Even though New Year's is so NOT my favorite holiday, I do love thinking up New Year's resolutions 
. To me, there is something fun about the clean slate and the hope that this is the year I banish frozen pizza as a dinner staple, stop counting "taking out the trash" as exercise, and organize (or throw out!) the foot-high pile of files on my desk (I can dream, can't I?).
Since I have already narrowed down my lofty goals for 2007, I thought I'd come up with a few resolutions for you as well. Even though we're already well into the New Year, try any one of these as a small, easy step toward feeling more in control of your finances:
- Organize and keep your financial aid paperwork. If your current system is to hope your parents are holding on to these documents, make this the year you grab the reins yourself! Get one of those handy expandable file folders, collect all the documents you currently have, and start filing. If you haven't kept all your documents to date, now is the time to start. When you receive new documents, read them carefully, and then file them away. If you have questions about them, contact your lender.
- Learn about your loans . If you aren't familiar with at least the basics of your student loan, take a few minutes to educate yourself. Check out those loan documents you just filed or your lender's website to learn at least two things: the interest rate and any benefits you can qualify for. Some lenders offer special discounts for responsible repayment of your loans. Find out exactly what they offer and what you have to do to earn the discount.
- Learn about your credit card. If you have a credit card but aren't sure about your interest rate, fees, or rewards attached to it, make a point to learn. Check out your next bill, and make sure you can decipher it. If any of it is confusing, ask your parents, a savvy friend, or the credit card company itself to explain it to you. Read your paperwork or check out the credit card company's website to see if there are any rewards tied to your card that you can take advantage of.
- Try out one new money-saving trick. It's hard to save money when you're in college—you're probably not earning that much. But every little bit adds up, so see if you can try just one thing to help the cause. It can be as small as limiting your eating out to just once a week or maybe something bigger, like making interest payments on your student loan. If you carry a credit card balance, make a goal to pay it off and charge only what you can pay off monthly after that.
If you decide to give any of these resolutions a try, let us know how it's going. Or maybe you've already made some money-related resolutions of your own for 2007. If so, what are they?
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