Machine Learning

First and foremost, college students are not saving One reason is that credit cards are so easily accessible And secondly, many students are balancing multiple jobs, which leaves less time to focus on saving WHAT ARE THE RISKS OF CREDIT CARD DEBT? When it comes to credit card debt, there are several risks One of the biggest risks is that you can end up paying exponentially more for an item than you would have if you had saved up for it But credit card debt also has several other risks: A higher interest rate Longer payback time Lower credit score Added stress Negative impact on your financial future HOW CAN YOU DEAL WITH CREDIT CARD DEBT? One of the best ways to deal with credit card debt is to not get into it If you are buying items with your credit card and not paying off the balance immediately, you are carrying a balance, which is debt Start by avoiding any emergency credit card purchases, as they can become a bigger problem than you may realize If you already have credit card debt, you