Spending money somewhat carelessly can be a hard habit to break, especially if a person is college-aged and has never been taught how to wisely manage their funds. Partying is fun, but too much beer or fast food can quickly leave a college student’s wallet (and probably stomach) hurting.
Today’s infographic outlines 20 financial tips that anyone 20 years or younger (or even older) would benefit from knowing.
One of the points stressed is that if a person doesn’t have the ability to pay for something in cash, they should not use credit to purchase it. This makes good financial sense; if the purchase someone is making with credit will make them unable to pay their credit card bill, they shouldn’t make the purchase. If more people could really understand that at a younger age then it could help reduce the number of people struggling with credit card debt.