Thousand-Dollar Money Mistakes: How to Prevent Them

We've been looking at the ways young people waste the most money without knowing it—at least a thousand dollars—and guess what? There are tons of ways, which is pretty scary! Here's a look at the most common disaster spots for your wallet.

Using a debit or credit card for minor purchases.Have you ever gone into a store to buy a bottle of pop and ended up spending ten bucks rather than two bucks because the store has a “minimum” purchase requirement for using a card? You know, you just start grabbing things, whether you really need them or not. Studies show we spend around eight bucks more when we charge small items rather than pay cash.

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The Secrets of Renting Your First Pad

Do you know the answers to these questions? (If you don't, you're not ready to rent!)

  • What's the difference between renting and leasing, and which should you do?
  • Planning on sharing expenses with a roommate? Who signs the rental or lease agreement? You or the other person? Does it matter?
  • How do you know if an apartment is right for you?
  • What's a "sublet" clause? And do you need one?
  • Did you know you could still be liable for paying the rent after you leave an apartment?

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How Social Media Can Impact Your Credit Score!

Credit rules your life, just like social media does (for most people these days). Now, you should know that your social media life could be ruling (and perhaps ruining) your credit. Be careful, and avoid becoming the focus of the latest “peer pressure” mentality* in lending!

Imagine this: Some of your social media friends don't pay their bills when they are due. Shortly thereafter, the cost of credit for you—the interest you pay on some credit cards and loans, and maybe even the amount of deposit you pay to rent an apartment—goes up. Your actual credit score with some credit reporting companies goes down, too.

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New Student Loan Regulations: What’s Changing For You?

If you have a student loan, you probably have already heard that the rate on some student loans has doubled overnight, from 3.4 percent to 6.8 percent. Why? Congress couldn’t agree on passing a bill to keep the rates at 3.4 percent.

So, is it time to panic? No. Here’s the scoop

First, if you already have a federally subsidized loan, the rate on your current loan won’t go up. The rate increase applies only to new federally subsidized loans, not to old ones.  

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