You are now ‘Legal’ …..

Turning 18 is an exciting time for most…… You have graduated or will soon graduate from high school and for those who will be starting college there will be (or have been) tours of college campuses and choices to make.

You may have received one or more scholarships to help defray the cost of your college education. Or, the cost may be yours to pay.  At 18 you are now responsible for your own debts.

Signing on the dotted line means the debt is yours to pay…. so getting a loan at the lowest interest rate possible is a must.  There will be specifics….. length of loan as well as monthly payments and due dates…. It is imperative that you adhere to the payment schedule so you won’t fall behind and then have more debt in the form of added interest charges and late fees.

Those who opt to forgo college and join the work force should begin a budget to take care of any expenses.  Do not….. i repeat….. do not buy what you can’t afford to pay when the bill comes in.  Doing this will get you into a financial hole which can take years to crawl out of.

Which ever path you choose, choose wisely.  And begin right away to pay your debts on time and in full so you will never incur added debt.