It is recommended that you avoid search words such as budget, bargain and cheap. This is due to the fact that the price is already listed and so it’ll speak for itself. On top of this, those words can often be associated with poor quality. Instead you should think more along the terms of beautiful and luxurious or peaceful and calm in order for guests to get a feel for the atmosphere they will be staying in.
Although you may plan on keeping your car running forever, that doesn’t usually work out. The good news is you can take a few steps in order to extend your car’s life, while also lowering the chance of having any inconvenient mechanical malfunctions. Here are five basic and easy ways to extend the life of your car.
Follow Your Service Schedule
This may seem intuitive, but there are many vehicle owners who pay way too little attention to their car’s maintenance schedule that is displayed in the owner’s manual. You should follow this schedule and not that of the car dealer’s, as they are the ones that built the car and so know the best schedule to follow in order to make sure you car remains in tip top shape. This is especially the case if you have a later model car, as not following the maintenance schedule can result in costly damage to your car.
Check Tire Pressure and Fluids on a Regular Basis
This task takes around ten minutes or less. All you need to do is let your engine cool down before opening up the hood of your car and pulling out the oil dipstick. With a rag, wipe it clean and then reinsert it and take it out again in order to check your oil levels. Keep in mind that oil is the most important fluid for your engine, and so it is crucial that it is well maintained. After this you should check the radiator reservoir level as well as the brake cylinder reservoir. You should also regularly check the transmission fluid level and the power steering fluid level. After all your car’s fluids have been checked, you should then check your car’s tire pressure by using a pressure gauge. This should be done at least once a month if not more.
Go Easy on the Start Up
A cold engine has little to no oil in its moving parts as it has all drained down the oil pan. This means that after starting up your car, you should keep your engine rpm to a minimum for the first few seconds while the engine gets re-lubricated. All your engine needs is thirty seconds before it is nice and oiled up and ready to be revved. If your engine has been off for more than 24 hours than you should give it a little more than thirty seconds to warm up.
Listen For Strange Noises
It is recommended that you turn off your radio every once in a while in order to listen to any strange noises that your car could make. For example, a clicking sound could be that you drove over a nail and it is stuck in your tire. On the other hand, if you hear a screeching sound whenever you break then it is probably time to get new brakes. If you don’t know exactly where the noise is coming from in your car, you should immediately take it to a mechanic to find the source of the problem.
Drive in a Calm Manner
It’s important to go easy on your car when you are driving. This means not pressing too hard on your brakes and not driving too hard. On occasion putting your car in full-throttle acceleration or panic stopping is not going to do any harm to your car, however if it is a common occurrence then it can erode your car’s tires and brakes and significantly lower your car’s time on the road. The same thing goes for shifting gears. You should make sure that your car is fully stopped before going backwards or switching back into forwards.
As the summer months start rolling in, theme parks are notorious for raising their prices. That doesn’t stop people from wanting to have a great day at their favorite theme park however, and it shouldn’t put a stop to your plans. The good news is there are several ways to save money on the cost of your visit to a theme park. Here are six tips that should keep some money in your pocket while still allowing you and your family to have a great time.
Buy Your Tickets Online
It is typically much cheaper to buy your tickets from an online vendor than directly at the gate. On top of this, printing your tickets at home allows you to save time waiting in line to buy your tickets. You should also keep in mind that one-day tickets can sell at a pretty premium, whereas buying a multi-day ticket deal can save you money each day. You should also look into purchasing a season pass if you frequent a certain theme park, as these often pay for themselves in two to three visits.
Sign Up For Newsletters
Signing up for theme park newsletters can often mean receiving exclusive deals on theme park events. You should also look into special savings on such websites as Groupon.com and park websites such as Disneyland.com for special offers.
Look For Special Offers on Products
Some major theme parks such as Disney and Six Flags partner with different companies in order to offer you special deals on their tickets for purchasing a certain product. For example, you can find Six Flags coupons on Coca-Cola products. You can also find coupons for Hershey Park at participating Burger King, Subway and CVS locations in the four states around the park’s location in Pennsylvania.
