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Written by the CollegeCodex.com Staff
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Nowadays, dollars can be spent using a variety of different
formats. Whether purchasing roundtrip airline tickets or
reimbursing a friend for your portion of a pizza, you’ll be spending
cash and racking up an impressive credit score.
Cash
It never hurts to keep a few dollars in your wallet. You’ll notice
your first week on campus, vending machines rarely take credit cards
and frat parties never take checks. Single bills should be your
collegiate best friend; next time you’re out to dinner with a group,
you won’t have to worry about splitting the check when everyone only
has large bills.
Checking Accounts
Set one up and begin to manage your finances. Many of us are blessed
with online checking, which shows our account balance and purchase
history; no checkbook balancing required. If you ever find yourself
low on cash, deposit a check.
Debit Cards
They provide the convenience of a credit card with the low fees of a
checking account. Debit cards are the ideal alternative to writing
yourself a check for withdrawing money. Many banks offer a debit card
option with your checking account.
Credit Cards
If you’re worried about your responsibility with handling credit cards,
pass on the application form. We’ve seen too many college students
rack up tens of thousands of dollars in debt, not including their
student loans.
If you don’t already have a credit card, but want one, wait until you
arrive on campus. Credit card companies send out wave after wave of
student representatives, armed with card applications and free
T-shirts. Be on the lookout for these representatives, because student
credit cards usually have the best rates with no annual fee. Avoid
signing up for multiple cards to get free T-shirts or free pizzas;
every time you fill out an application and don’t activate your card,
your credit score drops. |
