Can You Survive College Without Wracking Up The Ever Prominent College Student Credit Card Debt?

7 tips you can use now to avoid typical college student credit card debt pitfalls

College is the first real taste of freedom for most people. You arrive on campus unprepared for the onslaught of temptations you'll face. And it's not just drinking and sex. You also face the enticing lure of easy college student credit. It's where most young people are first introduced to credit. 'Sign up for a credit card college students and get a free t-shirt, hat and beach towel. Buy whatever you want, just make the monthly minimum payment!' Today's college students are mired in credit card debt by the time they graduate-what they need is a crash course in financial literacy.

Studies demonstrate that people, ages 15-21, feel unprepared to face the complex world of the 21^st century. Most education efforts are focused on encouraging high school students to enroll in college instead of how to manage their future finances. This lack of practical financial education has poor results - only a third of these students end up earning their bachelor's degree and the average college graduate leaves college with over $20,000 in debt. This debt includes loans as well as student credit card debt.

Below are 7 basic tips that you can follow to start heading down the path to financial freedom and avoid the debt every other college student with a credit card gains:

1. Learn to distinguish needs vs. wants for a Credit Card A need is something you must have (like food, shelter and clothing). A want is something you would like to have that's not a necessity such as designer clothes, a weekly mani-pedi, or an iPod. In today's age you are faced with hundreds of ads each day that make you feel like you want everything. By distinguishing needs and wants you will have money for the things you truly do want instead of wasting money on things that don't leave you as satisfied and you'll avoid wracking up unnecessary college student credit card debt.

2. Ditch costly College Student Credit Card Debt building everyday habits. You must learn to forego your daily frappuccino habit and skip the fries and coke at the drive through. Seriously - a four dollar coffee five days a week equals more than $1,000 a year and that stuff isn't good for you anyway. So do what's right for your gut and your wallet.

3. Start saving young. Youth has major advantages when it comes to money. You have the power of compounding interest on your side. This force allows you to make money without working by creating a snowball affect on your money. The more you save and the more your investments return the greater affect this has for you. For those of you working, if you can start saving $250 a month and invest it wisely, you could be a millionaire by age 40.

4. Pay yourself first. With the average American spending more than he or she makes teach them to be a money rebel and not do what the average person is doing. By automatically depositing a percentage of your paycheck into a savings account, you won't miss it! As you know, a savings plan is the cornerstone for financial freedom and helps reduce college student credit card debt.

5. Open & automate all accounts. Open a checking account and two savings accounts. Your fist savings account will be savings for those fun things you want to do now - trips, clothes, etc. The other savings accounts is for long term planning

6. Start investing now. Pension plans and SSI probably won't be around when its time for you to retire so it is more important than ever that they start investing early. There are simple investment strategies that allow young adults to start investing immediately. Specific investment vehicles are available that you can set up once and automate; so your investments are made for you automatically each month. Simply check the statement you receive in the mail each month and that's it. Why struggle to pay credit cards as a college student, when you can be investing for your future.

7. Write out your lifestyle goals. Who cares about money - it's what money brings us that's important. Think of the places you want to travel, toys you want to have and how you can make a positive impact in the world. Discover what type of lifestyle you want to live by thinking about it deeply. Be as specific as possible, including how much money you need to make every month to meet your savings and lifestyle goals.

Every young adult and college student need to understand that the actions you take now have serious consequences. I understand how easy it is to just whip out the plastic when you see something you really want. We tell ourselves 'this one time won't hurt.' But it does hurt your finances in a big way because it adds up to staggering amounts quickly. The credit card debt you can accrue while you are a student adds up quickly!

Even though college marks the start of our adult freedom, sadly, it can also be the start of our financial demise. If you can avoid the seductive pitch to 'have it all now' with credit cards, you're much better off in the long haul. When you graduate from college, you want to leave with a degree, not saddled with the typical college student credit card debt. Let the frat parties, football games and your college wardrobe become happy memories-not a costly burden you're still paying for many years down the road.

Author of 'Financially Free by 30', Vince Shorb, personally reviewed over 10,000 credit reports and advises people on ways to better their financial futures. For more practical financial advice visit www.FreeBy30.com.