Originally Posted by
imoscardotcom
get a credit card. f what everyone else says. log what you purchase and pay it off the same day. i just graduated from college and managed my credit perfectly all 4 years. because of this i am eligible for loans for important things, like a down payment on a house.
you will also need a credit card in order to rent or lease anything in your name, like an apartment, which you will most likely move into in the next few years. the sooner you start building your credit, the better. only spend money you have, and don't be an R-tard.
the cardinal rule is to leave it at home when you go out drinking
let's not start the name calling. finance philosophy is personal but supporting first-year students with credit cards is just a little out there, it's bonkers considering the poor kid's going to have a million other pressures to deal with. a credit card is a potentially-hazardous financial tool that, when mixed in with the emotional and psychological changes of a kid living away from home, can turn ugly fast.
you DO know that one can build superb credit in junior-senior years, right? and many students in technical programs will be in school for five+ years -- plenty of time to build credit after you get settled living away from mom and pop. plus most student-aimed housing, at least in my city, is credit-check-less and I wouldn't expect a kid to come fresh out of college looking to buy a house anyway. most people have loans to pay off first. for credit building, the sooner the better is true I suppose, but you need to think back to freshman year in the dorms. a plastic card can wait.
I know your drinking comment was in jest but please, this kid is likely 18. you do realize that is well under the legal drinking limit and getting caught with a fake ID or any involvement with alcohol in that age can result in between a light slap in the wrist from a school to expulsion and legal matters. It was a joke, I know, but underage drinking is not a light-hearted manner.
no harsh on your mellow but that's just my two.