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With news of government bailouts, stock market swings and dire warnings of potential catastrophe, pundits and politicians are again arguing over who's to blame for the nations financial situation.

Fingers are pointed in all directions; however, one undeniable factor contributing to the chaos is the amount of Americans failing to pay their debts.

While it is often necessary to incur debt to obtain an education, there are things students can do to minimize the danger when walking the fine line of debt management.

One of the easiest ways to incur debt or bad credit comes in plastic, as credit cards.

According to money-zine.com, although "students are much more likely (than other demographics) to pay off their balances, they tend to pay late and exceed their credit limits more frequently than other groups and therefore incur more fees than other groups."

This is most likely explained by the fact that many students are just beginning independent lives away from parents and are still in the learning curve on practical math.

While well intentioned, many of us often fail to realize, either because of apathy or ignorance, the traps that exist in the complicated world of economics.

During these years when we form the molds that will shape the rest of our lives, establishing a solid financial foundation is key to our future success, both professionally and personally.

There are many resources for educating ourselves about financial matters, especially here at SUU.

While everyone can access resources from the Internet, TV, audio series and books, as members of the SUU community, we have access to teachers, advisers and students.

SUU officially offers career and loan counseling in addition to academic advisement and students can seek assistance from university employees, many of who are experts in their fields.

With some knowledge and added insight into how credit cards and other forms of debt work, students can avoid accruing fees and damaging their credit.

Because students often possess a stereotypical instinct for the latest stuff but have limited income sources to buy it, credit card companies frequently bombard them with offers.

With this in mind, students should look carefully at several options before choosing a credit card.

Students should especially avoid signing up for a card just for free pizza or a sandwich (if you're desperate for dinner, go to the Hope Pantry).

Fiscal responsibility and money management skills must be learned before the double-edged sword of a credit card is taken in hand.

This is the best time to lay the foundation for future economic stability and a great time to use the resources around us to become money-savvy citizens and part of the solution to the nation's financial struggles.

Source : http://media.www.suujournal.com/