The skyrocketing cost of higher education leaves little room for financial blunders. Every dollar counts when trying to get through college with all the tuition fees, bills, and personal expenses that need to be funded. Students have to be smart about how they handle money so that they don’t go into debt. They also have to be mindful about the little things like payment deadlines and everyday habits. There should be a conscious effort to reduce expenses and avoid fines whenever possible to minimize stress. It isn’t very hard to avoid raking up fines in college, but it does require a fair amount of discipline and organization. The following examples illustrate this point.
Late Rent Payments
Most college students move to another town or another state to get their tertiary education. This often means living in a dormitory or an apartment complex for a number of years. For the first time, they have to pay rent to keep a roof over their heads. Studying the rental contract is a must to learn the house rules such as curfews, pet policies, security arrangements, and so on. The contract will also contain the specifics about payment deadlines and the fines that might result if the rent is not settled beyond a certain point. This should be taken seriously as penalties can be substantial.
DUI Arrests
With most people living away from home, students form strong bonds with friends and classmates in their university. Nowhere can these bonds and their newfound freedom be seen more clearly than in the myriad parties being thrown every week. These tend to overflow with drinks and last well into the morning. The police apprehend countless young drunk drivers annually. Those arrested face hefty fines, community service, and jail time depending on the laws of the state. These can be a crippling blow to financially-challenged students. While shunning parties is unnecessary, some prudence will go a long way in ensuring that things stay fun and positive.
Car Insurance
Somewhat related to DUI arrests is the issue of car insurance. Students who wish to drive must get the appropriate license as well as insurance as mandated by law. The premium rate is different for everyone. Providers will look into a person’s details and driving history to determine a suitable amount. Young people, due to their relative inexperience, are seen as high risk clients. They may be forced to pay much more than the average adult motorist. Having a dismal driving record that shows arrests for DUI and traffic violations will only cause this to spike further. Being a responsible driver, on the other hand, will cause the premium to go down gradually. Additional rate cuts can be availed by getting good grades.
Credit Card Fines
Credit cards make it convenient to purchase merchandise in stores and on the Internet. However, they do have their own drawbacks. Cards make it easy to overspend to unhealthy levels as all it takes is a simple swipe. People don’t see their money getting depleted right away and they get to spend forward even if they don’t have the funds. This can be dangerous for students who have yet to master the art of personal finance. It is important to learn how to budget resources and to be mindful of cash flow. When the credit card payment deadline comes up, there has to be enough funds for it or else the fines will pile up. Settle them as early as possible.
Parking Tickets
Another source of fines is parking tickets. In some cities, the fines can be quite steep. Students can avoid this hassle by being informed motorists. They need to become familiar with the enforcement rules that are in place where they are living. They should also ask around to find out the safe places to park at and tips that are pertinent to the local scene. If they still get served with a parking ticket despite following the rules, then they can try to appeal their case to the proper authorities.
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Author Bio
Ryan Ayers is a writer who creates informative articles in relation to education. In this article, he offers legal advice to college students and promotes the work of lawyers such as those involved with the California Innocence Project.