Young Adults

Cell Phone Etiquette
It’s a sad truth: As cell phones have become more commonplace, so have rude cell phone users. Cell phone etiquette is largely common sense. As a rule of thumb, be as courteous and private on a cell phone as you would be on a regular phone. More specifically…

• Don’t use a cell phone in a theater, library, classroom… anywhere others are trying to concentrate.
• If you’re in an establishment that asks its patrons to turn off their cell phones, do so. It’s a matter of courtesy in restaurants, but in other locations, like an airplane, it’s a matter of safety.
• Seek out private spots for making and receiving calls, so you won’t disturb others. A doorway or alcove will serve this purpose nicely, although some establishments now designate “cell phone areas.”
• If you know someone will be trying to reach you on your cell phone, tell them ahead of time when they will be able to do so. And if you’re in the company of others during that time period, advise them you’re expecting a call.

Managing Your Student Loans
Because the cost of a college education continues to increase, more and more people are relying on student loans. If you’re a college graduate who is living with student loans, here are some important issues you should consider.

These Loans Can Be Paid Off Early
Unlike many other types of loans, government-guaranteed student loans have no pre-payment penalties. That means you can make extra payments and cut down the total amount of interest you’ll pay, or pay off your entire loan(s) ahead of schedule – all without penalty.

The Interest Is Tax-Deductible
At the same time, student loan interest is tax-deductible – again, unlike many other types of loans. This tax benefit could be substantial, especially if you’ve just started paying back your loans. And while in the past, student loan interest was only tax-deductible for the first 60 months of repayment, now it’s deductible for the life of the loan. So make sure you can live without this tax benefit before you decide to pay off your loans early.

And Then There’s The Consolidation Option…
Chances are, if you haven’t yet received a solicitation in the mail offering to consolidate your student loans, you will in the future. These offers can be tempting, but just as with any other loan refinancing offer, you need to be cautious. Very often, you’ll only qualify for the lower interest rate these offers promise you if you agree to extend the term of your loan, which means you’ll pay more in the long run. If you’re tempted to consolidate because you’re experiencing financial hardship, check with the company that is servicing your loan first. They may have a deferral or forbearance program for people in your situation.

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