Save Money on Food and Drink
Food and drink at theme parks are notoriously expensive. You can save some money on this however by opting out of the $10 hot dog and having a tailgate picnic in the parking lot instead. At some theme parks you are also allowed to bring in a small cooler, which you could rent a locker for and put a homemade lunch in. This will save you a significant amount, even with the price of the locker. Additionally, if you decide to purchase a drink, consider sharing a supersized version, which will always give you more bang for your buck than a small cup and often come with free refills.
Consider Parking Costs
If you are flying in to California or Orlando for a multi-day trip to Universal or Disney then you need to take the cost of renting a car as well as parking and gas into consideration when looking at the price of hotels. Even if you find a cheaper room rate at a farther distance away from the park, keep in mind that you may actually save money and time by staying at a hotel that is run by the park, as they usually offer free shuttle service to and from the theme park. On top of this, many park-run hotels offer incentives such as free meals and discounts.
Make a Budget
Before you head off for your adventure at a theme park, it is a savvy move to create a budget for the extra expenses that you’ll likely accumulate. For example, give each of your kids $10-30 in order to spend as they please in the park, but set that limit and do not budge if they ask for more. If you are on a strict budget then you could also declare off limits to any sort of extras. This means steering clear of souvenir shops and activities that cost extra such as carnival games.
As a college student, finding a summer job in this economy is quite tricky. In fact, it’s hard for everyone to find a job right now. However, teenagers and young adults are hit the hardest. Many university students need and want a summer job in order to finance their tuition. If finding a summer job is on your to do list this summer, think about these things in order to land a summer job.
Start as Soon as Possible
You should not be looking for a summer job a few weeks before class lets out. Instead try applying for summer jobs one to two months in advance of your classes ending. There are many places you can look to in order to find a summer job. This includes contacting your past employers. As long as you have been a good employee in the past, getting in touch with your past employers can be very beneficial in finding a summer job. Even if the job that you had is no longer available, many employers will be willing to find a job for you if you proved to be a good worker.
Get Help From Your College
A great place to look in order to obtain a summer job is at your university. Most universities have great job boards that have an extensive list of job postings up for grabs. On top of this, many universities have job openings at the school itself once the summer begins and often offer free room and board to those who have a position over the summer.
Determine What Kind of Job You Want
As a college student you have several options that you should consider. For start, are you interested in an unpaid or paid job opportunity? Although making money is most likely very important to you, finding an unpaid internship can be extremely beneficial to your future. This is because it can be difficult to find a paid job in your area of interest, and idealistically you want to find a job that will give you experience in the area that you are interested in. You may also want to consider creating a job for yourself. Many college students are able to make a substantial amount of money soliciting their skills as a lawn mower, pet sitter or babysitter. By being an enterprising student not only can you make a substantial amount of money, but you could also gain very valuable experience.
Dress the Part
If you land a job interview then it is crucial that you look the part. The formality of your apparel should depend on the type of job interview you have. If you are interviewing for a waitress position or to work at a clothing store then casual but nice apparel is appropriate. However, if you’ve landed a job interview with a professional company then business casual or business professional is more appropriate. If you do not have the appropriate attire then don’t be afraid to ask family and friends for help, as people will most likely be more then willing to lend you the proper clothes for an interview.
Do Your Research and Prepare
Before interviewing for a summer job make sure to do your research about the mode of employment you are interviewing for. Knowing its history and policies before hand can be a great way to get ahead of the game and show the interviewer that you came into your interview prepared. Practicing interview questions is also a great way to land the job by ensuring you know what to say for the typical interview questions.
Maintaining your car can be an extremely expensive obligation in both the short run and the long run. This is especially true if you let your car turn into a money pit that drains your wallet. The good news is that there are ways to save money on your car expenses and make sure that your car is not burning a hole in your wallet. Here are five ways to prevent your car from becoming a money pit.
