3 tips for using your credit during back-to-school season

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The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
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As you gear up to go back to school, you’re dealing with any number of expenses: from your first tuition payment and dorm supplies to textbooks and much more. 

Paying for them upfront with cash is a great idea in theory, but starting to take advantage of your credit card and build your credit score has its pros as well. With that, here are three tips for using credit for your back-to-school purchases.\

Tip #1: Understand where your cash comes from to build a budget

Start by understanding where your money comes from. Did you work over the summer and save? Are you receiving financial aid? Are your parents or guardians helping out? 

Put together a list of all those income sources, and add up the money you’ll have on hand for this semester’s expenses. 

The 50/30/20 rule is a great guide to follow for building a great budget:

  • 50% of your money should go to living expenses: rent, gas, food, tuition, and so on
  • 30% should become your disposable income for eating out, attending events, and any other fun purchases
  • 20% should go to your savings account for emergencies… or next semester! 

Tip #2: Define the best times to use cash vs. credit

Next, let’s think critically about how and when you should use your credit. 

For example, the back-to-school season can come with a ton of expenses within a short period of time — and maybe you don’t have quite enough cash on hand to cover all of them comfortably. In this situation, it makes sense to put part of those expenses on your credit card for more financial flexibility (not to mention the credit-building opportunity). 

Kasheesh also offers the ideal solution here: With our Google Chrome extension, you can split your online payments between your debit card and credit card. This shares the load of big purchases like tuition installments and textbooks — without putting too much strain on your wallet vs. your credit bill. 

Tip #3: Keep cash on hand while you build your credit score

Planning out when you’ll use cash vs. credit for your back-to-school expenses is the best way to ensure you’ll have cash on hand when it’s truly necessary. After all, starting the new school year is pricey, and certain expenses can sneak up without warning. 

Fortunately, you won’t run out of cash if you wisely use your credit card at the best times — and if you split costs between your credit and debit cards with Kasheesh. 

There’s another bonus here: Using your credit wisely will help you build your credit score early. Did you apply for a student credit card as soon as you turned 18? Or are you thinking about opening a line of credit now as you’ll be graduating soon? Either way, there are countless benefits to setting yourself up for a solid credit score once you’re out of college. 

When you want to apply for a car loan, an apartment, or a mortgage years down the road, you’ll be glad you started building your credit history early on. 

Let's see how much your budget
needs Kasheesh
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Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
Let's see how much your budget
needs Kasheesh
Take a quiz
Term
Capital
Visit Glossary
Meaning
The value of personal items that one owns, including savings, investments, and property. One of three factors in credit scoring
Visit Glossary
You’re not using Kasheesh yet?
Join the Waitlist
No items found.
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