06/27/2017
CREDIT TIPS FOR A NEW COLLEGE STUDENT!!!
One of the biggest challenges for new college students is learning how to manage money for the first time on their own.
Did you know that finances are the number one reason cited by students for dropping out before completing their degree?
Adding credit cards to the mix adds to this stress and can have very serious financial implications if you’re not careful.
In a recent study on the financial attitudes and behaviors of first year college students, over 30 percent of students already had credit card debt in excess of $1,000!
In addition, 40 percent indicated that they did not plan on paying off their credit card bill in full each month, and 35 percent did not plan on paying their credit card bill on time.
This underscores how the lack of financial knowledge and irresponsible credit card use can lead to raking up too much debt too quickly.
Here are some tips every college student should heed when it comes to credit cards:
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