With 2 out of 3 college students sporting credit cards nowadays, credit cards have become almost as popular as denim and mullets in the 80s.  With such widespread usage, credit cards are now a staple of the American college process.  And despite the perils of credit cards, their function greatly outweighs the associated risks for students who use them properly.  However, college students have a hard enough time remembering to shower, let alone being able to keep up with card balances.

University students, thank Al Gore for that internet thing.  Even if you don’t believe Al Gore invented the internet (he didn’t, but then again, Brazil still thinks airplanes were invented there), you can still use it for your financial benefit.

No, I’m not talking about one of those highly-lucrative e-mail offers to work from home; you know, those offers that guarantee to change your life by providing thousands of dollars of additional income by having you sit in your underwear.  What I’m referring to is the fact that online credit card account access can make it much easier for a college student to keep track of finances. 

I’m well aware that laptops in the classroom are often used for purposes that are less than productive (facebook or addictinggames.com anyone?).  But even if you’re not paying attention in class, online credit card account access can allow you to check your balance and pay bills while you attempt to listen to another round of chlorophyll, more like borophyll.  You can even setup automatic bill payments.  Doing so can help you spend more time thinking about other things, like the hottie 2 seats up and 1 to the left.

With online account access, it’s also a good idea to look over your statements (it’s not a bad idea to look over paper statements if you receive those too).  An online account allows you to see transactions as soon as possible.  This can help you keep an eye out for suspicious purchases, like a 500 dollar order from Adult World heading to Bangkok.   

Next time you’re in class, wandering from your PowerPoint notes, make a quick check on your credit account.  Constant reminders about how much you’re spending can help to quell unnecessary purchases.  Even better, when the prof catches you in a daydream, “I’m sorry, I was just building my credit by making sure the 200 dollar payment for this course’s book was received,” sounds better than, “Uhhhhhhhh.”  Actually, I take that back.   ”Uhhhhhhhh, chlorophyll?” might be safer.

While dorm life does have its own special charm and appeal, many students choose to move out of the residence halls at some point.  Don’t get me wrong, my old dorm (and I literally mean old), with its 10×13 cells, will always have a special place in my heart.  Fifty guys with little ambition to do work and way too much creativity led to some exciting times (maybe too exciting, if possible).  However, most students eventually try to opt for a little more privacy (yes, everyone was aware of every person’s bad decisions) and space (I can still identify every roommate I’ve had by scent).  Also, don’t forget freedom from those sometimes pesky Residence Assistants.

Even though some students may envision an unparalleled life of fun and excitement once having his or her own place out of university housing, the task of just finding somewhere to live can be enough to make many students question the decision to ditch the dorm life.

Apartments close to campus can command rates comparable to prime city housing.  Additionally, student apartments are often not quite as nice as one would expect for the dough they cost to rent.  Landlords who specialize in student housing often expect their tenants to keep a house that is a little bit less clean than Danny Tanner’s.    This doesn’t mean that landlords don’t take care of their properties, but don’t expect to get marble floors when paying marble floor-worthy rental rates.

Also, students need to be careful to check how moving out of university housing may impact financial aid.  You may pay only 700 dollars a month, but if you have to give up a few grand in scholarship money, the bill for the freedom to host parties may be much steeper than expected.

Money is not the only issue to consider when hunting for a student apartment.  Make sure to check into what your landlord is like.  A few of my friends rented a trailer from a guy known to be the “local slumlord.”  The place looked decent at first, but after a few months, a leak in the ceiling spawned an ecosystem on the sunroom ceiling and a foot deep sinkhole appeared in the living room carpet.  The hassle to get these things fixed wasn’t worth the effort.  To make matters worse, the landlord thought my friends had moved out early, then gave some of the fishing and golfing gear left in a closet to his kids.  Lesson: if your landlord is often referred to as the “slumlord of _______,” do not rent.

