Pitfalls Commonly Faced by Students

Students have made some very popular mistakes which you can avoid. Some are comical but others are very serious. This section shows you what those mistakes are and how to avoid them:

Overspending - This is the problem that is most feared. We've all heard the nightmare stories about spending gone bezerk. However, there is a great way to combat overspending. UCMS recommends that you track your transactions similarly to the way you track your checkbook. You want to record purchases, update balances and register payments. We have a simple device that we can give you. Just send us your name & address and $3.00 for shipping and handling and we'll mail you a year's supply of handy "transaction recorder" that fits over you credit card. You'll never be surprised by your balance ever again!

Not complaining in writing. Calling doesn't preserve your rights. Writing in does. Keep an electronic version of your letter because it usually takes about three letters for you to get a positive result.

Over borrowing - don't let the tide of unpaid interest swallow you up. Keep your balance manageable.

Poor organization -

  • lost bills 

  • forgotten bills 

  • bills that go to the wrong address 

  • roommate throws the bill away because it looks like credit card junk mail 

Now take a look at some common student misperceptions...