Holiday debt is piled high, books need to be bought and school fees are due, but for some students who have accrued early debt paying it off is possible.
According to Delynn Daniels, First South Credit Union's marketing director, it is as simple as being financially realistic.
When it comes to credit card debt, Daniels suggests paying off the cards with the highest interest rate first. She also advises developing a plan allowing a reasonable amount of time for paying them off.
"Make a budget you can live with and then do your best to live within it," Daniels said.
Budgets should include necessities, savings and entertainment. Travel expenses for trips such as spring break, graduation celebrations or trips home, should also be a factor when calculating how much to save.
"Start small. Do what you can, no more, no less," Daniels said. "You would be surprised how fast $10 a week stacks up."
Through careful budgeting and always tracking debit card expenditures, the best advice Daniels has is to always plan ahead.
Students' financial intentions and expectations of themselves are high for 2006.
Jocelyn Curry, a junior international business major, said that the financial steps she is taking for the new year are "saving my money and watching my spending."
So is Sarah Kinnon, a senior social work major.
"I am planning my budget for my books and then everything else is going into a savings account so I can save up for other things and still have some money put aside for going out," she said.
Shereva Vaughn, a sophomore public relations major, is allowing her spiritual beliefs and principles to help her manage her finances as well as "sacrificing things that I don't need."
Knowing how to monitor your finances safely and keeping money protected is also important.
Daniels highly recommends that students utilize online banking, especially e-statements (electronic bank statements) instead of paper statements sent through the mail. She strongly cautions students on keeping information as private as possible especially when living in the dorms.
"Don't let your statements come to your dorms," she said, knowing how little privacy one has in a dorm room.
