Tips to help college students stay away from debt

Sunday, October 16, 2011

Credit card companies are persistently going after the college market. They not only use mailing lists, displays around campuses, but also use gimmicks to entice students to sign up for a low average percentage rate, no annual fee, free T-shirts or water bottles.

As attractive as it may sound, there are many potential dangers that students are not aware of.

Students are quick to sign up not knowing that there is a "finance charge." This charge is for the convenience of borrowing,transaction fees and often other charges as well. For example, some card issuers charge a fee when you use the card to obtain a cash advance, when you fail to make a payment on time, or when you go over your credit limit.

Some charge a flat monthly fee whether you use the card or not. Once you've signed up, that low introductory interest rate may increase to a much higher rate, even as high as 20%.

Students who are only able to make the minimum payment each month, covering only interest charges, may never be able to get out of debt. Some students feel building a credit history is an important reason for obtaining general charge cards, as well as cards for gasoline and department stores, while others just like the fact that they can buy now and pay later.

Whatever the reason may be, students should familiarize themselves with the positives and negatives of having a credit card before obtaining one. Otherwise, students can find themselves absorbed in debt halfway through college.

If overcharging is becoming more and more like an addiction, cut up your credit cards, then call the credit card companies and tell them to close your accounts. If you choose to keep one card, use it for emergencies only.

• Don't accumulate debt you can't afford to pay by the end of the month. You'll be paying double-digit interest on the unpaid balance, something smart (and prosperous) graduates avoid. 

• Make a conservative monthly budget and stick to it. If you are tempted to purchase something that wasn't budgeted, decide what budgeted items will be cut to pay for it, or start saving to buy it later. Don't buy unbudgeted items with a credit card.

 

• If you do get into serious debt, don't panic. Chop up those credit cards, consult with your parents on a plan to work your way clear and chalk up the experience to "financial education."

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Best Places To retire in the US of A

Monday, August 21, 2006

The United States cover a large area of very different terrain, climatic conditions, lifestyles, culture and environment. If you have lived here for several years, you may be mistaken in thinking that you already knew enough about this country to make this kind of decision without too much trouble. But you couldn’t be more wrong.

The decision that you are about to make is one that will impact the rest of your life. You may of course have very clear-cut ideas about what you really want in the retirement destination of your choice.

For example, if you are fond of reading and literary pursuits, you may feel that it would be ideal to settle in a University town such as Ann Arbor. But isn’t there a possibility that it may not suit you in some other way?

Look at the example of Portland. It does really seem like a rather attractive place to settle, but property prices are on the high side here. So you may come to the conclusion that it’s not such a good idea after all.

You may fancy the charm of some of the locations in South Carolina such as Sumter or Seneca, where you will find quite a well developed community life, along with affordable housing?

Do remember that it is well worth taking your time in trying to decide where you should ultimately retire. Don’t forget that this is the decision of a lifetime, probably one of the most important that you will ever have to make. So don’t rush it – if you think you may be close to making your choice, it may be a good idea to visit the place for a short spell and talk to local people. They will be able to give you an idea of what it’s like living in the place from day to day.

And this is not to suggest at any time that you will not find the kind of place that you are looking for or come up against snags at every turn. It’s just that you have to be so much more careful, because once your decision is made and your bags are packed, in all probability there will be no turning back. It would really be terrible to find that after all the care you have taken to arrive at a decision, you’ve made a mistake and there’s nothing you can do about it.

On the face of it, every place you’ve read about has a charm of its own. So by that logic, any one of them should be right for you because you feel they sound like good places to retire in. But occasionally, you may find one element or another in a particular location that could make things difficult for you. Remember that the final decision is one that only you can make, especially if you are single. If you are making the decision as a couple, there may be factors at play that will suit one of you and not the other, although you both agree that the location, cost of living etc. will suit your pocket.

If you have very major issues about a particular place, regardless of the fact that it is agreeable in itself, it would be better to think again. Remember that you have a host of wonderful locations to choose from. So once again, take it slow and give it plenty of thought. Put your heads together as a couple and you are very likely to make the right decision. Then you can really relax and go for it!

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Settling in Savannah

Wednesday, June 21, 2006

When you are getting older and retirement is all but knocking at your door, you need to make an informed choice about where you’d like to settle down. Why not consider Savannah in the state of Georgia?

The history of Savannah goes back quite a long way to 1733 when it was founded by James Oglethorpe. The historic quarter of Old Savannah consists of a patchwork of houses interspersed by parks. 22 of the 24 that stood originally are still in evidence today, clothed in wisteria and ivy. Live oaks provide plenty of shade, with Spanish moss completing this charming picture.

Savannah has a population of over 131,000, with 8% of its residents being over the age of 65 years. The average price of a 3-bedroom house for a single family here is around
$ 204,546. There’s an elegance and old world charm to this place, where mansions that were in a state of ruin a few decades ago are now fetching millions of dollars. Apart from these, smaller properties have also attracted several buyers.

