GOODBYE DEBTS HELLO TO THE GOOD LIFE

Three major thoughts to keep in mind when spending your moneyBy Mirette MisakStudent Life EditorGoing to school in the NYC can get extremely costly but it is possible to avoid debt in the future. So instead of ending up cold, hungry, tired and broke in the city, here are some tips that have helped others in the past:1. IF YOU DON’T HAVE IT, DON’T SPEND IT:A credit card can do whatever you allow it to. It can either help you or hurt you depending on whether or not you make the right choices. Credit cards are good for emergencies such as not having transportation money and are good for increasing your credit score. Since tuition, books and fees can be costly no matter where you go to school, some get loans. When the time of graduation comes, so will your bills to pay back that loan. Why then, would anyone want to be paying thousands or even hundreds on credit card billing if you can use it for rent or tuition payments? Instead, only buy something if you have the cash already in your bank account.2. DON”T SPEND IT IF YOU DON”T NEED TOBefore you go spending your cash on fast food, know your prices. For example instead of paying four dollars for coffee see if you can buy it for less someplace else. If you really want to save, then bring your own food and coffee from home. The amount you will spend on grocery shopping will cost you a lot less than eating out everyday with your friends. Of course it is not expected that you have the time to cook so it’s suggested that you bring snacks or healthy food that do not take up much time to put together and are not too messy to pack. What would be even better is if you ate before you left home and when you had returned that way you can use that money for transportation. Also as a college student, you receive many discounts in several places. For example off Broadway show tickets or magazine issues so take advantage of being in college. As for textbooks, look for the cheapest place to buy them and double check with your professors to make sure you have the correct copy.3. AVOID PAYING TUITION YOUR ENTIRE LIFETIMEScholarship websites, such as Fastweb.com, offer many opportunities for students in any major for as much as $10,000. Try to apply for as much as you are eligible for. Financial Aid is also a big help so filling out your FAFSA form as soon as January comes around would help you a great deal. The sooner you fill out your FAFSA the more you get according what you deserve. Don’t wait around till the last minute and go after your money! If you cannot handle a studying while working part time, you should consider work-study which you can apply for on your FAFSA. Work-study is a job that can work with your schedule and will not take away much of your studying time. Do as much as possible to decrease your student loan payment so that when the bill comes after graduation, it won’t be too much of a burden. What would prefer paying off tuition in five years, or in one year then being able to spend it on luxuries like a car and fancy apartment?