Hidden Costs

I am currently pledging Gamma Sigma Sigma, a service sorority here on campus. I looked into the sorority with a few friends and I weighed my opportunity costs. I thought that it might be expensive, take up a lot of time, and give me a sterotype. I also looked into the positive aspects, providing a service to the community, meeting new friends, and making a positive commitment. After considering all of this, I made the choice to pledge. The dues are only $80.00 a year, which is very low compared to other organizations. The only thing I didn't realize was the hidden costs. Today alone I spent $100.oo paying partial dues, buying paddle supplies, money for bolt, and paying for our philantropy. It seems that the actual cost of the sorority is not $80.00, but much more. I have realized that if I had known this in the beginning, I still would have made the same decision. The opportunity cost of large sums of money, did not outweigh the imense amount of enjoyment I receive from providing service to the surrounding community.

Credit Cards

Credit cards seem, at first, to be wonderful things. They give you money that you can use however you want. They are easily obtainable, shiny, and even have your name right on the front. They also determine your credit history, which in turn determines your abilty to get loans for things such as; a house, car, college...I'll admit it, credit cards aren't always a bad thing. They can build your credit in a positive way, but all too often they are misused. They can be dangerous. There are membership fees, late fees, processing fees, etc. They find ways to make you pay, when you didn't actually spend the money on anything, so you are basically paying for holding the card. Unless you can pay off the balance in full, it is often silly to use credit because the interest rates are so high. So unless you are very responsible, can pay off your balance, or have someone to bail you out of trouble, my advice is stay away! Only keep them for emergency purposes, and if you think the temptation is too strong, just don't get one!