The college years of your life are supposed to be the most enjoyable. It is filled with that newfound independence that we all crave and seems like a four year period of paradise to us all. There is the possibility to do anything you want without limits imposed by parents and if it is ordering food when you want, at what time you want, you can do it. But this is also a time when money is tight while expenses and tuition are insanely high, making it easy to slip into debt. Thankfully, though, it can be avoided.

Many persons fail to realize that going into debt is a choice that they make. There are certain aspects of debt we may not be able to avoid such as loans but extra credit card debt… we can definitely avoid this. This is not a part of college.

There are many persons that advice against attaining a credit card while in college. This is not my opinion as I believe that every student should have a credit card from my own personal experiences as a college student. The attainment of a credit card is not bad for a college student but irresponsible use is the main problem.

It is important to realize when we get a credit card that this is not free money. All that money is due back in full plus interest to boot. A credit card is simply put a cash advance. If you car breaks down and you do not have the necessary cash to get it repaired then you can get a cash advance which you have to repay at a later date. Once you set this in your mind there are a couple more tips to follow to avoid college debt.

Save Until You Need It

We all have times when we use our credit cards and we do not need too. This is natural. You saw a shirt that you wanted and used your credit card. There is no problem with this once in a while but know your limits. If you bought the shirt stop there as you have to repay the amount spent plus interest and leave your credit card for emergencies after that. Using your card unwisely will result in interest changes which exceed the value of your purchases.

Use a Checking Debit Card

You will find that almost all universities have banking services available on campus. Use this and open a checking account and attain a debit card. Use this like a credit card and spend directly from your account. This cuts off the interest and the bills later on. Your credit card is thus reserved for emergencies only and if you do use the credit card you can quickly pay it using your checking account and online banking options. This way you will avoid interest charges and always have credit available on your credit card.

Never Exceed Your Limit

This is very clear. You should never go over your spending limit. There is a very high fee for doing this and your debt will increase rapidly.

Never Spend More Than You Have

Look at your salary and determine the amount that you make every month. Make deductions for bills like gas, food, tuition, etc. What is the amount left? This is the amount that you can spend for the month in credit. No more than this so that you can pay most of the amount off monthly and build good credit. This is done by leaving a small amount on the card every month and building a good credit score by settling this debt in a timely manner.

Create a Budget

You may be busy in school with other things but this is vital. Debt collectors do not care and they want the monies owed to them when due. Build a budget and stick to it. Remember that all you spend you have to repay with interest when you are in a splurging mood.