How to Fund a Budget Student Vacation

Budget
Budget

If you’re a student, finding a few extra dollars to take that summer vacation can seem like an impossible undertaking. There are, however, a few different ways that you can still afford to take that vacation without plunging further into debt.

Get rid of your unwanted goods

Accumulating unnecessary dross is an inevitable part of student life. If you were to diligently sift through the items in your room, you would unquestionably find an array of clothes, CDs, DVDs, books and games that you no longer have use for. Instead of allowing these items to gather dust, consider using a site like Music Magpie to sell these items and put a few extra dollars in your vacation fund – it’s a far more intelligent use of your resources.

Get a part-time job

Your course load, sporting commitments and social engagements may preclude you from pursuing gainful employment during term time (although many students do manage to strike the right balance). Holidays, however, are the perfect time to take steps towards funding your vacation.

A part-time job could mean all manner of things, but, increasingly, there is money to be made online, without needing to leave the house. If you’re a humanities or social sciences major and a dab hand at writing, consider using a website such as Elance to find freelance writing work, while the more visually artistic among you may consider selling your photographs to a website like iStockPhoto, who reward you with commissions when any items are purchased by the site’s users.

Rent out your room

If you’re living off campus, the chances are that your room is unoccupied for over one third of the year. Herein lies an opportunity to add several hundred dollars to your vacation fund.

During holidays, consider renting your room out on a website like AirBnB. The site offers comprehensive insurance, in the region of $1,000,000, so you can rest assured it’s perfectly safe, and earn a great nightly rate for doing very little. The site is growing in popularity and vast swathes of people are increasingly seeing renting a room through the site as a savvy alternative to expensive hotels.

Take out an interest-free credit card

Credit scores are a fickle beast, but if you’re desperate to get away, and you’ve explored all other possible options, it could be worth applying for an interest-free credit card, to help pay for those little last-minute vacation essentials.

Putting yourself into deeper debt simply to go on vacation may not seem wholly wise, but, with some credit cards offering interest-free periods in excess of 12 months, it could be a financially savvy move, assuming that you create a realistic repayment plan.

When taking out a credit card, however, one must proceed with caution: under no circumstances should you take one out without the planned means to pay the amount loaned back. Set up an automated payment for the minimum required each month. Failure to repay the monthly minimum could result in the interest-free perk being reneged upon or extensive charges being applied to your account.

The dream is closer than you might think

Sun, sea and sangria may seem like distant dreams, but the implementation of some, or all, of the techniques outlined above could help you get a little closer to that vacation you’ve been day dreaming about over the last few months.

How to Fund a Budget Student Vacation

The DIY Loan And Financial Life Saver Guide For Students

Financial Life Saver Guide For Students

Surviving at college financially can be a real struggle especially with the current economic situation. With huge fees and loans, students will find themselves in huge amounts of debt. Whilst living costs continue to rise, there are always options available for students to save money. Here we have provided 8 great finance saving tips that could ease the financial troubles of students during the time at college.

1. You will be in command of your own finances so only you can get yourself into trouble.  You are accountable for your financial situation and you need to react appropriately by setting up a practical spending budget or schedule and adhering to it.

2. Keep an eye on what you spend and don’t waste money needlessly. You actually dictate your money, deciding the way you spend or conserve it.  Control your spending and improve saving by reducing needless expenditures like going out to restaurants, drinking or going shopping which means that your money can last longer throughout each college term.

3. Make use of borrowing money on credit sensibly. Be aware of the obligations and advantages of credit but don’t abuse it.  Just how you manage your credit while attending college will make a difference after graduation.  Search around for a credit card that best fits your financial needs and be sure to use it sparingly.

4. Acquire a Banking Account. Banks tend to be more than lenient to students as they see you as a long term customer. They provide useful products and services that students can usually benefit from like graduate loans, debit cards, internet banking, personal loans, special discounts, student overdrafts plus some benefits such as insurance.

5. Search for other sources of income. There is plenty of money saving resources accessible for students, you need to simply search for it. Submit an application for scholarships or grants and check out all available student discounts.

6. Think about shopping for used books or purchasing them on the internet.  Shopping for books can get expensive and frequently used books are normally in the same condition as used books.

