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Don't use credit cards!

Apr 12, 2000 Write an essay on this topic.

The average college student has amassed credit card debt of $2,500. That's a lot of money. But that's not all. When late charges kick in students will have to pay interest charges of an average of 17%. Paying the minimum will never get the debt paid off! Not to mention the extra charges on the bill when you have to have that sweater ON SALE at the Gap. Does not make any sense. 60% of students have at least one card. 20% have 4 or more! What are ways to cut back on over credit card use.

First, find a credit card that has low interest. That's hard to do. If you can find one between 9% and 15% that's pretty good. Any less and it is probably just an introductory rate that will only last 6 monthes or until you carry a balance oer into the next month.

Second, pay off the credit bill monthly. That way you will not have o worry about interest rates. In order to pay off monthly means that you can not carry high balances. Which is great.

Third, most experts recommend that you only use your card for emergencies. But pretty soon you will begin to reason in your mind that new clothes are an emergency. Ok. Maybe you can indulge with reponsibility. But be careful and disciplined.

Do not rely on your parents to help you out. You are a big kid now and it is important that you get ready to become financially independent. you will feel good about yourself and be ready to take on the day.

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