jazimodel: Why *isn't* it logical for people to save and pay cash? What do you think people did before credit cards? If you can't pay for something when you buy it, then you can't *afford* it. And contrary to popular(broke people's) opinion, you do NOT need credit or a credit score to buy clothes, a car, or even a house. If you have a good downpayment and the income to support the mortgage, you can work with a company that does "manual underwriting". And even with no credit score you can get the best rate available. A FICO score is not a measure of your financial success. If someone handed you $1 million tomorrow, your FICO score wouldn't even budge.
Please don't fall for the lies(told to you by banking institutions). Think about it - who benefits if you get a credit card and keep paying payments to raise your FICO score? Um...the banks???
I only wish that I knew at your age what I know NOW. I'd be in a much better financial situation.

1. Get a debit card and charge it as a credit card. That's perfect credit without the risk! Credit cards are great if you play them safe.

2. Don't burry your money in a bank. Currency means current money, and therefor has to be moving. You might as well burry your money in the backyard if you're going to put it all in the bank. Put some into mutual funds and learn about diversified portfolios. Learn about investing in real estate. Myself and many others are learning about these things in college and taking due action for our future.

I still disagree to a certain extinct... Jacquezchristian, It may not be fair but Im looking at it from a college student stand point. I have had my 2 credit cards for 4 years now and it has helped my credit tremendously. It is not logical for students to save, save, save and buy everything in cash. cedit is what is making the world go round right now. no or bad credit, u have to pay high deposits for EVERYTHING... high interest rates on home... um.. and you get the picture. I do agree with still saving. All the time. credit cards are not the only way to gain credit. but that is what this blog or discussion is about. So, thats y I made that point about it being a great idea to get one.

mmm... I would say join clubs appar form them looking good on ur resume most of them have events and most of does evens include free food so join as many as you can

Lauren, Whitney, and Jazimodel....credit cards are not a bad thing at all, but no one can deny that they bring potential debt problems...you could pay off what you owe on time, but anything can happen and suddenly you could wind up using that credit card for "emergencies" or "need"s. Its true that credit scores are used to get you a home, car, whatever... BUUUTTT!!! that doesn't mean its the ONLY way. Society has been brainwashed to believe that credit and FICO scores are a must but they really arent, all the score tells you is how you handle your debt. If you want proof got to FICO's website and calculate a score that has no debts on anything whatsoever, it says "there was an error"!!!!!!!!! But why have debt to begin with? Credit cards dont bring anything except massive money problems regardless if you THINK you can manage your spending. Instead of getting credit cards and using money you dont have, or think you'll have, SAVE!!! In short, if any of you have heard of DAVE RAMSEY, i seriously urge you to heed his advice. It really can change your life. If not, then go to his website! Click around, find out the truth about credit cards and the "GREAT FICO SCORE!" lol :)

As for scholarships, don't just apply for big national scholarships. Ask your academic advisor or guidance counselor about local scholarships. They are far less competitive. Even though they may not be worth as much, $100 or $250 here and there never hurt anybody.

Don't only apply to state schools and Ivy Leagues! Apply to private schools even if you don't think that you can afford the tuition. Usually only the people who can really afford it pay the full tuition. I'm currently attending an excellent private university and it was less expensive than a state school because the private university gave me a massive scholarship.

And if you're applying to a private college, there's another opportunity for a scholarship. They usually have alumni chapters that LOVE to give scholarships to accepted students. My friend got a bunch of money from our local Notre Dame alumi chapter once she got accepted.

I have the steps to coming out of college basically debt free. I'm going to be in a ton of debt, thus I know how to work the system now, even though I messed up. Here is the steps.

Get a job. Doesn't matter what it is. Work as much as possible while maintaining a high grade point average in High School.

Do NOT buy a car until you have the cash to buy a car that will last you a good ten to 15 years. That is they type of car you want, especially if you want to be out of debt or have next to no debt when leaving college.

Once you have this car, and you are graduated from High School, find 2 friends whom you can live with. Get an apartment together. If you can car pool, car pool as much as possible such that each of your cars has a longer life.

Go to school at your local community college. This is cheap, and since you and your roommates are splitting rent, the amount and total cost to go to college is significantly less.

Set up as many majors as you can while at that community college. Even if you don't plan on staying with those majors, it's good to have the core classes done for you major once you go to a four year accredited school.

Don't go to a 4 year accredited school until you are independent from your parents. Their income will not effect your financial aid and since you will probably have an income of less than 12,000 a year, a large portion of financial aid will head your way.

If your job has benefits, make sure you have those benefits in order before you leave dependence from your parents.

Go to that four year accredited school after all the steps above are completed and so that you only need to go for 2 years to that school.

You will get more scholarships, financial aid, etc. that will assist you in making your college debt smaller. This will also take a lot longer, but hey, that's why you're living with close friends to make it a good time.

I dont think credit cards are bad miss using them is. Just because you have one dosent mean you need to max it out on things you want. Also intrest only applies if u dont pay it off every month. When you can start your credit history early it can help you later on in life.