Asking yourself, “Why does my credit score matter?” For a lot of reasons, some of which you may not even be familiar with. You know that you need a solid credit score to get a mortgage or a car loan.

However, even if you’re not planning on getting either of those credit services in the near future — or any credit services at all — there are still reasons why you need to care about your credit score.

What Is a Credit Score?

A credit score is a way of distilling your relationship with debt down into a three-digit number. The scores run from 350 to 850 and vary based on the scoring formula.

For the most part, unless you’re actively seeking credit products, if y

our credit score is 650 and above, you won’t notice it in your day-to-day life. The problem comes in when your credit score dips below 650. Your credit score matters because the lower it goes, the more likely you are to default on debt in the eyes of creditors and lenders, and the more likely you are to receive higher interest rates on credit and loans.

Unexpected Consequences of a Low Credit Score

So, you’re not looking for a car loan, a mortgage or even a new credit card any time in the near future. Why should you care about your credit score?

• A 2012 study conducted by the Society for Human Resources Management found that 47 percent of employers used credit checks as part of their hiring process.
• Many mobile phone providers likewise run credit checks. T-Mobile estimates that fully half of all Americans don’t qualify for mobile deals advertised. In a worst-case scenario, you might be stuck with pay-as-you-go plans.
• Nearly half of all landlords report that a credit check is in the top three factors when deciding who to rent to. So a bad credit card score might keep you out of the apartment you love. Additionally, landlord 

  s might request higher deposits or up-front rent payments.

• Some car insurance underwriters charge higher rates from people who have less-than-ideal credit. According to Consumer Reports, even those with good credit could be paying hundreds more each year than those with excellent credit.
• In the event that you do need to apply for credit or loans, you may not qualify for the best available products. That could mean higher interest rates and annual fees, and fewer perks.

Raising Your Credit Score

If you’re worried about any of the above, it’s worth putting some time into raising your credit score. Some actions that can help with this include using a credit card responsibly, such as paying every bill on time every month, maintaining a relatively low credit utilization ratio, and being thoughtful about when and how many new accounts you open over time.

: https://www.discover.com/credit-cards/resources/why-does-my-credit-score-matter/

The post Cracking your credit score appeared first on Next Step Money.

If you’re a student who just landed an internship or part-time job, it’s time to think smart about money. Those paychecks will begin rolling in, and having a plan to manage your money is essential.

College is certainly the best time to begin healthy financial habits. For example, creating a budget and living within your means can have an impact on years to come.

“There are so many important decisions that college students have to make in support of the ultimate goal to become financially independent,” according to the U.S. Department of Education. “And, as tuition, books, housing and more only rise, the dream of financial independence has only become more difficult, and stressful.”

Start off on the right foot with spending and saving habits that will facilitate financial independence down the road.

Create a Financial Plan

Creating a financial plan during your college years can keep your degree debt low. Let’s face it, financial aid doesn’t even scratch the surface when it comes to your degree debt after you graduate.

Items to consider when budgeting your upcoming semesters are . . .

• Estimated tuition cost
• Fees for special classes
• Room and board (on or off campus)
• Books and supplies
• Creature comforts

You can get a good idea of each item’s cost by talking with your financial aid office. The better you budget now, the less money you need to borrow, and the bigger the impact on your loan debt later.

“Financial responsibility is one of the many skills students need if they are to be successful in college and life,” says Theresa Hitchcock, Director of Advising and Resource Center University of Southern Indiana.

Make Budget Adjustments

You are new to financial planning, and you will certainly need to make adjustments to your budget as you go. However, it is important you stick to the budget you outlined.

Your college budget is merely a learning opportunity. The first few semesters of budgeting all those college needs will be challenging. But always remember that you can make changes.

Just like everyone else in or out of college, you will face some financial firsts that will be cause for adjusting your budget. Seek advice from parents or financial aid advisors, since they have all made budget adjustments multiple times in life.

Learn to Balance Your Budget

Balancing your budget is the most difficult part of learning how to be financially independent. This is even more challenging for those in college.

“College is also synonymous with young people assuming a greater responsibility for managing their own money – away from the reliable security of mom and dad’s wallet,” according to U.S. News.

You will need to go with the flow and get crafty when it comes to spending habits. And you will be balancing your budget to fit your internship or part-time job as well.

However, when it comes to saving a sliver of those hard-earned paychecks, college students have a few advantages for spending less.

