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STRATEGIC ISSUES...ONLINE 
For week of January 8, 2007, Issue #290
Featured Articles:
1.  Thinking About Giving Your College Student a Credit Card?
2.  Tech Tip Weekly:  Hiding and Unhiding a Worksheet in MS Excel
3.  Compliance Calendar
 
 
If you would like to have further information on any of these articles, let us know.  We would appreciate receiving your comments and/or suggestions, anytime!
acarroll@pmcpa.com
 
1.  Thinking About Giving Your College Student a Credit Card?
 
Should a freshman in college have a credit card?  Opinions are divided, both among parents and financial advisers.  It's a situation that can work out really well or really badly, depending on the student and the parents.
 
At its best, everyone benefits from giving a student a card.  The student uses the card for budgeted expenses, pays off the balance each month, and starts building a good credit history.  The parents sleep better knowing the student has a credit source in case of emergencies.
 
At its worst, the student is unused to managing money or living within a budget.  They fail to make payments on time, incur high interest charges, and ruin their credit history.  The parents have to step in to bail them out.
 
Among the many risks:
 
-Lack of experience in managing money can lead a student to overspend, or to neglect making payments on time.
 
-Peer pressure may encourage a student to spend on entertainment or clothes, just to keep up with friends.
 
-Failure to agree on a budget beforehand can result in shock when you see your student's monthly statement.
 
-Parents co-signing for the card can put their credit scores at risk too.
 
-Loss or theft of the card can lead to problems that take hours to resolve. 
 
To minimize risks:
 
-Set ground rules for use of the card.  Agree on what it may and may not be used for.  Put the agreement in writing and have the student sign off.
 
-Establish a budget.  Talk regularly about how your student is managing his or her expenses within the budget.
 
-Consider alternatives to a credit card, at least for the freshman year.  Consider using a prepaid credit card, or set up a checking account with a debit card.  That allows the student to gain experience managing expenses within a budget.
 
Finally, remember you may have no say in the matter.  Students are bombarded with credit card offers as soon as they enroll. Card companies are usually happy to issue a card to any student over age 18 in his or her own name.
 
2.  Tech Tip Weekly:  Hiding and Unhiding a Worksheet in MS Excel
 
Hiding a worksheet is useful if you don't want others to see it or if you just want to get it out of the way.  If a sheet is hidden, its sheet tab is also hidden.
 
To hide a worksheet, choose Format, Sheet, Hide from the menu bar.  The active worksheet (or selected worksheets) is hidden from view.
 
Remember:  Every workbook must have at least one visible sheet, so MS Excel doesn't allow you to hide all sheets in a workbook.
 
To unhide a hidden worksheet, follow these steps:
 
1.  Choose Format, Sheet, Unhide from the menu bar.
 
The Unhide dialog box appears, listing all hidden sheets.
 
2.  Choose the sheet that you want to unhide, and click OK.
 
3.  Compliance Calendar
 
January 12
-Employers deposit Social Security, Medicare and withheld income tax for January 6, 7, 8, and 9.
 
 
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