Beware the dangers of credit cards

Don't spend the next decade after college trying to pay back the costs of unnecessary entertainment. Live like a college student today to avoid living like one in the future.

As soon as students have their 18th birthday, they often become the targets of aggressive marketing by card companies. The reason: they no longer have to have a parent or legal guardian co-sign for the card.

A poll by the American Institute of Certified Financial Planners found that more than 80 percent of college students had at least one credit card and that 10 percent had at least $7,000 in debt.

A survey by Georgetown University sociologist Robert Manning, who has done a five-year study on "America's love affair with plastic," suggests that some students polled in the study who quit school because of low grades also reported a high debt load. The study said students with debt are more likely to quit school in order to pay the debt.

Avoid the credit card trap by limiting your charges and paying off debt quickly. Make a budget and stick to it.

Don't spend the next decade after college trying to pay back the costs of unnecessary entertainment.