August is the time where students will pack up and head off to the college. There is a lot of things that are on your mind, not just how your child will get to campus or when they move into the dorms. If there is one thing that you will need to figure out is how exactly your child will be able to sustain themselves with money. One of the easy ways that people, especially college student, buy the things they need is a credit card. However, this is not the wisest choice that is available to them. There is no denying fact that credit card companies make a very heavy push on campus to promote their cards. Either contests for free cars and money, or perhaps getting free food, are exchange for signing up for a credit card or just hearing a pitch from a company.
The card companies are everywhere on campus and always come up with cool designs to lure students in. Either with a card showing the school colors, school mascot or create your own designs, you can have a card to fit your tastes. However, this is not the best thing in the world for a young freshman to have. There are many times you have personally seen credit cards used for minor purchases and just shake your head. The late George Carlin said that no one should be paying a bank eighteen percent interest on a pack of cheese doodles (and would also snap if someone is paying for a stick of gum or a magazine with a credit card). Yet, this is what your child will most likely be doing. Going to the food court and charging his card every time he or she wants to get a snack, a soda and maybe a lunch to boot. If your kid needs clothes, he or she will just walk to the store and swipe the card to get a brand new wardrobe.
Hopefully, they will not be swiping the card to get electronics or a computer, but it does happen. The best way to have a child armed for classes with money, but not with a high interest credit card, is by using a debit card. You can only use so much on that card, and once it is gone, it is gone. There is no worry about over spending or at least owing some kind of debt once your child leaves the school with a diploma in their hand.
