Students, beware of Credit Card Teases

A new semester, a new stage in life, and a promising future, all await young students who will also slowly learn the "ways of the world." Year after year we hear about the cost of attending post-secondary institutions - that loans are not enough, books, and living costs are so much, and there is incredible debt to repay once a program is complete. It's ironic that those very students who will accrue the burden of heavy loan repayments, are often the main targets of banks and credit card companies. Just a word of advice for students. If you are tempted to accept a coupon for a free chicken snack pack, or get a free frisbee, or free cheap gadget, pen, poster, or anything free, then please think twice about it! If the deal involves signing you up to get a new credit card, ask yourself, do you want even greater debt? Or do you want to reduce debt, and save?

As a student, there are essentials, like texts, notebooks, rent, and food, but there are other "non-essential" expenses, that you can control the spending for. For many, perhaps most students, credit cards may be labelled a "non-essential". Question everything.

People may have different reasons for wanting a credit card, but just because it could be your first one, or another symbol of transitioning into adulthood, is not a good reason for it. Think about who benefits from your future credit card debt, who else, the companies and banks... laughing all the way back home, to the bank.

Keep in mind, that the interest rates are insanely high, and this is what helps them make their record profits from quarter to quarter. It will put you in more debt, and often times, it just is not necessary. In fact, there are many better options to increase your income as a student. MUN for example, offers 100s of part-time jobs like the MUCEP program. Do not be lured into increasing your future debt, but focus on keeping it to a minimun, and having more money now and in the future just for yourself and your needs.

There are several money managing sites that provide savings and spending tips, and online financial calculators to help budget. In fact, you can actually find out how much your program will cost, and how much you may spend or save on essentials and non-essentials.

Good luck students, enjoy your time while studying, and take care of your money, or someone else will.

Merry Christmas Economy - Hope you Liked Your Stimulating

It is especially at this time of year that we must think about the less fortunate CEOs of financial companies like AIG, Freddie Mac and Fannie Mae; auto companies Chrysler, Ford and GM. May they be blessed with 100's of billions in stimulus packages without terms. And may CEO bonuses be just as big so as to feed a poor starving nation somewhere in Africa.

The good people of the western world have just went beyond normal need to feed the economic beast by way of Christmas 'n' everything. May our system of economics continue to offer hope to believers and non-believers alike that the system is fair, decent, and oh so rewarding.

May justice be bestowed on investment guru Bernard Madoff who is charged with defrauding the public of $50 billion, and may the selfish starving people of Congo and Somalia stop their begging for food and help out mega-rich industries of the world, somehow.

Yes, may the world unite as one to support the one true way that works, and let us bail out together, the industries that are the symbols of success and virtue in the world, so that once again the world will be as it should. Blessings to both the needy, the greedy, the conniving, and the 'just surviving' of the world.