Plastic money leads to debt
IV Leader Editorial, Nov. 13, 2003
Cha-ching! This is the sound that every credit card company hears as college students prepare to attend school.
Every year, students all over make the decision to acquire a credit card, thinking that they will only use it in case of an emergency. Well, little do they know, everything will become an “emergency,” like the need to buy new jeans or dinner at an upscale restaurant.
This year at IVCC, Students in Free Enterprise (SIFE) will be sponsoring a series of seminars called “Death by Plastic” discussing the aspects of credit card debt. These topics will be explored in depth at various times throughout the week of Nov. 17. The members of SIFE hope to educate IVCC students on the importance of not abusing credit cards. More specifically, these discussions will include the legalities involved with credit card debt, credit ratings, and how to avoid the credit card blues.
In our opinion, the problem with using a credit card is that you don’t actually see the money that you are spending until the statement rolls through the mail. It would be like sticking your hand on a hot burner, but not feeling the pain until an hour later.
Therefore, when handing the cashier your plastic for those $60 jeans, realize it will join a dozen other charges and that it will be waiting for you at the end of the month.