Retired people are increasingly being drawn to the more recently developed suburbs near the golf courses or along the seaside. Homes in neighborhoods with gates are generally within easy distance of the Atlantic Ocean and the Savannah River, apart from picturesque trails for walking, tennis courts and golf courses.

Property prices in these areas vary between $ 200,000 and $ 2 million. Residents who live near the water have a view of the wetlands that attract a number of birds. The catch here is that along with the birds, you are likely to find alligators in the wetlands as well. But take it easy, there’s no need to get upset.

The fact is that the alligators tend to stay in their own lagoons until they are fairly large. When the time comes they are taken away by the town authorities. So there’s nothing for you to worry about! Just a rather unique feature to this increasingly unique town. The crocodiles are in good hands and so are you!

Most residents of Savannah tend to stay there around the year, so you will find it easy to make friends. Apart from that, most of the natural environment has been preserved. This is in stark contrast to Florida where developers tended to clear it away.

If you’re looking for nightlife, culture and sophistication, you’ll find it in Savannah. You can also offer your services as a volunteer for a number of activities. You could get involved in raising funds for the new annexe to the Telfair Art Museum. Another area where you would be welcome is in repairing homes for old people through United Way.

You’ll even find a magazine called Coastal Senior, which covers news about events taking place along the coasts of South Carolina and Georgia.

Medical care is provided by the Memorial Health Hospital network, which is held in high regard, particularly for rehabilitative and cardiac care.

Although both the city and the state are financially secure, Savannah is one place where you may feel the pinch as far as taxes are concerned. You’ll find income tax and sales tax being charged at 6% each, while property tax is levied at 1.7% of the assessed value of your property. This again is taken as 40% of fair market value. You could say it’s quite a price to pay, but if you love Savannah enough, perhaps you wouldn’t mind it too much.

If you acquire property in Savannah and are prepared to spend a fair amount on land and construction, you stand a good chance of ending up with a fine house and an excellent view of the wetlands, while the value of your property could be over a million dollars. Pretty good, wouldn’t you say?

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Portsmouth – An Urban Paradise

Sunday, May 21, 2006

When you’re looking for a good place to retire in the United States, there are a number of good locations you could choose from. One of the towns you might consider is Portsmouth in New Hampshire. Portsmouth is 50 miles away from Boston and has a population of less than 21,000. Average temperatures in Portsmouth vary between 78° and 25°F in summer and winter respectively.

It may help to know that more than a fifth of the population of this town is over the age of 65. So this is one place where, as a pensioner, you would not feel like a fish out of water. This is also a place you will love if you enjoy cold weather and have a passion for history. If that seems like an odd combination, here’s the story.

The development of Portsmouth can be traced back 400 years when the King of England granted land to the Governor of Newfoundland. This makes it the oldest town in New Hampshire. The same land on the banks of the Piscataqua River is now the location of the Strawberry Banke historical museum.

While we’re on the subject of history, when you think of putting down your new plants with the onset of spring, there is every possibility that your digging will turn up some of the stuff left by the people who lived in your house before you moved in!

It sure will come as a pleasant surprise that living in Portsmouth you will not need to pay either income tax or sales tax. You’ll also find that property taxes are affordable, amounting to 1.9% of the assessed value of your property – which brings us once again to the question of where you can expect to live.

And speaking of houses, if you’ve been attracted by the historical flavor of Portsmouth, you should know that you might not be able to find an older home in very good condition in the center of the city.

All the same, you do have a number of interesting and innovative options. You’ll find old farmhouses standing on half-acre plots of land in Stratham, Durham and Dover; then there are the warehouses on the waterfront that have been adapted into condo lofts. These come for an average price of $ 450,000. You also have the choice of opting for new properties. A three-bedroom house for a single family would cost you around $ 309,000.

Since Portsmouth is still an active port, it remains a meeting place for boisterous sailors. Portsmouth has also attracted about 400 software companies. You may be interested to know that hand in hand with the height of the development of the software industry, Portsmouth began to witness a vibrant nightlife. So if you are game, there’ll be plenty to keep you entertained with a number of fancy restaurants that have sprung up here, among other things.

Portsmouth will have plenty to offer you if you are fond of cultural pursuits. You won’t even have to go as far as Boston, since this town has a wonderful theatre of its own, apart from the Music Hall where concerts are regularly held. The University of New Hampshire in Durham, barely 10 minutes away offers courses in continuing education that you might like to investigate.

If you’re worried about medical facilities now that you’re older, you shouldn’t be because you can visit the Portsmouth Regional Hospital, which is highly respected. In case you are a heart patient, you can rest assured that your needs will be taken care of.

