Dave Ramsey Supports My Thoughts About College Planning
August 28, 2009 by Erik Folgate
Filed under College
I recently wrote about an article discussing college planning and paying for your kid’s college education. This can become a heated debate. I completely agree with Ramsey’s stance on this subject. If your kids are young, you have a lot of time to plan for college. Why not start today?
Kids And Money: Should Your Kid Apply For A Credit Card While In College?
August 18, 2009 by Erik Folgate
Filed under College, Credit and Debt
Many parents will be sending their kids off to college in the coming weeks, and the issue of credit cards always comes up. Parents don’t want their kids to be high and dry if they need an emergency car repair or have a medical issue. For many college freshman, it is a rite of passage to apply for their first credit card and swipe the card for the first time. It makes them feel like a responsible adult, because they are using credit. This is a load of garbage, and it’s exactly what credit card companies want young people to think. Credit card companies have done a superb job at making credit cards feel like a status symbol. That’s why they use words like “gold” and “platinum”.
How To Save Money On Dorm Furniture For A College Freshman
August 17, 2009 by Erik Folgate
Filed under College, Spending and Saving
Universities across the country will be filling up their dorms and surrounding apartment complexes from now until the next three weeks. I remember my first experience going away to school. I didn’t have much, because my dorm was about the size of a medium sized bedroom, and I shared it with one other guy. I brought a computer, bedding, clothes, and a chair. We already had a bed and desk provided to us. However, many large universities don’t have enough dorms to house all of their college freshman, so some freshman need to look for alternative off-campus housing. For these freshman, the cost to go away to school rises even further, because now you need to furnish an entire apartment. If your buying furniture for your kid, make sure you don’t go overboard buying furniture that is too nice for the space it will be in. When you’re looking for dorm/apartment furniture, look for utility. Here are a few places to start looking to find quality furniture at cheap prices.
How To Save Money Buying A Laptop For A College Freshman
August 17, 2009 by Erik Folgate
Filed under College
All universities and colleges have followed suit with the rapid growth in internet technology over the past ten years, and it is now essential for college students to have a good computer for school. Laptops are the computer of choice with college students, because they’re portable and pack enough features to help them with whatever needs to be done for school. This will be one of the bigger expenses you will face if your sending your child off to college in the next couple of weeks, and it’s important that you get them a laptop that meets their needs without breaking your checking account.
Should You Pay For Your Child To Go To College?
July 29, 2009 by Erik Folgate
Filed under College, Investing, Spending and Saving
Answering the questions of “should I pay for my child to go to college?” is a daunting task, but it should always be dictated by your personal and financial situation. Did you set up a college savings fund for your child when they were a baby? Did you not save a dime for your child’s education? Are the grandparents going to help with paying for college? The answer to these questions will help determine where your child should be attending college and if you’ll be paying for it. The decision brings with it a lot of emotions on your part and the part of the child. Your child will have their mind made up about where they want to go, but if you’re paying for it, you have the final say. Here are a few things to consider.
College Savings Tip: Live Without A Car
August 15, 2008 by Erik Folgate
Filed under Budgeting, Cars, College
This might sound crazy to some of you, but I knew plenty of people who made it happen. The only drawback this is that it makes it tough to hold a job during college. I think all college students should working during their college career, but many jobs are either on campus or right around the corner. My senior year, I worked as a computer technician on campus, and I lived five blocks from campus. I drove my bike to work every day. Here are five reasons why living without a car can save you some significant cash.
College Savings Tip: Set Up An Automatic Savings Plan
August 14, 2008 by Erik Folgate
Filed under Budgeting, College, Spending and Saving
I recommend the ING Direct Orange Savings account for college students. It earns 3.0% interest, and you can set up an automatic savings plan.
My biggest problem in college was that I had no cash cushion when something went wrong. When my car broke down, it went on a credit card. When I needed a security deposit for an apartment, cash advance on a credit card. My parents helped me a little bit with finances, but not with big expenses. And I suspect that many of you are in the same situation. In order to keep yourself from using your credit card as an emergency fund, set up an online savings account to automatically take out $25 dollars a week for your emergency fund. Then, when the worst happens, you’ll be prepared for it.
College Savings Tips: Buy Used Text Books
August 13, 2008 by Erik Folgate
Filed under Books, Budgeting, College, Spending and Saving
Many college students will be going back to school soon, so I decided to put together a series of savings tips for college students. Many of the tips that I share are ones that I used myself while I was in college. One of the largest expenses for college students other than rent and tuition, are the dreaded textbooks. The amount that publishers charge for textbooks is criminal. Plus, some of them package a textbook with the workbook and practice tests, so you are forced to buy the entire package or nothing at all. It’s sick, and college students know it. Here’s what you can do.
Investing In A Child’s College Fund Versus Paying Off Your Mortgage
October 23, 2007 by Erik Folgate
Filed under Budgeting, College, Investing
If you have young children and a house, you may have faced the dilemma of whether to pay off more money on your mortgage or start putting money towards a college tuition fund for your children. So, what’s the right answer? Well, every answer is different given someone’s situation. Here are some things to consider:
- First off, evaluate how many kids your going to be putting through college and how much time you have to build up cash for college. If you’ve got teenagers, then you’ll have to start saving yesterday for college.
The 11 Principles Series: Paying For Education with Cash
July 2, 2007 by Erik Folgate
Filed under College, Spending and Saving
Pay for your college education with cash. That sentence sounds so simple, but it is one of the toughest things to do in the 21st century. College tuition continues to rise, the cost of living continues to rise, and the demand to have that magical piece of paper called a degree continues to be more important. I will be honest from the beginning, I currently carry student loans. So this is not an article to preach to you all about paying cash for your education. I understand if you take out a loan. Most of my loans were taken in the first year and a half of my college degree, because I made the wrong decision of going to a private school that I could not afford. I realized that I was doing, quickly withdrew, and enrolled in a community college to finish my A.A. This is a challenge. I am challenging you to make a goal to pay cash for your education and your child’s education if you plan far enough ahead. I’m challenging you because I know you’ll thank me later on in life.