7. Keep your recreational activities on a budget. Restrict your social spending.  There are numerous student activities to keep amused at college and quite a few can be free to students.  Make use of your budgeted meals and avoid eating out so much.

8. Always be clever in relation to money. You should not simply trust anybody with your money.  Always be dubious of classmates, of other students or sales agents who may have a need for you to spend or invest your money.

9. Conserve your money wherever possible.  Unexpected things happen, and it’s really essential that you are in financial terms equipped whenever your computer stops working or should any unexpected costs arise. It is always good practice to manage your money well and only spend on what is absolutely essential.

10. Get help from family and friends and remember your parents can always provide great advice for you on how to manage your money. Look on the internet and read articles like this which will give you lots of tips and advice on saving money.

Author Bio

This post was brought to you by http://loanswithlogbook.co.uk/ who offer information on taking out logbook loans. They have lots of guidance available on their website so that you can make an informed decision.

The DIY Loan And Financial Life Saver Guide For Students

Select the Best Education Loan for Your Bright Future

Best Education Loan for Your Bright Future
Best Education Loan for Your Bright Future

If you are planning to start a higher education, either you are a parent of a student, or a student going to finish the degree, there are tons of options available to finance you through the grants or loans. There are multiple organizations available to provide such grants or loans for the education purpose to the students. These are termed as education loans or student loans. When you are planning to obtain such education loans, there are several main points available which you must furnish thoroughly before starting it.  They are:

 

  • Try to compare the rates and options of the loan
  • The loan application for obtaining is easy or difficult
  • Either the account which you are going to manage is straight forward or not
  • The payment of loan amount is simple or complicated

In olden days for verifying and confirming the best loan company you have to walk to all the loan company’s steps. But nowadays this becomes very simple because of the availability of the easy access internet facility through which you can confirm the best loan company by sitting in your home. The loan companies are providing the loan sheet in their online websites in which if you have filled the necessary details regarding your loan then you will get the complete task sheet mentioning the loan amount and its interest with duration of the interest and total payment.

Even these online websites of the loan companies will provide you with various other options and application like the guidelines for the individual loan type, general policies of the company, helping hand option to contact the company personnel to clarify any doubts if you have.

If this is the first time you are planning to get a education loan in your life then you should be more careful in selecting the perfect loan company and loan type. The main features which you should keenly observe before starting any education loans are as follows,

  • Loan Features
  • Loan Types
  • Loan Payment Options
  • Help and Support service

Loan Features:

The loan companies provide you with multiple tools and accessories to find out the best loan type. They are,

  • Online loan payment calculator
  • Nearby school or education institution locator
  • The educational institutions which the loan company covers

Loan Types:

To found out the perfect loan types you have to see the entire loan company website in which they will be providing certain points for the visitors to get a clear route. They are,

  • The various loan types of the company
  • The interest of each loan type
  • The eligibility of each loan type
  • The duration and payment of each loan type
  • The documents that are necessary for each loan type, etc

Loan Payment Options:

Check for the loan payment, its duration to pay, the interest for the specific amount which you need, etc. for checking these all most of the loan companies provides online loan amount calculator which make your work easy and accurate.

Help and Support Service:

In case of any doubt that has to be clarified some help options will be there, among which contacting the toll free number is a easy and affordable method. Other options are contacting the branch helping hand or emergency official, mail service, etc.

Author Bio:
My name is Sachin. I have written this post to give you good information on the above topic. I have also written much on Barnes and Noble coupon code and various other related topics. If you are looking for I See Me coupon code then the best place to look for them is online.

Select the Best Education Loan for Your Bright Future

Best Student Loan Consolidation Tips

Best Student Loan Consolidation Tips
Best Student Loan Consolidation Tips

Getting an education might help you earn more money in the future, but it carries a high cost. Student loan debt is something many young people struggle with for a good portion of their lives. If you’ve racked up a lot of debt, you’ll want to take a moment and consider whether consolidating those debts can help you. Debt consolidation can actually help you pay off your debt sooner, if you know how to organize and properly manages the rest of your finances.

Keep Private Loans Separate

There’s no benefit to consolidating non-student loans with student loans. In fact, many times, there are disadvantages. Student loans may have better repayment terms than your other loans. For example, if you go ahead and consolidate all of your loan debt, you might end up with a situation where you’re only making one payment a month, but you would have sacrificed all of the benefits of low interest rate loans (on student debt).

