Senior Year! It is what you have worked toward since the first day of kindergarten -. Or at least your parents have thought of
senior undergraduate year is also the last time that you really have to delay maturity and live in the university's protective bubble (the grad school is simply not the same thing). Although it would be nice to spend the whole year enjoying the memories and hitting all your favorite places -. It is also time to start getting your financial house in order
You can reduce your stress after graduation by taking four steps below
Getting a credit card -. and use it wisely
Contrary to popular belief, credit cards are not the root of all debts and bad. In contrast, credit cards can be an essential tool to build a healthy financial life. If you use the right.
Because of the CARD Act, it is much more difficult for students to get their hands on a credit card - probably a good thing. However, college seniors who are 21 or older with proof of income are generally eligible to get a co-signer without card.
There are many targeted college credit cards, but the key is to find one with no annual fee. At this stage in the game, you should not be worried about rewards or bonuses. You just need to use a credit card to help build a strong credit score
The strategy is simple
Step 1: .. Get a credit card
Step 2 :. Trying to make one or two small purchases per month - these purchases should be less than 20 percent of your available credit limit. If your credit limit is $ 500, then you should not spend more than $ 100 in a billing cycle
Step 3 :. When your billing statement arrives, pay on time and in full balance. Do not just pay the minimum.
Taking these simple steps to university can help build the foundation for, 700+ score healthy credit.
Check your credit score regularly
It is important to check your credit score as you start to build your story. There are many free ways to check your score, so there is no need to spend your money to buy access.
You can use sites like Credit Karma, Quizzle or Credit Sesame.
There are also credit cards that offer access to scores including the Discovery of the student credit card chrome or rewards card Capital One Journey® students.
The ultimate goal is to build a score of 700 or more.
A higher credit score can help you get access to the best products on the market. There are also some jobs that will run a credit check on you during the hiring process and if you want to rent an apartment -. A homeowner will most likely pull your credit report
If you have dug yourself in credit card debt last year is the time to start seriously working to repay.
Evaluate your student loan situation
Nobody really wants to think of debt in college. It is last year, the time to live and not worry about what awaits them on post-graduation. While it would be incredibly easy to store in a protective cocoon of the university, you need to get your financial house in order before graduation.
Take time to sit down and organize all your student loans. Learn which are federal and which are private. Make a list of who has them and when you will be expected to start making the payments. Federal loans generally give you a six-month grace period, while private loans could go into action a month after graduation.
Do not hesitate to start making payments, especially if your interest is subsidized and all you pay is going to erode the principal balance of your loan.
Do yourself a favor and save some of your post-graduation stress by determining your student loans early.
Start building an emergency fund
Build an emergency fund and get a job go hand in hand. When you start to make money or if you already earn a paycheck, set a goal to save at least $ 1000 ..
The typical personal finance advice is to have a fund 'wages of emergency for three to six months. It is OK if you build that amount after graduation. For now, focus on having at least $ 1,000 set aside and do not touch it unless a real emergency occurs.
Build a financial buffer can help prevent falling into debt if a doctor bill appears or car crashes. Develop the habit of saving $ 1,000 while you are still in college or soon after graduation also sets you up to save him success in the future.
Do not forget to have fun
Consider this list as a guide to help you through the last two semesters of college and prepare for life after graduation . But do not be so focused on trying to understand the future that you forget to have fun. Enjoy your senior year.
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