I went to college to get an education. I wanted to learn about business and finance, maybe a little marketing and take some art classes. I left school with a degree in business and a $3500 balance on a credit card. Mind you I didn't use it to pay for the education that I got. In fact, I couldn't honestly tell you what I even bought. All I know is I got that card two weeks into my freshman year because they were giving out free t-shirts with every application.
I may sound like an idiot running up a balance like that but the truth is I am not alone. On average students carry $2200 in credit card debt, and that figure doubles if they decide to go to grad school.
The key to avoiding these pitfalls is education, and the right kind of card. I found a site that specializes in cards designed just for students. Check it out and see if any fit your needs. More to come!
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1 comment:
I too got sucked into credit card debt while in college. It's not free money!! Not only do you have to pay back what you spend, but you also pay large amounts of interest when making minimum payments. You can end up paying $500 for the $60 shoes...hardly worth it! Use credit wisely :)
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