There used to be a time when student loans carried a variable rate. That’s no longer the case. If you have or had a variable rate loan, switching to a fixed rate loan might make sense if the fixed loan carries a lower rate. Otherwise, keep your non-student loans and student loans separate.

Shop For Interest Rates

Like any other consolidation attempt, shop around for the lowest rate. Keep in mind that origination fees and other expenses might actually increase the total cost of the loan. You should analyze the full cost of the consolidation before automatically assuming that debt consolidation is in your best interest.

Consolidate and Conquer

Consolidating student loans can stretch out your debt repayment period. This can be a good or bad thing. If you can get a longer repayment period, it builds flexibility into the loan. However, it often tacks on several thousand dollars in interest payments. Rather than paying off the loan on schedule, use arbitrage to pay off the loan earlier than you could have prior to the consolidation. How? Simple. Consolidate the loan – this lowers your total debt payment.

Take the difference (the amount you saved via consolidation) and invest it in a very conservative investment like a bank CD, high cash value life insurance policy, a bond fund, or some other investment that is relatively stable or guaranteed to pay a specific rate of return. You’ll also want an investment capable of earning compound interest. A tax-free option, like cash value life insurance, makes accumulating a savings even easier (as long as the policy is designed for cash value growth and not for maximum death benefit coverage).

By making regular loan payments, and keeping a “side fund,” you accomplish two things. First, you start building a savings that could be used for emergency purposes. Second, you take advantage of paying simple interest on your student loans while earning compound interest on your side fund. The side fund will grow rapidly due to the nature of compound interest and eventually equal the total student loan debt amount. In this way, you are able to pay off your loan early without committing more money to the loan than you can reasonably afford to. Your investments, in effect, help pay off the loan faster than you could alone.

Shop At The Right Banks

Banks that will consolidate student loans are becoming rare. However, there are a few that still offer this service. Chase, Student Loan Network, and Wells Fargo are all great options. When shopping for consolidation, make sure you get favorable repayment options and that your contract does not include a penalty for prepayment. You want the ability to pay off your loan early, especially if you plan on using a side fund to accelerate the loan repayment.

 

Author Bio:

Guest Post contributed by Loraine Heimann who is a freelance writer after a longstanding career in finance. Find out more about the Wonga payday loans alternative.

Best Student Loan Consolidation Tips

 

Are You Afraid Of How To Tackle With Student Loans?

How To Tackle With Student Loans
How To Tackle With Student Loans

Education is getting expensive day by day and so most of the students and their parents are opting for educational loans and it might happen that they fail to repay the money and fall under default status. Although it seems very miserable from your part when you fail to repay the money, you can easily come out of the defaulted position by choosing the right and proper options.

In the US most of the people are losing jobs and are getting economically unsound. Most of the students after taking educational loans, fail to repay the money to the money lenders. What follows, is grave consequences. The loan lenders start harassing you by calling you untimely and they might even come to your doorsteps in order to collect the money.

Something about the time you required to pay  

Generally a person comes under a default position when he or she fails to pay off the money to his debt collectors within nine consecutive months or 270 days. This period is known as the delinquency period and you should pay off the money exactly in this period, otherwise you come under delinquent position. When you still cannot pay off the money within this delinquency period and the delinquency time finally exceeds, your student loan comes to a default position. You should be very careful while paying off your student loan and should never let a delinquent loan turn out to be a defaulted student loan.

Wise repayment options- to eradicate default status

Loan rehabilitation – it is a wise option. You can also come out of default position by choosing the best loan rehabilitation program and it depends on your loan status. You can seek the help of US department of education and choose the appropriate loan rehabilitation program. However, for that you need to be very aware of your loan status and everything is associated with the status of your loan that you have taken.

 

Student loan consolidation – you can even consolidate multiple student loans. If you have taken more than one loan, you need not make separate payments for that. You can merge a number of loans and the private loan lender gives you the right to pay off your loans only by making a single payment. You can easily merge two high rate loans and merge them into one single rate of interest loan and pay the money with great ease.

So, are you now pleased to know the repayment options?

Are You Afraid Of How To Tackle With Student Loans?