Adulting 101: The dance with your credit score
Illustration by Killian Goodale-Porter.
Nati Feliciano-Soto, Contributing Writer
For many college students, the road to financial independence is filled with firsts: first job, first paycheck and for some, the first credit card. Navigating this new responsibility can seem daunting, but having a credit card as a college student isn’t just about convenience — it is a powerful tool to learn how to manage finances early.
Credit cards provide students with a chance to build their credit history while offering a safety net for unexpected expenses. Learning how to handle a credit card responsibly is a crucial step in the journey toward adulthood.
Mistakes are bound to happen — overspending, missing a payment or misjudging a budget — but these lessons, learned in the relatively low-stakes college environment, can help prepare students for larger financial commitments later in life.
While credit cards offer valuable opportunities for college students to build financial independence, it’s crucial to acknowledge the potential risks they carry when not used responsibly.
A poor decision, like taking on more debt than you can afford, can lead to serious consequences such as missed payments, plummeting credit scores or even repossession of items purchased on credit, like a car.
Our early adult years are the times when we should embrace these mistakes despite the repercussions that come with them. A repossession or collection stays on your record for seven years, meaning that negative experience at 18 years old is something you can fix by the time you are 25. We always have time to learn and grow.
But for those who want to grow from the errors of others now, here are some friendly practical tips to stay on track with your credit score:
When you carve out your budget, only spend what you can afford to pay off in full each month. This ensures you avoid accumulating unnecessary debt. To help monitor your expenses and stay within your budget, consider using apps or tools like Credit Karma. These resources make it easier to track your spending and avoid exceeding your means.
Additionally, open a savings account and regularly contribute a portion of your paycheck. With inflation and other economic factors impacting the cost of living, building an emergency fund is essential. This fund acts as a safety net, helping you cover unexpected expenses without having to rely on credit cards or loans.
I learned these lessons the hard way when I got my first credit card at 19 with a $500 limit. It felt like free money — until the bill arrived.
By focusing on small, consistent payments and setting realistic budgets, I turned my mistakes into learning experiences. Today, I approach credit responsibly, knowing that setbacks are part of the journey.
Credit cards don’t have to be a source of fear. By understanding how it works, addressing issues head-on and maintaining healthy habits, you can build a solid foundation for your financial future. Mistakes happen, but with patience and determination, you can bounce back stronger. After all, adulting is a dance — and with practice, you will find your rhythm.