Here’s some good news for you. The hospital has recently included a cardiac section. Apart from this, don’t forget that Boston isn’t far away - and Boston is known for some of the best hospitals in the world.

If that’s not enough, perhaps you’d welcome the news that New Hampshire provides senior citizens with assistance in the shape of sponsored drug program. It is also considered the safest state in the country, so you can relax – there’s no need to worry.

And finally, remember the snow? You’ll find plenty of it in Portsmouth and can expect to find yourself shoveling it out of the way. Quite a contrast if you’ve been accustomed to living in a conventional building with a doorman on duty. But you can’t say it won’t make your life more interesting! You’ll find property taxes reasonable at 1.18% of the assessed value of your property.

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The Bliss of Retiring in Bellingham

Friday, April 21, 2006

When the time comes to retire, choosing where you’d like to live in the twilight of your life can be a difficult decision. As a senior citizen, your needs are different from those of the younger generation. However, Bellingham might just be the place for you.

This is one location where you can be fairly sure you’ll have the best of both worlds. Located in Washington State, approximately halfway between Seattle and Vancouver, Bellingham promises to be a happy blend of the great outdoors and the conveniences of urban life.

In Bellingham, you’ll find that you can live in a multistoried building and still have the choice of fishing for salmon in the creek. With a population slightly over 67,000, Bellingham seems to have it all. Approximately 12% of the residents of this town are over 65 years of age, so as a retired person, you should have plenty of company.

Situated on Bellingham Bay, you’ll find as many as three freshwater lakes here, apart from plenty of streams. Here is a town that has the aspirations of a big city without the problems. There are plenty of boat slips and quays, apart from the Interurban Trail System, which cuts through the town to reach Larrabee State Park.

If you’re fond of skiing, you’ll find that you are conveniently located a couple of hours away from Mount Whistler in Canada. You could also travel further east from Bellingham to Mount Baker, about an hour away.

Looking at practicalities, the cost of a 3-bedroom house in Bellingham is in the region of
$ 170,000. This is considered quite reasonable compared with the prices on the east coast and other areas on the west coast. Major cities located near Bellingham include Vancouver, which is 60 miles away in British Columbia and Seattle, 90 miles away.

You could even get a 4-bedroom house for less than $ 350,000, close to a quay where you may like to anchor a boat. At the same time, you could be within easy distance of a golf course. So even if you’re not already a golfer, this is one sport you could consider taking up.

If you’re keen on cultural pursuits, you’ll be happy to know that the drama department of Western Washington University stages plays on a regular basis. Apart from this, you could drop in to Village Books located in the historic sector of Fairhaven. This is a popular meeting place for discussions.

As a retired person, you may be concerned about your health. You’ll probably find that St. Joseph’s Hospital will take care of your needs, particularly since it has just been expanded to include a new cardiac care unit.

Nevertheless, a number of senior citizens claim that health care facilities have not been up to the mark and have failed to deliver quality care. This has caused physicians to opt out of established networks. As a result, it is a fairly common practice for residents of Bellingham to cross over into Canada, where they have access to more inexpensive prescription drugs. Some even cross the border for dental treatment.

Temperatures vary between 75° and 32° F. It seldom snows in Bellingham, but the city has plenty of rain, for as many as 93 days through the year. Summer temperatures hardly ever cross 80° F.

Most of what you’ve heard so far sounds pretty good, doesn’t it? So, you may be wondering, where’s the catch? You’re right, there is one, if it can be called that. Property prices have been going up. They increased by nearly 10% in 2002 and could expand by another 10% in the near future.

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Retirement in St. George, Utah

Tuesday, March 21, 2006

When the time comes to start winding down, when you have lived your life and feel that it’s time to put your feet up, you need to think about retirement. The first question on your mind will probably be – where?

Naturally, you’d like to look at the kind of place where your day-to-day life will be simple and easy to manage. You’re not as young as you used to be and comfort and convenience are important.

If this is the way you are thinking, perhaps St. George in Utah will be the kind of place you are looking for. As a retired person, there’s no getting away from the fact that finances will be one of your major concerns. So let’s take a look at a few hard facts.

Generally speaking, the cost of living in St. George is low, with property taxes amounting to less than 1% of the assessed value of the property. For those who are buying their second home, taxes are a little higher. St. George has attracted a number of people from California, who find that they can acquire two homes in St. George for the cost of the home they left behind.

Although there is an estate tax, the state of Utah is governed by federal laws. Consequently, assets up to $ 1 million in value are exempted from this tax. Income tax is charged at 7% with sales taxes a shade over 6%.

St. George is a picturesque spot in the southwestern part of Utah, within 120 miles of Las Vegas. Close to the Snow Canyon and a couple of hours away from Bryce Canyon, the Grand Canyon and Zion National Park, St. George also offers facilities for a variety of sports for people of all ages.