• Student discounts. You can find a variety of stores on and off campus that offer student discounts. You can save up to 20 percent in some cases just by flashing your student ID.
• Keep textbook cost low. The digital era has created several ways for you to get buy cheaper textbooks, or in some cases, get them for free. Check Amazon for discounts and ebooks. You can even make copies as you go using the textbook on file at your university library. This could save you hundreds every year.
• Make saving mobile. One way to save more is to not even see the money. You can set up an automatic deposit from your internship or part-time paycheck to your savings account.

Saving Money Can Be Habitual

If you set up a clear financial plan with a semester budget, you are on the right track to financial independence. And you may even find saving to be habitual.

After all, who doesn’t like seeing more digits in their checking or savings account?

Making a habit of saving can lower your school debt after graduation.

Or you may want to put the paychecks from your internship or part-time job toward a study abroad program to further your academic growth. And if you are studying abroad in the U.S., you will find financial independence to be liberating so far from home.

Financial independence certainly begins in college. You’re finally staking claim to your very own personal and professional growth in life.

Your decision to take on an internship or part-time job is a good indicator of future success. But make sure you spend wisely.

The post Budgeting appeared first on Next Step Money.

If you’re a student who just landed an internship or part-time job, it’s time to think smart about money. Those paychecks will begin rolling in, and having a plan to manage your money is essential.

College is certainly the best time to begin healthy financial habits. For example, creating a budget and living within your means can have an impact on years to come.

“There are so many important decisions that college students have to make in support of the ultimate goal to become financially independent,” according to the U.S. Department of Education. “And, as tuition, books, housing and more only rise, the dream of financial independence has only become more difficult, and stressful.”

Start off on the right foot with spending and saving habits that will facilitate financial independence down the road.

Create a Financial Plan

Creating a financial plan during your college years can keep your degree debt low. Let’s face it, financial aid doesn’t even scratch the surface when it comes to your degree debt after you graduate.

Items to consider when budgeting your upcoming semesters are . . .

• Estimated tuition cost
• Fees for special classes
• Room and board (on or off campus)
• Books and supplies
• Creature comforts

You can get a good idea of each item’s cost by talking with your financial aid office. The better you budget now, the less money you need to borrow, and the bigger the impact on your loan debt later.

“Financial responsibility is one of the many skills students need if they are to be successful in college and life,” says Theresa Hitchcock, Director of Advising and Resource Center

University of Southern Indiana.

Make Budget Adjustments

You are new to financial planning, and you will certainly need to make adjustments to your budget as you go. However, it is important you stick to the budget you outlined.

Your college budget is merely a learning opportunity. The first few semesters of budgeting all those college needs will be challenging. But always remember that you can make changes.

Just like everyone else in or out of college, you will face some financial firsts that will be cause for adjusting your budget. Seek advice from parents or financial aid advisors, since they have all made budget adjustments multiple times in life.

Learn to Balance Your Budget

Balancing your budget is the most difficult part of learning how to be financially independent. This is even more challenging for those in college.

“College is also synonymous with young people assuming a greater responsibility for managing their own money – away from the reliable security of mom and dad’s wallet,” according to U.S. News.

You will need to go with the flow and get crafty when it comes to spending habits. And you will be balancing your budget to fit your internship or part-time job as well.

However, when it comes to saving a sliver of those hard-earned paychecks, college students have a few advantages for spending less.

• Student discounts. You can find a variety of stores on and off campus that offer student discounts. You can save up to 20 percent in some cases just by flashing your student ID.
• Keep textbook cost low. The digital era has created several ways for you to get buy cheaper textbooks, or in some cases, get them for free. Check Amazon for discounts and ebooks. You can even make copies as you go using the textbook on file at your university library. This could save you hundreds every year.
• Make saving mobile. One way to save more is to not even see the money. You can set up an automatic deposit from your internship or part-time paycheck to your savings account.

Saving Money Can Be Habitual

If you set up a clear financial plan with a semester budget, you are on the right track to financial independence. And you may even find saving to be habitual.

After all, who doesn’t like seeing more digits in their checking or savings account?

Making a habit of saving can lower your school debt after graduation.

Or you may want to put the paychecks from your internship or part-time job toward a study abroad program to further your academic growth. And if you are studying abroad in the U.S., you will find financial independence to be liberating so far from home.

Financial independence certainly begins in college. You’re finally staking claim to your very own personal and professional growth in life.

Your decision to take on an internship or part-time job is a good indicator of future success. But make sure you spend wisely.

The post Student charitable contributions appeared first on Next Step Money.

