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Credit card companies lure young college students with applications in the mail daily and advertisements on television causing many financial burdens. By the time you turn eighteen applications are filling your mailbox daily and advertisements on television catch your attention. This causes your mind to begin to think that you are responsible enough at such a young age to get a credit card. Once you apply, you are finally approved for one. Now the fun begins, you have waited so long for your credit card that you want to run out and buy that new pair of shoes or pants that you have been waiting so long for. You think to yourself you have time to pay your debt off. Sure, you are establishing your credit history, but you do not have the financial management skills to have a credit card at such a young age? Credit cards are the easiest way to purchase things, but in reality they are the hardest things to manage in life.

The ability to be responsible with credit cards depends on you. The main reason that many young adults are in debt up to their eye balls is because of their wants and desires. Recent studies show “Half of college undergraduates have four or more credit cards.” This is a very high number for people to have at such a young age. You will probably start out with a credit limit around $250 to $1000 and you will have your card maxed out in a couple months. This is because it’s very easy to be careless about your purchases, putting your wants and desires first. Paying a monthly bill on time and making sure that it’s always on time is a big chore because you think that your family will help you pay back the debt or you can do it on your own, but an “average undergrad carries $3175 in credit card debt.” This number is up “forty-one percent from the same study conducted in 2004.”

There are many reasons that young college students get into debt, but the main cause is because you want everything you see. You have to learn that this where...