Because college students throughout the U.S. spend nearly $100 billion annually, they are likely to r

There are so many reasons why the parents of college students want them to have a credit card or two. Many parents have a greater peace of mind and are more at ease knowing that their child or children will not be left out in the wind if there is a crunch in money. If a student loan, for instance, is held up longer than is expected, a student can get buy with only their credit card for their expenses. Before the existence of credit cards, parents would have to wire money or send money orders in the event of an emergency or shortage of cash flow. A student may also have to need to buy airline tickets or a hotel room in the event of a car breakdown or family emergency. Also, having a credit card in college allows students to build a credit history which, in the future, will allow them to qualify for larger loans, such as a mortgage.

Since so many incoming college students appear to be oblivious to the consequences of credit card debt, some colleges are including money managing seminars in their orientation presentations. These seminars can be very effective in pointing out the drawbacks of credit card uses and abuse. If the students take these seminars seriously, they will be better prepared when dealing with credit. They must consider Saikaku’s general rule, “give the closest attention to even the smallest details.” Whether the student decides to take action, however, is completely up to them. What about the uninformed student, though? They are not alone in their effort to acquire awful spending habits. One must also give credit to the card companies who hand out credit cards to college kids who have no visible means of support. They simply figure that mom and dad can and will always bail their children out of debt. It is easy to buy on impulse and forget that future income is being spent, money that does not yet exist. Stores, as well as credit card companies reap the benefits of our ignorance.

emain big spenders once they finish college and enter adulthood. The current youth generation has more buying power than ever, and companies, including credit card companies, are spending millions of dollars each year to catch their eyes in hopes th

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