College Credit Card Debt
Here’s a simple video that most college students should probably watch. When you’re only 18 or 19 years old and heading off to college, the credit card companies can’t wait to get you to sign up for their card. On average, most students rack up debt by eating out, buying clothes, and then use the money they do have to pay the minimum on the account. Recent statistics say that 20% of college students graduate with 7k of high interest credit card debt.
I wish I knew what I pretended to own through my credit cards. All I know now is that these things don’t make your life better. If I just used the money I make to buy things, it only costs me what I paid for it and I don’t owe anyone for it. I like owning things rather than hoping I can pay for them. This video is simple but good.
Teaching about credit cards should be done WAY before someone enters college. How about Junior High? By the time a person enters college, they are so arrogant and full of themselves, it’s no wonder they are victims of credit card companies.
Just my take!
Great blog, very important to teach kids debt management, it’s really something that is overlooked even in the school system
This was a great post and video.
I agree that you should be teaching all about debt and money way before college. It reminded me of my first credit card. When I was a freshmen in college, I saw a table for free tshirts and signed up for a credit card to get the shirt.
I didn’t know anything about credit cards or debt at that point in my life. You should have seen the crowd around that table too!
Parents need to take a central role in teaching money and debt issues.
Great Post!