« Women on a budget make better fashion choices | Home | Read magazines online for free »
College Starts This Month: Warn Your Kids About the Dangers
By Deb |
Credit cards companies. They’re out there, waiting to offer your kids a free t-shirt, free lunch, or just about anything it takes to get them to complete an application. Before you send them off to college, warn your kids about the dangers of credit cards.
Although many colleges prohibit credit card companies from soliciting on campus, many of them are coaxing college students to apply for credit just outside the boundaries of the campus. They’re offering new, “just can’t say no” incentives to get your kids to use plastic instead of cash.
Before your child goes to college, warn him or her about the dangers and how easy it is to rack up thousands of dollars in credit card charges that can ruin credit in the long run. Do more than just have the talk. Show your kids–on paper–how long it takes to pay off $1000 of credit card debt. It could take 10 or 11 years, and they’ll be paying back a lot more than the original agreement.
Finally, show them the film Maxed Out. It’s a film that shows the real dangers of credit card debt and features the stories of two college students who got in way over their heads.
Topics: Credit Cards, Debt, Economy, Kids |