Don’t Let Credit Card Use Drown You in Debt!



Don’t Let Credit Card Use Drown You in Debt!

by  on November 17, 2014
It is not uncommon to graduate from college with a high amount of debt. While student loans can quickly add up, another contributing factor is the use of credit cards. Credit cards are more available than in the past, enticing a majority of today’s college students to use credit cards to pay for their living expenses. This is making it even easier for students to end up in debt upon graduation.
Knowledge about positive financial behavior is related to responsible credit card use among college students. Luckily, there are many tools that can help students gain the knowledge they need to live within their means so that credit cards do not have to be an option. There are apps, websites and calculators that can assist with budgeting. In addition, many universities provide financial literacy education to students. The best thing a student can do is figure out a budget and plan how to stick to that budget. It is better to make a plan to live within a budget than to be forced to seek help once debt has accumulated.
For further information:
References
Stixrud, W. R. (2012). Why stress is such a big deal. Journal of Management
      Education, 36(2), 135-142.doi:10.1177/1052562911430317
*Originally posted on the Career Skillet website (Permission granted by Jill Bowers).

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