One of Tightwad’s favourite classes in high school was Consumer Education. It’s probably one of the most important courses students can take to help them avoid common consumer pitfalls such as getting an introductory credit card before they are ready, knowing what interest is - and how it accrues.
Say no! Credit card companies inundate college students with special offers. They want to hook you in - but getting hooked on credit cards is dangerous. The more you use them, the easier they are to use, and since you’re not required to pay off the balance each month, you can quickly spiral into debt.
Be prepared to take action Many people don’t know what they’re paying their service providers each month. When your cable, internet or cell phone company tells you there is a rate increase, call the company and ask to speak to someone in the retention department. Ask for detailed rationale for the increase; often, this will stop the increase. If not stress how long you’ve been with the company and your excellent payment history.
Learn about personal finance Some free resources include the Internet and the library. Remember: knowledge is power - the power to make decisions on your own terms.