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Monday, Aug. 28, 1989 / University Daily Kansan
©1989 BIC Corporation, Milford; CT 00460
NEW YORK — Along with their class schedules, many students heading to college in the next few weeks will be getting real-life introductory lessons in personal money management.
All the offers of credit cards, banking services and other promotional material handed out during orientation week don't have to be dealt with right away.
To start with, most financial advisers agree, a simple one-step-at-a-time approach is usually best.
"For many, moving away from home to attend college marks the first big step toward adult independence," said a representative of the Credit Union National Association, a trade group with more than a passing interest in the subject. "Part of this growth process involves taking control of your own financial affairs."
Money management 101 Students are challenged with financial options
But the course description includes other assignments as well — including dealing with unfamiliar situations, working with different sequences away from home.
"If you're a typical student, you don't have a lot of money, and you probably won't make frequent use of
The Associated Press
By hallowed tradition, the main financial challenge most college students face is a chronic shortage of funds.
If you're a typical student, you don't have a lot of money, and you probably won't make frequent use of the few financial services you'll need.
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The checkbook, furthermore, should be kept in a safe place. So should the automatic teller machine (ATM) card that comes with most accounts.
College-age consumers seem to have developed a special affinity for the convenience ATMs offer. According to CUNA, people 18 to 24 years old use ATMs more often than any other age group.
A CUNA representative
And a credit card? A generation ago, a student might have had a lot of trouble getting one. Today he or she is more likely to be inundated with application forms.
Should a student open a checking account? It's a good idea, according to the insurance institute, because cash lying around a dorm room in any amount is prime prize for theft.
Students also may not have to spend a lot of money inursuring their body possessions, such as clothing, radios and bicycles against theft.
the few financial services you need." CUNA's representative advised. "Look for services that provide the features you want, but won't penalize you for infrequent use."
If a student's parents have a homeowners' policy, the Insurance Information Institute notes, it probably already covers property that might be stolen away from home, up to a specified limit.
computer — an insurance agent should be consulted to determine whether special coverage is required.
That can be a nice extra. or It can mean potential trouble for people taking on new responsibilities in a new job and much experience in managing money.
The institute says, for example, a typical policy covering a house for $10,000 would give the student $5,000 at school, minus any deductible.
Still, families who are uncertain what their policies say should verify their coverage. And if a student is taking anything of significant value along — jewelry, say, or a personal
"Having your own credit card is a good way to begin to establish your credit history, and it is useful in emergencies." CUNA's representative said. "Be sure not to abuse the convenience, though, or you could damage your creditworthiness for years."
The Associated Press
BOSTON — The Boston Public Library is searching its stacks and reading rooms for a visitor who has caused a stir with his taste in shoes, shoes belonging to other people who have slipped them off while lost in a book.
Boston library losing its shoe
And he only takes one at a time. Library spokesman Arthur Dunphy said that three shoes had been placed under library tables in the past month.
All the victims so far have been female, Dunphy said. Each made herself comfortable at a table on the carpeted floors of the library's general building on Copley Square.
Some slipped off their shoes while
they sat at a table reading. Another victim found one shoe missing after she had padded off to the copier machine barefoot.
“He’s a shoe freak,” security supervisor Lt. George Butner said. “You have to tell it like it is: He's a backk. He must have a closedel by pop.”
Library security officers said they did not think that the crimes were the work of a sure-footed prankster but were the kind of shoe-crazed social deviant.
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Butner said the thief had taken high heels and flats of different sizes. Library personnel said they did not expect the thief to get away with many more heists.
According to Dunphy, the victims
have been able to offer consistent descriptions once they think back to who was sitting across from them.
Butner described the suspect as a 23-year-old man with earrings in his nose and one ear.
Dunphy said the library would not warn patrons to keep their shoes on their person as it would about their wallets and pocketbooks.
"It's an epidemic," he said. Librarians elsewhere in the Boston system said shoes at their branches stayed put.
"Isn't that bizarre?" said Paula Posniak, a librarian at the West End branch. "We've got people that curse, talk to themselves, write all over newpapers, but no (stolen) shoes."
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