If you’re a student who just landed an internship or part-time job, it’s time to think smart about money. Those paychecks will begin rolling in, and having a plan to manage your money is essential.

College is certainly the best time to begin healthy financial habits. For example, creating a budget and living within your means can have an impact on years to come.

“There are so many important decisions that college students have to make in support of the ultimate goal to become financially independent,” according to the U.S. Department of Education. “And, as tuition, books, housing and more only rise, the dream of financial independence has only become more difficult, and stressful.”

Start off on the right foot with spending and saving habits that will facilitate financial independence down the road.

Create a Financial Plan

Creating a financial plan during your college years can keep your degree debt low. Let’s face it, financial aid doesn’t even scratch the surface when it comes to your degree debt after you graduate.

Items to consider when budgeting your upcoming semesters are . . .

• Estimated tuition cost
• Fees for special classes
• Room and board (on or off campus)
• Books and supplies
• Creature comforts

You can get a good idea of each item’s cost by talking with your financial aid office. The better you budget now, the less money you need to borrow, and the bigger the impact on your loan debt later.

“Financial responsibility is one of the many skills students need if they are to be successful in college and life,” says Theresa Hitchcock, Director of Advising and Resource Center

University of Southern Indiana.

Make Budget Adjustments

You are new to financial planning, and you will certainly need to make adjustments to your budget as you go. However, it is important you stick to the budget you outlined.

Your college budget is merely a learning opportunity. The first few semesters of budgeting all those college needs will be challenging. But always remember that you can make changes.

Just like everyone else in or out of college, you will face some financial firsts that will be cause for adjusting your budget. Seek advice from parents or financial aid advisors, since they have all made budget adjustments multiple times in life.

Learn to Balance Your Budget

Balancing your budget is the most difficult part of learning how to be financially independent. This is even more challenging for those in college.

“College is also synonymous with young people assuming a greater responsibility for managing their own money – away from the reliable security of mom and dad’s wallet,” according to U.S. News.

You will need to go with the flow and get crafty when it comes to spending habits. And you will be balancing your budget to fit your internship or part-time job as well.

However, when it comes to saving a sliver of those hard-earned paychecks, college students have a few advantages for spending less.

• Student discounts. You can find a variety of stores on and off campus that offer student discounts. You can save up to 20 percent in some cases just by flashing your student ID.
• Keep textbook cost low. The digital era has created several ways for you to get buy cheaper textbooks, or in some cases, get them for free. Check Amazon for discounts and ebooks. You can even make copies as you go using the textbook on file at your university library. This could save you hundreds every year.
• Make saving mobile. One way to save more is to not even see the money. You can set up an automatic deposit from your internship or part-time paycheck to your savings account.

Saving Money Can Be Habitual

If you set up a clear financial plan with a semester budget, you are on the right track to financial independence. And you may even find saving to be habitual.

After all, who doesn’t like seeing more digits in their checking or savings account?

Making a habit of saving can lower your school debt after graduation.

Or you may want to put the paychecks from your internship or part-time job toward a study abroad program to further your academic growth. And if you are studying abroad in the U.S., you will find financial independence to be liberating so far from home.

Financial independence certainly begins in college. You’re finally staking claim to your very own personal and professional growth in life.

Your decision to take on an internship or part-time job is a good indicator of future success. But make sure you spend wisely.

The post What are the different type of investment options appeared first on Next Step Money.

If you’re a student who just landed an internship or part-time job, it’s time to think smart about money. Those paychecks will begin rolling in, and having a plan to manage your money is essential.

College is certainly the best time to begin healthy financial habits. For example, creating a budget and living within your means can have an impact on years to come.

“There are so many important decisions that college students have to make in support of the ultimate goal to become financially independent,” according to the U.S. Department of Education. “And, as tuition, books, housing and more only rise, the dream of financial independence has only become more difficult, and stressful.”

Start off on the right foot with spending and saving habits that will facilitate financial independence down the road.

Create a Financial Plan

Creating a financial plan during your college years can keep your degree debt low. Let’s face it, financial aid doesn’t even scratch the surface when it comes to your degree debt after you graduate.

Items to consider when budgeting your upcoming semesters are . . .

• Estimated tuition cost
• Fees for special classes
• Room and board (on or off campus)
• Books and supplies
• Creature comforts

You can get a good idea of each item’s cost by talking with your financial aid office. The better you budget now, the less money you need to borrow, and the bigger the impact on your loan debt later.