Save Money From the Start
It is quite easy to save a substantial amount of money over your car’s lifespan just by searching for a lower financing rate and purchase price in the first place. Another great way to save thousands of dollars during your car’s lifetime is to effectively evaluate the specifics of your car. This includes its estimated cost of repairs over its lifetime as well as its fuel efficiency. In the long run choosing a car whose parts are cheaper to replace and who has decent fuel consumption can save you a huge amount of money in the long run.
Comparison Shop For Your Car
When it comes time to buy a new car, it is crucial that you buckle down and do some extensive comparison-shopping. In order to do this, visit and call a minimum of five car dealerships in order to obtain price quotes. It is also a savvy move to let them know you are also calling their competitors in order to ensure you get the best quotes possible. To avoid having your money drained from an expensive car insurance policy, it is also important to do the same when it comes to applying for insurance. You can save a significant amount of money on your car expenses simply by find the best possible price on your car insurance as well as the most extensive policy.
Avoid Parking and Speeding Tickets
Everyone wants to get home from work as quickly as possible, however this may come at the cost of getting very expensive speeding tickets due to going over the speed limit. Make sure that you slow down and follow all traffic rules in order to avoid having to pay traffic tickets. It is also critical that you pay attention to parking signs and always pay the meter before it runs out of time. Although this may seem obvious, many people waste money simply by being negligent.
Go Easy on the Pedal
In order to save money on your car and avoid spending a huge amount of money on gas then it is a good idea to go easy on your accelerator. Keep in mind that each time you press down on your accelerator, your gas consumption is increased by a substantial amount. Another means to save money on your fuel is to ensure that you pump your gas yourself and that you always use the lowest octane that your car can handle. By combining a well-tuned engine with cheap fuel and decent tire pressure, you can save a couple hundreds dollars every year simply on fuel expenditures.
Get Good Prices on Your Car Accessories
In order to avoid spending a drastic amount of money on car expenses then it is a good idea to ensure that all of the accessories you need to purchase in order to make your car run smoothly are purchased at the lowest possible price. To do this, try buying in bulk and looking for deals on car products. This includes engine oil, batteries, spark plugs, mats, air fresheners and winter tires. Buying these things when they come on sale or in bulk can save you a good amount of money.
What are your options when your unemployment benefits are almost done and you are still unemployed? The good news is that there are things you can do to make sure you stay on your feet during hard financial times.
Check Your State Unemployment Office
The first step to take is to contact your State Unemployment Office in order to ensure that you are getting all of the benefits that you may qualify for. If you are running out of your unemployment benefits, look into other resources that could be available to you and take advantage of anything that the office offers you in order to get a new job.
Don’t Be Afraid to Ask for Help
Your circumstances could allow you to receive food stamps or another type of government assistance. Don’t be too proud to accept this, as it can aid tremendously when you are running out of options. Check in with the Social Services department of your state in order to see what other types of assistance you can qualify for. Additionally, there are plenty of community organizations that help those that are unemployed with donations, babysitting, food baskets, etc.
Get an Unemployment Loan
If you are in dire need of money then there are some loans that are designed for people who do not have a steady paycheck. Although borrowing money when you are unemployed is a valid option it is important to keep in mind that you will eventually have to repay the loan.
Look Into Your Local Career Center
These centers usually have good information on resources that are available to you when you are unemployed. This includes any community organization that will help you with food costs, utility bills, etc. They may also provide information on how to attain a temporary position as well as permanent job listings.
Try Your Hand at Temping
It’s worth a shot to call a temp agency in your local area to schedule an appointment. If you are able to get temp work it is a great way to not only make money but also to build your résumé. On top of this, some temp positions can potentially lead to a permanent job.
Give United Way a Call
Contact your local United Way in order to see if they know any organizations that can help you find a job, downsize to a smaller home, improve your job skills or with personal budgeting.
Dial 211
You can dial 211 in many areas in order to get referred to a multitude of agencies including social services, charities and non-profit counseling. Keep in mind that it is better to get some sort of job than no work at all.
Sell Your Things
Anything that you don’t absolutely need can be sold at a yard sale or on Craigslist or EBay. You can also check out your local pawnshops to see if you can get some cash for smaller valuables.
