Money Money Money!

Something that is crucial to becoming a "grown-up" in the world and helpful when you eventually separate the financial umbilical cord with your parents is CREDIT. If you are living off a debit card and cash and you're over the age of 18 you need to apply for a credit card. It is virtually impossible to be denied when applying for a credit card (especially if its the same bank as your debit card).

My parents got me a credit card when I was 16 years old and monitored how I used it so that I could learn to pay bills on time but also build credit in the meantime. It has really paid off (no pun intended) because I successfully learned how to manage my paychecks and spending, and I earned a great credit score (which has helped tremendously in the home purchasing department). Many banks like BOA offer a "student credit limit" if you're still in school.

Credit card beginners tips:

• When starting out on a credit card it is good to set a reasonable limit (about $400-500).
• Only use your credit card for things that are consistent month to month like gas and groceries.
• Only purchase on your credit card what you KNOW you can pay off every month. It really skyrockets your credit score if you pay everything off every month, which is good reason to start off nice and slow/low.