“Financial responsibility is one of the many skills students need if they are to be successful in college and life,” says Theresa Hitchcock, Director of Advising and Resource Center

University of Southern Indiana.

Make Budget Adjustments

You are new to financial planning, and you will certainly need to make adjustments to your budget as you go. However, it is important you stick to the budget you outlined.

Your college budget is merely a learning opportunity. The first few semesters of budgeting all those college needs will be challenging. But always remember that you can make changes.

Just like everyone else in or out of college, you will face some financial firsts that will be cause for adjusting your budget. Seek advice from parents or financial aid advisors, since they have all made budget adjustments multiple times in life.

Learn to Balance Your Budget

Balancing your budget is the most difficult part of learning how to be financially independent. This is even more challenging for those in college.

“College is also synonymous with young people assuming a greater responsibility for managing their own money – away from the reliable security of mom and dad’s wallet,” according to U.S. News.

You will need to go with the flow and get crafty when it comes to spending habits. And you will be balancing your budget to fit your internship or part-time job as well.

However, when it comes to saving a sliver of those hard-earned paychecks, college students have a few advantages for spending less.

• Student discounts. You can find a variety of stores on and off campus that offer student discounts. You can save up to 20 percent in some cases just by flashing your student ID.
• Keep textbook cost low. The digital era has created several ways for you to get buy cheaper textbooks, or in some cases, get them for free. Check Amazon for discounts and ebooks. You can even make copies as you go using the textbook on file at your university library. This could save you hundreds every year.
• Make saving mobile. One way to save more is to not even see the money. You can set up an automatic deposit from your internship or part-time paycheck to your savings account.

Saving Money Can Be Habitual

If you set up a clear financial plan with a semester budget, you are on the right track to financial independence. And you may even find saving to be habitual.

After all, who doesn’t like seeing more digits in their checking or savings account?

Making a habit of saving can lower your school debt after graduation.

Or you may want to put the paychecks from your internship or part-time job toward a study abroad program to further your academic growth. And if you are studying abroad in the U.S., you will find financial independence to be liberating so far from home.

Financial independence certainly begins in college. You’re finally staking claim to your very own personal and professional growth in life.

Your decision to take on an internship or part-time job is a good indicator of future success. But make sure you spend wisely.

The post Student friendly banks appeared first on Next Step Money.

If you’re a student who just landed an internship or part-time job, it’s time to think smart about money. Those paychecks will begin rolling in, and having a plan to manage your money is essential.

College is certainly the best time to begin healthy financial habits. For example, creating a budget and living within your means can have an impact on years to come.

“There are so many important decisions that college students have to make in support of the ultimate goal to become financially independent,” according to the U.S. Department of Education. “And, as tuition, books, housing and more only rise, the dream of financial independence has only become more difficult, and stressful.”

Start off on the right foot with spending and saving habits that will facilitate financial independence down the road.

Create a Financial Plan

Creating a financial plan during your college years can keep your degree debt low. Let’s face it, financial aid doesn’t even scratch the surface when it comes to your degree debt after you graduate.

Items to consider when budgeting your upcoming semesters are . . .

• Estimated tuition cost
• Fees for special classes
• Room and board (on or off campus)
• Books and supplies
• Creature comforts

You can get a good idea of each item’s cost by talking with your financial aid office. The better you budget now, the less money you need to borrow, and the bigger the impact on your loan debt later.

“Financial responsibility is one of the many skills students need if they are to be successful in college and life,” says Theresa Hitchcock, Director of Advising and Resource Center

University of Southern Indiana.

Make Budget Adjustments

You are new to financial planning, and you will certainly need to make adjustments to your budget as you go. However, it is important you stick to the budget you outlined.

Your college budget is merely a learning opportunity. The first few semesters of budgeting all those college needs will be challenging. But always remember that you can make changes.

Just like everyone else in or out of college, you will face some financial firsts that will be cause for adjusting your budget. Seek advice from parents or financial aid advisors, since they have all made budget adjustments multiple times in life.

Learn to Balance Your Budget

Balancing your budget is the most difficult part of learning how to be financially independent. This is even more challenging for those in college.

“College is also synonymous with young people assuming a greater responsibility for managing their own money – away from the reliable security of mom and dad’s wallet,” according to U.S. News.

You will need to go with the flow and get crafty when it comes to spending habits. And you will be balancing your budget to fit your internship or part-time job as well.

However, when it comes to saving a sliver of those hard-earned paychecks, college students have a few advantages for spending less.

