That gives students a limited amount of money and a tool to begin to manage money. The most common problem, she said, is that students are not aware of the true cost of credit. If they sat down and tallied the total cost, they might think twice. But there's that sense of immediacy. You have to keep up with your friends.
Life is for living.
They're not used to saving and budgeting. Then there is the stress related to college life, which many students relieve by shopping. If you're emotionally stressed, there's a tendency to go to the mall. For many students, going to college is the first time they're handling a checking account, a credit card, paying bills and shopping for groceries. The biggest problem areas for students, money-wise, seem to be entertainment and food.