Financial Tips for Students on Valentine s Day

Holiday months can be full of fun and celebrations. The month of December has been filled with a lot of holidays like Christmas, Thanksgiving, and New Year. As 2012 enters in, many people are gearing up for another celebration, especially young people and students. Yes, Valentine’s Day can be an exciting day for many youngsters but it can also be a debt magnet for some.

On this post, we present tips on how you can get through Valentine’s Day without falling into the debt trap:

Don’t be compelled to spend. Do you feel like the day will be lonely if you don’t have money to spend? If you do, it’s about time that you change your outlook and think about the things you can enjoy without spending a fortune.

Don’t get into debt for the sake of celebration. Are you thinking of borrowing money to buy gift for that special someone? If you own a credit card, do you plan to charge that purchase to your credit and pay it back at a later time? If you presently don’t have cash to purchase, don’t get yourself into debt just for the sake of Valentine’s Day. Instead, find other ways to show your loved one that you care, without having to use your credit card.

The day can still be meaningful and memorable even with the absence of an expensive gift or an extravagant dinner date. What you need is imagination and creativity to work out plan to show your special someone how much they mean to you.

Plan credit card repayment. If you decide to use your student credit card to buy a gift anyways, you are free to do so. However, see to it that you will be able to pay off your full balance on or before your credit card’s due date. Thus, you don’t have to pay the extra interest rate fees or late penalty fees. More importantly, you can save yourself from the risk of debt build-up and protect your credit score.

Save up for Valentine’s Day. It’s still another month before Valentine’s Day and that’s more than 30 days to save money. If you can set aside at least $5 from your daily allowance, you will have at least $150 in your savings by the end of January, enough to buy that gift you want for your special someone.

Plan ahead. What would you like to give for your special someone on Valentine’s Day? If you plan to create something special, you will have plenty of time to finish it before Valentine’s Day comes. On the other hand, if you want to buy something, you will have more time to shop around and compare prices.

Are you planning to surprise your loved one with a romantic dinner? Even a candle light dinner by the garden can become amazing with the right plan and preparation. If you start putting together your ideas right now, you can surely make it extra wonderful.

 

About the Author:
Samantha Wilson is a consultant for credit cards for students. For years she has written student credit card reviews articles that would help build student credits.

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