Student loan payback: a 60-second guide

By Georgie Miller

Are student loans the next housing bubble? They're certainly making headlines right now. The U.S. Senate recently failed to advance two bills aimed at preventing interest rates on subsidized Stafford loans from doubling on July 1.

But the current debate is over the interest rate on new loans, so only students who are still in school and actively borrowing will be affected by the outcome. As someone who's already paying her student loans, I often want to ask, "What about me?"

If you too are no longer in school and have student loans to pay back, here's an abridged guide to successfully tackling your student loan debt.

1. Understand your obligations

While you may not have fully grasped this when you were signing the dotted line as a freshmen (no judgment: I certainly didn't!), student loans aren't like other types of debt.

By Justin Boyle

Last weekend I got a text message from my mother. It included a photo of her smiling in front of a picture window overlooking the sea and text that read, "Brunch in San Diego, dinner at home in Phoenix. Not a bad life!"

My parents are making a pretty good go of the empty-nest lifestyle, taking an island vacation once every few years and occasionally traveling between their old stomping grounds in New York City and their new turf in the Valley of the Sun. But they're not usually the type to jet to the seaside for brunch on an ordinary Saturday, so I had to ask about this trip.

It turned out that it involved the pending expiration of points they'd earned through their credit cards with miles promotions. By keeping an eye on the fine print of their card agreements, they were simply making the most of what their travel rewards cards offer them.

Want to do the same this summer (and beyond)? Here are three tips for maximizing your travel rewards.

1. Target the right carrier

Not all airline rewards programs offer the same flight availability. Some carriers offer few seats to frequent flyers on their flights, but others are much more liberal.

By Holly Johnson

We've all been there. Your dryer breaks down. Your car needs new brakes. You finally have to replace your leaky roof. These are just a few of the common costs that can appear out of nowhere to drain your wallet. So what are you supposed to do when these unwelcome surprises occur?

You can't predict the future and there's no way to safeguard yourself against the many external factors that cause emergencies. However, there is one fool-proof way to prepare for a lifetime of unexpected expenses: start an emergency fund.

We've talked recently about what an emergency fund is and why it's important to have one. But if you haven't done it before, creating an emergency fund can seem like a challenging endeavor. Try using these five tips to get started.

1. Identify regular saving opportunities

In order to free up cash to divert to your emergency fund, you may need to cut some of your expenses (assuming you can't find a new way to make extra money).

By Peter Andrew

I'm not what you'd call a natural entrepreneur. In fact, every venture I've ever tried to set up has turned to dust. But a few years ago, I inherited a small sum of money, and couldn't find anywhere to put it where it would earn a reasonable, relatively risk-free return. So I once again considered setting up my very own micro-enterprise: I planned to buy a cheap, run-down home, do it up, and then flip it before starting the process all over again.

A number of questions arose: Would my meager windfall be enough to fund such an operation? If not, where should I obtain working capital, especially as my bank and I are barely on speaking terms? Should I be ready to let credit cards take some of the strain?

Zero percent credit cards as seed capital

Given my track record, it's probably just as well I left the money in something my bank, without any trace of irony, calls a high-interest savings account. But should I have gathered some nerve and taken the plunge, having first applied for a clutch of zero percent credit cards? Maybe.

The idea of using the interest-free introductory period that many cards offer to fund a start-up business sounds attractive, and there are plenty of stories online about entrepreneurs who used plastic to get their companies off the ground.

By Georgie Miller

According to the National Center for Education Statistics, more than 1.7 million students will graduate from college this year. Graduation season is one of my favorite times of year. It reminds me of a time when the future was full of possibility.

However, there are some things about life and money that I wish I had known before entering the "real world."

1. Don't pigeonhole yourself

When I started looking at job ads, I was worried because I didn't see any that specified my major. However, I've been working happily for five years in a job with no explicit connection to my degree.

By Anthony Fontana, Zing!/Quicken Loans

This story comes from our partner, Zing! by Quicken Loans

As a college student, this time of year was bittersweet. On one hand, the semester was winding down and summer vacation was just a few sleepless nights spent cramming for exams away. On the other hand, the end of the semester also meant it was time for a summer job.

A good summer job can make for a memorable summer. However, a bad summer job can make the summer seem like it’s dragging on forever. Below is a list of jobs for you to consider this summer if you want to make some money and have fun at the same time.

Server

If you’re looking to make some quick cash, work at a restaurant or bar as a server, not a dishwasher. While your paychecks generally won’t be worth a whole lot, you won’t have to wait a week or two for payday because you’ll bring home cold, hard cash after every shift (hopefully). Look for establishments that have outdoor seating, as it’s likely they’ll need to hire extra help for the summer.