Preventing Pay Day Blues

In my never ending quest to becoming a mature woman, I am slowly but surely learning the rules and regulations of surviving in the adult world. You know, like when you stop relying on mommy and daddy and handle your own business. Because my family has always had pretty tight finances, I learned the value of a dollar as soon as I hit legal working age (16 in NY). However, when I quit my job to focus on school my first year of college, I have discovered several things to do when you are unemployed:

Disclaimer: To some readers this may seem like obvious stuff, but for those of us just starting out in the adult world, I feel that this is VERY relevant advice. PLEASE don't learn the hard way.

1) Do not open a credit card, even if the limit is extremely low. On my eighteenth birthday, while still employed, I got a credit card with a $150 limit because I decided that it would be a good time to start building my credit. After going away to my first year at college and being unemployed to focus on school, I've had several "emergencies." Paying the credit card company for those emergencies is much worse than paying back your parents. Just wait until you are financially stable to worry about building credit.

2) Always keep record of purchases made with debit cards. Overdraft fees are probably the worst thing ever created. One time, because I neglected to keep accurate records, I paid $35.99 for a soda at McDonald's.

3) Keep in contact with your college's Office of the Bursar. I have several "questionable charges" from the bursar's office that are extremely difficult to dispute. My guess is that I could remember them if I KEPT RECORDS.

4) Keep accurate records of EVERYTHING. If you are ever are making a transaction, or even just asking a question of a customer service representative, follow these steps: write down who you talked to, why you talked to that person, the time and date, and any answers or agreements. This can help you dispute problems with accounts and/or ensure that you are being provided the possible service. Mom gave me this nugget of wisdom. Works like a charm!

I learned these lessons the hard way. Today was pay day from my job as a summer camp counselor. I have a net $20 more than I had before. Ah, the joys of early adulthood...