As a college student, you’ve learned a lot of things in the last few years – most of which you can actually discuss with your parents. However, a new U.S. News survey suggests you might be missing a basic part of your education that could affect your financial future.
According to the survey, students are acquiring credit cards without sufficient knowledge to use them responsibly.
Forty percent of students with credit cards said they were never taught about any important aspect of credit usage, either from parents or teachers. Over 37% of respondents were never taught how to use a credit card responsibly and 26.2% were never taught how to create a budget.
That’s a recipe for overspending – and, as expected, 29% of respondents carried balances at least six out of the past twelve months. Half of respondents said they needed credit cards for basic necessities…