5 advices for students that begin independent living.
A lot of students want to live away from home and to continue their education despite the fact that their independence will cost 50% more expensive than living with their parents. At the same time eight out of ten students who live far from home are confident in their ability to manage their finances. Many students faced with hard financial issue as much of them cannot rationally control their spending. But to tell the truth this is not very big problem even for a young student if he/she knows how to do this properly. Also many important things depend on a student bank account.
1. Advantageous conditions of using credit card.
Students are one of the most active parts of population. But as well unfortunately they very often are insolvent. Students have fun, buy fashion cloth and gadgets, that’s why financial issue is so hard for them. Many students work during their studying, someone is helped by parents, but actually very often students have not got enough money now and then. And in such a case credit card really can help them to cope with this. There are a lot of different banks and list them all with description of their stipulations is impossible. Well, if you are a student you should choose a credit card with good conditions, for example, those one that has a long grace period and low interest rates for credit use.
2. Try not to use credit money.
Actually experience shows that students cannot control spending their costs. So anyway try to limit using of credit costs otherwise you could be trapped. Pay bills on time. If you delay payment of bills, you could find yourself with no money for it.
3. If you take a loan, treat it responsibly.
Nowadays it is not very difficult to get a loan even if you are a student. It is due to the fact that student is potential employee in perspective, and if he/ she uses the services of some bank, he/she most likely will use this bank in the future. In addition to basic payment on a loan the borrower should carefully examine additional conditions. Banks that work with students guarantee themselves returning of borrowed costs with not always sincere methods, for example, with the establishment of hidden commissions, high fines or requirements for insurance under certain conditions. So if you choose loaning in some bank it is necessary to consider all points of agreement, but not just one item of credit agreement.
4. Be prudent
How not to have different problems with credits? It is easy if you save your money. This is useful habit that could help you in your life even after graduating the University. Very often we spend our money without noticing for some useless thing. You can record your expenses, and in such a way you will see, how much money you could save. As well some simple activities as using public transport instead of car also will have positive impact on your bank account. And if you will try to earn money just doing something you can, you will obtain a possibility to open a deposit and have some profit as a percentage.
5. Before choosing bank accounts think about:
– Would you like to use overdraft – Do you need internet banking – Are you interested in opportunity to open an account online – Do you want to use other services of bank
As you can see, there many aspects that should be taken into consideration if you are a student who wants to have a personal bank account. If you are responsible and careful, you will not have any problems with it. You can read more about our recommendations on our writing service website.