financial problems
 

Hey everyone, hope someone can help. I am in my second to last semester before I graduate. Between having unpaid dues and other college debt such as loans, Im starting to get a little bit worried about my financial situation. I hate to think of myself as the only one with this problem. I had a great college experience but as the end draws near, my future awaits me with tons of debt. Is anyone else in the same boat, and any ideas as how you are going to get out of it? Thanks

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You Bet!!!
 

First thing is not to get discouraged! The money thing is tough whether you're in school and out. People generally live outside of their means which is where excess debt comes from.

As far as dues. Are these chapter dues? Ask the FVP if you can set up a payment plan. If you can give, say, $15 a week versus $60 in a lump sum per month might be easier. It is easier to remind yourself not to go out to eat that extra time the week the $15 is due rather than scrapping it together at the end of the month. Also, bypass on some non-essential sorority purchases if you can. It might be hard since you are almost finished with school, but think of it this way....all those shirt you think are so cute don't get worn as much when you are out of school. Instead take lots of pictures. They are cheaper than shirts and you can develop them as you have some extra cash.

Student loans! Most of us have them. If you don't you either worked very hard to pay as you went, were lucky enough to have a scholarship, or were very fortunate that someone saved for you or paid for you to have that experience. Remember the first 6 months after graduation your (federal) loans are still in forebearence (sp). This allows you to get a job, save a little, and set up your repayment plan. Plus there are a few different repayment options that will work with you. Best thing to do is call the student loan people and find out what's best for you. Also consider consolidating.

If you have other little loans for credit cards, etc. Make it a point to concentrate on putting your extra dollars to paying them off. It could take a while, but it will be worth it in the end! You may not be able to do this until after graduation, but develop a plan. Even now my dad and I have a bet of who can pay their cards off and cut them up first! I am down to one card from 4....he still has a few! Our incentive was a great dinner for the person who is debt-free first! Make it a game that so you can celebrate your small victories!

Ok, back to work....

Can you afford your dues through the end of the year? If not, why? You may want to get a part-time job to help you cover expenses. Your chapter treasurer will also be happy to work with you on a payment plan, as mentioned by the above poster. Request this in writing, and cc her adviser. Unless there has been some unforseen emergency, I recommend you pursue all avenues to pay your dues and make a big effort to come around to chapter events this final semester. Collegiate membership is a once-in-a-lifetime experience-- enjoy it now!

Second, not all of us get a free ride through college. Many of us pay our own way with part time jobs, student loans and scholarships. Debt is part of life. I understand where you're coming from! It can be really overwhelming. Graduation and post-grad are going to be a big change from school-- school is something you have been doing practically your entire life. Change can be a little scary.

I highly recommend Suze Orman's book Young, Broke and Fabulous-- it's a must-read for 20 and 30-somethings... Great tips on debt, career, purchasing a car (and eventually a home, retirement savings, all those questions you may be worrying about!). I picked it up a few months ago and it's a great read. Similiar to the advice your parents may be giving you, but a little more realistic. (No, I'm not a paid endorser of thise book! It just helped me a lot!)

Third, talk to your parents and friends about your fears. You are not alone! You may also find keep a blog or written journal helps you to express your fears and concerns--- getting them out of your head and helping you to not worry as much.

Good luck and keep us posted.

Hehe. I was going to recommend the same thing. One of our close family friends has been having debt problems after graduating from college, and she said that the book helped her a lot. She gave it to me for a graduation present :)

Being broke sucks for sure!:(

What you need to do first is cut up credit cards, keep one for emergency only! "That is Emergency" only.;) Get a part time Job, it is not belittleing at all. Keep Money in envelopes destignated for certain payments weekly and leave it alone!:)

So, when payments come due, it may be easier to pay bills.

Use the KISS Rule. Keep it simple stupid!;)

I mopped and waxed floors and All Of My Guys worked!

Ok I'll ask.....Tom, what's the KISS rule?

My fun job in college was to work at the Greek t-shirt shop where everyone got all their stuff from. Made money, had fun, and was first to hear all the gossip! heehee!

That little job helped me pay for dues and all the other little stuff I felt I needed.

Keep It Simple Stupid!

That was our rule in Journalism back in college! :)

If you don't remember anything, remember this! It's essentially the same thing my parents told me when I wanted to go back to school but was waffling because I would have to take out student loans and go into debt, which was scary because I'd never had student loans before. Sometimes I stress out and worry about it, but remembering that a lot of times you really do have to go into debt to make things better for yourself sort of puts it in perspective and now I worry a lot less about it.

Deliver Dominos Pizzas - $100 per weekend or more.

thanks for all your help
 

I really appreciate everyones help, I dont feel so alone anymore and Im going to take everyones advice! I am going to get that book and read up on it. I also came across a site, http://www.studentfinancialguide.com and they seem to have stuff for students in school and after school. Every little bit counts! Thanks again, I really appreciate your help!

Kristy

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stealth marketer. Knew it from the first post

Time will tell wont it?

If it is say goodby, Audios, Sayanora!:)