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About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (Oct. 20, 2000)
^TipstoKeep Spending in Check. By January Gill No matter how much (or how little) money you have, it’s never too early to start tracking your finances. If you create financial goals and stick to them now, you'll have an easier time managing money in the future. Keep these five things in mind: Set up a budget. Take a few minutes to write down monthly income (student loan refund, money from parents), and the monthly necessities and expenses that it must cover. If your cash flow is on the plus side, con sider saving that money to create an emer gency fund. If your expenses are greater than your income, or if you have a shortfall, take a second look to see how you might cut back on your everyday expenditures. Do you really need that daily $3 coffee from Starbucks, or could you use an extra $240 a semester? Pay bills on time. Now is the time to get into the habit of paying bills on time or before their due date. Creditors tend to look unfavorably on late payments, which will affect your bank credit rating. A bad or even questionable rating will make it difficult to purchase a car or rent an apartment. At the very least, a string of delinquent payments can result in late fees, penalties and higher interest rates on your credit cards. Check your credit rat ing by contacting Trans Union, Experian (formerly TRW) and Equifax for a copy of your credit report. Be careful with credit cards. If you don’t have a card, don’t bother. Not yet. If you do, spend wisely. Avoid pay ing for disposable items on your cards. Weekly purchases such as groceries, gaso line, CDs and other small ticket items should be paid for with cash, unless you pay your bill early. Who wants to pay for Fiona Apple tickets eight months after the concert? Also, if you have extra money at the end of the month, pay more than the minimum amount. Cutting down on the bal ance will help you lower the monthly inter est due. Save! Save! Save! Are you trying to save money for a semester abroad in Europe, or to buy your first car? The best way to reach your goal is to pay yourself first. Make this your mantra. Put cash aside in a savings account or money market account. No amount is too great or too small, especially when your small amount grows with compound interest. That $3 you saved from skipping your morning Starbucks coffee will add up to a hefty sum in a few years. Whether Leaving Poor—Top ten colleges that leave graduates with the most debt. School name Loyola University-Chicago Nova Southeastern University Clarkson University of San Diego Florida Institute of Technology Pepperdine Massachusetts Inst, of Technology Georgia State University University of Vermont Case Western Reserve % of grads with debt Average amount of debt 85% $24,125 65% $23,498 85% $22,670 47% $22,600 55% $22,479 60% $21,669 70% $21,617 54% $21,535 47% $21,000 63% $20,595 Source: U. S. News & World Report Athens, Greece or Athens, Georgia, Quicken.com has a basic savings calculator to help you figure out your short- and long-term goals. Stay on track! Saving for the future is tough, much tougher than creating a budget and setting financial goals. It’s up to you to make sure you stay on track. If you’re looking for online resources to help you stay focused, check out TheWhiz.com, Greenmagazine.com and the Armchair Millionaire for information on savings, spending, investing and more. Remember, if you can get through a semester of calculus and trig, your finances should be a breeze! • For more tips about saving money, go to Steamtunnels.net and search for “save.” Trans Union transunion.com Ixperian experian.com Equifax equifax.com Quicken quicken.com Quicken's savings calculator quicken.com/QuickAnswers/?calc=vcsave TheWhiz thewhiz.com Qreenmagaiine greenmagazine.com The Armchair Millionaire armchairmillionaire.com
