Abstract
To do well at college students need to have money and they need to know how to manage
it. There are plenty of students who enter college by means of no previous knowledge of
handling their own personal funds. Many students come to college and attain a credit card
for the first point in time with no regulation of the good or bad usage of credit. These
students do not just own the credit cards; they build up harmful amounts of debt and
practice negligent spending habits. Although not all credit card debt is damaging, the debt
students are accumulating is an outcome of shopping for clothes, entertainment, and extra
objects. Attitudes towards the usage of how money affects relationships, family stability,
and even employment success have recently had an effect on college students. Eighty
percent of undergraduate students have credit cards with an average balance of $2,226 and
10 percent have outstanding balances of more than $7,000 (Kendrick as cited in Henry,
Weber & Yarbrough, 2001). Free from the reassurance of their home, many students are
practicing being on their own for the very first time. One of the confrontations that they
face is making the right financial arrangements. This becomes predominantly challenging
when an expected budget item changes for example, having to buy washing detergent and
tissue since it is no longer your parent’s jobs. Well there may be a range of reasons for why
students own a credit card, and why they spend the money the way they do, it was only
