Regarding your column on how some young people are unprepared for the responsibility of handling a credit card: I'd like to say that my personal experience with credit cards has been splendid. Although I am only 20, my credit limit is about $10,000. I pay all my bills in full and on time. I use only two cards, each of which gives me cash rewards.
I also maintain a detailed budget to monitor my credit expenses and cash flow and help me set goals. I don't use my cards unless I have money in my bank account, so credit is a substitute for cash. That way, I earn interest on my account, plus cash rewards on my spending, and end up ahead.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Student loan resource
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Five Ways to Make Retirement a Little Less ScaryTo avoid lying awake at night once you’re retired, consider having these strategies in place before you take the plunge.
-
With Irrevocable Trusts, It’s All About Who Has ControlAn irrevocable trust must be carefully funded, structured and managed to achieve both asset protection and tax planning.
-
How to Motivate Kids to Savepersonal finance It's not easy teaching your child to save. Here are some ways readers have incentivized their kids to keep track of their finances.
-
Lessons for Kids From the Crisissavings One of the greatest opportunities presented by the pandemic is to give children an appreciation for the workings of the economy.
-
Why Financial Education Workscollege Money skills learned young will pay off in the long run.
-
The Tooth Fairy Is Leaving Less Under Pillows These Dayssavings The average amount that the Tooth Fairy gives kids is down 10% from last year.
-
The Value Test: 300 Colleges That Pass
College Rankings All the schools on our list, from 1 to 300, are best values.
-
6 Ways to Get Your Kids to Do Chores Without Paying Themspending Kids shouldn't be paid for doing routine tasks, but for doing extra jobs that parents define as above and beyond.
-
Save $1 for College, Cut $2 in Debt
college Paying for college doesn't mean you have to take out thousands in student loans.
-
Back-to-School Money Tips for College Students
college Kiplinger's summer 2015 interns offer advice on managing your finances as a student.
