| We live in an increasing more material world. We | | | | credit history to qualify. As long as they act |
| have grown to expect instant gratification in every | | | | responsibly, starting on a credit building financial |
| way. We no longer need to go to the bank and | | | | journey while in college is necessary for those who |
| stand in line to get to our money. We wave tiny | | | | will eventually buy a home. |
| keychain devices in front of a receiver to pay for | | | | Building credit can be accomplished if the right steps |
| items at the store. Computers start up in no time | | | | are taken. Signing up for one is a relatively safe way |
| and internet information is available on just about any | | | | to teach college students the responsibilities of |
| subject that we can dream up in a snap. We don't | | | | owning one. Secured cards require a deposit and the |
| even have to walk to the mail box to pay a bill | | | | deposit dictates the amount available. If you deposit |
| anymore. Remote controls, cell phones and MP3 | | | | $500, then you can spend up to $500. This is a great |
| players ensure that we can get where we need to | | | | way to establish credit, or repair credit that has been |
| go, talk to whomever we choose and listen to | | | | damaged in the past. When you make your |
| whatever we want in an instant. Our lives as | | | | payments on time and when you are overall |
| Americans are full of conveniences and luxuries that | | | | responsible for your finances, you will build it and you'll |
| our ancestors and people in other countries never | | | | usually be rewarded for your efforts. Banks and |
| dreamed of. So how does all of this convenience | | | | credit card companies keep track of your history and |
| affect college students? | | | | may offer you a line of unsecured credit or simply |
| Current college students have spent their entire lives | | | | increase the amount that you are able to spend. You |
| in this world of instant gratification and automated | | | | will establish a score and be eligible for future loans |
| convenience. They have access to student credit | | | | and unsecured credit cards. They are a great way to |
| card to get them out of a bind, but credit cards can | | | | teach college students about the discipline of paying |
| also get them into one. This is actually one | | | | off something long-term. |
| convenience that can really help college students get | | | | If they learn to avoid the instant gratification trap |
| by and help them prepare themselves for the future. | | | | that they've been raised to expect and really only |
| Building your credit early is important in this day and | | | | use the credit card for emergencies, then they will be |
| age. Soon they'll be out in the real world, needing to | | | | better off in the future. Having a credit score and |
| open cell phone contracts in their name, buy vehicles | | | | history that says good things about them will help |
| and ultimately buy a house. Keep in mind that most | | | | them take pride in what they have learned and |
| long-term big loan contracts, such as a home | | | | accomplished during their college years and will lay the |
| mortgage, can require up to an eight year good | | | | groundwork for a successful financial life. |