The Danger of Credit Cards

When using credit, you have to be careful. If you have a tendency to just spend freely, and overspend more than you want too, then I would advise that you get a debit card that you use on every day transactions instead of a credit card.

With a debit card, you can only spend money that you have in your checking account, where a credit card you can spend up to your credit limit, which is a number that the card company decides. Many people don’t keep up with how much they spend and end up accumulating massive credit card debt. You won’t do this with a debit card. A good place to get a debit card is Wachovia, especially with their $50 bonus promotion **edit- promotion ended** going on right now.

While credit cards are not bad, they can be if you do not use them properly. Most Americans today have credit card debt, and many college students do as well. When you are in college, you have enough debt without credit card debt. You need to know when to stop spending money because you don’t have anymore, and how to save money to make it last longer. Hopefully this site will help you make your money go further and if you’re in college graduate with less debt.

Of course, the best way to avoid debt is to pay cash for everything, but I don't like to do that because I can't keep track of how much I spend. I like using a debit card because I can see online what I spend money on and how much I spend, and then I can develop a more accurate budget based on that. By analyzing how much money you spend in different areas, you can decide if you need to cut back on how much you spend on different things. Many times I will start to spend a lot of money on something, like eating out, and not even realize it. But when I see my account online, I realize that I have been eating out too much and need to cut back.

The key to using credit or even debit is to just be responsible. Keep track of how much money you spend, and do not go into debt.


Discover Open Road Card

Are you looking for a credit card? I’ve never owned one until recently, but I decided that it would be good if I got one. I read a lot of blogs and reviews about different cards, and finally settled on the Discover Open Road Card for Students.

This card gives you 5% cash back on gas and auto maintenance purchases, and 1% on everything else. I applied for it and was approved quickly, and I got it in the mail a couple weeks ago and everything seems to be going good. I only use it for gas normally, unless something comes up and I don’t have enough money.

With this card you can view all your transactions online, and can get e-statements online instead of in the mail. I like this feature, because when I’m away at college it doesn’t do me much good for my bills to go to my parent’s house. I would recommend this card to college students with little or no credit, as they approve you on the basis that you’re enrolled in school, not how much money you have.

Click here for a link to sign up for this card



The author of this site is not a financial planner. Everything on this site is for informational purposes only. What you do with it is your own business, and I am not liable for what you do.


$50 promotion with Wachovia checking

Wachovia is running a promotion right now where if you open a new checking account and fund it with $100, they'll give you $25. If you direct deposit another $100 within 90 days, you get another free $25. Thus, $50 free from Wachovia.
Click here for offer
**edit-promotion is now over**


FNBO Direct 6% Online Savings

FNBO Direct, which is the online version of First National Bank of Omaha, has an offer going right now for an online savings account with 6% interest guaranteed not to change until after September 28 **rate change 10/1/07 to 5.05% APY**. Even after then it will probably have a competitive rate. The minimum deposit is only $1. You can link up to 3 banks to your account. The only downside is it takes about 3 business days for any deposits to clear, but thats not a big deal to me. This is a great account to stash money in that you don't need to use anytime soon. It would also be a good account to use as an extremely low-risk investment. Oh yeah, it's FDIC insured also. Here's the link



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First of all let me say that I am not a financial guru or millionaire or anything like that. I am a college student trying to graduate debt free, and then make a million dollars. I created this blog to document all of the valuable things that I discover as I go through college and all the ways I find to make money and save money.
Currently, I am a senior in college at Liberty University. I live off campus and work a part time accounting job. My major is Business Finance and I plan on retiring early and then just working part time on something I enjoy. I would like to eventually see this site make money, but for now I am just trying to provide valuable content to readers.
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