Be Conscious When It Comes To Credit Cards
The first big test many university and collage students will face more often then not is how they handle their financial responsibilities, but more specifically credit cards. Unfortunately, it is something several credit counselling agencies say that it is one that too often many students fail at.
While some have the ability to handle the monthly obligation of a credit card, many eventually become overwhelmed and begin to spiral out of control immensely.
While some have the ability to handle the monthly obligation of a credit card, many eventually become overwhelmed and begin to spiral out of control immensely.
Some will vow to use the card strictly for emergencies purposes only, but this weaken their resolve by charging small unplanned purchases. The ability for students to pay their bill is tested in mid-October when their first statement and accelerate in the new year arrives.
Many credit counselling group will see more young people in their 20's who are struggling with debt, which will rack up during their university years. At least 80% of these clients have credit card debt along with student loans.
A 2013 study of more than 22,500 undergraduate university students found that 85% had at least one credit card, including 29% with two or more. The bottom line is students need to be aware of this because it can cause a ton of problems for them down the road and later into their future.
Many credit counselling group will see more young people in their 20's who are struggling with debt, which will rack up during their university years. At least 80% of these clients have credit card debt along with student loans.
A 2013 study of more than 22,500 undergraduate university students found that 85% had at least one credit card, including 29% with two or more. The bottom line is students need to be aware of this because it can cause a ton of problems for them down the road and later into their future.