- If you get into credit card debt in college you most likely won't get out of it anytime soon.
- The habits you start now can carry into the rest of your life - good or bad.
- Stewardship of your money is very important. The money isn't your own, it belongs to God.
- Living beyond your means is a bad way to go through life. Debt handing over your head can be stressful and keep you from being able to purchase a home or save money later.
- If college students aren't a cash cow for credit card companies, then why would they give you free stuff to sign up? Why are they constantly sending you junk mail? Why are you their #1 target audience?
If you can't pay for it in cash - say no.
If you can't afford it, you don't "need" it - even if you really want it.
Otherwise, you will join these statistics:
- The average credit card debt owed by college students is about $2,700.
- About 10 percent owed more than $7,000!
- Students held an average of three separate credit cards
- 78 percent of students had at least one credit card
- 32 percent of students had four or more credit cards
- 95 percent of graduate students carried credit cards
Good for me - bad for you. That is just the beginning. Credit card debt is stupid.