Using a Credit Card to Purchase School Supplies?
How a Credit Card Can Help If Used Properly
If you’re a college student you might be tempted to use a credit card to pay for school supplies. With all the money you just spent on tuition for the semester, it might be your only option. Using a credit card to pay for school supplies can be a good option providing you devise a budget to pay off the items you purchase within 2 or 3 months.
Budget Yourself
Take a look at your expenses for the semester and also calculate your projected earnings through your work-study program or your part-time job. Determine how much money you will need to pay per week in order to pay the balance off in 3 months. If you needed to purchase $400 of school supplies using a credit card in late August, by late November (just before you head home for Thanksgiving break) you should aim to have the supplies paid off. Otherwise, you will head into your next semester carrying over a balance for supplies you already used!
Assuming you charged $400 in supplies to your credit card, you would need to pay about $133 a month in order to pay off the balance by your November deadline. That comes to just $33.25 per week.
In order to earn the needed money to pay off the balance, you might find yourself needing to take additional hours at your on-campus job or perhaps check the message boards posted on campus for help-wanted ads. You might find a busy mom who lives nearby and needs a babysitter. Babysitting can be a great way to earn extra money for college expenses. After the kids go to bed, you can pull out your syllabus for your Humanities 101 class and get started on the semester’s reading assignments.
There are definitely many options available for you to earn extra money to pay for your previously-purchased school supplies. Simply devise a budget and stick to it.
Comments
Every time before using the credit card, we should analyze the budget and the expenses. However, school expenses must be a priority in our life because we are building our future and it worth.
Posted by: Joshua | August 27, 2006 6:55 AM