• Student discounts. You can find a variety of stores on and off campus that offer student discounts. You can save up to 20 percent in some cases just by flashing your student ID.
• Keep textbook cost low. The digital era has created several ways for you to get buy cheaper textbooks, or in some cases, get them for free. Check Amazon for discounts and ebooks. You can even make copies as you go using the textbook on file at your university library. This could save you hundreds every year.
• Make saving mobile. One way to save more is to not even see the money. You can set up an automatic deposit from your internship or part-time paycheck to your savings account.

Saving Money Can Be Habitual

If you set up a clear financial plan with a semester budget, you are on the right track to financial independence. And you may even find saving to be habitual.

After all, who doesn’t like seeing more digits in their checking or savings account?

Making a habit of saving can lower your school debt after graduation.

Or you may want to put the paychecks from your internship or part-time job toward a study abroad program to further your academic growth. And if you are studying abroad in the U.S., you will find financial independence to be liberating so far from home.

Financial independence certainly begins in college. You’re finally staking claim to your very own personal and professional growth in life.

Your decision to take on an internship or part-time job is a good indicator of future success. But make sure you spend wisely.

The post How to create an easy budget appeared first on Next Step Money.

If you’re a student who just landed an internship or part-time job, it’s time to think smart about money. Those paychecks will begin rolling in, and having a plan to manage your money is essential.

College is certainly the best time to begin healthy financial habits. For example, creating a budget and living within your means can have an impact on years to come.

“There are so many important decisions that college students have to make in support of the ultimate goal to become financially independent,” according to the U.S. Department of Education. “And, as tuition, books, housing and more only rise, the dream of financial independence has only become more difficult, and stressful.”

Start off on the right foot with spending and saving habits that will facilitate financial independence down the road.

Create a Financial Plan

Creating a financial plan during your college years can keep your degree debt low. Let’s face it, financial aid doesn’t even scratch the surface when it comes to your degree debt after you graduate.

Items to consider when budgeting your upcoming semesters are . . .

• Estimated tuition cost
• Fees for special classes
• Room and board (on or off campus)
• Books and supplies
• Creature comforts

You can get a good idea of each item’s cost by talking with your financial aid office. The better you budget now, the less money you need to borrow, and the bigger the impact on your loan debt later.

“Financial responsibility is one of the many skills students need if they are to be successful in college and life,” says Theresa Hitchcock, Director of Advising and Resource Center

University of Southern Indiana.

Make Budget Adjustments

You are new to financial planning, and you will certainly need to make adjustments to your budget as you go. However, it is important you stick to the budget you outlined.

Your college budget is merely a learning opportunity. The first few semesters of budgeting all those college needs will be challenging. But always remember that you can make changes.

Just like everyone else in or out of college, you will face some financial firsts that will be cause for adjusting your budget. Seek advice from parents or financial aid advisors, since they have all made budget adjustments multiple times in life.

Learn to Balance Your Budget

Balancing your budget is the most difficult part of learning how to be financially independent. This is even more challenging for those in college.

“College is also synonymous with young people assuming a greater responsibility for managing their own money – away from the reliable security of mom and dad’s wallet,” according to U.S. News.

You will need to go with the flow and get crafty when it comes to spending habits. And you will be balancing your budget to fit your internship or part-time job as well.

However, when it comes to saving a sliver of those hard-earned paychecks, college students have a few advantages for spending less.

• Student discounts. You can find a variety of stores on and off campus that offer student discounts. You can save up to 20 percent in some cases just by flashing your student ID.
• Keep textbook cost low. The digital era has created several ways for you to get buy cheaper textbooks, or in some cases, get them for free. Check Amazon for discounts and ebooks. You can even make copies as you go using the textbook on file at your university library. This could save you hundreds every year.
• Make saving mobile. One way to save more is to not even see the money. You can set up an automatic deposit from your internship or part-time paycheck to your savings account.

Saving Money Can Be Habitual

If you set up a clear financial plan with a semester budget, you are on the right track to financial independence. And you may even find saving to be habitual.

After all, who doesn’t like seeing more digits in their checking or savings account?

Making a habit of saving can lower your school debt after graduation.

Or you may want to put the paychecks from your internship or part-time job toward a study abroad program to further your academic growth. And if you are studying abroad in the U.S., you will find financial independence to be liberating so far from home.

Financial independence certainly begins in college. You’re finally staking claim to your very own personal and professional growth in life.

Your decision to take on an internship or part-time job is a good indicator of future success. But make sure you spend wisely.

The post Manage Money appeared first on Next Step Money.