Ask to Get an Informational Interview
One secret technique to land a job that not many people know about is to ask for an informational interview with a place you are interested in working for. By saying that you are not asking them for a job, you can take the pressure off. Say that you are interested in learning about the company, job function, industry, etc. This is a good way to get information, and on top of this if there is a job opening that you are a match for, then you can potentially land yourself with a new employment opportunity. Additionally, if there is not a job opening then you could be redirected to a contact that does have an opening.
If you are late to pay the rent, are unable to fill your tank with gas in order to get to work, or simply need some cash quickly then there a few money hacks you can try out to get your hands on the cash you need quickly and efficiently. Here are five quick tips to raise money without too much of a hassle.
Sell Your Plasma
In the United States you can legally trade plasma, which is the fluid found in blood corpuscles. If you live in a large city, there should be clinics in your vicinity that will pay up to $35 or more for your plasma. You are allowed to donate up to two times a week, and so if you are willing to go through some slight pain this could be well worth your while. Donating plasma involves getting your blood drawn, which is then drained of the plasma and then returned to your body. This takes between 30 minutes to an hour to do. In order to be eligible to donate you must not use drugs and be healthy.
Participate in Medical Tests
Many large colleges have medical research projects that require a few human guinea pigs in order to test new treatments and medicines. Because the pool of people who are willing to undergo such tests are usually pretty limited, you can often get a hefty reward for doing so. In fact, some more invasive tests may give their volunteers as high as a four-figure check. A good place to start looking for medical tests you can participate in is the National Institute of Health, which currently has over 300 studies that they require volunteers for.
Withdraw Money From Your Life Insurance
Before you choose this option, keep in mind why you obtained your life insurance policy in the first place. You most likely obtained it as a way of protecting your loved ones. However, if you are desperate for money then withdrawing it from your life insurance policy is a viable option. If your life insurance is a universal or whole policy than it has a cash value that you are able to obtain simply by calling your life insurance agency and inquiring about the process.
Return Unneeded Past Purchases
If you are desperate for some cash than you may want to consider returning some of your recently purchased merchandise in order to get cash back. This is one of the easiest and quickest ways to get quick cash, and can be useful if you are in a bind. Most stores give you back the full amount for your item if you have the receipt on hand. However, keep in mind that if you used a credit card to purchase an item, you will only be able to receive credit for that item. Also be aware that if you are strapped for cash, you shouldn’t be using your credit card for items in the first place.
Collect All Your Loose Change
Although what you have in your living quarters varies, most people have the basics, which they should look at for loose change. A good place to start off with is your bed stand or anywhere that you tend to set things aside like a home office. Looking through your sofa never hurts either, as coins can easily drop under the cushions. Laundry rooms are also a great place to look for any extra money, as money forgotten in a pocket can get placed there or can get waded up at the bottom of the washing machine.
No matter if, you are just out of high school, attending college, or out on your own, planning for your future as well as your daily expenses is of the utmost importance. These top 5 tips should get you on the road to success.
Invest in Yourself
Many young adults toss the idea of attending college to the side and want to “get on with their lives”. Of course, college is not right for every person on the planet; however, an education is the best investment. Whether you attend a trade school, or go to a college, even take a few classes to get you headed in the right direction can benefit you greatly. The main idea behind getting a higher education is that you will choose a field that you will enjoy as a career. If you invest your time, money, and your parent’s money on fulfilling their dream career for you, it will be a waste.
Save for your Senior Years
The hardest thing for young adults to do is save for their retirement years as most live in the here and now. Being a young adult means you are just beginning your life and want to enjoy spending your paychecks and purchasing items you have dreamed of owning such as a special car. The idea of saving for retirement to you is light years away; however, whether you invest in a 401k plan at work, an IRA, or set up a special savings amount, is always a good plan. The idea is to put money away so you will not wake up one day in your 50’s and wonder why you never started saving money so you could enjoy an early retirement.
