[Independent]

I think it's really sad that there are so many kids that turn 18 and start getting into debt. I don't think they realize how much it's going to hurt their future. I'm very lucky to have kids who understand money.

[MomofMany]

Yep. A lot of them do it because they suddenly have freedom and a credit card - but they don't understand it will come back to bite them. My 18-year-old has learned that it is better to only buy what he can afford, so I think he will do well!

[Nick]

Some people have common sense about money, and other people don't and have to learn the hard way. As they say, common sense isn't always common.

[AmericanDream]

Well I wasn't really taught about money growing up so when I was given a ton of credit when I turned 18, I kind of went wild. I tried to pay it, but I racked up too many monthly payments over several different cards. I wound up in bankruptcy when I was 21. It's all been cleared away and I have good credit now. Sometimes you have to make mistakes to learn.

[Clonemoney]

Yeah, that's a shame that young people love to spend on things they can't currently afford. I don't like the idea of getting first and paying later myself.

[moneymaker]

My situation isn't entirely my doing. My parents did not teach me the basics of money handling. In fact, it was my Mom who convinced me getting credit cards was a good way to get my credit score higher. She told me to rack them up and she would pay them off for me. She also got one under me in her name and racked it up. She's never paid them off.

[cookiemonster]

We lost a generation somewhere that decided its okay to not worry about debt, then they passed it down to their kids. I have a 2nd cousin via marriage who is almost 20K in debt and really has no care in the word about paying it back.

[shoestring]

It is a shame when college kids rack up credit card debt. It's very easy to do. I had some debt but paid it off....with student loans. That was stupid; now I'm paying out the nose for student loans. I'd be doing that anyway but I could have saved myself a few thousand dollars.

[Penny]

You really can't get ahead without incurring some debt. I think the key is knowing how to manage it properly. Credit is a financial tool. Like any tool, you have learn how to use it.