So if you are interested in sporting activities, you have plenty to choose from. About 17% of the town’s total population of approximately 50,000 is over the age of 65 years. The average price of a 3-bedroom house is about $ 200,000.

With golf courses, trails for walking, a swimming pool and tennis courts, St. George appears to have thought of everything for every kind of preference. Take the swimming pool for example – there are swimming lessons for people with arthritis and various other handicaps. Other activities include cycling and softball, apart from the Huntsman Senior Games. This is an annual feature held in October that draws about 5,000 athletes to St. George.

However, St. George is by no means a hotspot for athletes alone. So if you are more inclined towards cultural pursuits, you’ll find plenty to interest you in that direction as well. Such as the Tuacahn Theatre where concerts and plays are performed in a natural arena formed from red rock.

Because Las Vegas is so close to St. George, it is easy for Tuacahn to attract prominent performers, who contribute richly to the cultural life of the community. The other factor is the presence of the Latter day Saints community.

There’s also an annual Shakespearean festival at the Southern Utah University not far away. In addition, there’s a community theatre at which volunteers give musical performances. For people who enjoy quieter pursuits, the Dixie State College inside the town arranges trips and classes for senior citizens.

Since St. George is a small place, there is a single hospital, but another was due to open in 2005. Around the same time, the airport was expected to be able to accommodate jets. In the normal course, the residents of St. George make use of Las Vegas airport for their travel requirements.

The Mormon way of life encourages the development of cultural activities within families. As a result, there are a great many people who take an active interest in singing, playing musical instruments and dramatics.

However, there are disadvantages in this apparent paradise. Situated at the northern edge of the Mojave Desert, temperatures vary between 103° and 29°F. The climate, which is dry and sunny, draws snowbirds during the winter months. However, it can go to the other extreme in summer when it is quite a hothouse. Apart from this, there is a shortage of water and residents find it necessary to use water carefully.

Last but not least and particularly important to senior citizens is the fact that children are usually polite and treat older people with deference. All in all, St. George offers a happy blend of conditions that make for a comfortable retirement.

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The Lure of Largo

Tuesday, February 21, 2006

When you start thinking about the ideal place in which to retire, Largo in Florida could be just what you are looking for. With a population of around 70,000, you’ll find more than 30% of residents over the age of 65 years. If you are keen to belong to a retirement community and are looking for warm weather, sunshine, beaches and a good life, you’ve found it!

Residents of Largo appear to be perfectly happy where they are and often do not feel the need to go elsewhere on vacation. Doesn’t that sound tempting? Imagine living in such a place! Too good to be true? Not really. Read on and you’ll find out more.

Largo is located in the Tampa Bay area, 15 miles away from Tampa and St. Petersburg. The average price of a 3-bedroom house here is just over $ 150,000. You’ll also find condominiums on the beachfront surrounded by palm trees – scene that could quite easily have come straight out of a postcard or picture book.

Unlike Clearwater and St. Petersburg, which have spread out as they have grown, Largo has remained unspoilt, prosperous and old-fashioned in a charming sort of way. The social character of Largo is typical of what most people visualize when they hear the term ‘retirement community’.

Golf courses and parks in Largo are clean and unpolluted, and what’s more, the residents of Largo appreciate the fact and know that they are lucky to have such a wonderful environment. One of the senior citizens even claimed that if Largo’s weather were up for sale as a commodity, it would easily fetch a million dollars!

Generally speaking, the weather here is warm with temperatures varying between 82.5° and 60.5° F. Summers are humid but bearable. It seldom rains and snow remains a distant dream.

With such a large proportion of residents over the age of 65, life in Largo is predominantly colored by the culture of retirement. You’ll find people meeting wherever they can, often in church. It’s fairly easy to meet new people in Largo.

If you’re looking for cultural pursuits, you should visit the Largo Cultural Center where there are popular music festivals. However, major events are held further away in Tampa or St. Petersburg.

Largo is by and large a safe city with a mix of people belonging to different races. There’s not much crime here and because of the different kinds of people living there, you’ll find a wide range of restaurants with plenty of special offers.

If you are worried about your health, you can visit the Largo Medical Center. This is a facility accommodating 256 beds and is located inside the city limits. Apart from this, there are other larger hospitals approximately 30 minutes away.

As for the cost of living, it is lower than the national average. So also is the cost of housing. Golf and softball are popular sports here. There are five golfing clubs in Largo, while many people also anchor boats in the Gulf of Mexico.

The state of Florida charges a sales tax of 6%. However, there is no income tax and any problems with the state’s budget barely affect the residents of Largo. So now that you know what you know about Largo, does it sound like the kind of place you’d like to retire in?

Take a moment to stop and ponder – after all, you have everything to gain and nothing to lose.. Wouldn’t blame you if you have a hard time coming to a decision about a place like this! There aren’t many of them – and remember you only live once, so why not go for it!

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