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Debt’s a lot like the smoke monster from Lost. If you neglect it, it’ll grab you by the legs and shake you down like a Polaroid picture. Well, we’re here to help you “get off the island,” and contrary to popular belief it doesn’t have to be as complicated as the plot from “Lost.”

Building and Maintaining Credit

By Christine Margiotta
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Quick Tips
  1. Know your score – High credit qualifies you for lower interest rates, so having good credit ends up saving you a lot of money in the long run. Find out what your score is from a major credit bureau.
  2. Never pay late – It's best to pay your bills as soon as you get them. You don't want to risk a late payment. If you can't pay them off in full, make sure you pay off the minimum balance. Frequent late payments will screw your credit score.
  3. Be responsible – Establishing good credit boils down to taking responsibility for your bills. Keep your credit card balances below 35% of the total credit available, and always pay your bills in full on the same day you get them in the mail if you can.
  4. Be proactive – If you have a small source of income, do everything you can to give yourself an edge: ask companies to change the due-dates for payments, pay all your bills online, and contact a credit counselor who can help you review your finances.
  5. When it hits the Fan – Exhaust all the options available to you and DON'T RUN UP MORE DEBT. Apply for more credit cards with lower interest rates and opt for debt consolidation. You don't want to resort to debt management, or worse, bankruptcy.

Credit is one of those nebulous things that lurks in the background of our lives like recessive cancer genes—unseen, unknown, and ready to wreak havoc on our futures if we slip just once. What is credit? Basically, credit refers to your ability to pay people back if you borrow their money (i.e. a credit card) or buy something

How Would the Bailout Affect You?

By Christopher Schonberger
10/02/08
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Last night, the Senate endorsed an amended version of the $700 trillion economic bailout plan, putting the pressure on the House to pass it by the end of the week. But how will it affect you, the recent grad?

Private Debt Consolidation and Debt Forgiveness

By Stuart Schultz
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Pre-paying all your loans, consolidating through the government, and fleeing the country are not the only ways to deal with your debt. You can also ask your parents to handle it!

The Pros and Cons of Prepaid Debit

By Keshav Singh
9/11/08
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If you’re still in college, you may notice fewer credit card companies offering you free Nalgenes if you sign up for some plastic. That’s because college are cracking down on credit-card marketing on campus to curb the trend of students graduating with massive debt.

Top Ten Most Absurd Credit Cards

By Christopher Schonberger
8/28/08
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When you’re a recent grad with a miniscule income, a sublet apartment, and no bills in your name, convincing credit card companies to throw you a bone isn’t always easy. Combine those stacked odds with the fact that it takes an advanced

Money Saving Tricks

By Chris Zoia
8/06/08
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The reason why saving money is so difficult is because it usually involves convincing yourself you don't want things you actually do want and telling yourself that, no, you didn't "earn" a Starbucks latte by waking up on time for work.

Gimme Gimme More

By Dan Marley
7/29/08
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Boomerangers. Millenials. Kidults. Generation Debt—these are just some of the terms used to describe us twentysomethings. Why? Because we rack up crazy student debt, head back home after college, move to expensive cities even though we have horrible salaries

Federal Student Debt Interest Rates Slashed by 50% Today

By Rachel Solomon
7/01/08
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With gas prices, unemployment, and inflation all on the rise, recent graduates could really use a financial break. Well, today’s the day. Thanks to the economy’s Lohan-like bender, the interest rate for federal student loans plummets today, July 1st, from a weighty 6.62% to a wispy 3.62%

The Pros and Cons of Grad School

By
9/16/08
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As I prepare to graduate with my Masters in philosophy this coming Friday, I am reminded of a recent image:

10 Myths About Life After College

By Gradspot Dot Com
6/02/08
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Our guest blogger today is Kristen Fischer, author of Ramen Noodles, Rent, and Resumes: An After College Guide to Life

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