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Teenagers Using Credit Cards

Essay by   •  March 15, 2012  •  Essay  •  266 Words (2 Pages)  •  1,859 Views

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Teenagers Using Credit Cards

Say No to Teenage Credit Card Use

No Teenagers should not use credit cards. Credits cards are a easy way to assess money but the price to be paid is far greater, especially for teenagers. Teenager should not us a credit card because they lack maturity. This lack of maturity results in foolish spending, bad budgeting, and messed up credit.

Teenagers spend their money foolishly. Instead of putting their money in the bank they spend their money on their friends by trying to show off. They are people pleasers of their friend instead of thinking about their future. Some kids spend money on video games which may end up broken or damaged. As a result of foolish spending teenagers go way over their budget.

Most teenagers go way over their budget because they do not record how much money they spend. As a results they have a lot of overdraft fees which if not paid goes against their credit. This effects them in the future with purchasing the car or house of their dreams.

Teenagers mess their credit up when they fail to pay their overdraft fees. The overdraft fees add up and then the bank has to close the account out. Also if the teenagers does not keep his job he cant pay the overdraft fees off to keep the bank account open.

In conclusion, The use of credit cards with teenagers is unwise and can have many long term effects due to lack of maturity, leading to foolish spending, bad budgeting and resulting in messed up credit.

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