Live Within Your Means
You are out on your own and you want to live a certain lifestyle. The problem is that your paycheck may not allow you to live as you did while living home with your parents. The money you earned while a teenager was often used to purchase new clothes, going out on dates, or other things you enjoyed as entertainment. Now, you have bills to pay! Figure out a budget by subtracting the money you must have to pay all your bills monthly including auto insurance, food, gas for your car, and so on. What is left over after you put money back for emergencies and your senior years is what you have left for the entire month. Look for ways to reduce your bills such as cutting out cable TV or reduce the amount of channels you subscribe to, especially if you never have time to enjoy watching TV.
Easy on the Plastic
As a young adult, you will be receiving all kinds of offers from credit card companies. Do not get as many credit cards as your wallet or purse will hold. The temptation to use these will not just save you when you in emergencies but will often make you lose sight of your budget. You may only charge what you can afford on one credit card but remember the interest rate that must be paid on the money you borrowed. The interest rate alone can actually cause you to go without a few meals. Only obtain one credit card and only charge a small amount that you know for sure you can repay on time. Pay the entire amount you owe monthly and this will help your credit rating and your budget.
Have an Emergency Fund
You may find yourself in trouble if you do not put aside any funds for emergencies. Once again, it may be no fun to work all week and then put money aside for your senior years and for emergencies, however, when the money is needed you will be happy that you did. You never know when your car will need a new tire or the unexpected happens such as being ill and missing a couple days of work. If you have some money put back for emergencies, then you will be able to breathe a little easier and be assured you will have what you need when you need it.
If you’re planning on a simple Valentine’s Day with an easy box of assorted chocolates or nice flower bouquet then think again. On average, U.S. citizens spend over $130 on items related to Valentine’s Day. This averages to over $18 billion dollars total. In order to shower your loved one with the gifts he or she deserves while also saving money this year, here are five tips to have a great Valentines Day without breaking the bank.
Getting a Great Deal on Flowers
In order to save money on Valentine’s Day roses for your loved one, it is recommended that you stick with warehouse stores and local florists. This is due to the fact that these locations usually offer the best deals, as on average you can get your hands on a bouquet for $50, whereas an online store will cost your closer to $60. Heading to a local store will also allow you to negotiate for a lower price. On top of this, if there is any sort of problem with the flowers, such as if they arrive late or are damaged, it’s much easier to go to the location in order to fix the problem and receive a refund rather than dealing with a customer representative.
Save Money on Restaurants
In order to save money on a meal for two, it’s a good idea to take advantage of Restaurant Week. This is occurring in cities throughout the United States, and gives you a low price on three-course meals. In order to take advantage of Restaurant Week look up a list of the restaurants in your area to see if they are participating, as well as when your cities’ Restaurant Week is occurring. Many are scheduled around Valentine’s Day so you may get a great deal on a romantic dinner this way.
Obtain Gift Cards for a Discount
If you want to give your friends or loved ones a gift card for Valentine’s Day then you can find great deals on such sites as PlasticJungle.com and CardPool.com. These websites allow you to purchase gift cards to major restaurants, theaters and restaurants at as high as a 20% discount. If you want to give your significant other a more substantial gift then you could use one of these cards to save money on an expensive gift, such as a necklace or bracelet at Williams-Sonoma or Tiffany & Co.
Get Free Shipping
Valentine’s Day is fast approaching and so if you want to purchase a gift online and have it delivered on time, it’s important to get started on those purchases. The downside of online shopping is that the price of shipping can add up to substantial amounts. However, in order to get free shipping this Valentine’s Day, signing up with a site like ShopRunner, which allows you to obtain free shipping from a number of stores including Calvin Klein and Blue Nile, can save you a good deal of money on your Valentine’s Day gifts this year.
Use Credit Card Reward Programs to Save
Many credit card companies offer their customers rewards programs, and so you could use this to your advantage. For example, some credit card companies offer cash back on purchases made at theaters and restaurants. Obtaining one of these could not only save you money on Valentine’s Day, but other outings that you go on throughout the year. Otherwise, simply calling your own credit company in order to inquire about any special rewards or promotions that they have may work in your favor on Valentine’s Day to keep some money in your pocket.
