Picture this, a person turns on the television and sees an advertisement for a new product. This product has new features never seen in the market or claims to be better than the competition. This person sees the price and where to buy; suddenly the thought "I need that right now, I'll just die if I don't have it!" enters their head. In society today, companies constantly bombard consumers with advertisements or displays attempting to make one think he or she "needs" that product. I work in retail, and I see many products that I think I absolutely "need." This causes one of the main problems with the spending habits of youth: identifying and differentiating between needs and wants.
             Allowances and job earnings create a challenge to today's youth as well. To many youth, when one receives money, it seems he or she has to spend, spend, spend. My mother always tells me to pay myself first, that I should put away some money in the bank. This may make some students cringe, because they would rather buy things their parents would not purchase for them. In many ways, my mother is right. I will probably not have a job in my first year of college, and if I have something to fall back on, it will help alleviate costs for tuition, room, boarding, and food costs.
             Credit cards seem to cause the greatest challenge to today's youth's spending habits. To many youth, a credit card allows them to purchase anything they cannot afford without cash or check. I call it the Betty and Wilma on "The Flintstones" method when they shout "duh-duh-duh-duh-duh-duuuuuuh! Chaaarge it!" In reality, credit cards are a mini loan or mini mortgage; you are using someone else's money to purchase items and agreeing to pay back the amount to the creditor. Credit card companies often prey on inbound college students like a vulture over a dead animal. They know that most undergraduat...