How Often Do You Use Your College Credit Cards?
Reigning In College Credit Cards
If you’re a college student who is using college credit cards to meet many of your monthly expenses, you might want to reevaluate where you can cut corners to reduce your reliance on credit cards. It’s true that college credit cards can be very beneficial for helping a cash-strapped college student, but that doesn’t mean you need to rely on your credit cards for every purchase -- especially purchases you can do without.
The Reading Corner
College textbooks are expensive. It’s not uncommon for one book to cost nearly $100. If you’re taking four or five classes a semester, you can easily spend over $800 a year on textbooks. You should look for ways to reduce your expenses.
Buy used textbooks if available. Browse through your college bookstore for the “new-looking” used textbooks. Most of the time you will find a few copies that look like they haven’t even been read.
When you buy used textbooks, at least the amount you charge to your credit card will be less than if you bought new textbooks. That means you will be paying less interest too. You might also consider sharing textbooks with another student in class.
If you and a friend have two classes together, split the cost of the textbooks and share the book. That means you will have to schedule time to read each book but you will only be paying half as much for the same books. At the end of the semester, sell the books and split the money you get back.
Spring Break
Look for ways to reduce your expenses on spring break. If your roommate’s uncle is offering you his beach house in Maine, who cares if it isn’t the hot spot where everyone is going? Enjoy a quiet retreat instead if it means you can save hundreds of dollars. You might still have to charge some of your spring break expenses to your credit card but at least you won’t have to pay for a hotel room.
Meal Plans
If you live on campus and dine in the campus dining hall, reevaluate your meal plan. If you skip breakfast or are paying for meals you don’t use, get a more limited meal plan. Don’t spend money on meals you aren’t eating. If you spend less on your meal plan, then you can free up money so you don’t use your credit cards so often.