Do College Students Need a Credit Card?

Becoming a college student is the time for teenagers to learn living without parents and understanding to manage their life in adulthood. One of the most important things to learn is about budgeting management. College students could have some times to have side jobs in summer so that they could learn how to earn money and manage it. However, do college students need a credit card?

It is yes that teenagers need to learn about budgeting management, it could be through managing credit card bills. However, the risk of they could have financial problems is bigger. Teenagers need to learn about financial management. Contrarily, they can pay everything with credit card so it just makes them dispose much money. To prevent such problem, parents who cosign credit card application should also make a limit in the number that could be paid by their teenage children from summer job earnings. If the teenagers can learn money management from this, it is not a problem to grant when they need a credit card.

Furthermore, make the college students learn about how they should responsible about their life and plan the future. Work in the summer jobs and do the other side jobs are great ideas to make your teenage child earns some money. If they have earned some money, then they can be responsible to pay credit card bill. When they think that, they need a credit card for some urgent situations. You can approve it as long as your child can take some educations about how the credit card works and how to manage financial.