Students have to decide when they will use their cards. James, a senior, uses his card only for emergencies. This is the method preferred by many students and most parents. Tires or a new transmission, trips to the doctor or dentist and other unexpected problems are appropriate times to use plastic. Need is the key with this type of spending.
Some students consider amounts of spending rather than what they buy.
Stephanie says she tries to only spend what she can pay off at the end of each month. Either way, students need a plan before they hit the mall or Wal-Mart. Senior Melissa warns to watch the little stuff. It is crucial to understand the difference between the balance of the account and the minimum payment on the statement. The balance is the total amount owed to the company.