College students are a major target of the credit card industry. Billions are spent tempting and trapping young adults into credit card debt without teaching the dangers. Most young adults feel a credit card is a  good way to build their credit and pay for expenses, but that is a slippery slope if you do not have a plan.

Young adults fall into the payment trap by assuming they can purchase more than the spending power because the payments are so small and affordable. Problem is however, that the debt comes with long term payments if only the minimums are made. The purchases can quickly add up and get out of control. Most young adults spend more when they pay by credit card over cash.

There’s a site aimed at helping educate and guide young adults through the financial dangers. http://foolproofme.com/ has educational videos that young adults can relate to. You learn valuable information from other young adults your age about how to navigate the financial waters and avoid debt traps and pitfalls.

More education sites like this are needed to guide our next generation on how to effectively build their credit responsibly.  FoolProof is endorsed by the National Association of Consumer Advocates and the Consumer Federation of America.