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How I Went Bankrupt at 23
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| Parent(s) |
Issue
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| Contributor | Imperator |
| Last Edited | Imperator Jun 04, 2012 02:15pm |
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| Category | Perspective |
| Author | Amanda Chatel |
| News Date | Monday, June 4, 2012 08:00:00 PM UTC0:0 |
| Description | For as long as I can remember, my father warned me about the dangers of credit cards.
After I got my first job the summer after high school senior year, it became clear just how irresponsible I was with that minimal income. The second I got paid, I would spend it.
It's not as though I was buying anything I needed because at the time I was living at home. However, that didn't stop me from figuring out ways in which I could burn through my funds. As a result, my parents suggested I never ever get a credit card, because it was guaranteed to lead to trouble. "Not only is math not your strong suit," my dad warned, "but you also have zero concept of the worth of a dollar."
He was right.
I was only a few weeks into my first semester of college when a credit card company in the Student Union Building lured me in with promises of "building credit," "learning responsibility," and, more importantly, access to invisible funds that were not mine. I was sold.
I put down my parents' combined income (since I was a student, after all), and received my first credit card a couple weeks later. I didn't tell my parents because I was 18 years old, mature and ready to prove them wrong. |
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