How to Stay on RIght Track Financially

By: Alcides Hoy Jr.

As we slowly approach the end of this coming semester we must start planning for next upcoming year. Many times parents send their children away and don't provide them with the knowledge and tools in order to form the right financial plan. So we don't lose our minds financially we must consider a few options in order to live good in college. First you want to get some estimates of your possible expenses so you could guess about how much money you will need. The more time you have spent in college, the easier it will be to start the estimate process because you will already have a sense of what how much you spend. If you plan on getting a job or have one already set a standard amount of hours you will work in order to make a set amount of money weekly. If you sense that you spending habits will get out of control try to work more hours in order to support your habit. Secondly if needed get a credit card or set aside an account strictly for emergency just in case money isn't coming in. Many people don't realize how quick something negative could change everything. And lastly get a timetable to figure out exactly when during every month you will need to pay certain bills.

http://money.cnn.com/2003/08/01/pf/college/school_moneytrouble/index.htm

http://money.cnn.com/2002/12/10/commentary/everyday/sahadi/index.htm

http://www.bankrate.com/brm/news/sav/20000814b.asp

What if you don't plan for your kids' college

By Po-cheng Huang

With the unemployment rate hits the highest in 25 years, most students who just, and about to graduate from colleges to join the work force are facing enormous challenges not only to feed themselves, but they are also carrying the pressure of paying off their student loans. That is why it is important to plan ahead for college so that your children will not end up in a position where most college graduates are. For tax purposes, you can choose to buy qualified educational bonds to invest in, Stock is also a good option although is much riskier than bond. Treasury bills, muni bonds, different investment funds are also financial tools to grow your capital for future use. In order to achieve that goal, unnecessary expenses must be cut and you got to put away a good amount of money to save for your goal while still being able to support your daily expenses. If you are able to accomplish this, you are doing not only yourself a huge favor, you are also helping your next generation because they are free from debt and is more likely to do things they wish to, while on the other hand, if they are so in debt and unemployed in an economy like this, the kids will very likely come back to you for financial support. And that, is usually where things starts getting ugly.

Reference
http://www.bloomberg.com/apps/news?pid=20601103&sid=aoxQ7YAvdMfU&refer=us
http://www.azcentral.com/business/articles/2009/04/05/20090405biz-college0405.html
http://amc.nazarene.org/index.php?option=com_content&task=view&id=260&Itemid=34

Student loan handling

Copy and pasted by Po-cheng Huang