Should this single new grad with large student loan debt buy a house?
Relocating for a new job which is offerring a substantial sign on bonus and when combined with my new salary all the mortgage calculators say I can spend $2200/mo on housing and that I can be approved for a $150-250K mortgage. I pay $450/mo in consolidated student loan debt ($80K) and have 2 years left of a $352/mo car payment. I have excellent credit and no credit card debt. I’ll be moving to an area I’m familiar with as I grew up in a town nearby. Should I buy now or rent for awhile first?
As the name suggests, a student credit card is specially designed for students and is very different from your regular credit card. Because it may be the first time for college students to apply for a credit card, most credit card companies designed their student credit cards to be a form of secured credit cards.
It will help a student to avoid accumulating high amounts of debt because of reckless spending. If you need groceries, or that recommended book but you don’t have the money for it, then it may be time for you to use your student credit card. It is good if you start learning good financial habits from your student life itself. Don’t use the card to pay for everything and anything. Use it judicially or it will land you in a debt to repay after the college finishes.
It is not unusual to find the representatives of credit card companies promoting student credit card in college campuses. However, finding a right card will take much more than contacting the representative of credit card company. Develop a habit of shopping around and getting the best deal out there. Though the interest rates on student credit cards are relatively low, they also offer a low credit amount. If used judicially student credit card can become the perfect means to build a credit history and jumpstart your financial wellbeing. Read more about it at: http://www.credit-card-gallery.com/article/214,What_everyone_should_know_about_student_credit_cards
