Should college students carry checks, debit cards or credit cards?
EILEEN ALT POWELL, AP Business Writer. Associated Press. Copyright Associated Press NEW YORK (AP) _ One of the toughest decisions parents make as they send their children off to college is whether to pack checkbooks, debit cards or credit cards that the kids can use for school costs and personal expenses. Checking accounts and debit cards have the advantage of imposing limits; if there’s no money in the account, the kids can’t spend. Credit cards may allow more spending flexibility _ especially in emergencies _ but they can risk enticing the kids to overspend and take on debt they can’t afford. Experts say the decision should be based on a child’s maturity and comfort with money. They also recommend parents be aware of their children’s spending, regardless of the payment option they choose. “In high school, the parents take care of everything financial for their kids,” said Steve Avdul, co-author of “Real Life 101: A Guide to Stuff That Actually Matters.” “When they graduate, the kids
