An informative article discusses a new credit card regulation that will change the landscape of college campuses this fall: the absence of aggressive credit card hawkers.

Because of federal legislation signed recently, credit card lenders will be largely restricted from hammering students with free T-shirts in order to get them to sign up for an account. But students will still have the right to obtain a credit card, and the debt that can come with it. Since the reality is many students will take the plunge and line at least some plastic in their wallet, how should it be managed? Here are some pointers for credit card management before the card is received in the mail:

• Tell parents of your decision to obtain a credit card, and discuss with them exactly how and when you will use it.
• Consider that just because one obtains a card does not mean one has to use it.
• Set up a budget and make sure every credit card purchase fits into it. Keep in mind that people tend to spend more money when they swipe a piece of plastic than when they hand over physical currency for a product or service.
• Attend any free events on campus that provide financial education. These can be as informal as dorm meetings or personal finance topics covered by instructors. Critically consider the information presented and realize that most people grow into young adulthood without a proper grounding in money management.

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

There is a lot of discussion in the media and specifically amongst economists of a turn around in the stock market and the economy. An escape route from the recession is wanted by all. But such discussion is giving hopes to many American families that investing in the market at this juncture will solve their financial problems. As the thought goes, perhaps big gains from investing at the trough in the market cycle will result in the much needed funds to end a dependence on debt.

Not only is this line of thinking deceptive, but I would caution against investing what money can be scraped together when other more pressing financial needs exist. Given the typical debtload of a household, scarce funds need to be prioritized for debt reduction and other uses that reduce financial risks for families, like building an emergency fund that covers at least six months of expenses, including medical needs. Even more clearly is the importance of guarding against the loss of a home to foreclosure — if a family determines that continuing to meet mortgage obligations is the best course of action from strictly a financial standpoint — instead of investing additional funds into the stock market.

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

The consumer delinquency rate on credit card debts is rising, up 11% from one year earlier for those that are more than three months behind on their payments. Saha-Bubna covers the new data for The Wall Street Journal. Many, having swung through the last six months with savings are now running into increasing financial difficulty, and might decide to deprioritize their credit card balances. Such a decision can cause more problems than is at first apparent, since one’s credit score will suffer.

Instead, consider setting up a game plan to get rid of debt, in which every spending or saving decision you make it put into clear focus regarding your financial health. It can be as simple as setting up a rough, quick budget, identifying discretionary and non-discretionary expenses, and using a system to paydown debt.

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

The personal finance section of The Wall Street Journal is stepping out of its standard group of themes and producing some interesting content on issues like frugal vacations these days. With the summer season around the corner, you may be wondering what to do for a fun weekend or even week away from the daily grind that doesn’t dent your wallet too much.

About twelve years ago I had the good fortune of living for year pretty much as an adopted child by a family I didn’t know beforehand. The experience changed my life – imagine a 15 year-old learning to live under new house rules, with different responsibilities, and enjoying some unexpected freedoms. Something we did as a family that I had not ever done before was extended camping. I’m not talking about one or two nights, but a seriously long trip in a van with tents to pitch. Those trips were some of the most memorable of my life.

Amy Hoak writes about the potential for family camping these days — which can be one of the least expensive ways to go on vacation. But before you take my stamp of approval at first glance, consider some of her points:

• Buying a tent and a couple of sleeping bags from a major retailer can come it as just a couple hundred dollars. DebtGoal thought: that’s a good option, but even better is to buy used supplies cheaper off of the Internet or borrow them from a friend or relative for free!
• Plan ahead as much as possible. Check out FreeCampgrounds.com. DebtGoal thought: use the Internet to research well the different sites and options, basing a decision on an optimization of cost and facilities like pools, electricity access, beaches, climate, etc. Even better: if you have your heart set on going far from home, perhaps on a plane, consider camping at your destination instead of spending on a hotel. The savings will be astronomical.
• Check out RV rental options instead of investing through the ownership track. DebtGoal thought: skip the RV altogether and save a bundle. Make it a fun game to brainstorm how little you can spend in total on a family camping trip!

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.