Frustrating Friday's

"I have credit card debt"

Did your skin just crawl? Mine did. No one wants to say this and no one wants to hear this. It is truly a nightmare and I do not wish it on my worst enemy (hopefully none of you do...). 

Yet, credit card debt is one of the most common problems in America today. The average credit card debt is $15,270.

Let that sink in.

Guess what the target age group is for credit cards? You guessed right it's me, you, and the rest of the 17 million enrolled college students in America today. Yet, according to society we need a credit card. Unless your reason for a credit card is education, you do not need one.

This "Frustrating Friday's" post is directly related back to last weeks frustrating post. It's the idea of not spending more than you make/earn. The credit card's definition is initially a bi-polar opposite to this very phrase. Every time a credit card is swiped imagine the customer giving the cashier a sticky note that says IOU (I owe you) because this is exactly what they are doing. 

The media is pushing credit cards everywhere you turn. It has almost come to a point that if you don't have a credit card you're out of place among society. 

I know there are people that can control their credit and have good credit scores, but as college students is it necessary to have a credit card right now?

Honestly it's the last thing you want to have when you want to start budgeting. It is so crucial to see your physical money. 

There is no emotional effect behind a swipe of a card. If you can physically see your money in your wallet it's easier to become "more attached" if you will and less likely to spend it. This is where the envelope system significantly helps you view your budget and your funds. 

As I said before, the media isn't helping to teach America how to budget their money. To the right here is the infamous Barbie. Often she comes in many different outfits relating to jobs and work attire such as Barbie the vet, Barbie the nurse, or Barbie the teacher. 

However, this Barbie is the "cool shoppin' Barbie." The commercial for this Barbie came out in 2007 and explains quite clearly how many college students have the same limited swipe mindset. 

When beginning your budget ditch the credit cards. Don't become shopping Barbie. 

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Frustrating Friday's

"Don't spend more than you earn."

Have you ever heard that? This phrase is thrown around all the time and it is ringing true more and more in our society today. It is a hard habit to break when you become a college student.

People, college students to be specific, are choosing to spend far more than they earn to put the cherry on top of their school tuition sundae of debt. An easy way to avoid this dilemma is to prepare or budget for something you want.

For example the picture above makes a joke about getting an iPad when you can't really afford it. There is nothing wrong with an iPad considering you can purchase e-books on it and it can help you stay informed with your school schedule in an efficient way. However, spending a significant amount of money on something you can't afford is a poor decision.

If you're considering purchasing something with a bigger price tag think about ways you can save up for it. Take a certain amount out of your paycheck every week make that purchase a positive one. When you save up for it, you won't feel guilty and you will probably feel even better about your purchase.

Get this...when you don't spend more than you earn you start saving money! It's quite simple, but a hard habit to begin.



Most students today would not be in the significant amount of debt they are in if they chose to spend LESS than they make.

It's a simple rule to follow that could change that sundae to a "guilt-free" one.