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re: Credit Rating
Posted on 11/1/11 at 9:25 am to TheHiddenFlask
Posted on 11/1/11 at 9:25 am to TheHiddenFlask
The only real downside IMO is the risk of making a late payment or overcharging in terms of the debt-to-credit ratio on the card itself
If he can handle some piddly card with like a $500 balance on the reg, his score will begin to climb (or exist) in a few months
If he can handle some piddly card with like a $500 balance on the reg, his score will begin to climb (or exist) in a few months
0
Posted on 11/3/11 at 10:17 pm to LSUAfro
quote:
Oh Really? Fact?
$6,000/year tuition/books(@ LSU which is considerably cheaper than many schools)
$4,800/year rent($400/month seems fair)
$600/year bills(electric,cable,water split 3 ways)
$1,500/year car insurance(seems fair for a 20 year old. Mine was actually more)
$1,500/year gas($30/week)
$2,400/year car note($200 month for a cheapy somewhat reliable and the fact that you have to pay 12% interest because you have NO CREDIT)
So, you're at $16,800 before you've even fed yourself or had a drop of booze. These numbers could be a little lower or could be a little higher depending on your "want" level, but they're probably pretty close to average yearly expenses for a college student.
You'd have to have a pretty damn good 20-30 hour/week job to be completely self-supporting, have even a remote bit of fun in college, and eat better than ramen noodles nightly. And, god forbid you have to buy new tires or your car breaks down. Just run out back to your money tree and take care of that.
Obviously you didn't have to go through this situation.
My brother is going to LSU, his rent is 400 with utilities (of course he has roommates) He also has a 6k car he paid cash for. SO 13,800 bucks?
BTW - no one said you had to finish in 4 years - this entitlement thing is getting ridiculous...We have to go to LSU AND WE must go into debt and finish in 4 years....instead of working and finishing in 6 b/c at 24 years old your life is over.
SO $13,800 without food huh - SO say 5,200 a year on food...19,000 a year?
so 91 bucks a day 4 days a week? It can be done.
You can make that waiting tables or working as a bartender.
Oh, FYI - You're right, I didn't go through this, I had 2 jobs.
This post was edited on 11/3/11 at 10:19 pm
Posted on 11/4/11 at 8:18 am to Gutterman81
quote:
BTW - no one said you had to finish in 4 years - this entitlement thing is getting ridiculous.
Neither did I. Reading comprehension. Look in to it.
quote:Hopefully you don't want to splurge...ever. Hopefully you don't have to replace a transmission or install a new clutch or buy 4 new tires
so 91 bucks a day 4 days a week? It can be done
Come on man...you're envisioning best case scenario. It would just be stupid to have a line of credit to borrow from in case of an emergency on such a tight budget...what was I thinking 
quote:
Oh, FYI - You're right, I didn't go through this, I had 2 jobs.
Cause you awesome
And LSU is one of the cheapest state colleges. For many people that want the best for themselves, they will pay way more than that in yearly college expenses.
Keep living in fantasy land where everything works out like it's supposed to.
Posted on 11/4/11 at 9:38 am to Gutterman81
quote:This will result in good grades I am sure
working as a bartender.
Posted on 11/4/11 at 5:52 pm to LSUAfro
quote:
Neither did I. Reading comprehension. Look in to it.
You mad?
You're right on all accounts. Debt is the only option. I don't know what I was thinking.
Posted on 11/8/11 at 7:59 am to LSUAfro
quote:
Keep living in fantasy land where everything works out like it's supposed to.
I just graduated from fantasy land. The hope scholarship in GA works wonders.
Posted on 11/9/11 at 1:27 am to Gutterman81
There is nothing wrong with people getting credit cards, especially to raise their FICO score.
If you are not above 700 or so its really hard to get good rates on anything. Even with a 500 you can get a card, but you would have 23% interest or so. But if you use the card and pay the balance in full before the cycle the interest never hits.
I just think its silly that the average person can make it through school and rent and all without loans. I mean it can be done, but working two jobs and full time school would probably affect your GPA.
If you are not above 700 or so its really hard to get good rates on anything. Even with a 500 you can get a card, but you would have 23% interest or so. But if you use the card and pay the balance in full before the cycle the interest never hits.
I just think its silly that the average person can make it through school and rent and all without loans. I mean it can be done, but working two jobs and full time school would probably affect your GPA.
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