Be wary of the OCD landlord as well.  I slept on a friend’s couch one weekend only to wake-up to his landlord washing the window 3 feet in front of my face at 7 on a Saturday morning.  Also, no one wants to deal with being accused of moving community porch furniture 3 inches from its original position.  Shoot for a landlord that is neither Adrian Monk nor found on NYC’s Worst Landlords site.

Best of luck with any apartment search.  While finding the right match of apartment, price, and landlord can be an adventure, the right combo can lead to a great college experience.  Even if you can’t score the best of all worlds, you’ll likely end up with an interesting tale at the very least. 

The sky is falling?  Or is it?  I can tell you that the actual sky isn’t falling (at least as far as I know).  However, the current economic picture is strewn with colors of doom and gloom.  With pundits and politicians making statements saying that we could be moving toward another Great Depression, people are wondering how they can prepare for the future.    

However, it’s tough to prepare when we don’t quite know what the future holds.  Will the economy collapse?  Will it stabilize?  Will it grow?  Will Ralph Nader be the next president?  I’m willing to place bets on one of those questions more so than the others, but unfortunately, the questions I (and everyone else) am less sure of are the more important ones.

Rather than continue on this morose tangent, let’s say to ourselves, “gray skies are gonna clear up, put on a happy face.”  While there may be many negatives due to the current state of the economy (lending freeze out, retirement package fallouts, weak job market, etc.), for those who have money stashed away (and the money is surviving the turbulent stock market ride), now may be the time to find a bargain in the housing market.

Unfortunately, only those with fantastic credit will be able to easily obtain a mortgage.  Why is this so?  Because the last time banks were lending money to everyone and their bankrupt grandmother, we had a housing crisis/stock crisis/banking crisis/trying to remember the current crises crisis. 

My recommendation: keep on as happy a face as possible and save for a rainy day.  Last time Americans really learned how to save was around 1929.  So get an early jump on things and don’t wait til’ the bottom falls out in order to learn the value of saving a few bucks.  And even though the mattress may appear safe to keep wads of cash under (there’s still plenty of people from 1929 who bank at Serta Financial), check out all your low risk options (CDs, bonds, checking accounts, etc.).  Because while a falling sky hasn’t occurred (to my knowledge), house fires, tornados, burglars, and peeing the bed have been known happen.  However, I suppose you need to have a home in order have the luxury of worrying about such things.       

Students attend college for a variety of reasons; but be it for an education, to make more money, or to party down, college tends not to be cheap.  Yea, there are plenty of ways to cut costs at college, and I’ve tossed around a lot of those ideas in the past, but a lot of cost cutters come at a price: the price of fun.  When you work all day, it’s nice to be able to play all night, but excitement can come with a financial and educational price tag.

So, how can you save money while also creating more free time outside of the library?  The solution is called CLEP.  The College-Level Examination Program (aka CLEP) is a way to quickly earn college credit at a fraction of normal tuition costs.  All you need to do is register to take a CLEP exam and meet your school’s necessary passing score. 

Sounds easy?  Well it is for the most part.  Schools typically don’t allow students to CLEP out of core major courses or most courses above the introductory level.  But depending on your school, there may be more than a year’s worth of courses for which you can receive credit by CLEPping. 

A CLEP exam costs only $70.  Compare that to what a normal 3 credit course can cost (into the thousands at some private schools).  Let’s do the math…$2,100 for 3 credits - $70 for a CLEP exam = $2,030 to put towards other bills, entertainment, or savings. 

Granted, CLEPping out of a class is no guarantee.  It’s like taking a final for a course you’ve never formally taken (I know, because I’ve CLEPped my fair share of credits).  A decent amount of studying is involved, but compared to 3 hours a week of class for 15 weeks, plus homework?  Not so bad.

More money and more time?  What’s not to love?  And if you’re really ambitious, you can even use CLEP to help make space for a minor or another major.  It’s not often something so grand presents itself.  I highly recommend taking a look into this golden opportunity because who doesn’t want more time or money?