Possible Debt or School Loan?

Not only are gas prices rising but school tuition is rising also.

Lately, I have been faced with the question that many working college kids seem to ask. How should I pay for school? In our society where gas prices are changing every week, how does a college kid budget accordingly. Knowing that a new semester of college has rolled around, I started receiving endless amounts of my account balance, what option should I choose? I have to make it fast. Should I take out a loan for school and pay it back once I graduate.Or should I pay the bill off and live pay check to pay check keeping myself wide open to possible debt?If you were me, what would you do?

Credit 101: Journey to financial literacy Day 4

Good evening class,
Welcome to the fourth day on our journey to financial literacy. Though it has taking us longer than expected to arrive at our destination, do not be alarmed. Emanicipating yourself from the American financial value system is a life long journey. We all have tickets for this flight, but I often find myself flying this plane and building it too. So...Does anyone want to change flights? LOL! Well it's too late

Last class we discussed our Credit Report Restoration plan and the importance of step one and changing your thinking. Today well discuss what to change your mind set into.

Don't forget to CALL ME!!!!

Hey GABbers!

I thought I would remind you via your wonderous blog that we are having our September phone conversation tomorrow Thursday September 4th at 7PM.

Check your email for the call-in information!

Savings

Hey everyone,

I always have kept a good amount of my money in the basic saving and checking accounts. But a large portion of my money I like to put else where to see if I can get a high return rate. For a few years I would take one of my paychecks and put it into different stocks. I made alot of money on a few different stocks, but I also lost alot of money in other ones. In the end I pretty much just broke even. All now of days noones stocks are doing good so I think I may stay away from them. I also decide to put some of my money into CDs, basically bank accounts with high interest but your not allowed to touch the money for a certain amount of time. Which worked out really well, the only problem is deciding how long to buy a CD for. One year doesn't seem like alot but when you want to buy something big, you miss having that money around. Lately I tried bonds, I bought I bonds which change with the US economy and EE bonds which double in value over several years. In the end EE bonds took to long to mature and I bonds where to unpredictable. So right now I have all my money in a savings account. What do you guys think is the best decision for me to get the most bang for my buck. But after college ( about two and a half years from now) I plan to buy my first house, so the money should be available then. Any ideas.

Shop on your own personal budget!

Hey GABbers,

How is everybody doing?

When I was younger, my mom had a monthly spending allowance for me in her budget. I really used to love when she gave me that certain amount of money per month to spend on what I needed. It taught me about budgeting my money. Whether I was spending it on clothing or personal items, or just saving it. The good thing about learning how to spend only as much as she gave me was that it taught me how to be cheap! Ha! Ha! No, I'm just joking; it was more than a little money. But really it made me be wise on how I purchased items, staying within my reach.

I seemed to get more because I would look for good deals. Though I did try to save, sometimes I ended up spending more with the money on my hands. Having an allowance at such a young age gave me a sense of control and responsibility. Here and there though I liked to go to the dollar store and spend it on silly things that might have fascinated me or candy. But, all in all, it forced me to make better judgements on spending.

So, maybe if we all incorporated a good spending budget and stuck with it we'd see results that show some control. When you have control over your spending habits you will not go over your credit card limits or wonder why your statement was so high. I think when you have a good amount of money coming in per month, setting limits for yourself will help you to be a smart shopper and keep within your price range. You will be able to tell yourself, "No," even if it's something you would really like to have. Let's get in the habit of listening to that voice within. It will tell you when you're making a not-so-wise choice. Becoming more realistic with ourselves, knowing what money is available and what's not, we become more practical spenders.

I know it may take some time for me to accomplish better spending habits. We should be patient with ourselves in developing good budgets.

That's all for now, GABbers. Shop tell you drop! Just kidding. Ha! Ha!

Opposites Do Attract

Opposites Do Attract

Hey everyone sorry I’ve been slacking on my comments lately, with 4 summer classes and a new job as an MSR I’ve been so busy I forgot all about posting to the website. But while being so busy I found a little time for hang out with friends. Yet I began to notice something with two of my friends whom just some happen to be dating. The difference in how each of them spend there money. Now both of them have part time jobs with about the same pay and same amount of hours weekly. Even though you would think there savings account would be about equal they are totally different. The women of the relationship never would buy anything for herself only for her boyfriend. And just things that he wants, but things that she thinks he may want, no matter what the price. She has no problem spending her money for entertainment like going to six flags or to the movie. Yet now she can’t due to her spending habits, her bank statement had 2 cents in her checking and 20 dollars in her savings. Now you would think the man would be exactly the same way, but it’s totally opposite. He too did not want to spend his money, not because of lack of funds just lack of wanting to spend his own money. Also he had every little knowledge of how to spend his money wisely. He had applied for over 15 credit cards and had been turned down for every single one. Also he feel paying at a discount was stupid, and would wait for a sale to be over with before he bought the product. So in the relationship we had one person who knew a lot about the concept of money, but could not hold back when she thought someone she loved wanted something. And other who had no concept of how to budget his money, but didn’t want anything unless someone else paid.
Does anyone know someone like either one of these people, or have any ideas how to get their savings account some what equal?

Hi Everyone!

Well I just recently finished my research on loan traps and quite frankly it can be a little scary for us young people out there. There are some companies that think that all college students really don't pay attention and in turn they try to take advantage of us. So because of this we have to educate as many people as we can so the big companies can not get away with trapping students in debt that is not necessary.

One of the biggest ways that college students get trapped is by taking out too much money. Lenders will offer a bigger amount than is usually needed knowing that the younger generation loves to spend and not save. So in turn the lenders believe that by giving them extra money they won't be able to make all the payments on time and allows the lender to charge late fees. 

Not all companies do this and there are a lot of trusted banks and lenders that are responsible and do not try to take advantage of students but there are still a lot out there that do. Being of the younger generation we really need to take a stand against those lenders that do and teach students from a young age how to be responsible and know what types of student loans are the best.