Credit card blues - Tips News & Trends - Brief Article

Career World, Feb-March, 2002

Feeling a bit stressed? Students complaining of stress or loneliness to counselors at the University of Minnesota's Boynton Health Service may have been surprised by a new diagnostic "took." Often, the problem was diagnosed with simple questions about credit card debt. Counselors found that students were sometimes working two jobs to pay off their or cutting classes to go to work. The health service responded by offering students access to consumer credit counseling and help with budgeting and debt consolidation.

Easy credit is hard to resist. And besides, a credit card can help you establish a good creditrating and provide you with the resources you may need to deal with a true emergency. What's the best way to handle credit? First, determine your total income, and then create a budget you can live with. Use only one credit card, and pay off the balance in full each billing period. Be aware of and avoid hidden charges such as late fees, fees for exceeding the card's limit, or fees for carsh advances. Keeping these tips in mind will help you avoid those credit card blues.