During a recent trip to Target I couldn’t help but notice all the “Back to School” necessities aimed at college students. There were comforters, mini fridges, storage containers, gizmos and gadgets any college student cannot live without. Missing from the array of essentials was one of my favorite books, The Total Money Makeover by Dave Ramsey.
For many kids, college is the first time they will be living on their own, and having to make choices without mom and dad looking over their shoulder. College (although this happens in high school too) is also where kids are bombarded with credit card applications and encouraged to begin living a life beyond their means.
Face it, college kids are broke! College is expensive and most people are taking out loans just to pay for school. This is not the time for kids to be spending wildly on delivery pizza, weekend getaways, and the latest electronic fads.
According to a recent USA Today article:
A new study to be released Monday by Sallie Mae, a college-financing company, finds that the average undergraduate carried $3,173 in credit card debt last year…
If you know someone who is starting college or even a high school student, I would encourage you to spend the $15 and buy this book as a gift a young adult. Had I read this book when I was in my twenties instead of my thirties it would have saved me a ton of debt and stress! How I would have loved to been investing money in my twenties instead of paying interest charges on a credit card.
I opened a discussion over that BlogFrog about college and debt. I would love to hear your opinions!
For more Frugal Tips visit Life as Mom.