MONEYWISE
Your Money
What every college student needs to know about credit cards
By Lois Barrett
Shaz Jumaralli was only four months into her sophomore year of college, but she had already accumulated $3,500 in credit card debt. At first, having a credit card seemed reasonable, even necessary, for the 19-year-old student. She had planned to use it to pay for meals until the university meal plan kicked in each semester. But Jumaralli's good intentions went awry once she had that "plastic" in hand. Jumaralli ended up working two jobs to pay off the debt.
Admirably, Jumaralli cleared up her balance while still in school. Many students, however, end up graduating with inordinate credit card debt on top of student loan burden. Financial experts caution that college students in particular must understand that credit cards are not "free money," and that every time they charge an item, they are in fact receiving a very expensive loan.
Before filling out a credit card application, every college student should take advantage of personal finance workshops on campus or nearby. Books such as Sanyika Calloway Boyce's Crack Da Code: What Every College Student Needs to Know About Money, Love & the Dream Job (Smart Concept Books Publishing; $14.95 and Websites such as Cardratings.com can also help build knowledge.
When Jumaralli began shopping for her card, she did do a lot of things right. She checked to see if annual percentage rates were fixed or variable. She also checked the default rate -- the rate customers pay if they miss a payment.
Understanding the basics of money and credit management is a must before obtaining a credit card. Here's what you need to know before filling out a card application or accepting a pre-approved offer:
The interest rate: Although students often qualify only for student credit cards, which traditionally have higher interest rates, they should still shop around for the best deal. According to Cardweb.com, low-interest-rate cards currently carry APRs below 14%.
The introductory rate period: That initial low rate could expire in mere months. Know the jump rate -- the rate the card will jump to after the introductory rate expires.
The default rate: Credit card interest rates can often skyrocket because of even one late payment. Jumaralli's credit card had a fixed APR of 9.99% but shot up to 23.99% when she missed payments.
The annual fee: Students should choose a card with no annual fee.
The credit limit: Cards with low limits -- no more than $1,000 -- help students avoid the temptation of overspending. Keep the limit low by not accepting periodic limit increases.
Consequences can be grave for college students who can't control their spending. Bad credit can affect the ability to obtain a loan, apartment rental, or job. More and more companies run credit checks on prospective employees. To graduate from college with little or no credit card debt and an excellent credit history, MetLife financial planner Robin Vetere suggests charging only necessities, such as school supplies and books, not clothes, bar tabs, vacations, or other discretionary purchases. Also crucial is paying the bill in full and on time every month.
4.21.2007
4.12.2007
How determined are you?
http://kontraband.com/show/show.asp?ID=5870
will you be able to finish the impossible quizz?
If you do, just tell me what was the last question.
In a week or 2 I will post the anwers,but it doesn't mean you will be able to finish the quizz.
Take a deep breath before starting :p
will you be able to finish the impossible quizz?
If you do, just tell me what was the last question.
In a week or 2 I will post the anwers,but it doesn't mean you will be able to finish the quizz.
Take a deep breath before starting :p
4.06.2007
Management Lessons
Lesson Number One ***********************A crow was sitting on a tree, doing nothing all day. A small rabbit saw the crow, and asked him, "Can I also sit like you and do nothing all day long?" The crow answered "Sure, why not." So, the rabbit sat on the ground below the crow, and rested. All of a sudden, a fox appeared, jumped on the rabbit and ate it. Management Lesson: To be sitting and doing nothing, you must be sitting very, very high up. _________________________________________________________________
Lesson Number Two ************************A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, "but I haven't got the energy." "Well, why don't you nibble on some of my droppings?" replied the bull. "They're packed with nutrients." The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The next day, after eating some more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top of the tree. Soon he was promptly spotted by a farmer, who shot the turkey out of the tree. Management Lesson:
Bullshit might get you to the top, but it won't keep you there. _______________________________________________________________
Lesson Number Three ************************** When the body was first made, all the parts wanted to be Boss. The Brain said, "I should be Boss because I control the whole body's responses and functions." The feet said, "We should be Boss as we carry the brain about and get him to where he wants to go."
