Credit Cards Are Not Magic and Other Money Management Tips


June 23, 2011
by Radha Jhatakia

Managing money is difficult for many people, not just college students! I’ve been taught to save every penny and paying for school myself has been the biggest reason but friends of mine who haven’t struggled as much don’t have the same outlook. For them, credit cards are magic and their parents are instant money taps.

Managing money is difficult for many people, not just college students! I’ve been taught to save every penny and paying for school myself has been the biggest reason but friends of mine who haven’t struggled as much don’t have the same outlook. For them, credit cards are magic and their parents are instant money taps.

My best friend is the reason I’m writing this article. She struggles with money but I don’t understand why. She’s been working since she was 16, her parents pay for school and bought her a car yet she doesn’t have a single dime saved! Ever hear the phrase “A penny saved is a penny earned?” I’m guessing she hasn’t but it’s true. Gaining a dollar doesn’t mean you have to spend it because in the future, you may not have that dollar. Here are a few more tips:

Having bad credit now may not matter to you but it will affect you in the future when you apply for home loans and car insurance. Be wise, spend wise and look up the rule of 72.

Radha Jhatakia is a communications major who will be transferring to San Jose State University this fall. She’s had some ups and downs in school and many obstacles to face; these challenges – plus support from family, friends and cat – have only made Radha stronger and have given her the experience to help others with the same issues. In her spare time, she enjoys writing, reading, cooking, sewing and designing. A social butterfly, Radha hopes to work in public relations and marketing upon graduation.

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