Right now is an exciting time. You are becoming independent, and learning the skills that will prepare you for adulthood. An understanding of money is one of the most important skills you can have. One important aspect of financial management is credit card use.
Responsible credit use can lead to interest savings over time, as well as savings in such areas as insurance rates. When using a credit card, whether your parents co-sign with you or you have your own credit card, it is vital that you practice discipline.
The flip side to credit use is debt. While responsible credit card use - including paying your balance off each month - leads to financial opportunities, irresponsible use can ruin your finances. Running up debts with your credit card is a short road to money difficulties. Plus, when you pay interest on debt, you don’t get anything out of it. You basically just mail your money to someone else.
We hope you will use this site to learn about responsible credit use. When you know how to properly manage, you can achieve financial freedom, and avoid being at the mercy of creditors.