The hands said, "We should be Boss because we do all the work and earn all the money." And so it went on and on with the heart, the lungs and the eyes until finally the asshole spoke up. All the parts laughed at the idea of the asshole being the Boss. So the asshole went on strike, blocked itself up and refused to work. Within a short time the eyes became crossed, the hands clenched, the Feet twitched, the heart and lungs began to panic and the brain fevered. Eventually they all decided that asshole should be the Boss, so the motion was passed. All the other parts did all the work while the Boss just sat and passed out the shit! Management Lesson:
You don't need brains to be a Boss - any asshole will do. __________________________________________________________________
Lesson Number Four ************************A little bird was flying south for the winter. It was so cold, the bird froze and fell to the ground in a large field. While it was lying there, a cow came by and dropped some dung on it. As the frozen bird lay there in the pile of cow dung, it began to realize how warm it was. The dung was actually thawing him out! He lay there all warm and happy and soon began to sing for joy. A passing cat heard the bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung and promptly dug him out and ate him!
Management Lessons:
1) Not everyone who drops shit on you is your enemy.
2) Not everyone who gets you out of shit is your friend.
3) And when you're in deep shit, keep your mouth shut!
Lesson Number Two ************************A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, "but I haven't got the energy." "Well, why don't you nibble on some of my droppings?" replied the bull. "They're packed with nutrients." The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The next day, after eating some more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top of the tree. Soon he was promptly spotted by a farmer, who shot the turkey out of the tree. Management Lesson:
Bullshit might get you to the top, but it won't keep you there. _______________________________________________________________
Lesson Number Three ************************** When the body was first made, all the parts wanted to be Boss. The Brain said, "I should be Boss because I control the whole body's responses and functions." The feet said, "We should be Boss as we carry the brain about and get him to where he wants to go."
The hands said, "We should be Boss because we do all the work and earn all the money." And so it went on and on with the heart, the lungs and the eyes until finally the asshole spoke up. All the parts laughed at the idea of the asshole being the Boss. So the asshole went on strike, blocked itself up and refused to work. Within a short time the eyes became crossed, the hands clenched, the Feet twitched, the heart and lungs began to panic and the brain fevered. Eventually they all decided that asshole should be the Boss, so the motion was passed. All the other parts did all the work while the Boss just sat and passed out the shit! Management Lesson:
You don't need brains to be a Boss - any asshole will do. __________________________________________________________________
Lesson Number Four ************************A little bird was flying south for the winter. It was so cold, the bird froze and fell to the ground in a large field. While it was lying there, a cow came by and dropped some dung on it. As the frozen bird lay there in the pile of cow dung, it began to realize how warm it was. The dung was actually thawing him out! He lay there all warm and happy and soon began to sing for joy. A passing cat heard the bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung and promptly dug him out and ate him!
Management Lessons:
1) Not everyone who drops shit on you is your enemy.
2) Not everyone who gets you out of shit is your friend.
3) And when you're in deep shit, keep your mouth shut!
4.02.2007
Work On Your Power Of Attraction:Integrity
Do you think people can trust you? Can anybody rely on you? Because this is what integrity is about.
For people to respect you and admire you, they have to trust you & feel that they are safe with you.
You can't provide false information to people trusting you, you can't lie & you can't use them either.
However, you can choose to appear as someoe with integrity while you are not. Businessmen for instance usually think integrity can't always be effective. Make sure your game is slick enough not to be noticed if you're planning to misleading you partners . I'm sure you wouldn't like to be caught in the middle of a lie, because it could destroy your credibility & the reputation you took so long to build.
For people to respect you and admire you, they have to trust you & feel that they are safe with you.
You can't provide false information to people trusting you, you can't lie & you can't use them either.
However, you can choose to appear as someoe with integrity while you are not. Businessmen for instance usually think integrity can't always be effective. Make sure your game is slick enough not to be noticed if you're planning to misleading you partners . I'm sure you wouldn't like to be caught in the middle of a lie, because it could destroy your credibility & the reputation you took so long to build.
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