The Student Credit Card Game
June 1st 2008 15:38
I work at a university and nothing drives me more insane than to see those credit card applications posted in the classrooms or hallways. Of course, I shouldn’t leave out those companies that send out representatives to set up a table with applications and freebies to attract students. If I could go back to my days as an undergraduate student, I would avoid those credit card applications like the plague. What a mistake that was to my future. Of course, I didn’t think about that at the time. I kept telling myself that it wasn’t a big deal. I honestly believed that I would be making so much money in the future that any debts I incurred while in college would be paid off as soon as I got a job.
I think that there are a lot of college students that make that same mistake. You get yourself in a vicious cycle of debt. You pay off your old debt with new debt and before you know it, your debts control your like. You think about them day in and day out. How will you make your payments? Is there a way to make them disappear?
Well, you can’t go back in time, but what you can do is start getting things under control. If you are getting ready to graduate from college, or are a recent grad, then your first goals should be to pay off the debts you accrued over the past few years. The new income that you get with your first after-college job should be going to pay off those debts. Avoid the urge to blow it on a new car or expensive furniture (big screen tv). Instead, make a plan to pay off those debts. Once they are gone, you can go crazy spending your money on the things you need and maybe some of those things you want as well.
I think that there are a lot of college students that make that same mistake. You get yourself in a vicious cycle of debt. You pay off your old debt with new debt and before you know it, your debts control your like. You think about them day in and day out. How will you make your payments? Is there a way to make them disappear?
Well, you can’t go back in time, but what you can do is start getting things under control. If you are getting ready to graduate from college, or are a recent grad, then your first goals should be to pay off the debts you accrued over the past few years. The new income that you get with your first after-college job should be going to pay off those debts. Avoid the urge to blow it on a new car or expensive furniture (big screen tv). Instead, make a plan to pay off those debts. Once they are gone, you can go crazy spending your money on the things you need and maybe some of those things you want as well.
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Comment by Tyronne
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