Credit Card And Finance News

Graduates entering the full-time job market during the economic downturn need to learn to budget, according the Times Money.

The publication has warned that graduates will be "carrying a huge amount of debt" and listed points of recommendation to help them cope during one of the "worst economic slumps in years".

It advises graduates to pay off expensive debts first and leave the student loan payments, as the 3.8 per cent interest rate makes it "the cheapest loan" that can be received.

Mark Dampier from independent financial adviser Hargreaves Landsdown, told the newspaper: "Too much debt will only lead to major heartache.

"Draw out the money you need for the week and if you run out a day or two before the end, don't go out."

The Times Money also recommended sharing accommodation, using overdrafts and using cheap listings websites to find furniture as methods of saving money.

A recent survey by GE Money found that 11 per cent of students have "no idea" of their financial position.

To read reviews and compare the latest car insurance offers available click here for the best student credit card deals.

Delicious

Digg

reddit

Facebook

StumbleUpon

Are credit card providers rejecting more applications
On 01-Dec-2008 under Credit Cards
With the credit crunch taking hold - there has inevitably been talk of credit card providers tightening their lending criteria. Credit card companies seem to be more reluctant to loan people money, an read more...

Do students use credit cards wisely
On 04-Nov-2008 under Credit Cards
Students have always been perceived as a group that struggles to make ends meet, paying fees, rent and food without having regular incomes. It’s no surprise therefore that some students look far read more...

40 credit cards offer 0% on transfers
On 18-Jun-2008 under Credit Cards
There are now 40 credit cards on the market that offer zero per cent balance transfers, new research suggests.Students who like to look for the best deals when choosing a credit card could be interest read more...