The Credit Card Crunch

Original Airdate: April 12, 2005
According to The largest non-profit provider of parent and student education loan funds in the US, 83% of undergraduates have a credit card. Nelly Mae reports that out of the students who have credit cards as freshman, 3 out of 5 of those students will have maxed it out by the end of their first year. In this segment we look at how to manage credit no matter who you are or how much money you earn. We learn about the so-called cost of money and how to live within our means.