Ensure you pay off your student credit card this Christmas


We’ve all been there—charged a few too many pints, clothing purchases, or school supplies on the student credit card thinking that paying it off later would be no big deal. But if your student loan runs out and you only make the minimum payments on your card each month, interest charges will really start to snowball. Don’t wait until the New Year to start paying off your cards; follow these tips to get debt free by Christmas.

What’s the Big Rush?

You may be thinking that the Christmas season is the worst time to pay off your credit card debt—you might be running low on your student loan funds and gift giving season is rapidly approaching, meaning you don’t have much spare cash in your accounts. But the longer you wait, the more interest your debt will accumulate, and the more long-term damage you’ll end up doing to your credit score. A bad credit rating could mean that you’ll have trouble getting a car loan, mortgage, or mobile phone tariff after you graduate, and it could even hurt your chances of starting your own business someday. The time to prove your financial responsibility is now; the better you are at managing money at uni, the more successful you’ll be after you complete your studies.

How To Get Debt Free By Christmas

The Christmas season may traditionally be a time for giving and receiving brand new items, but this year, make it about selling your old belongings as well. When you take a good look around your flat, you’ll probably notice the gifts you’ve accumulated from Christmases yore that are either unwanted or outdated. If your music and movie library has gone digital, why keep old CDs and DVDs lying around the flat? Scan their barcodes and trade them in for cash through an online buyback plan. Do the same for those old uni textbooks you’ll never read again; Amazon, Unitextbooks, and Half.com will gladly take them off your hands. Old clothes might find a new home at the local consignment store, while furniture, collectibles, and other miscellaneous items might be a hit on eBay.

You’ll get the most money to put toward your credit card debt from high ticket electronics like your old Smartphone, laptop, or gaming console. Where can I sell my Xbox 360, you ask? Online electronic buyback plans like musicMagpie will take them, or you could try your hand as an independent seller on eBay or Amazon. Depending on where you sell, you could end up with a handsome sum of cash to put toward your student credit card debt. The best part about selling at Christmas? You’ll clear out all the old junk from your flat so that the place is fit for guests, and make room for all of the neat new tech gadgets and clothes you’re bound to accumulate during the holiday season.